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Global Fintech Market: By Services: Money Transfer and Payments, Savings and Investments, Digital Lending and Lending Marketplaces, Insurance, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Fintech Market Outlook
The global fintech market attained a value of more than USD 135.90 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 11.9% to reach over USD 266.9 billion by 2027.
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Favourable Government Initiatives to Aid Digital Economy and Financial Sector Boosting the Market Growth
Governments around the world are supporting the use of fintech to increase financial inclusion, increase efficiency through the use of real-time payments and open applications programming interfaces and blockchains, among others. For instance, the United Kingdom government has created a taskforce to explore digital bank currency to form a more open, greener, and technologically advanced financial services sector. Similarly, the introduction of a regulatory sandbox scheme by the South Korean government to commercialise innovative fintech solutions and promote competition and growth in the fintech industry. Furthermore, the increasing investments by various governments to aid the digital economy are also leading the market growth. In addition, the rising adoption of digital payments and open banking is further enhancing the growth of the fintech industry.
The increasing internet penetration and the rising ownership of smartphones around the globe, along with the rising adoption of cashless currency, have revolutionised the payment and money transfer segment. Moreover, the increasing attempts for fintech companies to adopt the latest technologies and improve user-friendliness is increasing its demand among the technology-driven millennials and Gen-Z, which is also invigorating the industry growth. Moreover, the plethora of start-ups and established companies provide various opportunities for the economic growth of various small and medium-sized enterprises (MSME) by providing them with a variety of rich funding options and other services, such as marketplace lending, invoice finance, and merchant and e-commerce finance, among others.
Fintech: Market Segmentation
Fintech, variously referred to as financial technology, is a technology that enhances or automates financial services and processes. It utilises specialised software and algorithms to help business owners, companies, and consumers manage their finances using a computer or a smartphone. It is typically used to automate insurance, investments, trading, risk management, and banking services, among others and can provide insight on finances.
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The market can be broadly categorised on the basis of its services into:
- Money Transfer and Payments
- Savings and Investments
- Digital Lending and Lending Marketplaces
- Insurance
- Others
The EMR report looks into the regional markets of fintech like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Adoption of Digital Services Owing to the Coronavirus Pandemic to Bolster the Industry Growth
The recommendation to limit physical contact by authorities owing to the surge of the coronavirus pandemic is positively impacting the trend of cashless economy and digital payment. Moreover, the rise of the e-commerce sector, especially during the pandemic, is boosting digital payment services. Companies like PayPal, NaverPay, and Google Pay, among others, are witnessing a considerable increase in customers and digital transactions, consequently boosting the market growth. As digital lending is more effective and accessible during lockdowns in various countries and the hesitancy of people to get out of their homes, their demand is considerably increasing, further propelling the market growth. Moreover, the evolving consumer habits during the pandemic and the ease of financial technology are expected to aid the market growth in the forecast period, even after the pandemic is over.
The adoption of innovative technologies by fintech companies to prevent cybercrime and financial fraud is providing further impetus to the market growth. Moreover, the introduction of personalised artificial intelligence (AI), which is more objective and reliable than other investors, is also expected to bolster the market growth. Additionally, the rising use of machine learning to improve credit decision models and monitor borrower spending behaviour to identify risk patterns is further accelerating the market growth. Furthermore, the advent of robotic process automation to improve the consumer experience, eliminate repetition, and reduce expenses, is anticipated to boost the market in the forecast period.
Key Industry Players in the Global Fintech Market
The report presents a detailed analysis of the following key players in the global fintech market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Social Finance, Inc. (SoFi)
- PayPal Holdings, Inc.
- Adyen NV
- Avant, LLC
- Clyde
- Stripe
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Services, Region |
| Breakup by Services | Money Transfer and Payments, Savings and Investments, Digital Lending and Lending Marketplaces, Insurance, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Social Finance, Inc. (SoFi), PayPal Holdings, Inc., Adyen NV, Avant, LLC, Clyde, Stripe, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Fintech Market Analysis
8.1 Key Industry Highlights
8.2 Global Fintech Historical Market (2017-2021)
8.3 Global Fintech Market Forecast (2022-2027)
8.4 Global Fintech Market by Services
8.4.1 Money Transfer and Payments
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Savings and Investments
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Digital Lending and Lending Marketplaces
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Insurance
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Others
8.5 Global Fintech Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Social Finance, Inc. (SoFi)
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 PayPal Holdings, Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Adyen NV
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Avant, LLC
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Clyde
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Stripe
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Fintech Market: Key Industry Highlights, 2017 and 2027
2. Global Fintech Historical Market: Breakup by Services (USD Billion), 2017-2021
3. Global Fintech Market Forecast: Breakup by Services (USD Billion), 2022-2027
4. Global Fintech Historical Market: Breakup by Region (USD Billion), 2017-2021
5. Global Fintech Market Forecast: Breakup by Region (USD Billion), 2022-2027
6. North America Fintech Historical Market: Breakup by Country (USD Billion), 2017-2021
7. North America Fintech Market Forecast: Breakup by Country (USD Billion), 2022-2027
8. Europe Fintech Historical Market: Breakup by Country (USD Billion), 2017-2021
9. Europe Fintech Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Asia Pacific Fintech Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Asia Pacific Fintech Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Latin America Fintech Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Latin America Fintech Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Middle East and Africa Fintech Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Middle East and Africa Fintech Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Global Fintech Market Structure
Key Questions Answered in the Report
In 2021, the global fintech market attained a value of more than USD 135.90 billion.
The market is projected to grow at a CAGR of 11.9% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach over USD 266.9 billion by 2027.
The market is being driven by the rising use of fintech by the young population and the introduction of various favourable government initiatives.
The market is aided by technological advancements, the rise of the e-commerce sector, and the surge of coronavirus pandemic, which has increased the demand for remote management of finances.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant services in the market are money transfer and payments, savings and investments, digital lending and lending marketplaces, and insurance, among others.
The major players in the industry are Social Finance, Inc. (SoFi), PayPal Holdings, Inc., Adyen NV, Avant, LLC, Clyde, and Stripe, among others.
Analyst Review
The global fintech market attained a value of more than USD 135.90 billion in 2021, driven by the introduction of favourable government policies and incentives. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 11.9%. The market is projected to reach over USD 266.9 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of services, the fintech industry is divided into money transfer and payments, savings and investments, digital lending and lending marketplaces, and insurance, among others. The major regional markets for fintech are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Social Finance, Inc. (SoFi), PayPal Holdings, Inc., Adyen NV, Avant, LLC, Clyde, and Stripe, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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