Reports

Fintech Market

Global Fintech Market Size, Share, Forecast: By Deployment Mode: On-premise, Cloud; By Technology: Application Programming Interface (API), Artificial Intelligence, Blockchain, Robotic Process Automation, Data Analytics, Others; By Application: Banking, Trading, Taxation, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Fintech Market Outlook

The global fintech market attained a value of approximately USD 226.76 billion in 2023 and is expected to grow in the forecast period of 2024-2032 at a CAGR of 16.8% to reach USD 917.17 billion by 2032.

 

Fintech Market

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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.

 

Fintech Market by Segments

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Based on deployment mode, the market is segmented into:

  • On-premise
  • Cloud 

 

On the basis of technology, the market is classified into:

  • Application Programming Interface (API)
  • Artificial Intelligence
  • Blockchain
  • Robotic Process Automation
  • Data Analytics
  • Others

 

By application, the market is divided into:

  • Banking
  • Trading
  • Taxation
  • 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.

 

Fintech Market by Region

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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 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:

  • PayPal Holdings, Inc.
  • Ant Group
  • Stripe, Inc.
  • Intuit Inc.
  • Adyen Group
  • Coinbase
  • Square Capital, LLC
  • Avant, LLC.
  • Klarna Bank AB
  • Nu Pagamentos S.A
  • 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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Deployment Mode
  • Technology
  • Application
  • Region
Breakup by Deployment Mode
  • On-premise
  • Cloud
Breakup by Technology
  • Application Programming Interface (API)
  • Artificial Intelligence
  • Blockchain
  • Robotic Process Automation
  • Data Analytics
  • Others
Breakup by Application
  • Banking
  • Trading
  • Taxation
  • Insurance
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • PayPal Holdings, Inc.
  • Ant Group
  • Stripe, Inc.
  • Intuit Inc.
  • Adyen Group
  • Coinbase
  • Square Capital, LLC
  • Avant, LLC.
  • Klarna Bank AB
  • Nu Pagamentos S.A
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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    Opportunities and Challenges in the Market
8    Global Fintech Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Fintech Historical Market (2018-2023) 
    8.3    Global Fintech Market Forecast (2024-2032)
    8.4    Global Fintech Market by Deployment Mode
        8.4.1    On-premise
            8.4.1.1    Historical Trend (2018-2023) 
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Cloud
            8.4.2.1    Historical Trend (2018-2023) 
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Fintech Market by Technology
        8.5.1    Application Programming Interface (API)
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Artificial Intelligence
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Blockchain
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Robotic Process Automation
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Data Analytics
            8.5.5.1    Historical Trend (2018-2023) 
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Fintech Market by Application
        8.6.1    Banking
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Trading
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Taxation
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Insurance
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others
    8.7    Global Fintech Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Fintech Market Analysis
    9.1    Market by Deployment Model
    9.2    Market by Technology
    9.3    Market by Application
    9.4    Market by Country
        9.4.1    United States of America 
            9.4.1.1    Historical Trend (2018-2023) 
            9.4.1.2    Forecast Trend (2024-2032)
        9.4.2    Canada
            9.4.2.1    Historical Trend (2018-2023) 
            9.4.2.2    Forecast Trend (2024-2032)
10    Europe Fintech Market Analysis
    10.1    Market by Deployment Model
    10.2    Market by Technology
    10.3    Market by Application
    10.4    Market by Country
        10.4.1    United Kingdom
            10.4.1.1    Historical Trend (2018-2023) 
            10.4.1.2    Forecast Trend (2024-2032)
        10.4.2    Germany
            10.4.2.1    Historical Trend (2018-2023) 
            10.4.2.2    Forecast Trend (2024-2032)
        10.4.3    France
            10.4.3.1    Historical Trend (2018-2023) 
            10.4.3.2    Forecast Trend (2024-2032)
        10.4.4    Italy
            10.4.4.1    Historical Trend (2018-2023) 
            10.4.4.2    Forecast Trend (2024-2032)
        10.4.5    Others
11    Asia Pacific Fintech Market Analysis
    11.1    Market by Deployment Model
    11.2    Market by Technology
    11.3    Market by Application
    11.4    Market by Country
        11.4.1    China
            11.4.1.1    Historical Trend (2018-2023) 
            11.4.1.2    Forecast Trend (2024-2032)
        11.4.2    Japan
            11.4.2.1    Historical Trend (2018-2023) 
            11.4.2.2    Forecast Trend (2024-2032)
        11.4.3    India
            11.4.3.1    Historical Trend (2018-2023) 
            11.4.3.2    Forecast Trend (2024-2032)
        11.4.4    ASEAN
            11.4.4.1    Historical Trend (2018-2023) 
            11.4.4.2    Forecast Trend (2024-2032)
        11.4.5    South Korea
            11.4.5.1    Historical Trend (2018-2023) 
            11.4.5.2    Forecast Trend (2024-2032)
        11.4.6    Australia
            11.4.6.1    Historical Trend (2018-2023) 
            11.4.6.2    Forecast Trend (2024-2032)
        11.4.7    Others
12    Latin America Fintech Market Analysis
    12.1    Market by Deployment Model
    12.2    Market by Technology
    12.3    Market by Application
    12.4    Market by Country
        12.4.1    Brazil
            12.4.1.1    Historical Trend (2018-2023) 
            12.4.1.2    Forecast Trend (2024-2032)
        12.4.2    Argentina
            12.4.2.1    Historical Trend (2018-2023) 
            12.4.2.2    Forecast Trend (2024-2032)
        12.4.3    Mexico
            12.4.3.1    Historical Trend (2018-2023) 
            12.4.3.2    Forecast Trend (2024-2032)
        12.4.4    Others
13    Middle East and Africa Fintech Market Analysis
    13.1    Market by Deployment Model
    13.2    Market by Technology
    13.3    Market by Application
    13.4    Market by Country
        13.4.1    Saudi Arabia
            13.4.1.1    Historical Trend (2018-2023) 
            13.4.1.2    Forecast Trend (2024-2032)
        13.4.2    United Arab Emirates
            13.4.2.1    Historical Trend (2018-2023) 
            13.4.2.2    Forecast Trend (2024-2032)
        13.4.3    Nigeria
            13.4.3.1    Historical Trend (2018-2023) 
            13.4.3.2    Forecast Trend (2024-2032)
        13.4.4    South Africa
            13.4.4.1    Historical Trend (2018-2023) 
            13.4.4.2    Forecast Trend (2024-2032)
        13.4.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    PayPal Holdings, Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Ant Group
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Stripe, Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Intuit Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Adyen Group
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Coinbase
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Square Capital, LLC
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Avant, LLC.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Klarna Bank AB
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Nu Pagamentos S.A
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Fintech Market: Key Industry Highlights, 2018 and 2032
2.    Global Fintech Historical Market: Breakup by Deployment Model (USD Million), 2018-2023
3.    Global Fintech Market Forecast: Breakup by Deployment Model (USD Million), 2024-2032
4.    Global Fintech Historical Market: Breakup by Technology (USD Million), 2018-2023
5.    Global Fintech Market Forecast: Breakup by Technology Model (USD Million), 2024-2032
6.    Global Fintech Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Fintech Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Fintech Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Fintech Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Fintech Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Fintech Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Fintech Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Fintech Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Fintech Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Fintech Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Fintech Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Fintech Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Fintech Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Fintech Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Fintech Market Structure

Key Questions Answered in the Report

What was the global fintech market size in 2023?

In 2023, the global fintech market attained a value of approximately USD 226.76 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 16.8% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 917.17 billion by 2032.

What are the major industry drivers?

The market is being driven by the rising use of fintech by the young population and the introduction of various favourable government initiatives.

What are the key industry trends of the global fintech market?

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.

What are the major regional markets of fintech, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the different deployment modes of fintech in the market?

On-premise and cloud are the different deployment modes of fintech in the market.

What are the various technologies in the market?

Application programming interface (API), artificial intelligence, blockchain, robotic process automation, and data analytics, among others, are the different technologies of the market.

What are the major applications of the market?

Banking, trading, taxation, and insurance, among others are the major applications of the market.

Who are the key market players, according to the report?

The major players in the market are PayPal Holdings, Inc., Ant Group, Stripe, Inc., Intuit Inc., Adyen Group, Coinbase, Square Capital, LLC, Avant, LLC., Klarna Bank AB, and Nu Pagamentos S.A, among others.

Analyst Review

The global fintech market attained a value of approximately USD 226.76 billion in 2023, 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 2024-2032, growing at a CAGR of 16.8%. The market is projected to reach around USD 917.17 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. On the basis of deployment mode, the fintech market is divided into on-premise and cloud. Based on technology, the market is categorised into application programming interface (API), artificial intelligence, blockchain, robotic process automation, and data analytics, among others. By application, the market is segmented into banking, trading, taxation, 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 PayPal Holdings, Inc., Ant Group, Stripe, Inc., Intuit Inc., Adyen Group, Coinbase, Square Capital, LLC, Avant, LLC., Klarna Bank AB, and Nu Pagamentos S.A, 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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We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

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We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

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