[NEW REPORT] The fintech market is estimated to be USD 1,085.9 billion by 2032 with a CAGR of 19.8% during the forecast period

Covina, May 1, 2023 (GLOBE NEWSWIRE) —

“According to the latest research study, the demand of

The fintech market

accounted for

160.8 billion dollars

in

2022

and estimated to be

USD 1,085.9 billion

of

2032

and is expected to register a CAGR of

19.8%

over the forecast period”

Fintech is the software application designed to automate and digitize financial services from various industry sectors. Mobile banking is the common example of fintech applications. Furthermore, payment apps, robo-advisors, crypto apps, peer-to-peer lending apps and robo-advisors are other applications of fintech technology.

Rapid growth in cloud computing and artificial intelligence and cloud computing has increased the adoption of Fintech technologies which in turn contributed to the market growth. Increasing use of smartphones, laptops and online banking has provided lucrative opportunities in target market growth. Growing fintech startups in emerging economies have further facilitated the demand for fintech market growth.

What is the latest news in the Fintech market?

• In July 2022, GoHenry acquired Pixpay to strengthen its strong position in the market and expand its operations in the US market. The company supplies a financial education app and Visa debit card and strengthens its position in youth banking.

• In September 2022, US asset management fintech Carta acquired the UK’s Capdesk. This acquisition enables Carta to take on Capdesk’s network of European startup tables and expand its presence in the European market.

Report scope:

What is Prophecy’s analyst view on the Fintech market?

Adoption of advanced financial technologies by various companies to secure the money transaction process and digital footprints has facilitated the demand for Fintech market growth. Increasing acquisition of companies to strengthen their position in the market is expected to increase the demand for Fintech market growth. As a result of this, market competition is intensifying, and both large international companies and start-ups are fighting to establish a position in the market.

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What are new developments and trends in the Fintech Market?

The fintech market is constantly evolving, with new developments and trends emerging regularly. Key trends include the use of digital currencies and

blockchain

technology, extended services beyond traditional banking, and increased use of artificial intelligence and machine learning.

Mobile banking and payment solutions are becoming more widespread, as are open banking initiatives that enable greater collaboration between banks and fintech companies.

Cyber ​​security

and data protection are increasingly important, as are financial inclusion initiatives to make financial services more accessible. Non-traditional lending and investment options are becoming increasingly popular, and the COVID-19 pandemic has accelerated the adoption of digital financial services.

What is the growth factor of the Fintech market?

• Technological advances:
  
  Advances in technology have enabled fintech companies to offer innovative products and services that are convenient and cost-effective for customers.

• Increasing use of digital payments
  
  : With the rise of e-commerce and mobile payments, there is a growing demand for digital payment solutions that are fast, secure and reliable.

• Increasing demand for personal services:
  
  Customers expect personalized financial services tailored to their needs, and fintech companies are well positioned to deliver on this demand.

• Regulatory changes:
  
  Regulatory changes and initiatives such as open banking are creating opportunities for fintech companies to offer new services and collaborate with traditional financial institutions.

• Globalization:
  
  The globalization of financial services creates new opportunities for fintech companies to expand their services to new markets and customers.

• Investing in fintech:
  
  Venture capitalists and other investors are pouring large amounts of capital into the fintech industry, which is driving innovation and growth.

• Increasing financial inclusion:
  
  Fintech companies help bridge the gap between underbanked populations and financial services, by providing new and innovative solutions to provide financial access to these populations.

• Changing consumer behavior:
  
  Consumer behavior is changing, with more people choosing digital financial services over traditional banking methods, creating new opportunities for fintech companies to grow and expand their services.

Competitive landscape and their strategies for Fintech Market:

The prominent players operating in the Fintech market include:

• IBM Corporation

• Cisco Systems Inc

• Blockstream Corporation Inc

• Avant LLC

• Bankable

• Microsoft

• Oracle

• NVIDIA Corporation

• Tata Consultancy Services Limited

• Goldman Sachs

Reasons to buy this report:

• Potential for high growth

• Disruption of traditional financial services

• Diversification of the investment portfolio

• Innovation

• Increasing global adoption

• Increased efficiency and lower costs

• Favorable government regulations

• Positive social impact

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Key questions answered in this report:

1. What is the specific area within the Fintech company or investment is focused on?

2. What is the market size and opportunity for the Fintech product or service?

3. What is the competitive landscape in the specific area of ​​Fintech?

4. What is the level of innovation and differentiation of the company or investment?

5. What is the revenue model and potential for profitability?

6. What is the growth potential of the company or investment?

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–

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FinFET technology market

–

is estimated to be USD 410.9 billion by 2032 with a CAGR of 26.3% during the forecast period

Shweta R
Prophecy Market Insights
U.S.: +1 860 531 2574
APAC: +917775049802
Email- [email protected]
Web: www.prophecymarketinsights.com