Fintech market 2023-2027; A descriptive analysis of the five forces model, market dynamics and segmentation

NEW YORK, 18 January 2023 /PRNewswire/ — According to Technavio is global fintech market size is estimated to grow by USD 277.22 billion from 2022 to 2027. The market is estimated to grow by a CAGR of 20.5% in the forecast period. APAC held the largest share of the global market in 2022 and the market in the region is estimated to witness an incremental growth of 39%. For more insight on market size, Request a sample report

The Fintech Market – Five Forces
The global cloud data warehouse market is fragmented and the five forces analysis covers–

• Buyers’ bargaining power

• The threat from new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• Interpretation of porter’s five models helps to strategize the business, for full details – buy the report!

Fintech market – Customer landscape

The report includes the adoption lifecycle of the market, from the innovator stage to the laggard stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key buying criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Fintech Market – Segmentation Assessment

Segment overview
Technavio has segmented the market based on application (on-premise and cloud), end user (banking, insurance, securities and others) and geography (APAC, North America, Europe, South Americaand Middle East and Africa).

• Market share growth for the local segment will be significant during the forecast period. Large financial institutions that handle multiple transactional information daily prefer local fintech software solutions. On-premise solutions provide the optimal level of data security with physical access controls and security protocols. These solutions also provide a secure environment during regular software upgrades.

Geography overview
By geography, the global fintech market is segmented into APAC, North America, Europe, South Americaand Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fintech market.

The story continues

• APAC will account for 39% of the growth in the global market during the forecast period. Factors such as high growth potential, rapid adoption of technologies such as blockchain across industries, and an influx of SMEs are driving growth in the regional market.

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The fintech market – Market dynamics

Key factor driving market growth

• The market is driven by the impact of digitalisation.

• Companies all over the world are adopting digital solutions to improve their business processes.

• The use of technology helps companies make effective decisions in real time.

• The increase in digitization has led to an increase in the use of connected devices and advanced and diverse machines across business processes.

• This leads to the generation of huge amounts of data, primarily due to process automation and the use of digital media by customers.

• Fintech software allows organizations to process this data and use it in business-related decision-making processes to understand consumer behavior and market patterns.

• Thus, with increasing digitization, the use of fintech software will increase significantly during the forecast period.

Leading trends affecting the market

• The growing popularity of blockchain is one of the most important trends in the market.

• Blockchain technology is gaining popularity in the BFSI sector. Banks use this technology for various tasks such as authentication processes and verification of documents.

• The technology ensures complete business-to-business transfers at significantly low costs and with minimal decentralization.

• Banks’ reliance on blockchain technology is expected to increase significantly during the forecast period due to the potential myriad benefits of the technology.

• This trend is expected to promote the growth of the global fintech software market during the forecast period.

Major challenges that hinder market growth

• Privacy and security concerns linked to fintech solutions challenge growth in the market.

• Fintech solutions enable payment service providers to collect data on customer profiling, behavior and data mining.

• Indiscriminate use of this data can violate customers’ privacy. In addition, the use of location-based services increases the risk of personal data being compromised.

• Moreover, as smartphones are used in real-time monetary transactions, data theft can lead to financial losses for consumers and can lead to reputational losses for service providers.

• Such risks reduce the growth potential in the market.

Drivers, trends and challenges are the factors for market dynamics that tell about the consequences and sustainability for the businesses, find some insights from an example report!

What are the key data covered in this fintech market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the fintech market between 2023 and 2027

• Accurate estimation of the size of the fintech market and its contribution to the market focusing on the parent market

• Accurate predictions of upcoming trends and changes in consumer behavior

• Fintech marketplace industry growth across APAC, North America, Europe, South Americaand Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information on suppliers

• Comprehensive analysis of factors that will challenge the growth of fintech market vendors

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Table of contents:

1 Summary

2 Market landscape

3 Market size

4 Historical market size

5 Analysis of five forces

6 Market Segmentation by Application

7 Market segmentation by end user

8 Customer landscape

9 Geographical landscape

10 drivers, challenges and trends

11 Supplier landscape

12 Supplier analysis

13 Appendix

About us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, comprehensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio