Global Fintech Market Size, Share, Price, Analysis, Key Players, Report, Forecast 2022-2027
The fintech market
Global Fintech market to be driven by the rapid digitization of financial and banking services in the forecast period 2022-2027
30 NORTH GOULD STREET, SHERIDAN, WYOMING, USA, September 8, 2022 /EINPresswire.com/ — The new report from Expert Market Research titled ‘Global Fintech Market Size, Report and Forecast 2022-2027’, provides an in-depth analysis of the global fintech market, assesses the market based on segments such as services and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, along with analyzing the market based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
Historical market size (2021): USD 135.90 billion
Forecast CAGR (2022-2027): 11.9%
Projected Market Size (2027): USD 266.9 billion
The pandemic led to an increase in online transactions and financing due to the implementation of shutdowns and cashless businesses, which strengthened the fintech industry in the historical period. The growth of e-commerce and the increasing use of smartphones, combined with internet penetration, are significantly catalysing the growth of the fintech industry. The increasing inclination towards digital payments and installation of fintech apps due to maintaining transparency and convenience is also driving the growth of the fintech industry. The technological advancements, such as machine learning, artificial intelligence, robotic process automation, application programming interface (API), blockchain, data analytics in financial services to automate financial services are estimated to boost the fintech industry during the forecast period.
Industry definition and main segments
Financial technology uses computer programs and technologies to improve banking and financial activities, such as insurance, investments, banking, risk management and trading compared to the traditional financial systems. Fintech is an emerging industry that helps businesses, business owners, consumers automate their financial operations and processes using algorithms and software.
Read the full report with table of contents: https://www.expertmarketresearch.com/reports/fintech-market
The fintech industry, by service, is divided into
Money transfer and payments
Savings and investments
Digital lending and lending marketplaces
Insurance
Second
The regional fintech markets include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market trends
The government initiatives to increase investment flows in the fintech sector contribute to the development of the industry. For example, the Pradhan Mantri Jan Dhan Yojana of the Government of India aims at financial inclusion of people who do not have bank accounts. Such initiatives play a decisive role in providing impulses to the market. Additionally, the digitization of payments and the adoption of the Unified Payments Interface are all measures taken by the Indian government to boost the fintech sector in the region. The efforts of industry players also drive the fintech industry. In April 2021, Social Finance, Inc. (SoFi) partnered with MotoRefi – an auto fintech startup, to introduce auto loan refinancing to help people save money on their car loans. Such developments are expected to drive the fintech industry during the forecast period.
Important market players
The largest players in the market are Social Finance, Inc. (SoFi), PayPal Holdings, Inc., Adyen NV, Avant, LLC, Clyde and Stripe, among others. The report covers market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, including the latest developments of these market players.
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