With 20.5% CAGR, Fintech (Financial Technology) Market to hit USD 699.50 Billion by 2030 – Top Companies, Growth Rate, Recent Trends, Business Opportunities and Forecasts Analysis – Adroit Market Research

Due to the expansion of e-commerce platforms and the increasing demand for innovative technology solutions, the North America region holds the largest shares of the fintech industry (financial technology).

/EIN News/ — Dallas, Texas, Sept. 20, 2022 (GLOBE NEWSWIRE) — The size of the global fintech (financial technology) market. was valued at US$110.59 billion in 2020 and is expected to increase at a CAGR of 20.5% to reach US$699.50 billion by 2030.

The global fintech (financial technology) market is expected to be driven by growing customer demand for e-commerce and mobile banking platforms that offer a more user-friendly environment for conducting financial transactions. The need for fintech in companies is expected to increase as banks and insurance companies increasingly replace outdated operating systems with cutting-edge technologies. In order to maintain their dominance in the market and offer cutting-edge financial technology solutions, investors are partnering with wealth management solution providers. The providers of fintech solutions can thus imagine various opportunities. Fintech is increasingly embracing technologies that offer greater efficiency, agility, and accuracy, such as blockchain, robotic process automation, application programming interface (API), data analytics, etc.

The global fintech (financial technology) market is expected to benefit from increasing adoption of digital payments, investments in technology-based solutions, supportive government regulations and increasing use of IoT devices in the coming years. The increasing use of e-commerce platforms in all economies, as well as increasing smartphone usage, have paved the way for more FinTech transactions. Examples of these innovations are mobile wallets, digitized money, paperless loans, etc. To improve the financial services offered, financial companies offer mobile-based financial apps. This helps them contact more customers and raise awareness of online services. As the need for ecommerce apps increases among users, solution providers are now offering financially secure ecommerce platforms.

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Scope of the Global Fintech (Financial Technology) Market:

metrics details
length of study 2019-2030
Market size in 2030 $699.50 billion
section covered By Technology, Deployment, Application, By Region,
After covered technology artificial intelligence, blockchain, application programming interface, distributed computing, data analysis, robotic process automation and others
Deployment covered On-premise, cloud bases), service (money transfer, payment, personal finance, insurance, credit, wealth management).
application covered Insurance, banking, securities and others
Regions Covered North America, Europe, Asia Pacific, Middle East and Africa & South America
Key players in profile Ant Financial, Oracle, Microsoft, IBM Corporation, Goldman Sachs, Cisco Systems, Blockstream Corporation, Bankable, NVIDIA Corporation, Tata Consultancy Services, Qudian, Sofi Lufax, Avant, Klarna and others.

According to the end-user industry, the banking segment holds the largest market share in 2020 and is expected to dominate the market in the projected period as well. Startups and banks are developing various payment methods and e-wallets in this space to support services and provide better and faster customer experience.

The advent of e-commerce solutions and the increasing need for cutting-edge technology solutions to provide security for users’ financial data and records has resulted in North America holding a significant share of the global fintech (financial technology) market. Over the forecast period, the fintech market in Asia Pacific is expected to grow rapidly owing to the increased investments by key players to provide solutions across the region.

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For example, in May 2020, Tencent and Allianz Insight, as the primary venture capital investor, invested €524 million in FinTech company N 26 as a later-stage venture capital investment. The mobile banking platform is operated by N 26. The sum invested here was the second largest venture capital investment in the FinTech sector in Europe.

Additionally, Allianz Group Corporate Venture Capital is another significant investment in the FinTech market in 2020. Allianz X intends to invest in digital growth companies that are part of the insurance ecosystem; his latest investment was in BIMA. Santander Group’s Mouro Capital CVC is seeking minority stakes in seed, early and late stage companies, the most recent of which is Uncapped.

Important points from the table of contents:

1 Introduction
2. Research methodology
3. Market Outlook
4. Fintech Market by Technology, 2019-2029 (Billion USD)
5. Fintech Market by Deployment, 2019-2029 (Billion USD)
6. Fintech Market by Service, 2019-2029 (Billion USD)
7. Fintech Market by Application, 2019-2029 (Billion USD)
8. Fintech by Region 2019-2029 (Billion USD)
9. Competitive Landscape
10. Company Profiles
11. Appendix

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