Covina, May 01, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of Fintech Market accounted for US$ 160.8 billion in 2022 and is estimated to be US$ 1,085.9 billion by 2032 and is anticipated to register a CAGR of 19.8% over the forecast period”
Fintech is the software application which is designed to automate and to digitize financial services of various industrial sector. Mobile banking is the common example of fintech application. Further, 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 boost the adoption of Fintech technologies which, in turn contributed the market growth. Growing adoption of smartphones, laptops and online banking has provided lucrative opportunities in target market growth. Growing fintech startups in emerging economies has further facilitated the demand for Fintech market growth.
What are the recent news in the Fintech Market?
- In July 2022, GoHenry acquired Pixpay to strengthen its strong position in market and to expand its business in U.S. market. The company provides financial education app and Visa debit cards and strengthen its position in youth banking.
- In September 2022, US equity management fintech Carta acquired UK’s Capdesk. This acquisition allows Carta to take on Capdesk’s network of European startup cap tables and to expand its presence in European market.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Accounted in 2022 | US$ 160.8 billion |
| Estimated to be in 2032 | US$ 1,085.9 billion |
| CAGR | 19.8% |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Technology - Cyber-security, Artificial Intelligence, Cryptography, Public Cloud Infrastructure, Biometrics & Identity Management, and Others By Enterprise Size - Small Enterprise, Medium Enterprise and Large Enterprise. By Application - Trading, Banking, Insurance, Taxation, and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
What is Prophecy’s Analyst View on Fintech Market?
Adoption of advanced financial technologies by various companies in order, to secure their money transaction process and digital footprint has facilitated the demand for Fintech market growth. Growing acquisition of companies to strengthen their position in market is anticipated to increase the demand for Fintech market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Click Here to Get Free Sample Copy of this Report@
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/5088
What are new developments and trends of Fintech Market?
The Fintech market is constantly evolving, with new developments and trends emerging regularly. Key recent trends include the adoption of digital currencies and blockchain technology, expanded services beyond traditional banking, and increased use of artificial intelligence and machine learning.
Mobile banking and payment solutions are becoming more prevalent, as are open banking initiatives that enable greater collaboration between banks and fintech companies. Cybersecurity and data privacy are increasingly important, as are financial inclusion initiatives to make financial services more accessible. Non-traditional lending and investment options are gaining popularity, and the COVID-19 pandemic has accelerated the adoption of digital financial services.
What are Growth Factor of Fintech Market?
- Technological advancements: Advances in technology have enabled fintech companies to provide innovative products and services that are convenient and cost-effective for customers.
- Increasing adoption of digital payments: With the rise of e-commerce and mobile payments, there is an increasing demand for digital payment solutions that are fast, secure, and reliable.
- Growing customer demand for personalized 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 is creating new opportunities for fintech companies to expand their services to new markets and customers.
- Investment in fintech: Venture capitalists and other investors are pouring large amounts of capital into the fintech industry, which is driving innovation and fueling growth.
- Increasing financial inclusion: Fintech companies are helping to bridge the gap between underbanked populations and financial services, by offering new and innovative solutions to provide financial access to these populations.
- Changing consumer behavior: Consumer behavior is changing, with more people opting for digital financial services over traditional banking methods, creating new opportunities for fintech companies to grow and expand their services.
Competitive Landscape & their strategies of Fintech Market:
The prominent players operating in the Fintech Market includes:
- IBM Corporation
- Cisco Systems Inc
- Blockstream Corporation Inc
- Avant LLC
- Bankable
- Microsoft
- Oracle
- NVIDIA Corporation
- Tata Consultancy Services Limited
- Goldman Sachs
Reasons for buying this report:
- Potential for high growth
- Disruption of traditional financial services
- Diversification of investment portfolio
- Innovation
- Increasing global adoption
- Increased efficiency and lower costs
- Favorable government regulations
- Positive social impact
You can customize this Report As per Your Requirement Click Here @
https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/5088
Key questions answered in this report:
- What is the specific area of Fintech the company or investment is focused on?
- What is the market size and opportunity for the Fintech product or service?
- What is the competitive landscape in the specific area of Fintech?
- What is the level of innovation and differentiation of the company or investment?
- What is the revenue model and potential for profitability?
- What is the growth potential of the company or investment?
Please Find Below Some Related Reports:
Financial Technology Market - is estimated to be US$ 224.9 billion by 2030 with a CAGR of 8.6% during the forecast period
RegTech Market - is estimated to be US$ 57.5 billion by 2032 with a CAGR of 8.2% over the forecast period (2022-2032)
FinFET Technology Market - is estimated to be US$ 410.9 billion by 2032 with a CAGR of 26.3% during the forecast period
