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Global FinTech Market Size, Share & Growth Analysis, [2030] | CAGR of 17%

According to Fortune Business Insights, the global fintech market size is projected to reach USD 882.30 billion in 2030, at a CAGR of 17% during the forecast period, 2023-2030

FinTech Market

Forecast, 2023 – 2030
Forecast, 2023 – 2030

Pune, India, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The global FinTech market size was valued at USD 257.26 billion in 2022 and is expected to reach USD 882.30 billion by 2030, exhibiting a CAGR of 17.0% over the study period. Fortune Business Insights™ provides this information in its latest research report, titled “FinTech Market Forecast, 2023-2030”.

Different financial technology tools, solutions, and services are delivered to other businesses (B2B) as a service by FinTech companies. The market growth can be credited to the incorporation of ML and AI technologies in financial technology. The deployment of AI in FinTech allows smarter, more intuitive, and quicker financial interactions.


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Key Industry Development:

April 2023 – Rapyd inked a deal with Splitit, a payment installment platform provider. Splitit’s installment platform to Rapyd’s network of merchants and marketplaces will be brought through this deal, which will further deliver a quick checkout experience to customers.


Key Takeaways

  • FinTech market size in North America was USD 89.61 billion in 2022

  • Surge in Adoption of Digital Technology in Financial Services Propelled the Market Growth

  • Ability of Blockchain to Record Transparent Transactions to Foster the Segment Growth

  • Deployment of Advanced Analytics by FinTech Solutions to Escalate the Fraud Monitoring Segment Growth

  • Integration Between Market Players and Financial Technology-Enabled Banks to Spur the Segment Growth


Discover the Leading Players Featured in the Report:

“Companies leading the global fintech market are Rapyd Financial Network Ltd. (U.K.), Unicorn Payment Ltd. (China), Stripe, Inc. (Ireland), Mastercard (U.S.), Finastra (U.K.), Fiserv, Inc. (U.S.), Block Inc. (Square) (U.S.), Adyen (Netherlands), Plaid Inc. (U.S.), Neo Mena Technologies Ltd. (U.S.)”


Report Scope & Segmentation

Report Coverage

Details

Forecast Period

2023 to 2030

Forecast Period 2023 to 2030 CAGR

17%

2030 Value Projection

USD 882.30 Billion

Base Year

2022

FinTech Market Size in 2022

USD 257.26 Billion

Historical Data for

2017 to 2021

No. of Pages

120

Segments Covered

Deployment, Application, End User and Geography


Browse Complete Report Details: https://www.fortunebusinessinsights.com/fintech-market-108641


Drivers and Restraints:

Deployment of Cloud Computing Technology in FinTech Services Optimizes Operations, Fueling the Market Growth

One of the major factors impelling the market growth is the integration of cloud computing technology in FinTech services, which optimizes operations. Moreover, flexibility is provided by cloud technology, which allows financial technology service providers in the rapid development, iteration, and deployment of their solutions.

However, problems associated with data privacy and security concerns may impede market growth.


Segmentation

By Technology

  • AI

  • Blockchain

  • RPA

Others (Cryptography, Biometrics, and others)

By Application

  • Fraud Monitoring

  • KYC Verification

  • Compliance & Regulatory Support

By End Use

  • Banks

  • Financial Institutions

  • Insurance Companies

  • Others

By Region

  • North America

  • Europe

  • Asia Pacific

  • Middle East & Africa

  • South America


Regional Insights:

North America Dominates Due to Surging Need for Customization

North America market secures the largest share. The regional growth can be attributed to the rising need for customization, regulatory compliance, and cross-selling opportunities.

The Asia Pacific market is poised to grow at the highest CAGR during the forecast period. The mobile-first markets in the region include Japan, South Korea, India, and China, and the high mobile penetration is served by the financial technology service, which makes financial services more accessible. This factor is driving the regional growth.


Quick Buy - FinTech Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/108641


Competitive Landscape:

Companies Focus on Partnerships to Deliver Enhanced Solutions

Major players in the market are launching new products for the retention and attraction of their customer base. Moreover, several players are focusing on strategies such as mergers and acquisitions, joint ventures, and others. Many companies are also entering partnerships to increase their share while offering enhanced solutions to customers.


FAQs

How big is the fintech market?

The global fintech market size was USD 257.26 billion in 2022. It is expected to reach USD 882.30 billion by 2030.

How fast is fintech market growing?

The fintech market will exhibit a CAGR of 17% during the forecast period, 2023-2030.


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

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