Fintech Market 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), and By Region - Trends, Analysis and Forecast till 2032

Fintech Market accounted for USD 160.8 Billion in 2022 and is estimated to be USD 1,085.9 Billion by 2032 and is anticipated to register a CAGR of 19.8%

Fintech (Financial Technology) is the integration of technology by financial services companies, some examples are Lending Club, Personal Capital, Wealthfront and Kabbage. Fintech has become the innovative technology used in delivery of financial services.

Growing adoption of digital technology has become the major contribution in target market growth. Rising adoption of smartphones, computers, laptops has further, created lucrative opportunities for adoption of Fintech technology across the globe.

Growing adoption of Digital Technologies to fuel market growth

Growing adoption of digital technologies has become a major factor in Fintech market growth. In today’s digital era demand for mobile banking applications is growing rapidly which has propelled the demand for market growth. Rising adoption of digital technologies in business sector by insurance companies and banks has provided lucrative opportunities in Fintech market growth. Adoption of advanced financial technologies by various companies in order, to secure their money transaction process and digital footprint has further, facilitated the demand for Fintech market growth.

Growing Fintech startups to fuel market growth

Growing Fintech startups has become the major contribution in Fintech market growth. For instance, in November 2022, Indian Fintech companies announced 23 fintech startups who gave demos of their new launched innovative products and services to high profile jury in November month. Indian FinTech Forum presented high-potential fintech startups for 2022 which includes:

Arthan Finance ARTH, Bimaplan, BankSathi, BondEvalue, Biz2X India, Cashfree Payments, CASHe, Decentro, CredAble, Fintso, Financepeer, GroMo, Finverv, KYC Hub, InsuranceDekho, New Street Technologies, Multipl, Pismo Labs, NFTBOOKS, Revfin, Progcap, Tazapay and Rupifi.

New Fintech startups provides financial technology platform, contactless payments, and SaaS-enabled services which helps companies to embed credit in ecosystem via, plug and play design to diversify credit portfolio of lending institutions.

Restrains:

However, stringent rules and regulation change in financial technology applications as per market requirement has restrained target market growth. Further, extra charges per transaction charged by several platforms and lack of awareness about transaction apps has hampered the demand for Fintech market growth.

Fintech Market is segmented based on Technology, Enterprise Size, Application and Region.

Technology Insight

On the basis of Technology, Fintech Market is segmented into Cyber-security, Artificial Intelligence, Cryptography, Public Cloud Infrastructure, Biometrics & Identity Management, and Others. Artificial Intelligence is expected to dominate the target market growth due to its advancement and growing adoption by users.

Enterprise Size Insights

On the basis of Enterprise Size, Fintech Market is segmented into Small Enterprise, Medium Enterprise and Large Enterprise.

Application Insights

On the basis of Application, Fintech Market is segmented into Trading, Banking, Insurance, Taxation, and Others. Banking application segment is expected to dominate the target market growth due to growing adoption of mobile banking services.

Regional Insights:

On region the Fintech Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period. Moreover, growing adoption of advanced technologies and e-commerce platforms, high disposable income, is anticipated to increase demand for Fintech in the region.

Asia Pacific market is expected to expand rapidly over the forecast period due to growing investment by key players to provide Fintech solutions and adoption of digital technologies across the region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Fintech Market report based on Technology, Enterprise Size, Application and Region.

Fintech Market, By Technology:

• Cyber-security
• Artificial Intelligence
• Cryptography
• Public Cloud Infrastructure
• Biometrics & Identity Management
• Others

Fintech Market, By Enterprise Size:

• Small Enterprise
• Medium Enterprise
• Large Enterprise

Fintech Market, By Application:

• Trading
• Banking
• Insurance
• Taxation
• Others

Fintech Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating 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 and others.

• In April 2023, Houston fintech company launched new tool “Business Health Score” for startups and small businesses to navigate their business and financial health. New launched solution provide entrepreneurs with composite number by determining credit history, financial performance & position and financial & business management practices.
• In December 2022, EQT Private Equity completed acquisition of Billtrust in $1.7 billion. This acquisition will provide greater resources & flexibility to build leadership position in market.
• In October 2022, Stubben Edge acquired Finpoint to strengthen its position in market and to expand its line-up of services and network of brokers and independent financial advisers to small and medium sized enterprises.

• IBM Corporation
• Cisco Systems Inc.
• Blockstream Corporation Inc.
• Avant LLC.
• Bankable
• Microsoft
• Oracle
• NVIDIA Corporation
• Tata Consultancy Services Limited
• Goldman Sachs