Financial Technology Market is estimated to be US$ 224.9 billion by 2030 with a CAGR of 8.6% during the forecast period
Financial Technology Market accounted for US$
98.7 billion in 2020 and is estimated to be US$ 224.9 billion by 2030 and is
anticipated to register a CAGR of 8.6%. The digitization of financial services
traditionally offered by banks, credit card firms, credit unions, investment
banking, and other enterprises in the finance industry is known as FinTech. From personal to corporate finance management, financial
technology has a wide range of applications. Private enterprises can compete
with traditional financial services – such as those given by major U.S. banks –
by focusing on distinct sections of the financial sector and using FinTech
software solutions and specialized, high-quality tools. FinTech makes financial management much easier,
allowing individuals to better manage their finances. FinTech solutions allow
customers to streamline their money management rather than struggling through
onerous spreadsheets and paper receipts, saving time and preventing user
errors.
The
report " Global Financial Technology Market, By Type
(Peer-To-Peer Money Transfers, Lending Services, Online Payments, and Mobile
Payments), By Application (Banks and Financial Consultancy), and By Region
(North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
·
In August 2021, IIFL launches
dedicated fund to invest in Indian fintech startups. The IIFL fintech fund,
sponsored by IIFL Finance and IIFL Securities, is already in advanced talks to
invest in a few financial technology companies, including Leegality and FinBox.
·
In August 2021, Equitas Small
Finance Bank is set to launch 'Equitech' - a Fintech Accelerator aimed at the
start-up ecosystem. It is a unique program designed to scale -up and help
Fintechs curate their products and define a go-to-market strategy. This will
help the Fintechs to reach the next level and take its product to the market in
a more targeted manner.
Analyst View:
Increased interest in new technology solutions
such as online, mobile payments, big data, alternative finance, and financial
management has increased the demand for simple technology that aids in
effective financial administration, favorably impacting the Financial
Technology market. In addition, the growing reliance on technology
in every sector to promote ease and flexibility in record-keeping acts as a
major driver for the adoption of financial technology, which is the other
driver for the growth of Financial Technology solution during the projection
period. Because evolving technologies such as
BlockChain technology are expected to pose a severe threat to legacy financial
systems, excluding the demand for an intermediary trust agent for payments
settlements is another factor driving to the market's growth in the coming
years.
Browse 60
market data tables* and 35 figures* through 140 slides and in-depth TOC
on ‘Global Financial Technology Market, By Type (Peer-To-Peer Money
Transfers, Lending Services, Online Payments, and Mobile Payments), By
Application (Banks and Financial Consultancy), and By Region (North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market
Trends, Analysis, and Forecast till 2029’
To know the upcoming trends and insights prevalent in this market,
click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Financial-Technology-Market-By-2669
Key Market Insights from the report:
The Global Financial Technology Market accounted
for US$ 98.7 billion in 2020 and is estimated to be US$ 224.9 billion by 2030
and is anticipated to register a CAGR of 8.6%. The Global Financial Technology
Market is segmented based on the type, application and region.
·
By Type, the
market is segmented into Peer-To-Peer
Money Transfers, Lending Services, Online Payments, and Mobile Payments), By
Application (Banks and Financial Consultancy.
·
By
Application, the market is segmented into Banks and Financial Consultancy.
·
By Region, the
Global Financial Technology Market is segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America
market is expected to be largest markets with respect to the financial
technology market.
Competitive Landscape:
The key players operating in the global Financial
Technology market includes Social Finance
Ltd., Stripe Inc., YapStone Inc., PayPal Inc., Adyen Ltd., Lending Club Ltd.,
Addepar Inc., Commonbond Inc.,, Robinhood Inc. and Wealthfront Ltd.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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Some Important Points Answered in this Market
Report Are Given Below:
·
Explains an
overview of the product portfolio, including product development, planning, and
positioning
·
Explains
details about key operational strategies with a focus on R&D strategies,
corporate structure, localization strategies, production capabilities, and
financial performance of various companies.
·
Detailed
analysis of the market revenue over the forecasted period.
·
Examining
various outlooks of the market with the help of Porter’s five forces analysis,
PEST & SWOT Analysis.
·
Study on the
segments that are anticipated to dominate the market.
·
Study on the
regional analysis that is expected to register the highest growth over the
forecast period
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