FinTech Market Worth is Predicted to Grow USD 16652680 Billion by 2028 with a CAGR of 13.9% | Valuates Reports

FinTech Market Size

The global fintech market size is projected to reach US$ 16652680 million by 2028 from US$ 6588780 million in 2021 at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period 2022-2028. Key drivers of the fintech market include the rise in digital banking and a growing interest in cryptocurrencies, blockchain will spur market growth in the coming years. Also, a Platform as a Service( PAAS) solution is emerging which will contribute equally towards growth.

Download Free Sample: https://reports.valuates.com/request/sample/QYRE-Othe-2W194/finTech_market

Rise in Digital Banking, growing interest in cryptocurrencies, blockchain, and the emergence of PAAS solutions

Digital Banking has seen an upward trajectory with the pandemic only bolstering its rise. Several financial institutions are leveraging fintech solutions to provide digital-only banking services to customers. This has removed the need for physical interaction. Also, institutions are now exploring upcoming technologies such as cryptos and blockchain for effective regulatory, compliance, and audit management. Blockchain has several benefits as it secures both ends of the transaction funnel and helps in fighting fraud. Moreover, it can also accelerate asset transfer, payments, investments and help in cybersecurity. Further with the advent of PAAS solutions customer data APIs appear as a reliable solution offering efficiency and security. Thus the rise in digital banking, the advent of PAAS solutions, and growing interest in blockchain, cryptos will accelerate the growth of the market in the coming years.

Rapid boom in embedded finance

Embedded finance has taken the global fintech market by storm. The seamless integration of financial services into traditional non-financial platforms allows customers access to funds for online shopping and investment transactions. This makes the process easy to execute and inexpensive. Market players such as Klarna offer customers exactly what they need in the form of Buy Now Pay later solutions for online shopping. Thus the rapid boom in embedded finance is going to drive the growth of the fintech market during the forecast period.

Rising investments in the fintech industry

Global investments have been rising rapidly as companies are now under pressure to enhance their digital capabilities. This is being done quickly through investments, partnerships, or acquiring fintech. PE deals and corporate venture capital investments are reaching newer heights with each passing day. Thus rising investments globally will create ample opportunities for the growth of the fintech market in the coming years. The digital transformation wave is driving the surge in investments,

Fintech Market Share Analysis

Based on type, The AI segment will provide lucrative opportunities for growth in the fintech market share due to the growing use of AI interfaces, chatbots for efficient customer service. Blockchain technology will grow the fastest during the forecast period.

Based on region, North America is expected to provide lucrative opportunities for growth in the fintech market share due to the rising adoption and development of advanced technologies in the fintech sector. Asia-pacific will grow the fastest due to rising investments and favorable banking/regulatory policies.

Fintech Market by Type
• API
• AI
• Blockchain
• Distributed Computing
• Cryptography

Fintech Market by Application
• Financing
• Asset Management
• Payments

Fintech Market by Region
• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Inquire for Regional Report: https://reports.valuates.com/request/regional/QYRE-Othe-2W194/finTech_market

Major Players in the Fintech Market
• Ant Financial
• Adyen
• Qudian
• Xero
• Sofi
• Lufax
• Avant
• ZhongAn
• Klarna

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2W194/fintech

Similar Reports:

1. Payment processing solutions market: https://reports.valuates.com/market-reports/QYRE-Auto-25J944/global-payment-processing-solutions

2. Trade Finance Market: https://reports.valuates.com/market-reports/QYRE-Auto-6X849/global-trade-finance

3. AI in Fintech Market: https://reports.valuates.com/reports/QYRE-Auto-21V336/global-ai-in-fintech

4. Digital Banking Market: https://reports.valuates.com/market-reports/QYRE-Auto-4N473/global-digital-banking

5. Insurtech Market: https://reports.valuates.com/market-reports/QYRE-Auto-35M2175/global-insurtech

Phone:
U.S. (TOLL FREE) : +1 (315) 215-3225
India: +91 8040957137

Email Id:
Please reach us at sales@valuates.com

Valuates offers an extensive collection of market research reports that helps companies to take intelligent strategical decisions based on current and forecasted Market trends.

This release was published on openPR.