FinTech Market size is expected to reach USD 330 billion by the end of 2027, with growth at a CAGR of 24% during the forecast period 2022-2027

CLEVELAND, OHIO, USA, January 24, 2022 /EINPresswire.com/ -- FinTech Market Overview Analysis:

According to the report published by DataM Intelligence, the Global FinTech Market size is expected to reach USD 330 billion by the end of 2027, with growth at a CAGR of 24% during the forecast period 2022-2027. FinTech (Financial technology) is the application of innovative technological enhancements to products and services in the financial industry and focuses on automating and improving the utilization of financial services.

FinTech Market Growth Opportunities:

As FinTech allows producing convenience services & helping maintain transparency, in terms of monetary inclusions, it's become one of the key driving forces of the market. Additionally, several financial bodies are implementing advanced technologies to produce integrated & value-added services to customers and an increasing number of collaborations between national regulators & financial institutions are major aspects that boost the growth of the fintech market.

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However, privacy & security concerns, because of the massive movement of consumer data and varied & conflicting regulations across different jurisdictions hamper the growth of the market. Growing economies produce significant chances for fintech technology firms to enhance their assistance, due to factors like development in the middle-class segment, speedy urbanization, increase in literacy level, and rise in tech-savvy youth generation. Acceptance of fintech services has developed at a swift rate in the last few years amongst clients. Fintech help SMEs achieve their financial requirements, such as banking and payments, financial management, financing, and insurance. Cybersecurity is becoming a disturbing challenge in information technology. Firms are at risk to financial loss due to cyber-attacks, so they invest a lot in FinTech. FinTech not only ensures the security of financial information but also instills suitable transactions, leading to soft operations and perfect cash flow in the financial system.

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FinTech Market Detailed Segmentation:

By Technology:
• Data Analytics
• Artificial intelligence
• Cybersecurity
• Robotic process automation
• Biometric and Identity management
• Blockchain
• Others

By Service:
• Payments
• Fund Transfer
• Personal Finance
• Personal Loans
• Insurance
• Wealth Management

By Application:
• Trading
• Banking
• Insurance
• Taxation
• Others

Geographical Classification of the Global Market:

• North America – USA, and Canada
• Europe – Germany, Italy, France, London, UK, and rest of the European countries
• Asia Pacific – India, China, Japan, Australia, and rest of the APAC Countries
• Latin America – Mexico, Brazil, and Argentina
• Middle East and Africa – KSA, UAE, Middle East countries, and South Africa

Regional Insights Analysis:

North America region was the largest region in the global FinTech market, accounting for 40.5% of the global fintech market in 2019. It was followed by the Asia Pacific region, Western Europe region, and other regions. Coming the future, the speedy growing regions in the FinTech industry will be Asia-Pacific and South America, where growth will be at CAGRs of 134% and 12.2% correspondingly.

Key Players Covered in the Global Market Report:

Some of the key companies covered in the global market report are; PayPal Holdings, Inc, Ant Financial Services Group, Tencent Holdings Ltd., Square, Inc, Envestnet, Inc, Stripe, Coinbase Inc, Robinhood Markets Inc, Ripple Labs Inc, Social Finance Inc, Credit Karma Inc, Circle Internet Financial Inc, Plaid Technologies Inc, Avant LLC, and Gusto.

Why purchase the report?

• Visualize the composition of the Fintech Market across each indication, regarding type and application highlighting the critical commercial assets and players.
• Identify business opportunities in Fintech Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Fintech Market levels 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the essential Fintech Market of all major market players

Sai Kiran
DataM Intelligence 4Market Research LLP
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