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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Fintech Market Regional Analysis
Strong BFSI Sector in North America To Bolster Demand in the Region
North America represents a significant portion of the fintech market share due to innovations by key players and the high adoption of technology in the BFSI sector. The increasing proliferation of start-ups such as Alinea, OneVest, and Brex, among others in countries such as the United States and Canada also paves way to several fintech market opportunities. Meanwhile, Europe is also witnessing healthy growth due to the development of alternative finances and rising digital investments in the region.
The United Kingdom has emerged as a leading fintech destination in Europe, supported by growing venture capital investments, a deep talent pool, and a favourable regulatory environment. As per the UK government, London is home to more than 90,000 professional and financial service companies, and regions like Edinburgh, Belfast, Newcastle, Manchester, Bristol, and Leeds are emerging as fintech hotspots. Evolving payment technology, the rise of digital baking, and rising R&D activities by key players support the Europe fintech market landscape.
Meanwhile, the fintech industry in Asia Pacific is anticipated to grow at the fastest pace in the forecast period owing to the rising demand for personalised banking services and increasing investments in fintech startups in the region. For instance, in January 2024, Indian fintech startup FinAGG Technologies announced that it had raised USD 11 million as a part of its Series A funding. The funding is aimed at expanding the company’s global outreach, product innovations, and online and offline presence.
Reportedly, China enjoys 87% of fintech adoption whereas Singapore, South Korea, and Hong Kong boast fintech penetration of 67%. This trend is expected to grow in the coming years with the rise of neobanks, the development of convenient fintech solutions, and the growing adoption of tech-enabled fintech services.
Fintech Market Report Snapshots
Fintech Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global fintech market attained a value of approximately USD 226.71 billion.
The market is projected to grow at a CAGR of 16.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 917.17 billion by 2032.
The market is being driven by the rising use of fintech by the young population and the introduction of various favourable government initiatives.
The market is aided by technological advancements, and the rise of the e-commerce sector, which has increased the demand for remote management of finances.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
On-premise and cloud are the different deployment modes of fintech in the market.
Application programming interface (API), artificial intelligence, blockchain, robotic process automation, and data analytics, among others, are the different technologies of the market.
Banking, trading, taxation, and insurance, among others are the major applications of the market.
The major players in the market are PayPal Holdings, Inc., Ant Group, Stripe, Inc., Intuit Inc., Adyen Group, Coinbase, Square Capital, LLC, Avant, LLC., Klarna Bank AB, and Nu Pagamentos S.A, among others.
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