Bharat Book Bureau Provides the Trending Market Research Report on “Global Fintech Market (2018-2023)” under
Financial Services category. The report offers a collection
of superior market research, market analysis, competitive intelligence and
industry reports.
The use of mobile devices and
technology-based solutions is propelling the demand for financial and banking
solutions, which can be accessed through personal devices. Banks and firms are
investing heavily in technology-based solutions, competing with contemporary
fintech companies. This is the key growth driver for the Global
Fintech Market, which will pin its worth at approximately USD 305.7 Bn
by 2023, expanding at a CAGR of 22.17% during the 2018-2023 period.
Request a free sample copy of Fintech Market Report @ https://www.bharatbook.com/marketreports/sample/reports/1436174
Service segment insights
The various services provided in
the fintech sector are regtech, payment/billing, insurtech, money
transfer/remittance, mortgage/real estate, and others (lending, capital market,
and wealth management). Among these segments, the payment/billing services will
be the major growth driver in the global market, leading to a revenue
generation of USD 207.11 Bn by 2023. This growth can be attributed to
contactless cards and the emergence of retail-focused fintech companies looking
to expand the use of this functionality by taking it to every corner of
commerce. Popularity of payment apps like GoUrl, Cayan, Stripe, and Amazon Pay,
among customers and retailers, will further drive the market. Regtech is
expected to expand at a CAGR of 22.05%, followed by payment/billing. This is
mainly due to the implementation of new regulations pertaining to the fintech
sector.
Technology segment insights
The major technologies involved in
the fintech sector are artificial intelligence (AI), Blockchain, cryptography,
biometrics and identity management, cyber-security, and robotic process
automation (RPA). Major growth will be witnessed in the areas of AI and
Blockchain, attracting major investments during the forecast period
(2018-2023). AI interfaces and chatbots have redefined customer services, and
its growing popularity will enable the AI-oriented fintech market to expand at
a CAGR of 21.72% during the 2018-2023 period. Blockchain-based fintech
companies are also gaining traction, having received significant investments in
2018.
Regional insights
North America is the leading
contributor to the global fintech market and is expected to reach USD 80.8 Bn
by 2023. However, the pace of growth in the Asia-Pacific (APAC) region is
anticipated to be the highest, expanding at a CAGR of 43.34% during the
2018-2023 period. The growth can be attributed to an increasing number of
start-ups catering to most of the financial applications, including banking,
insurance, and wealth management. In the APAC fintech market, China, Japan,
South Korea, Australia, and India are the key contributing countries. Latin
America (LATAM), on the other hand, is slowly emerging as one of the prominent
regions in terms of fintech development, majorly driven by initiatives being
undertaken in Mexico and Brazil.
Companies covered
• Robinhood
• Ant Financial
• Paytm
• Shanghai Lujiazui International
Financial Asset Exchange
• Oscar Insurance Corporation
• Credit Karma
• Kabbage
• Atom Bank
• Onfido
• Uipath
Browse our full report with Table of Contents : https://www.bharatbook.com/marketreports/global-fintech-market-2018-2023-/1436174
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