Fintech Technologies Market Outlook – 2030
The global fintech technologies market size was valued at $110.57 billion in 2020, and is projected to reach $698.48 billion by 2030, growing at a CAGR of 20.3% from 2021 to 2030. Financial technology (Fintech) is the application of new technological advancements to products & services in the financial industry and aims at improving & automating the delivery & use of financial services. Moreover, it further aims to compete with existing traditional financial methods in delivery of financial services by implementing several technologies such as application programming interface (API), artificial intelligence (AI), blockchain, and data analytics.
As FinTech allows to provide convenience services & help maintain transparency, in terms of financial inclusions, it has become one of the key driving forces of the market. In addition, several financial bodies are implementing advance technologies to provide integrated & value-added services to customers and increasing number of collaborations between national regulators & financial institutions are major factors that propel fintech technologies market growth of the market.
However, privacy & security concerns, owing to massive movement of consumer data and varied & conflicting regulations across different jurisdictions hamper growth of the market. On the contrary, developing economies offer significant opportunities for fintech technology companies to expand their offerings, owing to factors such as growth in the middle-class segment, rapid urbanization, rise in literacy level, and increase in tech-savvy youth generation. Moreover, mandatory application of the General Data Protection Regulation (GDPR) guidelines is expected to provide lucrative opportunities during the forecast period
By Deployment Mode
On-Premise segment will maintain the lead throughout the forecast period
The report focuses on growth prospects, restraints, and trends of the fintech technologies market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the fintech technologies market outlook
By Application
Payment & Fund Transfer segment will dominate the market during 2021 - 2030
Segment Overview
The fintech technologies market is segmented on the basis of deployment mode, application, technology, end user, and region. By deployment mode, it is divided into on-premise and cloud. The application covered in the study include payment & fund transfer, loans, insurance & personal finance, wealth management, and others. By technology, the market is segmented into application programming interface (API), artificial intelligence (AI), block chain, robotic process automation, data analytics, and others. Based on end user, it is segregated into banking, insurance, securities, and others Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Technology
Data Analytics segment will lead the market during the forecast period
Competitive Analysis
The report includes top fintech technologies companies operating in the market such as Bankable, Blockstream Corporation Inc., Circle Internet Financial Limited, Cisco Systems Inc., Goldman Sachs, IBM Corporation, Microsoft, NVIDIA Corporation, Oracle, and Tata Consultancy Services Limited. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
By End User
Banking segment will generate the highest market share during the forecast period
COVID-19 Impact Analysis
COVID-19 pandemic has a significant impact on the fintech technologies industry, owing to increase in usage and adoption of online & digitalized financial product lines among consumers globally. Moreover, Fintech providers are strengthening up their capital and funding towards technologies from investors and lenders. Access to affordable financial services is critical for poverty reduction and economic growth and therefore, Fintech innovations are helping reduce the cost of providing services, making it possible to reach more people, and reducing the need for face-to-face interactions during the pandemic. This, in turn, has become one of the major growth factors for the fintech technologies market during the global health crisis.
By Region
Asia-Pacific region would exhibit the highest CAGR of 22.1% during 2021 - 2030
Top Impacting Factors
Increase in Number of Collaborations Between National Regulators & Financial Institutions
Regulatory bodies across Asia-Pacific, the U.S., and Europe are continuously looking forward for collaboration with the FinTech community globally. In addition, this robust inclination between Fintech companies & regulators to collaborate aims at a win-win situation for business and governments alike. For instance, the Global Financial Innovation Network (GFIN), which was formally launched in January 2019 by an international group of financial regulators & related organizations, committed to supporting financial innovation in the interests of consumers.
Moreover, GFIN seeks to provide efficient solution for innovative firms to interact with regulators, helping with new business models across more than one jurisdiction. Therefore, this increased collaboration between national regulators & financial institution propels growth of fintech technologies market during the forecast period.
Varied & Conflicting Government Regulations Across Different Jurisdictions
Various laws set different standards & regulations across different jurisdictions with an increased unified approach taken by financial centers toward regulation. This has become a crucial factor for fintech technologies companies to elaborate solutions across manifold regulations such as MiFID II and GDPR, which brings an inter-regulation conflict and hinders the market growth. For instance, in the U.S., banks stand by the Dodd-Frank Act, while in Europe MiFID II regulations are considered for businesses under its jurisdiction. These factors hamper growth of the fintech technologies market.
Untapped Potential of Emerging Economies
Developing economies offer significant opportunities for Fintech tech companies to expand their offerings, as several financial companies are implementing Fintech solutions in their existing business processes. High investments for digital transformation, adoption of new technologies such as artificial intelligence in Fintech, Big Data, machine learning, & chatbots, and rapid expansion of domestic enterprises, especially among countries such as Australia, China, India, Singapore, and South Korea are expected to create potential for the fintech technologies market in the upcoming years.
Key Benefits For Stakeholders
- The study provides in-depth analysis of the global fintech technologies market share along with current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the global fintech technologies market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the fintech technologies market.
- An extensive analysis of the key segments of the industry helps to understand the fintech technologies market trends.
- The quantitative analysis of the global fintech technologies market forecast from 2021 to 2030 is provided to determine the market potential.
Fintech Technologies Market Key Segments
By Deployment Mode
- On-premise
- Cloud
By Application
- Payment & Fund Transfer
- Loans
- Insurance & Personal Finance
- Wealth Management
- Others
By Technology
- Application Programming Interface (API)
- Artificial Intelligence (AI)
- Blockchain
- Robotic Process Automation
- Data Analytics
- Others
By End User
- Banking
- Insurance
- Securities
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Singapore
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bankable
- Blockstream Corporation Inc.
- Circle Internet Financial Limited
- Cisco Systems Inc.
- Goldman Sachs
- IBM Corporation
- Microsoft
- NVIDIA Corporation
- Oracle
- Tata Consultancy Services Limited
Fintech Technologies Market Report Highlights
| Aspects | Details |
 By DEPLOYMENT MODE |
|
 By END USER |
|
 By TECHNOLOGY |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | IBM Corporation, Bankable, ORACLE, Cisco Systems Inc., Goldman Sachs, Blockstream Corporation Inc., TATA CONSULTANCY SERVICES LIMITED, Circle Internet Financial Limited, NVIDIA Corporation, .Microsoft |
Analyst Review
Several financial authorities & councils are frequently revisiting new guidelines & regulations to keep up with new technologies, industry-based risks, and financial crimes. This, as a result is becoming major trends in the global Fintech technologies market. Moreover, financial institutions are increasingly leveraging Fintech solutions to offer convenient digital-only financial offerings that require no physical contact and are increasingly using one platform to provide multiple services online.
The COVID-19 outbreak has a significant impact on the Fintech technologies market and has accelerated use & adoption of advance technologies among companies providing financial offerings. In addition, Fintech providers have been resilient and adaptable towards adjusting operations & technology offerings to serve vulnerable market segments such as micro, small, and medium-sized businesses, during the pandemic situation.
The Fintech technologies market is fragmented with the presence of regional vendors such as Oracle, IDEMIA, IBM, and Microsoft. Some of the key players profiled in the Fintech technologies market report include Bankable, Blockstream, Circle, Cisco, Goldman Sachs, NVIDIA Corporation, and Tata Consultancy Services. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in awareness & demand for Fintech technologies across the globe, major players are collaborating their product portfolio to provide differentiated and innovative products.
The Fintech Technologies market is estimated to grow at a CAGR of 20.3% from 2021 to 2030.
The Fintech Technologies market is projected to reach $698.48 billion by 2030.
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Improved focus on financial regulations, and increase in adoption of advance technologies etc. boost the Fintech Technologies market growth.
The key players profiled in the report include Bankable, Blockstream Corporation Inc., Circle Internet Financial Limited, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Fintech Technologies market is segmented on the basis of deployment mode, application, technology, end user, and region.
The key growth strategies of Fintech Technologies market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Asia-Pacific region would grow at a highest CAGR of 22.1% during the forecast period.
Banking segment will dominate the market by the end of 2030.
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