Fintech Market Growth Analysis, Industry Opportunities, Business Statistics
Posted by Meghana on May 24th, 2021
The Fintech Global Market Report 2020-30 by The Business Research Company describes and explains the global fintech market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
The Fintech Global Market Opportunities And Strategies Report covers fintech market drivers, fintech market trends, fintech market segments, fintech market growth rate, fintech market major players, and fintech market size.
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The fintech market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.
Fintech Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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Trends in the market include:
Implementation Of Blockchain Technology-
Companies in the global fintech market are increasingly using blockchain technology for better security and operational efficiency. Blockchain is a technology which involves the implementation of a distributed database that is accessible to all the users over a network, where each user can add a new data record (block), with a timestamp that cannot be altered. Blockchain technology maintains the authentication of data by restricting changes in older data blocks while allowing the users to continue adding new data blocks, thus, providing high security and transparency to companies operating in the fintech market. It enhances trade accuracy, speeds up the settlement process, and reduces risks. As per the Pricewaterhousecoopers (PwC) FinTech report, by 2020, 77% of financial organizations plan to integrate blockchain into their operations & 90% of payment companies plan to use blockchain by the end of 2020.
Increasing Use Of Mobile Payment Technology-
Rise of mobile payment technology is a trend adopted by the current generation. A mobile wallet is a type of digital wallet that enables the user to process payments, access account information, and pay for services through a smartphone application. To speed up the entire payment process, the mobile wallet stores details about the payment card on the app itself. Mobile wallets are on the rise and the reason for the large acceptance of mobile wallets can be attributed to the increasing number of smartphones. According to a report by NewZoo, there were nearly 3.2 billion smartphone users by the end of 2019. Therefore, with more mobile users, there are more mobile wallet users. The mobile payments market is around 4 billion in 2019 and is expected to reach 0 billion by 2021.
The market is segmented:
By Type Of Service -
a) Payments
b) Wealth Management
c) Insurance
d) Personal Loans
e) Personal Finance
f) Fund Transfer
g) Others
By Service Provider -
a) Payment Processors
b) Securities Brokerages And Investment Firms
c) Banks
d) Non-Banking Financial Companies
e) Others
By Technology -
a) Mobile Commerce And Transfers
b) Robotic Process Automation
c) Data Analytics
d) Others
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