FinTech Market- Forecast (2018-2023)Posted by Venkatesh on September 4th, 2018 According to the new market research report by IndustryARC titled “FinTech Market: By Technology (Application Program Interface, Artificial intelligence and Block chain); By Type of transaction (Digital transaction, business finance and personal finance); By Sector (Lenders, payments, wealth management, financial institutions, insurance and others) & By Geography - Forecast(2018 - 2023),” the market will be driven by opportunity to expand products and services in financial institutions with strong focus on data analytics and mobile technology. Fintech is a software utilized by the big, medium and small financial companies for payments in bank, retail and institutions, insurance providers, and others. The non-banking corporation’s usage is to maintain account processing, customer profiles, account information, eligibility evaluation, and other financial activities associated with marketing, branding, and promotions. North America Dominates Major Share in FinTech Market North America is the leading holder of shares in FinTech market. Among all the regions, US is the region behind the major adoption of technology in the growth of the market. Silicon Valley in New York and London are the leading world in FinTech Locations for the year of 2017. An overview states that having clear idea and knowledge on the technology is the reason behind the adoption of the Fintech in the companies of North America. Further, Asia-Pacific is expected to show rapid growth in Fintech blockchain market during the forecast period. The growing technological advancement in blockchain solutions has increased the adoption across banking, and in-banking financial services across APAC. Selected Solution Analysis Done in the Full Report: The market is segmented into technology, transaction type and sector. The report analysis on sector segment states that, utilization of technology in business processes is helping to enhance its performance. In FinTech sector transaction type segment discuss about the payments, financial institution and insurance. Insurance occupied the largest market share in 2017. The use of FinTech technology across the financial services industry is growing. Emergence of services such as PayTech, RegTech, InsurTech, and digital banking highlight the ways in which digitalization has impacted the FinTech industry. These consumer demand in improved access and anytime anywhere services is achieving greater transparency and will lead the market in the period of 2018-2023. To access/purchase the full report, please click the link: Selected Driving Factors Mentioned in the Full Report High compatibility with financial services ecosystems and rising crypto currencies market will cap faster transactions and expected to boost the growth in FinTech market. Demand in distributed ledger technology, has reduced the total cost of ownership, transparency and immutability, and faster transactions would fuel the market growth. Increase experience of data models and analytics to better identity and quality risk is seen as the most important trend in the financial industry and one of which the market is expected more likely to respond in the few years. For this reason the insurers are embracing innovation with a focus on data analytics and 84% are planning to invest in the forecast of 2018-2023. Key Players of the FinTech Market The FinTech Market is Segmented as Indicated Below: The growing scale of development in financial and insurance industry will drive the demand for FinTech Market. A. Fintech Market – By Technology 1. Application programming interface (API) B. Fintech Market – By Type Of Transaction C. Fintech Market – By Sector 1. Lenders D. FinTech Market By Geography (16+ countries) 1. Earthport More than 10 companies are profiled in this report G. Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer. What can you expect from the report? The FinTech Market Report is prepared with the main agenda to cover the following 20 points: 1. Market Size by Product Category Any other major customizations can be discussed with our team. We can also provide you with a separate quote based on your requirements. You can drop an e-mail to sales@industryarc.com to learn more about our consulting services. Media Contact Mr. Venkat Reddy About IndustryARC IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, and Life Sciences & Healthcare. IndustryARC primarily focuses on cutting-edge technologies and newer applications in a market. Our custom research services are designed to provide insights on the constant flux in the global supply–demand gap of markets. Our strong team of analysts enables us to meet the client’s research needs at a rapid speed and with a variety of options. We look forward to helping the client address its customer needs effectively, stay ahead in the market, become the top competitor, and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today. Like it? Share it!More by this author |