Fintech Market 2023-2027; A descriptive analysis of the five forces model, market dynamics and segmentation

NEW YORK, January 18, 2023 /PRNewswire/ — According to Technavio, the global fintech market size is estimated to grow through $277.22 billion from 2022 to 2027. The market is estimated to grow by a CAGR of 20.5% during the forecast period. APAC had the largest share of the global market in 2022 and the market in the region is estimated to experience a growth of 39%. For more insight into market size, Request a sample report

Technavio has announced its latest market research report titled Global Fintech Market 2023-2027

Fintech Market – Five Forces
The global cloud data warehouse market is fragmented and the analysis of the five forces includes:

  • Bargaining power of buyers

  • The threat of newcomers

  • Threat of rivalry

  • Negotiating power of suppliers

  • Threat of substitutes

  • Interpretation of Porter’s five models helps to strategize the company, for all the details – buy the report!

Fintech Market – Customer Landscape

The report covers the adoption lifecycle of the market from the innovator stage to the laggard stage. It focuses on adoption rates in different regions based on penetration. In addition, the report also includes key purchasing criteria and factors influencing price sensitivity to help companies evaluate and develop their growth strategies.

Fintech Market – Segmentation Assessment

Segment overview
Technavio has segmented the market based on application (on-premise and cloud), end-user (banking, insurance, securities and others), and geography (APAC, North America, Europe, South Americaand Middle East and Africa).

  • Market share growth by the on-premise segment will be significant during the forecast period. Large financial institutions dealing with multiple transaction information on a daily basis prefer on-premise fintech software solutions. On-premise solutions provide the optimal level of data security with physical access controls and security protocols. These solutions also provide a secure environment during regular software upgrades.

Geography Overview
By geography, the global fintech market has been segmented into APAC, North America, Europe, South Americaand Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fintech market.

  • APAC will account for 39% of the growth of the global market during the forecast period. Factors such as high growth potential, rapid adoption of technologies like blockchain across all industries and an influx of small and medium-sized enterprises are driving the growth of the regional market.

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Fintech marketMarket dynamics

Key factor for market growth

  • The market is driven by the influence of digitization.

  • Companies around the world are applying digital solutions to improve their business processes.

  • The use of technology helps companies make effective decisions in real time.

  • Increasing digitization has led to an increase in the adoption of connected devices and advanced and diverse machines in business processes.

  • This leads to the generation of huge amounts of data, mainly due to process automation and the adoption of digital media by customers.

  • Fintech software enables organizations to process this data and use it in business-related decision-making processes to understand consumer behavior and market patterns.

  • Thus, with increasing digitization, the adoption of fintech software will increase significantly during the forecast period.

Leading trends that influence the market

  • The growing popularity of blockchain is one of the major trends in the market.

  • Blockchain technology is gaining popularity in the BFSI sector. Banks use this technology for various tasks, such as authentication processes and verifying documents.

  • The technology allows for complete business-to-business transfers at a significantly low cost and with minimal decentralization.

  • Banks’ reliance on blockchain technology is expected to increase significantly during the forecast period due to the potential myriad benefits of the technology.

  • This trend is expected to drive the growth of the global fintech software market during the forecast period.

Major challenges hindering the growth of the market

  • Privacy and security issues associated with fintech solutions are challenging the growth of the market.

  • Fintech solutions enable payment service providers to collect data on customer profiling, behavior and data mining.

  • The arbitrary use of this data may infringe customer privacy. Also, the use of location-based services increases the risk of personal information being compromised.

  • Moreover, since smartphones are used for money transactions in real time, data theft can lead to financial losses for consumers and reputational damage for service providers.

  • Such risks reduce the growth potential in the market.

Driver, Trend and Challenges are the factors of the market dynamics that say something about the impact and sustainability of the companies. Find some insights from a sample report!

What are the key data in this fintech market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will propel fintech market growth between 2023 and 2027

  • Accurate estimation of the size of the fintech market size and its contribution to the market in parent market focus

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Fintech market sector growth in APAC, North America, Europe, South Americaand Middle East and Africa

  • A thorough analysis of the competitive landscape of the market and detailed information on suppliers

  • Comprehensive analysis of factors that will challenge the growth of fintech market vendors

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Related Reports:

  • The secure web gateway market is estimated to grow at a CAGR of 21.52% between 2022 and 2027. The size of the market is expected to increase by $11,710.84. million. The increasing number of cyber-attacks is particularly driving the market growth, though factors such as the low adoption of secure web gateway (SWG) solutions in the business segment may hamper the market growth.

  • The blockchain technology market in the BFSI sector size is expected to increase $4.02 billion from 2021 to 2026, and the growth momentum of the market will accelerate at a CAGR of 36.6%. The rise in Fintech spending is particularly driving the growth of the blockchain technology market in the BFSI sector, though factors such as the lack of confidence in BT for financial transactions may hamper market growth.

Fintech market size

Report coverage

Details

Page number

153

Base year

2022

Historical period

2017-2021

Forecast period

2023-2027

Growth Momentum & CAGR

Accelerate at a CAGR of 20.5%

Market Growth 2023-2027

$277.22 billion

Market structure

Fragmented

Year on year growth 2022-2023 (%)

20.12

Regional analysis

APAC, North America, Europe, South America and the Middle East and Africa

Carrying out market contribution

APAC at 39%

Key countries

US, India, China, UK and Germany

Competitive landscape

Leading suppliers, supplier market positioning, competitive strategies and industry risks

Key companies profiled

Acorns Advisers LLC, Adyen NV, Affirm Inc., AlphaSense Inc, Avant LLC, Barker Brooks Communications Ltd., Camden Town Technologies Pvt Ltd., CLYDE TECHNOLOGIES, INC, Earnest Fintech, FinTech Sandbox Inc., International Business Machines Corp., Microsoft Corp., PayPal Holdings Inc., SIGMOIDAL LLC., SoFi Technologies Inc., Stripe Inc., Upstart Network Inc., Fundrise LLC, and Alphabet Inc.

Market dynamics

Parent market analysis, market growth drivers and barriers, fast growing and slow growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and analysis of market conditions for the forecast period.

Customer focus

If our report doesn’t contain the data you’re looking for, you can contact our analysts and get custom segments.

Index:

1. Summary

2 Market landscape

3 Market Size

4 Historical market size

5 Five forces analysis

6 Market Segmentation by Application

7 Market segmentation by end-user

8 Customer landscape

9 Geographical landscape

10 drivers, challenges and trends

11 supplier landscape

12 Supplier Analysis

13 Appendix

About us
Technavio is a leading global technology research and consulting firm. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library consists of over 17,000 reports and counting, covering 800 technologies across 50 countries. Their customer base includes companies of all sizes, including over 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Fintech Market 2023-2027

Global Fintech Market 2023-2027

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