Fintech Market is Projected To Hit US$ 449.1 Billion during 2023-2028

The shift towards digitalization in financial services represents one of the key factors driving the fintech market SHERIDAN, WYOMING, UNITED STATES, October 2, 2023 /EINPresswire.com/ — How big is the Fintech Market? IMARC Group, a leading market research company, has recently releases report titled “Fintech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fintech industry report, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The fintech market size reached US$ 158.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 449.1 Billion by 2028, exhibiting a growth rate (CAGR) of 17.7% during 2023-2028. What is Financial Technology (Fintech)? Fintech is a dynamic and innovative sector that has revolutionized the way financial services are accessed and delivered. It encompasses a wide range of digital solutions and technologies that streamline financial processes, enhance accessibility, and empower consumers and businesses. It also includes payments, lending, investment management, and insurance. It leverages cutting-edge software, data analytics, and mobile applications to provide services traditionally offered by banks and financial institutions. It also relies on data analysis to tailor financial products and services to individual needs, enhancing the user experience. It assists in democratizing finance and promoting financial inclusion by making services accessible to a broader audience. It offers lower fees and transaction costs compared to traditional financial institutions. It provides access to financial services, particularly in underserved areas, enabling more people to secure loans, make payments, and invest. Request a PDF Sample for more detailed market insights: https://www.imarcgroup.com/fintech-market/requestsample What are the growth prospects and trends in the Fintech Industry: The shift towards digitalization in financial services represents one of the key factors driving the market. Besides this, consumers and businesses are increasingly preferring the convenience of digital transactions, and fintech companies are at the forefront of providing user-friendly and online solutions. Moreover, the growing adoption of fintech as people are using contactless payment options and remote financial services is offering a favorable market outlook. In addition, the rising number of mobile payments and digital wallets like PayPal, Apple Pay, and Google Wallet, allowing users to make secure and seamless transactions from their smartphones is propelling the growth of the market. Apart from this, the decentralized nature of blockchain is offering enhanced security and transparency, while cryptocurrencies like Bitcoin are capturing the imagination of investors worldwide, driving innovation in digital asset management and trading platforms. Additionally, the growing demand for fintech, as it provides easy access to financial services through user-friendly apps and websites, allowing individuals and businesses to manage their finances at their convenience, which is positively influencing the market. Who are the key players operating in the industry? The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. • Adyen N.V.• Afterpay Limited (Block Inc.)• Avant LLC, Cisco Systems Inc.• Google Payment Corp.• International Business Machines Corporation• Klarna Bank AB• Microsoft Corporation• Nvidia Corporation• Oracle Corporation• Paypal Holdings Inc.• Robinhood Markets Inc.• SoFi Technologies Inc • Tata Consultancy Services. What is included in market segmentation? The report has segmented the market on the basis of deployment mode, technology, application and end user. Breakup by Deployment Mode:• On-premises• Cloud-based Breakup by Technology:• Application Programming Interface• Artificial Intelligence• Blockchain• Robotic Process Automation• Data Analytics• Others Breakup by Application:• Payment and Fund Transfer• Loans• Insurance and Personal Finance• Wealth Management• Others Breakup by End User:• Banking• Insurance• Securities• Others Breakup by Region:• North America: (United States, Canada)• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)• Latin America: (Brazil, Mexico, Others)• Middle East and Africa Key highlights of the report:• Market Performance (2017-2022)• Market Outlook (2023-2028)• Porter’s Five Forces Analysis• Market Drivers and Success Factors• SWOT Analysis• Value Chain• Comprehensive Mapping of the Competitive Landscape If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization. About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. Elena Anderson IMARC Services Private Limited +1 631-791-1145 email us here