Fintech Market Size, Trends and Insights By Deployment Mode (On-premises, Cloud-based), By Technology (Application Programming Interface, Artificial Intelligence, Blockchain, Robotic Process Automation, Data Analytics, Others), By Application (Payment and Fund Transfer, Loans, Insurance and Personal Finance, Wealth Management, Others), By End User (Banking, Insurance, Securities, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Adyen N.V.
- Afterpay Limited (Block Inc.)
- Avant LLC
- Cisco Systems Inc.
- Google Payment Corp.
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Fintech market is expected to record a CAGR of 15.6% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 228 Billion. By 2033, the valuation is anticipated to reach USD 920 Billion.
Fintech Market: Overview
Fintech refers to the application of modern technologies to financial products and services. Financial technology refers to advancements in financial services such as mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as cryptocurrencies.
Fintech companies are new and existing technical and financial firms aiming to improve, complement, or replace traditional financial services.
Several factors are driving the fintech market, including increased demand for digital payments, technological advancements, a greater emphasis on financial inclusion, expansion in e-commerce, changes in consumer behavior, and rising government initiatives. However, cybersecurity concerns and a lack of financial literacy are projected to impede industry expansion.
- According to the Department of Financial Services, digital payments in India have significantly increased in recent years due to the government’s coordinated efforts with all stakeholders. The total digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at a CAGR of 44%.
- An exclusive report shared by application SaaS security firm Indusface with ETCISO reveals that, on average, the BFSI sector faces 38% more attacks per application compared to the industry average, with over 9,73,000 attacks per website.
Fintech Market: Growth Factors
Growing cyberattacks in the financial sector & its measures
The development of safe financial transactions is increasing as the number of cyber threats grows. This is one of the key fintech market trends. Fintech companies are implying strong security procedures to protect user financial information.
These safeguards include multi-factor authentication, advanced encryption, and real-time fraud detection. This security-focused feature of fintech appeals to consumers concerned about the security of their financial activities. In 2023, the Identity Theft Resource Center reported that 343,338,964 persons were victims of 2,365 cyberattacks.
Increasing adoption of digital payments
Digital payments have transformed the fintech business by enabling faster, more efficient, and more secure money transfers and financial transactions. The use of digital payments has increased in recent years as cell phones, the Internet, and other digital technologies have become more widely adopted. Digital payments are the cornerstone of many fintech technologies.
Fintech companies use digital payment infrastructure to provide various services, including peer-to-peer (P2P) transfers, online lending, robo-advisory, insurance, and more. These solutions improve financial accessibility and inclusion by leveraging digital payment channels, boosting the fintech market.
Customers can conduct transactions at any time and from any location using digital payments, eliminating the need for real cash or cards. This convenience has resulted in a massive growth in digital payment adoption by worldwide fintech companies.
Fintech Market: Recent Development
The Fintech industry adopted several strategies, which include product launches, acquisitions, collaboration, expansion, and others. Some of the company strategies include:
- In March 2023, MANGOPAY, the platform-specific payment infrastructure provider, and PayPal, a global leader in online payment solutions, announced the strengthening of their long-term strategic cooperation to provide marketplaces with quick access to PayPal’s global payment methods and capabilities. This cooperation will allow marketplaces to quickly build a dynamic payment experience and provide additional choices to their end-users by making PayPal available.
- In May 2022, Synctera, a leading FinTech banking provider helping innovators build their FinTechs more efficiently, expanded its partnership with Mastercard by integrating Mastercard’s open banking platform (provided by Mastercard’s wholly owned subsidiary, Finicity) to provide account verification solutions for Synctera-powered FinTechs. Adding consumer-permissioned data from an open banking platform allows early-stage FinTechs access to the data they need to mitigate fraud, maximize confidence, and provide more choices in payment transactions to improve user experiences.
This product launch, expansion, and collaboration strategies have expanded the company’s market presence in the fintech industry and given it a competitive edge.
Fintech Market: Challenge
Privacy and security concerns
Privacy and security issues are significant obstacles for the market. Online payments are becoming increasingly popular in developing countries. Customers in the mass market are unaware of the advantages of employing these technologies.
Despite widespread internet use, adoption of business strategies and platforms remains low. Payment service companies acquire personal information about their customers to adapt advertising messages and target specific audiences. Such approaches assist providers in obtaining information on the customer profile, behavior, and data mining.
However, the arbitrary use of this information may breach the customer’s privacy. Location-based services raise data protection concerns since they rely on real-time location data. Since mobile devices are utilized for real-time financial transactions, data theft can cause economic losses for consumers and reputational damage for service providers. Such dangers turn customers off from online buying and offer a possible threat to the global industry during the predicted period.
Fintech Market: Category-Wise Insights
By Deployment Mode:
The on-premises booking segment is expected to dominate the market. The segment expansion is attributed to the rising corporate investments in on-premises solutions. Moreover, this solution provides high security and trust compared to cloud-based solutions, which is expected to propel the segment expansion.
Besides, the cloud-based segment is growing at a rapid rate. The segment expansion is increasing for several reasons, including cheap cost, subscription-based models, etc.
By End User:
The banking segment is expected to dominate the market. This is attributed to the growing government initiatives for digital payment in emerging economies like India. Moreover, the innovative product launch and technological advancement drive the market expansion over the projected period.
Besides, the insurance segment is growing at a rapid rate. Insurers are increasingly leveraging digital platforms to provide smooth and user-friendly experiences. Chatbots, mobile apps, and self-service portals are examples of fintech technologies that enable clients to conveniently purchase policies, make claims, and track coverage.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 228 Billion |
| Projected Market Size in 2033 | USD 920 Billion |
| Market Size in 2023 | USD 216 Billion |
| CAGR Growth Rate | 15.6% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Deployment Mode, Technology, Application, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your research requirements. |
Fintech Market: Regional Analysis
North America is projected to dominate the Fintech market. The market growth of Fintech in the region is attributed to the rising deployment of advanced technology. Furthermore, the presence of major regional players drives the industry expansion. Also, the increasing regulatory support propels the industry expansion.
However, the Asia Pacific region is growing significantly in the global fintech industry. The expansion of the e-commerce industry is the primary reason for the industry’s development over the forecast period. Moreover, the growing government initiatives drive the expansion of the fintech industry.
List of the prominent players in the Fintech 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
- Others
The Fintech Market is segmented as follows:
By Deployment Mode
- On-premises
- Cloud-based
By Technology
- Application Programming Interface
- Artificial Intelligence
- Blockchain
- Robotic Process Automation
- Data Analytics
- Others
By Application
- Payment and Fund Transfer
- Loans
- Insurance and Personal Finance
- Wealth Management
- Others
By End User
- Banking
- Insurance
- Securities
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Fintech Market (2024 – 2033) (USD Billion)
- 2.2 Global Fintech Market: snapshot
- Chapter 3. Global Fintech Market – Industry Analysis
- 3.1 Fintech Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growing cyberattacks in the financial sector & its measures
- 3.2.2 Increasing adoption of digital payments
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Deployment Mode
- 3.7.2 Market Attractiveness Analysis By Technology
- 3.7.3 Market Attractiveness Analysis By Application
- 3.7.4 Market Attractiveness Analysis By End User
- Chapter 4. Global Fintech Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Fintech Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Fintech Market – Deployment Mode Analysis
- 5.1 Global Fintech Market Overview: By Deployment Mode
- 5.1.1 Global Fintech Market Share, By Deployment Mode, 2023 and 2033
- 5.2 On-premises
- 5.2.1 Global Fintech Market by On-premises, 2024 – 2033 (USD Billion)
- 5.3 Cloud-based
- 5.3.1 Global Fintech Market by Cloud-based, 2024 – 2033 (USD Billion)
- 5.1 Global Fintech Market Overview: By Deployment Mode
- Chapter 6. Global Fintech Market – Technology Analysis
- 6.1 Global Fintech Market Overview: By Technology
- 6.1.1 Global Fintech Market Share, By Technology, 2023 and 2033
- 6.2 Application Programming Interface
- 6.2.1 Global Fintech Market by Application Programming Interface, 2024 – 2033 (USD Billion)
- 6.3 Artificial Intelligence
- 6.3.1 Global Fintech Market by Artificial Intelligence, 2024 – 2033 (USD Billion)
- 6.4 Blockchain
- 6.4.1 Global Fintech Market by Blockchain, 2024 – 2033 (USD Billion)
- 6.5 Robotic Process Automation
- 6.5.1 Global Fintech Market by Robotic Process Automation, 2024 – 2033 (USD Billion)
- 6.6 Data Analytics
- 6.6.1 Global Fintech Market by Data Analytics, 2024 – 2033 (USD Billion)
- 6.7 Others
- 6.7.1 Global Fintech Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Fintech Market Overview: By Technology
- Chapter 7. Global Fintech Market – Application Analysis
- 7.1 Global Fintech Market Overview: By Application
- 7.1.1 Global Fintech Market Share, By Application, 2023 and 2033
- 7.2 Payment and Fund Transfer
- 7.2.1 Global Fintech Market by Payment and Fund Transfer, 2024 – 2033 (USD Billion)
- 7.3 Loans
- 7.3.1 Global Fintech Market by Loans, 2024 – 2033 (USD Billion)
- 7.4 Insurance and Personal Finance
- 7.4.1 Global Fintech Market by Insurance and Personal Finance, 2024 – 2033 (USD Billion)
- 7.5 Wealth Management
- 7.5.1 Global Fintech Market by Wealth Management, 2024 – 2033 (USD Billion)
- 7.6 Others
- 7.6.1 Global Fintech Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Fintech Market Overview: By Application
- Chapter 8. Global Fintech Market – End User Analysis
- 8.1 Global Fintech Market Overview: By End User
- 8.1.1 Global Fintech Market Share, By End User, 2023 and 2033
- 8.2 Banking
- 8.2.1 Global Fintech Market by Banking, 2024 – 2033 (USD Billion)
- 8.3 Insurance
- 8.3.1 Global Fintech Market by Insurance, 2024 – 2033 (USD Billion)
- 8.4 Securities
- 8.4.1 Global Fintech Market by Securities, 2024 – 2033 (USD Billion)
- 8.5 Others
- 8.5.1 Global Fintech Market by Others, 2024 – 2033 (USD Billion)
- 8.1 Global Fintech Market Overview: By End User
- Chapter 9. Fintech’s Market – Regional Analysis
- 9.1 Global Fintech’s Market Regional Overview
- 9.2 Global Fintech’s Market Share, by Region, 2023 & 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Fintech’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.4 North America Fintech’s Market, by Deployment Mode, 2024 – 2033
- 9.4.1 North America Fintech’s Market, by Deployment Mode, 2024 – 2033 (USD Billion)
- 9.5 North America Fintech’s Market, by Technology, 2024 – 2033
- 9.5.1 North America Fintech’s Market, by Technology, 2024 – 2033 (USD Billion)
- 9.6 North America Fintech’s Market, by Application, 2024 – 2033
- 9.6.1 North America Fintech’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.7 North America Fintech’s Market, by End User, 2024 – 2033
- 9.7.1 North America Fintech’s Market, by End User, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Fintech’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Fintech’s Market, by Deployment Mode, 2024 – 2033
- 9.9.1 Europe Fintech’s Market, by Deployment Mode, 2024 – 2033 (USD Billion)
- 9.10 Europe Fintech’s Market, by Technology, 2024 – 2033
- 9.10.1 Europe Fintech’s Market, by Technology, 2024 – 2033 (USD Billion)
- 9.11 Europe Fintech’s Market, by Application, 2024 – 2033
- 9.11.1 Europe Fintech’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.12 Europe Fintech’s Market, by End User, 2024 – 2033
- 9.12.1 Europe Fintech’s Market, by End User, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Fintech’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Fintech’s Market, by Deployment Mode, 2024 – 2033
- 9.14.1 Asia Pacific Fintech’s Market, by Deployment Mode, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Fintech’s Market, by Technology, 2024 – 2033
- 9.15.1 Asia Pacific Fintech’s Market, by Technology, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Fintech’s Market, by Application, 2024 – 2033
- 9.16.1 Asia Pacific Fintech’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Fintech’s Market, by End User, 2024 – 2033
- 9.17.1 Asia Pacific Fintech’s Market, by End User, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Fintech’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Fintech’s Market, by Deployment Mode, 2024 – 2033
- 9.19.1 Latin America Fintech’s Market, by Deployment Mode, 2024 – 2033 (USD Billion)
- 9.20 Latin America Fintech’s Market, by Technology, 2024 – 2033
- 9.20.1 Latin America Fintech’s Market, by Technology, 2024 – 2033 (USD Billion)
- 9.21 Latin America Fintech’s Market, by Application, 2024 – 2033
- 9.21.1 Latin America Fintech’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.22 Latin America Fintech’s Market, by End User, 2024 – 2033
- 9.22.1 Latin America Fintech’s Market, by End User, 2024 – 2033 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Fintech’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Fintech’s Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Fintech’s Market, by Deployment Mode, 2024 – 2033
- 9.24.1 The Middle-East and Africa Fintech’s Market, by Deployment Mode, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Fintech’s Market, by Technology, 2024 – 2033
- 9.25.1 The Middle-East and Africa Fintech’s Market, by Technology, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Fintech’s Market, by Application, 2024 – 2033
- 9.26.1 The Middle-East and Africa Fintech’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Fintech’s Market, by End User, 2024 – 2033
- 9.27.1 The Middle-East and Africa Fintech’s Market, by End User, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Adyen N.V.
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Afterpay Limited (Block Inc.)
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Avant LLC
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Cisco Systems Inc.
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Google Payment Corp.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 International Business Machines Corporation
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Klarna Bank AB
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Microsoft Corporation
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Nvidia Corporation
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Oracle Corporation
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Paypal Holdings Inc.
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Robinhood Markets Inc.
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 SoFi Technologies Inc
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Tata Consultancy Services
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Others.
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.1 Adyen N.V.
List Of Figures
Figures No 1 to 35
List Of Tables
Tables No 1 to 102
Prominent Players
- 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
- Others
FAQs
The key factors driving the Market are Growing cyberattacks in financial sector & its measures, Increasing adoption of digital payments.
The “Payment and Fund Transfer” had the largest share in the global market for Fintech.
The “Application Programming Interface” category dominated the market in 2023.
The key players in the market are 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, Others.
“North America” had the largest share in the Fintech Market.
The global market is projected to grow at a CAGR of 15.6% during the forecast period, 2024-2033.
The Fintech Market size was valued at USD 228 Billion in 2024.