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Fintech Market

Fintech Market Size by Deployment Type (On-Premises & Cloud), Technology (API, AI, Blockchain, Distributed Computing, & Others), Services, End-User, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12704
  • Published Date: Mar, 2022
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global fintech market is expected to reach USD 936.51 billion by 2030, at a CAGR of 26.2% from 2022 to 2030. Fintech market growth would be driven by the increasing digitization of business services, rising adoption of smart devices, increased internet penetration coupled with the growing popularity of digital payments & wallets, and increased investments in tech-based solutions.

Market Overview:

Finance is the management of money. Money management happens at an individual, corporate, or government level. Finance includes investment, credit, debit, loans, tax, & insurance. Effective management of finance allows an individual or an entity to make optimum use of its resources. Financial services are the effective management of finance, including a broad range of activities from investment to insurance. Financial services also include other activities such as mutual funds, housing finance, credit financing, bill discounting, debt & capital restructuring, among other things. The previously mentioned financial services are provided by commercial banks, insurance companies, brokerage firms, and investment banks. Financial services play a crucial role in ensuring liquidity, minimizing risk, mobilizing savings, facilitating transactions, & economic growth. Financial services need to have seamless & customer-oriented services. Integrating technology in the delivery of financial services helps achieve this seamless service to clients. The technology can be integrated into the services to provide services such as online money transfer, digital payments, & mobile banking. Fintech also offers advanced fraud detection and prevention applications, portfolio management, robotic automation processes, trading & loan underwriting. The integration of technology into financial services offers greater customer-centric services, reduces costs, is more efficient & convenient, provides advanced security, allows faster approval rates, and improves regulatory compliance. The growing adoption of fintech across industries can be attributed to the earlier mentioned benefits. With increasing digital literacy, the demand for digital financial services is bound to rise, significantly impacting the growth of the fintech market.  

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Market Dynamics:

Drivers:
  • The rising demand for digital financial services

The rapid urbanization, the adoption of smart technologies & increased internet penetration has increased the demand & popularity of digital financial services like mobile banking and digital payments, creating a need for businesses to adopt and integrate technologies into their services. The digitization of businesses offers faster & customer-centric services. The rising customer expectations have also pushed market players towards improving their business services to retain the market share. The covid 19 pandemic has significantly increased the adoption of digital payments induced by the need to have contact-free transactions. This shift towards digital payments is anticipated to continue its rise and contribute to the market's growth.

Restraints:
  • Privacy and security concerns

The increasing demand and use of digital financial services like payments gateways, digital wallets, net banking are processed & stored on cloud computing platforms. The constant heavy flow of sensitive information renders it vulnerable to cyberattacks. Malware is the most popular form of cyberattack. Financial institutions often use fintech solutions by third-party providers, which again is a security lapse without proper preventive measures. Customers access the various banking services through their phones which are easier to hack, resulting in cyber frauds & loss of money.

Opportunities:
  • New advanced technologies

The increasing demands for new features that provide advanced security, flexible integration with the existing financial systems, improved customer-centric services, transparency, and faster delivery have led to the use of advanced technologies like API, AI, data analytics in the fintech industry. Such advanced technologies allow customization of services according to the needs of the customers & the enterprise. New advancements have also reduced the cost of operations increased the efficiency and compliance rate of the institutions. These benefits will drive the adoption of fintech across industries and provide lucrative opportunities for the market players.

Challenges:
  • Conflicting regulatory guidelines

The rising adoption of fintech in economies around the world has prompted the creation of regulatory guidelines by government & banking authorities. Different governments have formed different policies. The lack of uniformity in regulations due to conflicting guidelines can restrict the market's growth. The lack of universal regulatory guidelines hinders the cross-border operability of financial services, which are a significant part of today's global world.

Segmentation Analysis:

The global fintech market has been segmented based on deployment type, technology, services, end-user, and regions.

  • The deployment type segment is divided into on-premises & cloud. The on-premises segment dominated the market, with a market share of around 52% in 2021. The greater flexibility, reliability & security offered by the on-premises deployment type is attributed to the dominance of this segment.
  • The technology segment is divided into artificial programming interface (API), artificial intelligence (AI), blockchain, distributed computing & others. Over the forecast period, the artificial intelligence (AI) segment is expected to grow at the fastest CAGR of 28.9%. Artificial intelligence allows the collection and analysis of data. The analysis provides insights for building better customer-centric services.
  • The services segment is divided into payments & fund transfers, personal finance, loans, insurance, & others. In 2021, the payments & fund transfer segment dominated the market, accounting for around 34% of global revenue. The increasing demand for mobile-based banking services which allow fund transfers & payments will drive the market for this segment. New developments and innovations that enable seamless and secure payments will contribute significantly to the segment's growth.
  • The end-user segment is divided into banking, insurance, securities, and others. The banking segment dominated the market, with a market share of around 36%. The increased automation & digitization of banking is the reason for the dominance of the segment in the market. The entry of new market players in banking increases competition, thereby growing the demand for automation to improve client services.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global fintech market, with a 35% share of the market revenue in 2021.

  • North America region currently dominates the fintech market due to the extensive presence of major market players and a well-developed digital economy. The Asia Pacific region is expected to grow during the forecast period following the growing government initiatives that encourage the integration of technology in financial services to meet the rising demand for digital financial services by the population.

North America region Fintech Market Share in 2021 - 35%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global fintech industry.

RattanIndia Enterprises recently diversified its portfolio by launching a fintech platform of the company called BankSe. The company plans to tie up with as many banks and financial firms as it can by the end of the fiscal year 2022-23. The aim is to integrate the financial services of these institutions into their fintech platform to improve client services. Presently, RattanIndia Enterprises has an arrangement with 21 banks to provide loan products via their platform BankSe.

List of Key Market Players:

  • Affirm
  • Bankable
  • Chime
  • Braintree
  • Acorns
  • Flywire
  • PayPal
  • Dwolla
  • MANTL
  • Stripe

Key Target Audience

  • Fintech Providers
  • Fintech Suppliers
  • Fintech Distributors
  • Banking Institutions
  • Market Players
  • Investors
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global fintech market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are the historic years, and 2022 to 2030 are the forecast years. The global fintech market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global fintech market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of fintech based on deployment type, technology, services, end-user, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global fintech market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global fintech market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global fintech market) is covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the fintech market was valued at USD 115.34 billion in 2021 to USD 936.51 billion by 2030.

Global fintech market is growing at a CAGR of 26.2% during the forecast period 2022-2030.

The global fintech market has been segmented based on deployment type, technology, services, end user, and regions. The on-premises segment led the market in 2021. The payment & fund transfer segment led the market in 2021.

North America region emerged as the largest market for the fintech.

The market's growth will be influenced by the rising demand for digital financial services.

Privacy and security concerns could hamper the market growth.

New advanced technologies of fintech systems will provide huge opportunities to the market.

Key players are Affirm, Bankable, Chime, Braintree, Acorns, Flywire, PayPal, Dwolla, MANTL, and Stripe.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Deployment Type
          4.3.2. Market Attractiveness Analysis by Technology
          4.3.3. Market Attractiveness Analysis by Services
          4.3.4. Market Attractiveness Analysis by End-User
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising demand for digital financial services
    5.3. Restraints
          5.3.1. Privacy and security concerns
    5.4. Opportunities
          5.4.1. New advanced technologies
    5.5. Challenges
          5.5.1. Conflicting regulatory guidelines

6. Global Fintech Market Analysis and Forecast, By Deployment Type
    6.1. Segment Overview
    6.2. On-Premises
    6.3. Cloud

7. Global Fintech Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. Artificial Programming Interface (API)
    7.3. Artificial Intelligence (AI)
    7.4. Blockchain
    7.5. Distributed Computing
    7.6. Others

8. Global Fintech Market Analysis and Forecast, By Services
    8.1. Segment Overview
    8.2. Payments & Fund Transfers
    8.3. Personal Finance
    8.4. Loans
    8.5. Insurance
    8.6. Others

9. Global Fintech Market Analysis and Forecast, By End-User
    9.1. Segment Overview
    9.2. Banking
    9.3. Insurance
    9.4. Securities
    9.5. Others

10. Global Fintech Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Fintech Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Fintech Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Affirm
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Bankable
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Chime
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Braintree
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Acorns
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. flywire
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. PayPal
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Dwolla
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. MANTL
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. Stripe
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
 

List of Table

1. Global Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

2. Global On-Premises Fintech Market, By Region, 2019-2030 (USD Billion) 

3. Global Cloud Fintech Market, By Region, 2019-2030 (USD Billion) 

4. Global Fintech Market, By Technology, 2019-2030 (USD Billion) 

5. Global Artificial Programming Interface (API) Fintech Market, By Region, 2019-2030 (USD Billion) 

6. Global Artificial Intelligence (AI) Fintech Market, By Region, 2019-2030 (USD Billion) 

7. Global Blockchain Fintech Market, By Region, 2019-2030 (USD Billion) 

8. Global Distributed Computing Fintech Market, By Region, 2019-2030 (USD Billion) 

9. Global Others Fintech Market, By Region, 2019-2030 (USD Billion) 

10. Global Fintech Market, By Services, 2019-2030 (USD Billion) 

11. Global Payments & Fund Transfers Fintech Market, By Region, 2019-2030 (USD Billion) 

12. Global Personal Finance Fintech Market, By Region, 2019-2030 (USD Billion) 

13. Global Loans Fintech Market, By Region, 2019-2030 (USD Billion) 

14. Global Insurance Fintech Market, By Region, 2019-2030 (USD Billion) 

15. Global Others Fintech Market, By Region, 2019-2030 (USD Billion) 

16. Global Fintech Market, By End-User, 2019-2030 (USD Billion) 

17. Global Banking Fintech Market, By Region, 2019-2030 (USD Billion) 

18. Global Insurance Fintech Market, By Region, 2019-2030 (USD Billion) 

19. Global Securities Fintech Market, By Region, 2019-2030 (USD Billion) 

20. Global Others Fintech Market, By Region, 2019-2030 (USD Billion) 

21. Global Fintech Market, By Region, 2019-2030 (USD Billion) 

22. North America Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

23. North America Fintech Market, By Technology, 2019-2030 (USD Billion) 

24. North America Fintech Market, By Services, 2019-2030 (USD Billion) 

25. North America Fintech Market, By End-User, 2019-2030 (USD Billion) 

26. U.S. Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

27. U.S. Fintech Market, By Technology, 2019-2030 (USD Billion) 

28. U.S. Fintech Market, By Services, 2019-2030 (USD Billion) 

29. U.S. Fintech Market, By End-User, 2019-2030 (USD Billion) 

30. Canada Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

31. Canada Fintech Market, By Technology, 2019-2030 (USD Billion) 

32. Canada Fintech Market, By Services, 2019-2030 (USD Billion) 

33. Canada Fintech Market, By End-User, 2019-2030 (USD Billion) 

34. Mexico Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

35. Mexico Fintech Market, By Technology, 2019-2030 (USD Billion) 

36. Mexico Fintech Market, By Services, 2019-2030 (USD Billion) 

37. Mexico Fintech Market, By End-User, 2019-2030 (USD Billion) 

38. Europe Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

39. Europe Fintech Market, By Technology, 2019-2030 (USD Billion) 

40. Europe Fintech Market, By Services, 2019-2030 (USD Billion) 

41. Europe Fintech Market, By End-User, 2019-2030 (USD Billion) 

42. Germany Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

43. Germany Fintech Market, By Technology, 2019-2030 (USD Billion) 

44. Germany Fintech Market, By Services, 2019-2030 (USD Billion) 

45. Germany Fintech Market, By End-User, 2019-2030 (USD Billion) 

46. France Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

47. France Fintech Market, By Technology, 2019-2030 (USD Billion) 

48. France Fintech Market, By Services, 2019-2030 (USD Billion) 

49. France Fintech Market, By End-User, 2019-2030 (USD Billion) 

50. U.K. Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

51. U.K. Fintech Market, By Technology, 2019-2030 (USD Billion) 

52. U.K. Fintech Market, By Services, 2019-2030 (USD Billion) 

53. U.K. Fintech Market, By End-User, 2019-2030 (USD Billion) 

54. Italy Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

55. Italy Fintech Market, By Technology, 2019-2030 (USD Billion) 

56. Italy Fintech Market, By Services, 2019-2030 (USD Billion) 

57. Italy Fintech Market, By End-User, 2019-2030 (USD Billion) 

58. Spain Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

59. Spain Fintech Market, By Technology, 2019-2030 (USD Billion) 

60. Spain Fintech Market, By Services, 2019-2030 (USD Billion) 

61. Spain Fintech Market, By End-User, 2019-2030 (USD Billion) 

62. Asia Pacific Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

63. Asia Pacific Fintech Market, By Technology, 2019-2030 (USD Billion) 

64. Asia Pacific Fintech Market, By Services, 2019-2030 (USD Billion) 

65. Asia Pacific Fintech Market, By End-User, 2019-2030 (USD Billion) 

66. Japan Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

67. Japan Fintech Market, By Technology, 2019-2030 (USD Billion) 

68. Japan Fintech Market, By Services, 2019-2030 (USD Billion) 

69. Japan Fintech Market, By End-User, 2019-2030 (USD Billion) 

70. China Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

71. China Fintech Market, By Technology, 2019-2030 (USD Billion) 

72. China Fintech Market, By Services, 2019-2030 (USD Billion) 

73. China Fintech Market, By End-User, 2019-2030 (USD Billion) 

74. India Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

75. India Fintech Market, By Technology, 2019-2030 (USD Billion) 

76. India Fintech Market, By Services, 2019-2030 (USD Billion) 

77. India Fintech Market, By End-User, 2019-2030 (USD Billion) 

78. South America Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

79. South America Fintech Market, By Technology, 2019-2030 (USD Billion) 

80. South America Fintech Market, By Services, 2019-2030 (USD Billion)

81. South America Fintech Market, By End-User, 2019-2030 (USD Billion)

82. Brazil Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

83. Brazil Fintech Market, By Technology, 2019-2030 (USD Billion) 

84. Brazil Fintech Market, By Services, 2019-2030 (USD Billion) 

85. Brazil Fintech Market, By End-User, 2019-2030 (USD Billion)

86. Middle East and Africa Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

87. Middle East and Africa Fintech Market, By Technology, 2019-2030 (USD Billion) 

88. Middle East and Africa Fintech Market, By Services, 2019-2030 (USD Billion) 

89. Middle East and Africa Fintech Market, By End-User, 2019-2030 (USD Billion)

90. UAE Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

91. UAE Fintech Market, By Technology, 2019-2030 (USD Billion) 

92. UAE Fintech Market, By Services, 2019-2030 (USD Billion) 

93. UAE Fintech Market, By End-User, 2019-2030 (USD Billion)

94. South Africa Fintech Market, By Deployment Type, 2019-2030 (USD Billion) 

95. South Africa Fintech Market, By Technology, 2019-2030 (USD Billion) 

96. South Africa Fintech Market, By Services, 2019-2030 (USD Billion) 

97. South Africa Fintech Market, By End-User, 2019-2030 (USD Billion) 

List of Figures 

1. Global Fintech Market Segmentation

2. Fintech Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Fintech Market Attractiveness Analysis by Deployment Type

9. Global Fintech Market Attractiveness Analysis by Technology

10. Global Fintech Market Attractiveness Analysis by Services

11. Global Fintech Market Attractiveness Analysis by End-User

12. Global Fintech Market Attractiveness Analysis by Region

13. Global Fintech Market: Dynamics

14. Global Fintech Market Share by Deployment Type (2022 & 2030)

15. Global Fintech Market Share by Technology (2022 & 2030)

16. Global Fintech Market Share by Services (2022 & 2030)

17. Global Fintech Market Share by Regions (2022 & 2030)

18. Global Fintech Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global fintech market based on below mentioned segments:

Global Fintech Market By Deployment Type:

  • On-Premises
  • Cloud

Global Fintech Market By Technology:

  • Artificial Programming Interface (API)
  • Artificial Intelligence (AI)
  • Blockchain
  • Distributed Computing
  • Others

Global Fintech Market By Services:

  • Payments & Fund Transfers
  • Personal Finance
  • Loans
  • Insurance
  • Others

Global Fintech Market By End User:

  • Banking
  • Insurance
  • Securities
  • Others

Global Fintech Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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