Fintech Market

Fintech Market Size by Deployment Mode (On-Premises and Cloud), Technology (Cyber Security, Artificial Intelligence, Blockchain, Public Cloud Infrastructure, Biometrics and Identity Management, and Others), Application (Fund and Payment Transfer, Wealth Management, Insurance, Digital Lending and Lending Marketplaces and Others), Providers (Banks, Non-Banking Finance Companies, Investment Firms, Payment Processor and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12704
  • Published Date: Sep, 2024
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global fintech market was valued at USD 210.4 Billion in 2023 and grew at a CAGR of 18.3% from 2024 to 2033. The market is expected to reach USD 1,129.52 Billion by 2033. The growth of the fintech market can be attributed to the continuous investment in developing innovative technology for the finance sector. The intersection of financial services and technology is what drives the fintech market. This involves utilizing innovative technologies and digital solutions to provide financial products, services, and processes. Fintech companies are transforming various aspects of the finance industry by leveraging developments in mobile apps, artificial intelligence (AI), blockchain technology, data analytics, and cloud computing. Fiscal tech facilities these firms provide include B2B tools or solutions delivered over a secure cloud platform that can be integrated into existing systems for immediate use without requiring extensive development resources from other businesses. Financial Technology providers offer an array of technological advances ranging from payment processing through peer-to-peer lending platforms to fraud detection using blockchain-based architecture. With open banking's application programming interfaces (APIs) becoming more prevalent, 'integration' between traditional brick-and-mortar banks with their online counterparts has given rise to opportunities that may have been previously unavailable. By accessing institutional-level infrastructure data sharing agreements - bridging potential regulatory gaps- while leveraging unique fintech competencies, traditional bank service portfolios continue to innovate, add value-added features, improving customer experience across industries everywhere.

Market Introduction:

Financial technology, or fintech, refers to a broad category of software, mobile applications, and other technologies designed to enhance and automate conventional financial services for consumers and enterprises. FinTech provides many technologies, from mobile payment apps to blockchain networks storing encrypted transactions. FinTech makes financial transactions easier for organizations and customers to do, increasing accessibility and typically lowering costs. It can also apply to businesses and services that use big data, encrypted blockchain, and artificial intelligence to enable extremely safe internal network transactions. Fintech aims to simplify transactions by removing stages that might be excessive for all parties involved. Fintech has evolved and expanded over time due to advancements in the larger technology industry.

Fintech Market Size

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Market Dynamics:

Drivers

Increasing demand for online financing: The usage of digital payments by U.S. customers is growing in several ways. Provider prospects are changing due to user expectations about payment functionality and integration. In addition to the fact that the percentage of respondents who report using two or more digital payment methods has increased even faster—from 51 per cent in 2021 to 62 per cent in 2022—digital payment penetration has also increased to 89 per cent in 2022. Within the next two years, almost two-thirds of Americans anticipate owning a digital wallet, and many will probably have multiple wallets. The percentage of consumers who want to use three or more digital wallets in the upcoming years increased significantly, from 18% in the study conducted in 2021 to 30% in 2022. This is a significant modification compared to the traditional approach of carrying cash.

Restraints:

High installation cost of devices: The price of developing a FinTech application ranges with the features. The criteria and goals of each organization are different, which influences how much it costs to design a FinTech application. Several variables affect an app's price, such as its functionality, features, app development agency location, and overall development time. The FinTech app's integration of upgraded solutions and contemporary technologies can range from USD 60,000 to USD 100,000.

Opportunities:

Technological advancements of products and services: These are some of the technologies that will likely influence FinTech in the future. Users and businesses will benefit from integrating cutting-edge technologies with the financial sector. The global economy's digitization and the uptake of new technologies will determine the direction of the FinTech industry. Additionally, as FinTech spreads worldwide, several technologies have been used to meet the needs of the industry. With automated and embedded security controls, cloud computing integration improves security. The application of machine learning not only aids in data mining—making the process easier or predicting results—but also helps with risk management, strategy aggregation, strategy refinement, and trade idea generation.

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 most significant fintech market, with a 40.9% market revenue share in 2023.

North American region will account for the largest market share with revenue growth. The consumers in the region are well aware of the usage of fintech products. The prominent global players have headquarters in the U.S., propelling the regional market's growth. Further, the regulators in the region provide incentives for the development of fintech apps and services, which can help enhance the traditional functions of finance institutions.

North America region Fintech Market Share in 2023 - 40.9%

 

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Deployment Mode Segment Analysis

The deployment mode segment is divided into on-premises and cloud. The on-premises segment dominated the market, with a share of 73.3% in 2023. Resources are deployed internally and within an organization's I.T.I.T. infrastructure in an on-premises setting. An enterprise must maintain the solution and its associated processes. Businesses that use on-premise software deployment are responsible for the continuing expenses associated with server hardware.

Technology Segment Analysis

The technology segment is divided into cyber security, artificial intelligence, blockchain, public cloud infrastructure, biometrics, identity management, and others. The artificial intelligence segment dominated the market, with a share of 43.1% in 2023. Financial sector companies can use artificial intelligence to manage and analyze data from many sources to obtain insightful information. These creative outcomes assist banks in overcoming the obstacles they encounter daily when providing routine services like payment processing.

Application Analysis

The application segment is divided into fund and payment transfer, wealth management, insurance, digital lending and lending marketplaces and others. The fund and payment transfer segment dominated the market, with a share of 49.1% in 2023. All of the intermediaries—banks and agents—used in traditional transfer methods are eliminated by fintech apps. FinTechs can charge very little fees—often less than 1% of the transfer amount—because they do not have to pay these overhead expenses.

Providers Segment Analysis

The providers segment is divided into banks, non-banking finance companies, investment firms, and payment processors. The banks segment dominated the market, with a share of 39.7% in 2023. Open development and Software-as-a-Service solutions from FinTech start-ups are being used by banks more frequently in an attempt to simplify and readily integrate operational capabilities and transition to digital/mobile delivery.

Some of the Key Market Players:
  • Bankable
  • Circle Internet Financial Limited
  • Blockstream Corporation Inc.
  • Cisco Systems Inc.
  • I.B.M. Corporation
  • Goldman Sachs
  • Microsoft
  • Oracle
  • N.V.I.D.I.A. Corporation
  • Tata Consultancy Services Limited
  • Ant Financials
  • Paypal
  • SoFi
  • Adyen
  • Ally Financials

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 210.4 Billion
Market size value in 2033 USD 1,129.52 Billion
CAGR (2024 to 2033) 18.3%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Deployment Mode, Technology, Application and Providers

Frequesntly Asked Questions

As per The Brainy Insights, the size of the fintech market was valued USD 210.4 billion in 2023 to USD 1,129.52 Billion by 2033.

Global fintech market is growing at a CAGR of 18.3% during the forecast period 2024-2033.

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

The market's growth will be influenced by the growing usage of online wallets.

The data privacy issues can hamper the market growth.

The increasing technological advancements are providing huge opportunities to the market.

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 Mode
          4.3.2. Market Attractiveness Analysis by Technology
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Providers
          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. Increasing usage of online wallets
    5.3. Restraints
          5.3.1. High cost of product development
    5.4. Opportunities
          5.4.1. Increasing advancement in development of products and services
    5.5. Challenges
          5.5.1. Data privacy issues

6. Global Fintech Market Analysis and Forecast, By Deployment Mode
    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. Cyber Security
    7.3. Artificial Intelligence
    7.4. Blockchain
    7.5. Public Cloud Infrastructure
    7.6. Biometrics and Indentify Management
    7.7. Others

8. Global Fintech Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Fund and Payment Transfer
    8.3. Wealth Management
    8.4. Insurance
    8.5. Digital Lending and Lending Marketplaces
    8.6. Others

9. Global Fintech Market Analysis and Forecast, By Providers
    9.1. Segment Overview
    9.2. Banks
    9.3. Non-Banking Finance Companies
    9.4. Investment Firms
    9.5. Payment Processor
    9.6. 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. Bankable
          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. Circle Internet Financial Limited
          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. Blockstream Corporation Inc.
          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. Cisco Systems Inc.
          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. IBM Corporation
          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. Goldman Sachs
          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. Microsoft
          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. Oracle
          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. NVIDIA Corporation
          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. Tata Consultancy Services Limited
          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
    12.11. Ant Financials
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Product Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
    12.12. Paypal
          12.12.1. Business Overview
          12.12.2. Company Snapshot
          12.12.3. Company Market Share Analysis
          12.12.4. Company Product Portfolio
          12.12.5. Recent Developments
          12.12.6. SWOT Analysis
    12.13. SoFi
          12.13.1. Business Overview
          12.13.2. Company Snapshot
          12.13.3. Company Market Share Analysis
          12.13.4. Company Product Portfolio
          12.13.5. Recent Developments
          12.13.6. SWOT Analysis
    12.14. Adyen
          12.14.1. Business Overview
          12.14.2. Company Snapshot
          12.14.3. Company Market Share Analysis
          12.14.4. Company Product Portfolio
          12.14.5. Recent Developments
          12.14.6. SWOT Analysis
    12.15. Ally Financials
          12.15.1. Business Overview
          12.15.2. Company Snapshot
          12.15.3. Company Market Share Analysis
          12.15.4. Company Product Portfolio
          12.15.5. Recent Developments
          12.15.6. SWOT Analysis
    12.16. Oscar Health
          12.16.1. Business Overview
          12.16.2. Company Snapshot
          12.16.3. Company Market Share Analysis
          12.16.4. Company Product Portfolio
          12.16.5. Recent Developments
          12.16.6. SWOT Analysis

List of Table

1. Global Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

2. Global On-Premises, Fintech Market, By Region, 2020-2033 (USD Billion) 

3. Global Cloud, Fintech Market, By Region, 2020-2033 (USD Billion) 

4. Global Fintech Market, By Technology, 2020-2033 (USD Billion) 

5. Global Cyber Security, Fintech Market, By Region, 2020-2033 (USD Billion) 

6. Global Artificial Intelligence, Fintech Market, By Region, 2020-2033 (USD Billion)

7. Global Blockchain, Fintech Market, By Region, 2020-2033 (USD Billion)

8. Global Public Cloud Infrastructure, Fintech Market, By Region, 2020-2033 (USD Billion)

9. Global Biometrics and Indentify Management, Fintech Market, By Region, 2020-2033 (USD Billion)

10. Global Others, Fintech Market, By Region, 2020-2033 (USD Billion)

11. Global Fintech Market, By Application, 2020-2033 (USD Billion) 

12. Global Fund and Payment Transfer, Fintech Market, By Region, 2020-2033 (USD Billion) 

13. Global Wealth Management, Fintech Market, By Region, 2020-2033 (USD Billion) 

14. Global Insurance, Fintech Market, By Region, 2020-2033 (USD Billion) 

15. Global Digital Lending and Lending Marketplaces, Fintech Market, By Region, 2020-2033 (USD Billion) 

16. Global Others, Fintech Market, By Region, 2020-2033 (USD Billion) 

17. Global Fintech Market, By Providers, 2020-2033 (USD Billion) 

18. Global Banks, Fintech Market, By Region, 2020-2033 (USD Billion) 

19. Global Non-Banking Finance Companies, Fintech Market, By Region, 2020-2033 (USD Billion) 

20. Global Investment Firms, Fintech Market, By Region, 2020-2033 (USD Billion) 

21. Global Payment Processor, Fintech Market, By Region, 2020-2033 (USD Billion) 

22. Global Others, Fintech Market, By Region, 2020-2033 (USD Billion) 

23. Global Fintech Market, By Region, 2020-2033 (USD Billion) 

24. North America Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

25. North America Fintech Market, By Technology, 2020-2033 (USD Billion) 

26. North America Fintech Market, By Application, 2020-2033 (USD Billion)

27. North America Fintech Market, By Providers, 2020-2033 (USD Billion) 

28. U.S. Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

29. U.S. Fintech Market, By Technology, 2020-2033 (USD Billion) 

30. U.S. Fintech Market, By Application, 2020-2033 (USD Billion) 

31. U.S. Fintech Market, By Providers, 2020-2033 (USD Billion) 

32. Canada Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

33. Canada Fintech Market, By Technology, 2020-2033 (USD Billion) 

34. Canada Fintech Market, By Application, 2020-2033 (USD Billion) 

35. Canada Fintech Market, By Providers, 2020-2033 (USD Billion) 

36. Mexico Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

37. Mexico Fintech Market, By Technology, 2020-2033 (USD Billion) 

38. Mexico Fintech Market, By Application, 2020-2033 (USD Billion) 

39. Mexico Fintech Market, By Providers, 2020-2033 (USD Billion) 

40. Europe Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

41. Europe Fintech Market, By Technology, 2020-2033 (USD Billion) 

42. Europe Fintech Market, By Application, 2020-2033 (USD Billion)

43. Europe Fintech Market, By Providers, 2020-2033 (USD Billion) 

44. Germany Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

45. Germany Fintech Market, By Technology, 2020-2033 (USD Billion) 

46. Germany Fintech Market, By Application, 2020-2033 (USD Billion) 

47. Germany Fintech Market, By Providers, 2020-2033 (USD Billion) 

48. France Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

49. France Fintech Market, By Technology, 2020-2033 (USD Billion) 

50. France Fintech Market, By Application, 2020-2033 (USD Billion) 

51. France Fintech Market, By Providers, 2020-2033 (USD Billion) 

52. U.K. Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

53. U.K. Fintech Market, By Technology, 2020-2033 (USD Billion) 

54. U.K. Fintech Market, By Application, 2020-2033 (USD Billion) 

55. U.K. Fintech Market, By Providers, 2020-2033 (USD Billion) 

56. Italy Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

57. Italy Fintech Market, By Technology, 2020-2033 (USD Billion) 

58. Italy Fintech Market, By Application, 2020-2033 (USD Billion) 

59. Italy Fintech Market, By Providers, 2020-2033 (USD Billion) 

60. Spain Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

61. Spain Fintech Market, By Technology, 2020-2033 (USD Billion) 

62. Spain Fintech Market, By Application, 2020-2033 (USD Billion) 

63. Spain Fintech Market, By Providers, 2020-2033 (USD Billion) 

64. Asia Pacific Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

65. Asia Pacific Fintech Market, By Technology, 2020-2033 (USD Billion) 

66. Asia Pacific Fintech Market, By Application, 2020-2033 (USD Billion) 

67. Asia Pacific Fintech Market, By Providers, 2020-2033 (USD Billion) 

68. Japan Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

69. Japan Fintech Market, By Technology, 2020-2033 (USD Billion) 

70. Japan Fintech Market, By Application, 2020-2033 (USD Billion)

71. Japan Fintech Market, By Providers, 2020-2033 (USD Billion) 

72. China Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

73. China Fintech Market, By Technology, 2020-2033 (USD Billion) 

74. China Fintech Market, By Application, 2020-2033 (USD Billion) 

75. China Fintech Market, By Providers, 2020-2033 (USD Billion) 

76. India Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

77. India Fintech Market, By Technology, 2020-2033 (USD Billion) 

78. India Fintech Market, By Application, 2020-2033 (USD Billion) 

79. India Fintech Market, By Providers, 2020-2033 (USD Billion) 

80. South America Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

81. South America Fintech Market, By Technology, 2020-2033 (USD Billion) 

82. South America Fintech Market, By Application, 2020-2033 (USD Billion) 

83. South America Fintech Market, By Providers, 2020-2033 (USD Billion) 

84. Brazil Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

85. Brazil Fintech Market, By Technology, 2020-2033 (USD Billion) 

86. Brazil Fintech Market, By Application, 2020-2033 (USD Billion) 

87. BrazilFintech Market, By Providers, 2020-2033 (USD Billion) 

88. Middle East and Africa Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

89. Middle East and Africa Fintech Market, By Technology, 2020-2033 (USD Billion) 

90. Middle East and Africa Fintech Market, By Application, 2020-2033 (USD Billion) 

91. Middle East and Africa Fintech Market, By Providers, 2020-2033 (USD Billion) 

92. UAE Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

93. UAE Fintech Market, By Technology, 2020-2033 (USD Billion) 

94. UAE Fintech Market, By Application, 2020-2033 (USD Billion) 

95. UAE Fintech Market, By Providers, 2020-2033 (USD Billion) 

96. South Africa Fintech Market, By Deployment Mode, 2020-2033 (USD Billion) 

97. South Africa Fintech Market, By Technology, 2020-2033 (USD Billion) 

98. South Africa Fintech Market, By Application, 2020-2033 (USD Billion) 

99. South Africa Fintech Market, By Providers, 2020-2033 (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 Mode

9. Global Fintech Market Attractiveness Analysis by Technology

10. Global Fintech Market Attractiveness Analysis by Application

11. Global Fintech Market Attractiveness Analysis by Providers

12. Global Fintech Market Attractiveness Analysis by Region

13. Global Fintech Market: Dynamics

14. Global Fintech Market Share by Deployment Mode (2023 & 2033)

15. Global Fintech Market Share by Technology (2023 & 2033)

16. Global Fintech Market Share by Application (2023 & 2033)

17. Global Fintech Market Share by Providers (2023 & 2033)

18. Global Fintech Market Share by Regions (2023 & 2033)

19. Global Fintech Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global fintech market based on below mentioned segments:

Global Fintech Market by Deployment Mode:

  • On-Premises
  • Cloud

Global Fintech Market by Technology:

  • Cyber Security
  • Artificial Intelligence
  • Blockchain
  • Public Cloud Infrastructure
  • Biometrics and Indentify Management
  • Others

Global Fintech Market by Application:

  • Fund and Payment Transfer
  • Wealth Management
  • Insurance
  • Digital Lending and Lending Marketplaces
  • Others

Global Fintech Market by Providers:

  • Banks
  • Non-Banking Finance Companies
  • Investment Firms
  • Payment Processor
  • 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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