FinTech Industry Report 2020-2025 - Trends, Developments and Growth Deviations Arising from the COVID-19 Pandemic

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Jun 19, 2020, 12:15 ET

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DUBLIN, June 19, 2020 /PRNewswire/ -- The "Global FinTech Market By Technology (API; AI; Blockchain; Distributed Computing), By Service (Payment; Fund Transfer; Personal Finance; Loans; Insurance; Wealth Management), By Application, By Deployment Mode, By Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Fintech Market is anticipated to grow at a CAGR of around 20% during the forecast period. The market is expected to witness progressive growth and reach the market value of around $305 billion by 2025.The key reason for the growth of the fintech market includes high investment in technology-based solutions by banks and firms. Moreover, the infrastructure-based technology and APIs are reshaping the future of the financial services industry, thus aiding the growth of the Global Fintech Market. Furthermore, financial technology companies are delivering low-cost personalized products on account of emerging developments in the technology sector, leading to rising customer expectations, thereby, boosting the market growth globally.The Global Fintech Market can be segmented based on technology, service, application, deployment mode and regional analysis. Based on technology, the market can be segmented into API, AI, Blockchain and Distributed Computing. Among them, significant growth is expected to be witnessed in areas of artificial intelligence and blockchain during the forecast years. AI interfaces and chatbots have primarily redefined customer service, and its expanding business will enable AI-oriented fintech market to grow at a CAGR of around 21% in the next 5 years.Based on region, the market is segregated into North America, Europe, South America, Asia-Pacific and Middle East and Africa. Among them, North America was the leading contributor until 2019 and is expected to maintain its dominance in the forthcoming years as well which can be attributed to high adoption and development of major technologies involved in the fintech sector in the region.The major players operating in the Global Fintech Market include Robinhood, Ant Financial, Paytm, Shanghai Lujiazui International Financial Asset Exchange, Oscar Insurance Corporation, Credit Karma, Kabbage, Atom Bank, Onfido, Uipath, and Microsoft. Major companies are developing advanced technologies in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.Years considered for this report:

  • Historical Years: 2015-2018