What is the global fintech market size in 2023? (2024)

What is the global fintech market size in 2023?

KEY MARKET INSIGHTS

What is the fintech market size?

Most Accurate Industry Forecast. The global FinTech market size is poised for significant growth, with a valuation of USD 257.26 billion in 2022 and projected to reach USD 882.30 billion by 2030, growing at a CAGR of 17% during the forecast period 2023 to 2030.

What is the size of the fintech market 2025?

What is the fintech market in 2024?

Fintech Trends 2024: A Shift in Focus

Artificial intelligence emerges as the frontrunner, capturing the attention of 27.08% of Velmie annual market research respondents, surpassing the prominence of Open banking. Digital currencies also gain traction, reflecting the industry's dynamic nature.

How fast is the fintech market growing?

The largest market will be Digital Assets with a AUM of US$80.08bn in 2024. The average AUM per user in the Digital Assets market is projected to amount to US$96.05 in 2024. The Digital Assets market is expected to show a revenue growth of 17.38% in 2025.

Is the fintech industry growing?

Over the past decade, the global financial technology (fintech) industry has experienced a surge in growth. Digital banking and financial services are proving transformative, both in developed economies and also in regions where billions of people have previously struggled to access banking services.

How big is the fintech market in the US?

US Fintech Market Analysis

The United States Fintech market reached a size of USD 4 trillion in the current year and registered a CAGR of 11% over the period of the forecast.

What is the largest fintech market?

The Asia-Pacific region is the largest digital payments market, with India and China proximity mobile payment users alone taking up two-thirds of the global users.

What are the statistics of fintech?

In the first half of 2021, investment in fintech companies reached a then-record-breaking $98 billion - a $19.9 billion increase in the second half of 2020. By the end of 2021, fintech investment reached $210 billion. But in H1 2023, investment fell 49% from around $46 billion in H2 2022 to $23 billion.

Is FinTech a fast growing industry?

According to the report, the global fintech industry remains strong, with customer growth rates averaging above 50% across industry verticals and regions.

Is FinTech a 4.0 industry?

Only now, and as a conclusion, can a concrete definition be provided for what we call the "FinTech 4.0." FinTech 4.0 is the financial value-added services offered through "Digital Platforms" that connect multisided markets.

What is the future outlook for FinTech?

The future of fintech will continue to be defined by customer demand for speed, convenience, and choice. Traditional business models are being challenged. With apps increasingly serving as the entry point for services, the market for financial services has opened to non-traditional competitors.

What is the fintech market size for 2030?

Fintech Market Size Projected To Grow To $882 Billion By 2030 as Advanced Technologies & Services Expand. PALM BEACH, Fla., March 19, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - FinTech companies provide various financial technology services, tools, or solutions to other businesses (B2B) as a service.

How much is the fintech market worth in 2030?

How big is the fintech market? The global fintech market size was USD 257.26 billion in 2022. It is expected to reach USD 882.30 billion by 2030.

What is the fintech prediction for 2030?

A report from Fortune Business Insights projected that the fintech market size is projected to grow to USD 882.30 billion by 2030, exhibiting a CAGR of 17% during the forecast period (2023-2030). The report said: “The pandemic accelerated the digital transformation of financial services.

Which is the fastest growing fintech market in the world?

Significance of the Asia-Pacific Region

China and India are at the forefront, with China currently boasting a formidable presence as one of the largest fintech markets globally. Innovative payment solutions and increased digital adoption drive this growth, with India also showing remarkable market expansion.

Which countries are growing fastest in fintech?

While US is home to 134 unicorns and produces the most value in terms of fintech, UK took second place with 27 fintech unicorns and India secured the third position with 17 fintech unicorns in 2023 so far.

Why is fintech declining?

A combination of global challenges, including high interest rates and persistent inflation in various regions, as well as conflicts in Ukraine and the Middle East, coupled with declining valuations and a subdued exit landscape, led to a growing sense of caution among fintech investors.

Is fintech an industry in decline?

Fintech funding is down and has been in decline since 2021. Industry insiders, however, see the trend as more of a stabilization than a downturn — and describe an environment of opportunity for regional and community banks to get in on the fintech partnership game.

Why is fintech booming?

The global fintech industry is booming, with customer demand driving growth. In developing nations, digital innovation by fintech companies has allowed entire economies to bypass the high-street bank system, and offer a multitude of options to people who would likely be excluded from traditional banking systems.

Is fintech still hot?

But still, fintech is the sector with the most investment rounds worldwide. It raised $21.5 billion globally in Q2 2022. About 90% of people in the USA use fintech services now. Global quarantines and lockdowns have made digital financial processes more customer-focused.

Which country has the biggest fintech industry?

In 2023, the United States ranked first in terms of the number of fintech unicorns globally, having roughly five times more of these companies than the United Kingdom, which ranked second.

Which country has the highest fintech?

It's no secret that the United States has the best fintech ecosystem in the world, with the United Kingdom and Singapore trailing closely behind. Their winning combination of available talent, healthy competition, enabling regulations, and financial stability gives them an edge that's hard to beat.

What is the fintech capital of the US?

"New York and London may be global financial services leaders, but Atlanta is the unsung — so far — leader in financial technology," writes Tom Groenfeldt for Forbes magazine, noting that, 70 percent of all global financial transactions pass through companies headquartered in Metro Atlanta.

What is the top 5 global fintech hub?