Latest News- Fintech Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Fintech Market is being driven by Influence of digitalization in global fintech market

The Fintech Market is expected to grow at a CAGR of 32.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 813.5 billion. The fintech sector is experiencing a noteworthy trend towards the implementation of blockchain technology, which is gaining widespread acceptance due to its myriad advantages. Notably, blockchain, recognized as the global foremost bitcoin wallet, is increasingly being employed by financial institutions for tasks such as authentication and document verification within the banking system. This technology empowers banks to manage financial transactions more efficiently, resulting in substantial cost savings. One of the most significant benefits of blockchain technology is its capacity to streamline in-house monetary transactions and optimize cost structure settlements. By harnessing blockchain, banks can significantly reduce the time and resources required for transaction processing, leading to substantial savings, estimated in the billions. This technology's transparency, security, and immutability make it an attractive solution for financial institutions seeking to enhance operational efficiency and reduce costs. 

Get more information on Fintech Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud
• End-user
  • Banking
  • Insurance
  • Securities
  • Others
• Application
  • Fraud monitoring
  • KYC verification
  • Compliance and regulatory support
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Influence of digitalization in global fintech market
• Integration of big data and artificial intelligence in fintech
• Innovation and development in technology

However, the market also witnesses some limitations, which are as follows:

• Privacy and security concerns of losing personal information
• Poor Internet connectivity in developing countries in global fintech market
• Lack of skilled workforce in global fintech market

Benefits of Buying Global Fintech Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Fintech Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Fintech market encompasses various solutions and platforms, including Payment Solutions for seamless transactions, Financial Services Platforms for comprehensive money management, Digital Asset Management for investing in digital currencies, Automated and Algorithmic Trading for data-driven investments, Quantitative Finance and Financial Modeling for complex financial analysis, Risk Modeling and Financial Reporting for accurate insights, Compliance Software for regulatory adherence, Identity Verification and Biometric Authentication for secure access, Fraud Prevention and Anti-Money Laundering (AML) for financial security, Data Privacy and Data Governance for confidential information protection, Customer Experience (CX), User Interface (UI), and User Experience (UX) for engaging interfaces, Mobile App Development and Cloud-Based Solutions for accessibility, Security Protocols, Data Encryption, Blockchain Security for data protection, Financial Inclusion Initiatives, Financial Literacy Programs, Financial Empowerment, Impact Investing, Sustainable Finance, Green Finance, Digital Identity Solutions, Identity Management, Digital Onboarding, Customer Segmentation, Financial Education, Investment Education, Financial Planning, Budgeting Tools, Savings Accounts, and Investment Accounts.

Market Research Overview

The Fintech industry, a segment of the global Technology Hardware, Storage, and Peripherals market, is experiencing significant growth due to the increasing demand for Digital Banking, Mobile Payments, and Investment Management solutions. According to Technavio's market analysis, key drivers include the escalating volume, velocity, veracity, and variety (4Vs) of data, necessitating advanced data storage solutions. This trend is particularly evident in the proliferation of Fintech Startups, which are revolutionizing traditional financial services with innovative technologies. The global Technology Hardware, Storage, and Peripherals market size is determined by revenue generated from hardware sales, with growth anticipated due to the expanding Fintech sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/