Authored By: Sarah
28 Feb 2023

Fintech Market Size to Grow by USD 277.22 Billion at a CAGR of 20.5% Between 2022 and 2027

The fintech market share is expected to grow at a CAGR of 20.5% between 2022 and 2027. The influence of digitalization and the growing popularity of blockchain provides a promising ground for the fintech market. 

The demand for smart connected devices is growing rapidly worldwide owing to the internet revolution. The increase in the number of connected devices around the world is a major factor driving the demand for FinTech software.

Technavio’s analysis of the “Fintech Market” projects that the market share is expected to increase by USD 277.22 billion at an accelerating CAGR during 2023-2027. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 74.26 billion.

Browse Technavio's 153-page report and in-depth TOC on "Fintech Market by application (on-premise and cloud), end-user (banking, insurance, securities, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

View detailed Table of Contents Here: https://www.technavio.com/report/fintech-market-analysis

Fintech Market Size to Grow by USD 277.22 Billion at a CAGR of 20.5% Between 2022 and 2027 

On-premise to be the Fastest-Growing Fintech Market Segment 

The fintech market is segmented by application (on-premise and cloud), end-user (banking, insurance, securities, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

The market share growth by the on-premise segment will be significant during the forecast period. Large financial institutions that deal with multiple transactional information daily prefer on-premise fintech software solutions, as they provide an optimum level of data security with physical access controls and security protocols.

Privacy and Security Concerns Pose a Significant Challenge 

Privacy and security concerns are major challenges impeding the market. The adoption of fintech business models and platforms is low despite the high penetration of the internet. Since smartphones are used for financial transactions in real-time, data theft can lead to financial losses for consumers and reputational losses for service providers.

Major Fintech Market Vendors 

The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.  

Some of the major fintech market vendors are Acorns Advisers LLC, Adyen NV, Affirm Inc., AlphaSense Inc, Avant LLC, Barker Brooks Communications Ltd., Camden Town Technologies Pvt Ltd., CLYDE TECHNOLOGIES, INC, Earnest Fintech, FinTech Sandbox Inc., International Business Machines Corp., Microsoft Corp., PayPal Holdings Inc., SIGMOIDAL LLC., SoFi Technologies Inc., Stripe Inc., Upstart Network Inc., Fundrise LLC, and Alphabet Inc.

adyen.com - The company is into financial technology with products such as payment platforms and other financial products

affirm.com- The company is into financial technology with payments infrastructure for the internet.

alpha-sense.com- The company is into financial technology with several financial products across banking, capital markets, insurance, and payments to support data-driven innovation.

Download the PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.   

Key Data Covered in the Fintech Market Report  

  • Precise market size estimation during the forecast period 2023-2027. 

  • CAGR of the fintech market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the fintech market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the fintech market.  

  • Fintech market growth across APAC, North America, Europe, South America, and Middle East and Africa.

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