Fintech Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 Investment in financial technologies has increased significantly in many parts of the world. Between 2010 and 2019, the total value of investments in fintech companies increased dramatically, reaching USD 215.1 billion. However, investments in fintech companies fell by more than one-third in 2020, reaching USD 127.7 billion, but increased again in 2021, reaching USD 226.5 billion. The United States attracted the most investments in the sector, accounting for nearly 80% of the total. This investment trend in financial technology is expected to create lucrative growth prospects for the market.

The Global Fintech Market size is estimated at USD 204.30 billion in 2023, and is expected to reach USD 355.57 billion by 2028, growing at a CAGR of 11.72% during the forecast period (2023-2028).

FinTech (Financial Technology) is now a buzzword in the financial market. It refers to computer programs and other modern technologies used by businesses that provide automated and improved financial services. Over the years, the fintech industry has evolved in significant ways, leading to the transformation of companies into customer-centric businesses. Thus, finding a place among a plethora of companies ranging from startups to tech companies to established firms all over the world is not easy. With either a collaborative or a challenging approach, financial services companies and tech companies have taken up each other's lanes and are progressing with disruptive and innovative propositions in an ever-evolving business landscape.

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Various crises have acted as the catalyst for the development of the FinTech market. Since the last global financial crisis, investments in Fintech have been growing. The expansion of the sector was largely a technological response to the shortcomings of the traditional financial services industry, which came under extreme pressure during and after the crisis. Similarly, COVID-19 also severely impacted the global economy and initiated the recession.



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