The global fintech size is expected to reach USD 190.80 Billion in 2028 and register a CAGR of 8.5% over the forecast period, according to the latest report by Reports and Data. Major factors driving revenue growth are rising demand for smartphones and banking apps, increasing investment by private investors in fintech companies, rapid Internet penetration, implementation of Artificial Intelligence (AI) and blockchain technologies across various operations and processes, and increasing disposable income. Fintech or financial technology is a combination of financial solutions and advanced technologies. Fintech is based on advanced technologies and solutions for delivering value-added banking and financial solutions more efficiently. Financial organizations and banks are using various technologies and solutions such as AI, analytics, blockchain, mobile commerce, cloud infrastructure, cryptography, biometrics, cybersecurity, and RPA to offer more advanced and effective financial solutions and to improve their customer experience.
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Some key applications of fintech are retail banking, stock trading firms, investment banking, hedge funds, and others. Retail banking segment accounted for largest revenue share in the global in 2020. This can be attributed to rising preference for retail banking due to its many advantages, including multiple product offering such as deposits, insurance, credit cards securities, and investments, availability of feasible loan options, and public wealth safety.
Market Dynamics:
The automotive industry revenue has expanded significantly over the recent past and is expected to register robust revenue CAGR over the forecast period. Technological advancements in the automotive sector, rising sales of passenger cars and commercial vehicles are key factors fueling global market revenue growth. In addition, rising demand for luxurious cars and comfortable driving, increasing sales of electric vehicles owing to rising awareness about excess carbon emission are fueling growth. In addition, increasing adoption of autonomous cars due to rising number of road accidents, and rising demand for green vehicles are expected to boost growth going ahead. Growing shift towards hybrid and electric vehicles in order to reduce carbon emissions and mitigate global warming has significantly contributed to the revenue growth of the automotive sector. OEMs and automotive companies account for a significant share in the global.
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Some Key Highlights From the Report:
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Fintech Segmentation & Impact Analysis
4.1. Fintech Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Implementation of blockchain
4.2.2.2. Rising demand for mobile banking
4.2.3. Market restraints analysis
4.2.3.1. Concerns regarding data safety
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence…
For the purpose of this report, Reports and Data has segmented the fintech based on technology, services, application, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
Services Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/fintech-market
Read More:
Top 9 Trends That Will Shape the Automotive Industry In 2021
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