NEW YORK, July 7, 2023 /PRNewswire/ — The fintech software market is set to grow by USD 24,277.91 million from 2023 to 2027, progressing at a CAGR of 8.82% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by Need to improve business efficiency. The integration of big data and AI in fintech is notably driving market growth. Fintech companies are looking for ways to store, process and search large amounts of data. These companies can use such analytics to identify opportunities in new products and services, segment their customer base, and optimize pricing structures. Big data analytics can assist companies in identifying abnormal transactions that might indicate fraud or cybersecurity breaches. Robotic process automation in fintech firms will be led to lower transaction costs and more transparent profitability analysis of daily financial service portfolios. Thus, such benefits are expected to fuel the growth of the global market during the forecast period.-Here is an Exclusive report about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!
The fintech software market covers the following areas:
Fintech Software Market Sizing
Fintech Software Market Forecast
Fintech Software Market Analysis
The report on the fintech software market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Fintech Software Market 2023-2027 – Market Dynamics
Key Trend –
- The adoption of cloud-based services is an emerging trend in the market. As they are easily accessible and affordable, cloud services are widely used by many financial organizations.
- The largest banks and insurance companies have incorporated cloud-based software into their operations. Microsoft and Amazon Web Services platforms that register create, deploy, and manage intelligent services are used by banking institutions to deliver cloud services.
- Moreover, to improve the user experience, such services give users the option to incorporate Microsoft Cognitive Services. Fintech as a service delivered through the cloud is an on-premises service and shares many of its features which are being implemented using a cloud computing framework.
- Hence, the rising adoption of cloud-based services is the key trend that is notably boosting the growth of the market during the forecast period.
Significant Challenges –
- Data privacy and security concerns are the major challenges impeding the growth of the market. Remarkable barriers to the adoption of fintech software in organizations include data privacy and security risks.
- Data from connected servers can be tracked, accessed, and analyzed using big data and AI. These technologies can change the functionality of servers by using artificial intelligence to change algorithms.
- Hackers can easily access cloud-based data storage systems because cloud-based infrastructure is built on open architecture and shared resources.
- Thus, various organizations are doubtful about deploying fintech software in their operations, which is likely to impede the growth of the market during the forecast period.
Fintech Software Market 2023-2027 : Market Segmentation
The fintech software market segmentation by deployment (cloud-based and on-premise), end-user (banking, insurance, and securities), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
- The market share growth by the cloud based segment will be significant during the forecast period. The demand for cloud-based deployment models is anticipated to increase owing to features like rapid deployment, enhanced flexibility and scalability, real-time data visibility, and the ability for customization. A combination of automation with other software solutions is made possible through the use of cloud-based deployment. In addition, cloud-based fintech software solutions are being adopted by a number of financial institutions because they offer scalability, lower IT costs, and other advantages. Hence, due to such factors, the segment is expected to grow during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
What’s New? –
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!
Companies Mentioned
- Accenture Plc
- Bankable Domain Inc.
- Blockstream Corp. Inc.
- DXC Technology Co.
- Fingent
- Hewlett Packard Enterprise Co.
- Infosys Ltd.
- Intel Corp.
- Intellectsoft LLC
- iTechArt Group Inc.
- LeewayHertz
- Microsoft Corp.
- Oracle Corp.
- Praxent LLC
- Red Hat Inc.
- SAP SE
- SAS Institute Inc.
- Serokell OU
- Cisco Systems Inc.
- International Business Machines Corp.
- Accenture Plc: The company offers fintech software such as FinTech Innovation Lab.
- Cisco Systems Inc: The company offers fintech software such as Webex.
- International Business Machines Corp.: The company offers fintech software such as FinTech Innovation Lab.
Related Reports:
The fintech market is estimated to grow at a CAGR of 20.5% between 2022 and 2027. The size of the market is forecast to increase by USD 277.22 billion. This report extensively covers market segmentation 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 influence of digitalization is notably driving the market growth.
The fintech investment market share is expected to increase by USD 54.56 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.76%. This report extensively covers fintech investment market segmentations by investment area (digital payments, insurance, and others) and geography (APAC, North America, Europe, South America, and MEA). The disintermediation of banking services is notably driving the fintech investment market growth.
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| Fintech Software Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 8.82% |
| Market growth 2023-2027 | USD 24,277.91 million |
| Market structure | Fragmented |
| YoY growth 2022-2023(%) | 7.5 |
| Regional analysis | North America, APAC, Europe, South America, and Middle East and Africa |
| Performing market contribution | North America at 35% |
| Key countries | US, China, Japan, UK, and France |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Accenture Plc, Bankable Domain Inc., Blockstream Corp. Inc., DXC Technology Co., Fingent, Hewlett Packard Enterprise Co., Infosys Ltd., Intel Corp., Intellectsoft LLC, iTechArt Group Inc., LeewayHertz, Microsoft Corp., Oracle Corp., Praxent LLC, Red Hat Inc., SAP SE, SAS Institute Inc., Serokell OU, Cisco Systems Inc., and International Business Machines Corp. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Content
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global fintech software market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global fintech software market 2017 – 2021 ($ million)
- 4.2 Deployment Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)
- 4.3 End user Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – End user Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Deployment
- 6.1 Market segments
- Exhibit 30: Chart on Deployment – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Deployment – Market share 2022-2027 (%)
- 6.2 Comparison by Deployment
- Exhibit 32: Chart on Comparison by Deployment
- Exhibit 33: Data Table on Comparison by Deployment
- 6.3 Cloud based – Market size and forecast 2022-2027
- Exhibit 34: Chart on Cloud based – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Cloud based – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Cloud based – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Cloud based – Year-over-year growth 2022-2027 (%)
- 6.4 On-premise – Market size and forecast 2022-2027
- Exhibit 38: Chart on On-premise – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on On-premise – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on On-premise – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on On-premise – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Deployment
- Exhibit 42: Market opportunity by Deployment ($ million)
- Exhibit 43: Data Table on Market opportunity by Deployment ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 44: Chart on End-user – Market share 2022-2027 (%)
- Exhibit 45: Data Table on End-user – Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 46: Chart on Comparison by End-user
- Exhibit 47: Data Table on Comparison by End-user
- 7.3 Banking – Market size and forecast 2022-2027
- Exhibit 48: Chart on Banking – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Banking – Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Banking – Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Banking – Year-over-year growth 2022-2027 (%)
- 7.4 Insurance – Market size and forecast 2022-2027
- Exhibit 52: Chart on Insurance – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Insurance – Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Insurance – Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Insurance – Year-over-year growth 2022-2027 (%)
- 7.5 Securities – Market size and forecast 2022-2027
- Exhibit 56: Chart on Securities – Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Securities – Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Securities – Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Securities – Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by End-user
- Exhibit 60: Market opportunity by End-user ($ million)
- Exhibit 61: Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 67: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 APAC – Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.5 Europe – Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.6 South America – Market size and forecast 2022-2027
- Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 China – Market size and forecast 2022-2027
- Exhibit 91: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.10 Japan – Market size and forecast 2022-2027
- Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)
- 9.11 UK – Market size and forecast 2022-2027
- Exhibit 99: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.12 France – Market size and forecast 2022-2027
- Exhibit 103: Chart on France – Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on France – Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on France – Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on France – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ million)
- Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 112: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 113: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification
- 12.3 Accenture Plc
- Exhibit 115: Accenture Plc – Overview
- Exhibit 116: Accenture Plc – Business segments
- Exhibit 117: Accenture Plc – Key offerings
- Exhibit 118: Accenture Plc – Segment focus
- 12.4 Cisco Systems Inc.
- Exhibit 119: Cisco Systems Inc. – Overview
- Exhibit 120: Cisco Systems Inc. – Business segments
- Exhibit 121: Cisco Systems Inc. – Key news
- Exhibit 122: Cisco Systems Inc. – Key offerings
- Exhibit 123: Cisco Systems Inc. – Segment focus
- 12.5 DXC Technology Co.
- Exhibit 124: DXC Technology Co. – Overview
- Exhibit 125: DXC Technology Co. – Business segments
- Exhibit 126: DXC Technology Co. – Key news
- Exhibit 127: DXC Technology Co. – Key offerings
- Exhibit 128: DXC Technology Co. – Segment focus
- 12.6 Fingent
- Exhibit 129: Fingent – Overview
- Exhibit 130: Fingent – Product / Service
- Exhibit 131: Fingent – Key offerings
- 12.7 Hewlett Packard Enterprise Co.
- Exhibit 132: Hewlett Packard Enterprise Co. – Overview
- Exhibit 133: Hewlett Packard Enterprise Co. – Business segments
- Exhibit 134: Hewlett Packard Enterprise Co. – Key news
- Exhibit 135: Hewlett Packard Enterprise Co. – Key offerings
- Exhibit 136: Hewlett Packard Enterprise Co. – Segment focus
- 12.8 Infosys Ltd.
- Exhibit 137: Infosys Ltd. – Overview
- Exhibit 138: Infosys Ltd. – Business segments
- Exhibit 139: Infosys Ltd. – Key news
- Exhibit 140: Infosys Ltd. – Key offerings
- Exhibit 141: Infosys Ltd. – Segment focus
- 12.9 Intel Corp.
- Exhibit 142: Intel Corp. – Overview
- Exhibit 143: Intel Corp. – Business segments
- Exhibit 144: Intel Corp. – Key news
- Exhibit 145: Intel Corp. – Key offerings
- Exhibit 146: Intel Corp. – Segment focus
- 12.10 Intellectsoft LLC
- Exhibit 147: Intellectsoft LLC – Overview
- Exhibit 148: Intellectsoft LLC – Product / Service
- Exhibit 149: Intellectsoft LLC – Key offerings
- 12.11 International Business Machines Corp.
- Exhibit 150: International Business Machines Corp. – Overview
- Exhibit 151: International Business Machines Corp. – Business segments
- Exhibit 152: International Business Machines Corp. – Key offerings
- Exhibit 153: International Business Machines Corp. – Segment focus
- 12.12 iTechArt Group Inc.
- Exhibit 154: iTechArt Group Inc. – Overview
- Exhibit 155: iTechArt Group Inc. – Product / Service
- Exhibit 156: iTechArt Group Inc. – Key offerings
- 12.13 Microsoft Corp.
- Exhibit 157: Microsoft Corp. – Overview
- Exhibit 158: Microsoft Corp. – Business segments
- Exhibit 159: Microsoft Corp. – Key news
- Exhibit 160: Microsoft Corp. – Key offerings
- Exhibit 161: Microsoft Corp. – Segment focus
- 12.14 Oracle Corp.
- Exhibit 162: Oracle Corp. – Overview
- Exhibit 163: Oracle Corp. – Business segments
- Exhibit 164: Oracle Corp. – Key news
- Exhibit 165: Oracle Corp. – Key offerings
- Exhibit 166: Oracle Corp. – Segment focus
- 12.15 Red Hat Inc.
- Exhibit 167: Red Hat Inc. – Overview
- Exhibit 168: Red Hat Inc. – Product / Service
- Exhibit 169: Red Hat Inc. – Key offerings
- 12.16 SAP SE
- Exhibit 170: SAP SE – Overview
- Exhibit 171: SAP SE – Business segments
- Exhibit 172: SAP SE – Key news
- Exhibit 173: SAP SE – Key offerings
- Exhibit 174: SAP SE – Segment focus
- 12.17 SAS Institute Inc.
- Exhibit 175: SAS Institute Inc. – Overview
- Exhibit 176: SAS Institute Inc. – Product / Service
- Exhibit 177: SAS Institute Inc. – Key news
- Exhibit 178: SAS Institute Inc. – Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 179: Inclusions checklist
- Exhibit 180: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 181: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 182: Research methodology
- Exhibit 183: Validation techniques employed for market sizing
- Exhibit 184: Information sources
- 13.5 List of abbreviations
- Exhibit 185: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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