ICT Industry Reports

  Rising demand for contactless payments, increased adoption of IOT devices, accelerating economic relief projects and investments in FinTech industry to drive global FinTech market through 2026. According to TechSci Research report,  “ Global FinTech Market By Technology (API; AI; Blockchain; Distributed Computing, Others), By Service (Payment; Fund Transfer; Personal Finance; Loans; Insurance; Others), By Application (Banking; Insurance; Securities & Others), By Region, Competition, Forecast & Opportunities, 2026” , Global FinTech Market was valued USD7301.78 billion in 2020 and is expected to grow at a CAGR of 26.87% during the forecast period on account of increasing popularity of digital payments, the increasing investments in AI, machine learning, blockchain and big data due to its high efficiency to deliver cost-effective services and supporting government initiatives across the globe. Rising internet penetration, adoption of e-commerce platforms across the eco...

As consumers increasingly turn to digital methods for managing their finances, the fintech industry has been registering significant growth in recent years. The growth of e-commerce, rising smartphone penetration, and the emergence of digital payment options are contributing to the rising fintech market value. According to TechSci Research, In 2020, the global fintech market was valued at  USD7301.78 billion , owing to the increasing application of mobile devices and technology-based solutions and rising investments in blockchain and big data. Growing demand for mobile banking applications that allow customers to transact online and transfer money to other users and huge investments by incumbents spurred by competition are supporting the global fintech market growth.  According to some findings, the fintech industry is expected to boost economic growth by 2.2%. Higher digital financial inclusion in payments means increased fintech consumer financing and more financial freedom...