According to a new report, published by KBV research, The Global Fintech-as-a-Service Market size is expected to reach $681.6 billion by 2028, rising at a market growth of 16.9% CAGR during the forecast period.
The Artificial Intelligence segment is showcasing CAGR of 17.3% during (2022 - 2028). It is due to the increasing use of AI in businesses for better decision-making, query resolution, quicker processing, and greater efficiency. Additionally, AI encourages innovation within businesses, which produces tailored, quick, and safe services with a greater degree of consumer satisfaction and reach. The segment is anticipated to grow as a result of these improvements that many businesses are pursuing to acquire a competitive edge and solidify their market position.
The Insurance segment acquired maximum revenue share in the Global Fintech-as-a-Service Market by End-use in 2021 thereby, achieving a market value of $240.6 billion by 2028. It is because Fintech-as-a-Service platforms are used by insurance companies to process claims and calculate risks accurately, which is projected to fuel the segment's growth. In addition, insurers are collaborating with fintech companies to cut down on processing fees and client retention times.
The Fund Transfer segment has shown growth rate of 17.8% during (2022 - 2028). Fund transfers typically refer to sending and receiving money using electronic payment methods. International adoption of fund transfer apps is anticipated to increase demand and propel the segment's expansion. Numerous fintech businesses are working to create fund transfer apps with cutting-edge user interfaces that will improve the user experience. These elements are promoting the segment's expansion.
The Compliance & Regulatory Support segment is generating highest revenue share the Global Fintech-as-a-Service Market by Application in 2021 thereby, achieving a market value of $234.9 billion by 2028. Regulatory compliance is when a company complies with all applicable local, national, and international rules and regulations. The particular requirements can differ, mostly dependent on the sector and nature of the business. Following external legal requirements established by the local, national, or international government is known as regulatory compliance.
The North America market dominated the Global Fintech-as-a-Service Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $229.8 billion by 2028. The Europe market is exhibiting a CAGR of 16.5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 17.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fintech-as-a-service-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of PayPal Holdings, Inc., Mastercard, Inc., Upstart Network, Inc., Block, Inc., Envestnet, Inc., SoFi Technologies, Inc., Rapyd Financial Network Ltd., Solid Financial Technologies, Inc., Synctera Inc., and Railsbank Technology Ltd. (Railsr).
By Technology
By End Use
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By Geography
Companies Profiled
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