Pulished Date January, 2020
ID: 9105
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APAC Fintech Market segmentation by Service (Payments, Personal Finance, Loans, Insurance, Fund Transfer, Wealth Management and Others), by Application (Banking, Insurance, Trading, Taxation, and Others) - Growth, Trends, and Forecast (2020-2025)

Pulished: January, 2020
ID: 9105
Pages: 98

APAC Fintech Market Size & Growth (2020 – 2025)

The Asia-Pacific Fintech Market is expected to grow at a whopping average annual growth rate of 72.5% from 2019 to 2025 to cross USD 150 billion.

What is Fintech?

FinTech, a combination of the word "finance" and "technology," is a relatively new term that applies to the emerging technologies that help consumers or financial institutions provide services in new and faster ways than traditional methods. If you think about the difference between entering a bank and requesting a balance and the ability to obtain that information in real-time from your phone, you are probably familiar with the impact of FinTech.

Recent Developments and Trends

The Fintech market leader was Ant Financial of Alibaba Group, which observed ten times more Wallet subscriptions and 13 times more average transactions in 2017 than in 2015.

In March 2019, Cognizant completed the acquisition of the Dublin-based Meritsoft financial software company, which will help support Cognizant’s Fintech developments.

In March 2019, WorldFirst acquired the Australian company CurrencyVue to build a global trading platform. As demand for Fintech increases, the market is ready to see more acquisitions in 2019.

Market Drivers 

Cybersecurity is becoming a significant challenge in the information technology sector. Organizations that vulnerable to financial losses due to cyber-attacks are investing heavily in FinTech. Not only does FinTech provide financial data security, but it also offers convenient trading, smooth operation of the financial system and perfect cash flow. Each modern bank has its own mobile application that allows customers to trade online and transfer money to other users around the world. This is creating an essential market for financial technology where suppliers can take advantage of the demands of several banks (old and new banks). The latest innovations are presumed to radically change the way consumers buy, pay, perform bank transactions and buy insurance. The new wave of Fintech technologies is changing customer behavior and interactions today.

Restraints

Unfortunately, the size of the FinTech market lags behind government regulations with strict rules that limit the operation of FinTech applications. In addition, these applications lack the presence of humans. They may be subject to additional convenience fees that apply to transactions, and it is clear that many accounts for the FinTech mobile application are inactive.

Market Segmentation

By Service

Based on the service, the Asia Pacific Fintech market is divided into payments, personal finance, loans, fund transfer, insurance, wealth management and others. The digital payments segment in the regional market is multiplying with the increasing consumer transactions and payments for products and services over the Internet, as well as mobile payments from the point of sale terminals through smartphone applications. The division is predicted to experience a record growth rate over the forecast period.

By Application:

Based on the application, the Asia Pacific Fintech market is segmented as Banking, Insurance, Trading, Taxation and Others. Among these, the banking segment holds a prominent share in the regional market and is likely to continue its dominion in the coming years. The increasing need for secured digital transactions and the advent of several Fintech start-up companies have boosted the adoption of these services in the banking industry.

Regional Analysis

Globally, Asia Pacific is predicted to be the fastest-growing region for the Fintech industry. There are many opportunities in the rapidly changing Asia-Pacific finance technology environment, and investment in them is increasing rapidly. Open banking and other regulatory initiatives are redefining the financial services market, and external providers can access data from previously owned bank customers. China and India have a much greater penetration of Fintech services. Singapore already has the best mobile payment solutions to promote acceptance in the island. With limited partnerships and the first local mentality, there is a risk that the market will not fully realize its potential. 

Key Players

Key participants in the APAC FinTech market include Oscar, ZhongAn, Qufeng, Lufax, Avant, Atom Bank, Kabbage, Kreditech, JD Finance, Nubank, SoFi, Square, Klarna and Funding Circle, among others.

1. Introduction            

    1.1 Market Definition        

    1.2 Scope of the report        

    1.3 Study Assumptions        

    1.4 Base Currency, Base Year and Forecast Periods         

2. Research Methodology            

    2.1 Analysis Design        

    2.2 Research Phases        

        2.2.1 Secondary Research    

        2.2.2 Primary Research     

        2.2.3 Data Modelling    

        2.2.4 Expert Validation    

    2.3 Study Timeline        

3. Report Overview            

    3.1 Executive Summary        

    3.2 Key Inferencees        

4. Market Dynamics            

    4.1 Impact Analysis        

        4.1.1 Drivers    

        4.1.2 Restaints    

        4.1.3 Opportunities    

    4.2 Regulatory Environment         

    4.3 Technology Timeline & Recent Trends        

5. Competitor Benchmarking Analysis            

    5.1 Key Player Benchmarking        

        5.1.1 Market share analysis    

        5.1.2 Products/Service    

        5.1.3 Regional Presence    

    5.2 Mergers & Acquistion Landscape        

    5.3 Joint Ventures & Collaborations        

6. Market Segmentation            

    6.1 Fintech Market, By Service        

        6.1.1 Payments    

        6.1.2 Personal Finance    

        6.1.3 Loans    

        6.1.4 Insurance    

        6.1.5 Fund Transfer    

        6.1.6 Wealth Management    

        6.1.7 Market Size Estimations & Forecasts (2019-2024)    

        6.1.8 Y-o-Y Growth Rate Analysis    

        6.1.9 Market Attractiveness Index    

    6.2 Fintech Market, By Application        

        6.2.1 Banking    

        6.2.2 Insurance    

        6.2.3 Trading    

        6.2.4 Taxation    

        6.2.5 Market Size Estimations & Forecasts (2019-2024)    

        6.2.6 Y-o-Y Growth Rate Analysis    

        6.2.7 Market Attractiveness Index    

7. Geographical Landscape            

    7.1 Identity Governance and Administration Market, by Country        

    7.2 Asia Pacific        

        7.2.1 By Country    

            7.2.1.1 China

            7.2.1.2 India

            7.2.1.3 Japan

            7.2.1.4 South Korea

            7.2.1.5 South East Asia

            7.2.1.6 Australia & NZ

            7.2.1.7 Rest of Asia-Pacific

        7.2.2 By Service    

        7.2.3 By Application    

8. Key Player Analysis            

    8.1 Oscar        

        8.1.1 Business Description    

        8.1.2 Products/Service    

        8.1.3 Financials    

        8.1.4 SWOT Analysis    

        8.1.5 Recent Developments    

        8.1.6 Analyst Overview    

    8.2 ZhongAn        

    8.3 Oufeng        

    8.4 Lufax        

    8.5 Avant        

    8.6 Atom Bank        

    8.7 Kreditech        

    8.8 JD Finance        

    8.9 Nubank        

    8.10 SoFi        

9. Market Outlook & Investment Opportunities            

Appendix            

    List of Tables        

    List of Figures

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

Asia Pacific Fintech Market By By Service, From 2020-2025 ( USD Billion )
Asia Pacific Payments Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Personal Finance Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Loans Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Insurance Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Fund Transfer Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Wealth Management Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Fintech Market By Application, From 2020-2025 ( USD Billion )
Asia Pacific Banking Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Insurance Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Trading Market By Region, From 2020-2025 ( USD Billion )
Asia Pacific Taxation Market By Region, From 2020-2025 ( USD Billion )
Japan Fintech Market By By Service, From 2020-2025 ( USD Billion )
Japan Fintech Market By Application, From 2020-2025 ( USD Billion )
China Fintech Market By By Service, From 2020-2025 ( USD Billion )
China Fintech Market By Application, From 2020-2025 ( USD Billion )
India Fintech Market By By Service, From 2020-2025 ( USD Billion )
India Fintech Market By Application, From 2020-2025 ( USD Billion )
Australia Fintech Market By By Service, From 2020-2025 ( USD Billion )
Australia Fintech Market By Application, From 2020-2025 ( USD Billion )
South Korea Fintech Market By By Service, From 2020-2025 ( USD Billion )
South Korea Fintech Market By Application, From 2020-2025 ( USD Billion )

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