FinTech - GCC

The [currentlayername] in gcc is expected to witness significant growth in the coming years.
One of the largest segments within this market is Digital Assets, which is projected to have a total transaction value of US$1,655.00m in 2024.
This indicates the strong demand for digital investment products and services in the region.
In terms of average transaction value per user, the Digital Assets market is estimated to reach US$133.30 in 2024.
This metric highlights the value that users are willing to invest in digital investment platforms and showcases the potential profitability of this market segment.
Another promising segment in the gcc [currentlayername] is Digital Assets.
It is expected to experience a revenue growth of 12.92% in 2025.
This growth indicates the increasing adoption of digital assets and the potential for generating substantial revenue within this market.
The Digital Payments market is also poised for significant expansion in the gcc region.
By 2028, the number of users in this market segment is projected to reach 57.34m users.
This indicates the growing preference for digital payment solutions and the increasing digitization of financial transactions in the gcc countries.
It is worth noting that due to the diverse nature of [currentlayername] products and services, such as the variations in loan origination volume in alternative lending and the assets under management in robo-advisors, it is not possible to calculate a total transaction value for all markets combined.
Each market segment has its unique key performance indicators (kpis) that contribute to its overall growth and success.
Overall, the gcc [currentlayername] showcases immense potential for growth and innovation.
The increasing adoption of digital financial solutions and the rising demand for diverse [currentlayername] products indicate a promising future for the market in the region.
The FinTech market in the GCC is experiencing rapid growth, driven by increased government support and a young, tech-savvy population.

Key regions: United States, China, Japan, Asia, Europe

Definition:

Fintech, abbreviated for financial technology, refers to the use of technology to improve and automate traditional financial services and processes. This includes a variety of products and services such as online banking, mobile payments, peer-to-peer lending, digital wallets, and financial management tools. Fintech companies often use advanced technologies such as artificial intelligence, blockchain, and big data to create new financial products and services that are more efficient, accessible, and user-friendly than traditional financial institutions. The Fintech market includes startups, established financial companies, and other companies that use technology to disrupt and innovate in the financial services industry.

Structure:

The five markets in Fintech include digital payments, digital investments, digital capital raising, digital assets, and neobanking. The market for digital payments includes digital trade transactions, mobile point-of-sale payments, and digital transfers. Digital investments include robo-advisors and neobrokers. Digital capital raising consists of crowdfunding, crowd investing, crowd lending, and marketplace lending. The market for digital assets includes cryptocurrencies, NFTs, and DeFi, and the neobanking segment focuses on digital banks.

Additional information:

The market includes transaction values, revenues, assets under management (AUM), users, average revenue per user, average transaction value per user, average AUM per user, and user penetration rates. The transaction values in the digital payments segment refer to consumer transactions made through the internet or mobile wallets. The revenues shown are from the income generated by cryptocurrency exchanges, online trading platforms, and neobanks. The market only shows B2C revenues and users for the above-mentioned segments and subsegments; B2B and B2G revenues are not included. Further definitions for each market can be found on the respective pages.

Market

Region

Region comparison

Currency

Analyst Opinion

The fintech market is rapidly evolving, with digital payments, digital investment, digital capital raising, digital assets, and neobanking emerging as some of the most significant trends. Digital payments have seen an unprecedented surge in popularity, with consumers increasingly relying on mobile payment solutions for their day-to-day transactions. Digital investment platforms are also gaining traction, with individuals seeking low-cost and easy-to-use investment options. Additionally, digital capital raising has become an attractive option for startups and SMEs, as it provides an efficient way to access funding. The rise of digital assets, such as cryptocurrencies and NFTs, has also created new opportunities for investors and traders. Finally, neobanks have disrupted the traditional banking industry by providing innovative, customer-centric solutions that cater to the needs of today's digital-savvy consumers.
The growth in the fintech market is driven by several factors. Firstly, the increasing adoption of smartphones and the internet has made digital solutions more accessible to consumers, leading to a surge in demand for fintech services. Secondly, the COVID-19 pandemic has accelerated the shift towards digital payments and investments, as consumers have had to adapt to remote and contactless transactions. Thirdly, regulatory changes have enabled fintech companies to compete with traditional financial institutions on a more level playing field. Finally, advancements in technology, such as AI and blockchain, have opened up new possibilities for fintech innovation, driving further growth in the market.
The fintech market is expected to continue its rapid growth trajectory, driven by ongoing technological advancements, changing consumer behavior, and regulatory support. Digital payments are likely to remain a dominant trend, as consumers increasingly prefer the convenience and speed of mobile payment solutions. Digital investment platforms are also expected to grow in popularity, as more individuals seek to manage their finances online. Additionally, the rise of digital assets and neobanking is likely to continue, as these trends reshape the financial landscape. Overall, the fintech market is expected to remain dynamic and innovative, with new solutions and services emerging to meet evolving consumer needs.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.