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Fintech Market Size
The 2017 market size for the global fintech market was $108.36 billion. The market grew 17.5% (calculations below) between 2017 and 2018. It is expected to grow at a CAGR of 8.28% from 2018 until 2024.
Global fintech market size and CAGR
- The market size for the global fintech industry was $108.36 billion in 2018.
- According to our calculations, the annual growth for 2017-2018 was 17.5% (calculations below).
- The industry will grow at a CAGR of 11.72% between 2019 and 2024, while the predicted CAGR for 2018-2024 is 8.28%.
- Mordor Intelligence estimates that the 2019 market size will be $127.32 billion.
- In 2017, the global fintech market was valued at $94.44 billion.
Helpful findings
- The APAC region has a 40% share of the global fintech market, accounting for $37.95 billion of the total revenue. (Source 1)
- Global fintech funding grew from $50.8 billion in 2017 to $111.8 billion in 2018 thanks to multi-billion M&A and buyout deals.
- The total transaction value in the global fintech market is expected to grow from approximately $5.49 trillion in 2019 to $9.82 trillion in 2023, at a CAGR of 15.64%.
- The global artificial intelligence (AI) in the fintech market is expected to grow from $1.34 billion in 2017 to $7.31 billion, at a CAGR of 40.4%.
- The global fintech blockchain market was valued at $370 million in 2017. It is expected to grow at a CAGR of 75.9% until 2023 when the market size will reach $6.23 billion.
Research Strategy:
To provide information on the past growth in the industry, the research team used Investopedia's CAGR Calculator. We used the 2017 market size as the initial value, the 2018 market size as the final value, and "1" as the number of periods.
While the data on the future CAGR was readily available, the information on historical CAGR wasn't included in market reports by research companies such as Mordor Intelligence or Grand View Research, industry reports by major consultancies (such as KPMG or PwC), or in the articles by business, finance and tech media, such as Forbes, The Wall Street Journal or TechCrunch. Those sources also didn't include the information on the pre-2017 global fintech market size, which limited the possibilities of triangulating the figure. The only available historical data that went back to 2016 was the free version of the 2017 Statista's FinTech Report. However, it only provided the total transaction value of different transaction types. Since it wasn't specified if we should provide historical or future CAGR, we decided to provide the pre-compiled future figure and the triangulated annual growth between 2017 and 2018.