US Fintech Market Size
| Study Period: | 2019 - 2028 |
| CAGR: | 11 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Fintech Market Analysis
The United States Fintech Market has achieved a USD 4 trillion market size in 2022 and registered a CAGR of 11% over the forecast period.
Financial technology abbreviated as fintech is the technology and innovation that intends to compete with conventional financial methods in the supply of financial services. AI, Blockchain, Cloud Computing, and Big Data are considered the “ABCD” of Fintech. The Fintech Industry is an evolving industry that uses technology to improve activities in finance.
The US Fintech market research shows that venture capital investment is growing year after year, but investors are becoming more careful as the industry matures. In 2021 there were 8775 fintech start-ups in America. In the United States, the leading fintech segment is digital Payment, valued at over $ 1.2 trillion in 2021. 60% of the credit Unions and 49% of banks in the U.S. believe that fintech partnership is crucial. By 2025, the U.S. will account for more than 62% of the global fintech transaction value.
The United States customer fintech implementation is at 46%. The customer fintech implementation rate for global money transfers and payments is 75%.75% of global consumers have used at least one fintech service to pay online or using a mobile application. 70% of U.S. customers say that mobile banking will represent the future. There were 54 million P2P (peer-to-peer) lending users in 2014 in the United States and it was likely to more than double in 2022 to 126 million.
US Fintech Industry Segmentation
The scope of the report comprises a complete background analysis of the US fintech industry, including a valuation of emerging trends by segments, significant changes in market dynamics, market overview, market size approximation for key segments, and key company profiles also covered in the report. The US fintech market is segmented by service proposition (digital payment (mobile POS payments, digital remittance, and digital commerce), digital investments (NEO brokers and Robo-advisors), alternative lending, and alternative funding.
| By Service Proposition | |||||
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| Alternative Lending | |||||
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| Neo-banking | |||||
| Online Insurance and insurance Marketplaces |
US Fintech Market Trends
This section covers the major market trends shaping the US Fintech Market according to our research experts:
Growth of the E- Commerce Industry is Propelling the Fintech Market
In addition to the development of the e-commerce industry, the fintech market in the United States also advantages from significant growth prospects. Financial technology constantly supports and enhances online payment systems that ensure higher levels of security. Consumers who are more digitally aware and active are becoming more willing to embrace fintech in their everyday lives.
The number of people using online mobile phone payments & digital-only banks has grown dramatically, as per analysis, the overall transaction value in the digital payment market was US$ 940 billion in 2021. Many fintech companies, such as PayPal, Stripe, TransferWise, Venmo, etc., approach digital payment services both to businesses and customers. As more and more Americans depend on e-commerce platforms to acquire daily-use products, especially after the COVID-19 pandemic, the digitization of their daily lives contributes to the growth of the fintech market.
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Digital Payments Segment Boosting Growth of the Market Studied
In 2022, the market's leading segment was digital payments, with a total transaction value of USD 1,801,103 million. The standard transaction value per user in the digital investment segment was projected to amount to USD 48,915 in 2022. The NEO banking segment is likely to show a revenue growth of 36% in 2023. In the digital payments segment, the number of users is estimated to amount to 307 million users by 2026.
US Fintech Industry Overview
The US fintech market is consolidated and is led by various strong players employing innovations and partnership strategies. The report also includes major international players operating in the US fintech market.
While the US fintech landscape and regulations are emerging, the increase in new fintech start-ups and investments in the sector shows no immediate signs of slowing. Many players, including Chime, Stripe, iTrustCapital, and Check, are leading the US fintech market to new heights. The market will likely expand at a high rate throughout the forecast period.
US Fintech Market Leaders
Stripe
Chime
Klarna
iTrustCapital
Robinhood
*Disclaimer: Major Players sorted in no particular order
US Fintech Market News
- In 2022, iTrustCapital established its new corporate headquarters in Irvine with funding of USD 125 million. The news was released two months after the company received a USD 125 million Series A growth equity investment from Left Lane Capital of New York City. The money will be used to enhance the company's offerings, grow the customer support and development teams, investigate possible strategic partnerships, and introduce new marketing avenues.
- In 2022, In a statement, Fireblocks stated that it would spend an estimated $100 million for a cryptocurrency payment network. Plans to allow acquirers and payment service providers (PSPs) to accept cryptocurrency payments and make payouts in digital currencies are blocked by fire. Less than three weeks after the business disclosed it had raised USD 550 million in Series E funding, Fireblocks reportedly made its first purchase.
US Fintech Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Trends Shaping Fintech Market
4.5 Insights on impact of technology and innovation in Operation in Fintech Market
4.6 Insights on Performance of Asset Managers
4.7 Industry Attractiveness - Porters' Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Service Proposition
5.1.1 Digital Payments
5.1.1.1 Mobile POS Payments
5.1.1.2 Digital Remittance
5.1.1.3 Digital Commerce
5.1.2 Digital Investments
5.1.2.1 Neo-brokers
5.1.2.2 Robo-Advisors
5.1.3 Alternative Lending
5.1.4 Alternative Financing
5.1.4.1 Crowd Investing
5.1.4.2 Crowd Funding
5.1.5 Neo-banking
5.1.6 Online Insurance and insurance Marketplaces
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration & Overview
6.2 Company Profiles
6.2.1 Stripe
6.2.2 Klarna
6.2.3 Kraken
6.2.4 Plaid
6.2.5 Robinhood
6.2.6 Brex
6.2.7 Chime
6.2.8 NYDIG
6.2.9 VISA
6.2.10 iTrustCapital*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
US Fintech Market Research FAQs
What is the study period of this market?
The United States Fintech Market is studied from 2019 - 2028.
What is the growth rate of United States Fintech Market?
The United States Fintech Market is growing at a CAGR of 11% over the next 5 years.
Who are the key players in United States Fintech Market?
Stripe, Chime, Klarna, iTrustCapital, Robinhood are the major companies operating in United States Fintech Market.
United States Fintech Industry Report
Statistics for the 2023 United States Fintech market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Fintech analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
United States Fintech Report Snapshots
