BFSI Industry Reports

Rising demand for contactless payments, increased adoption of IOT devices, accelerating economic relief projects and investments in FinTech industry to drive global FinTech market through 2026. According to TechSci Research report,  “ Global FinTech Market By Technology (API; AI; Blockchain; Distributed Computing, Others), By Service (Payment; Fund Transfer; Personal Finance; Loans; Insurance; Others), By Application (Banking; Insurance; Securities & Others), By Region, Competition, Forecast & Opportunities, 2026” , Global FinTech Market was valued USD7301.78 billion in 2020 and is expected to grow at a CAGR of 26.87% during the forecast period on account of increasing popularity of digital payments, the increasing investments in AI, machine learning, blockchain and big data due to its high efficiency to deliver cost-effective services and supporting government initiatives across the globe. Rising internet penetration, adoption of e-commerce platforms across the economies ...

The rise in adoption of digital currencies and growing security in online transactions are expected to drive the demand for the global crypto wallets market in the forecast period, 2023-2027. According to TechSci Research report,  “ Crypto Wallets Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 ” , the global crypto wallets market is anticipated to witness prominent growth in the forecast period, 2023-2027. Crypto wallets or hardware wallets store the user's private key in a secure encrypted hardware device. Crypto wallets store confidential keys and keep the crypto safe and available. A private key is a confidential information that allows the outgoing transactions on the blockchain network. They are also the transactions of cryptocurrencies, including the send, receive, and delivery of Ethereum, Bitcoin, and many more. Factors such as a rise in the significant investments from the key players to proliferate the use of crypto wallets in commerci...

  Ease in affordability of loan approval, growing preference for purchasing a product through a loan, and increasing issues of limited savings are the leading factors driving the global loan market during the forecast period . According to TechSci Research report, “ Loan Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,”  the global Loan market is expected to project robust growth in the forecast period as loans are considered a more convenient and flexible option. Moreover, fast funding time, availability of loan providers, and a defined loan repayment tenure are certain crucial factors influencing the loan market.. Loans are broadly categorized into secured or unsecured loans. Loans that are backed by collateral, such as mortgages and auto loans, are referred to as secured loans. In these situations, the asset used to secure the loan serves as  collateral. For example, the home serves is collateral for a mortgage while a ...

Rise of digital platforms for availing insurance, growing issue of insecurity among users for their respective products, and a variety of insurance category are the leading factors driving the global Insurance market during the projected period. According to TechSci Research report, “ Insurance Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,  The global insurance market is propelled to grow as it helps the individual to mutilate or distribute large risks, provides financial stability, helps in economic growth, and generates long-term wealth. Insurance provides financial security to both people and businesses, against a variety of Losses or damages. Providers assess the risks of insuring someone or something and issue policies to clients, in accordance with their evaluation. The insurance company and the policyholder are parties to a legal contract known as the policy. At less than USD5 trillion in value as of 2020, the global insu...

Increasing homeownership in the United States and the growth of non-bank lenders will fuel the development of the United States home loan market through 2028. According to TechSci Research report, “ United States Home   Loan Market – By Region, Competition , Forecast & Opportunities, 2028F ”,  The United States home loan market is anticipated to project robust growth in the forecast period due to attractive marketing strategies, rise in the number of homeowners, increasing online portals, and increasing support from chatbots. For most customers, owning a home is one of the most important goals, but is also expensive. Giving such a dream life demands a lot of work on the buyer's part, and the only way to fit the home into their budget is by taking a home loan. A home loan can be used to purchase a new home or apartment, the land on which to build it, or even for home renovations, additions, and repairs.  A home loan is a money borrowed by a person from a financial...

Increasing housing cost and rising household construction in China to fuel the growth of the home loan market across the country through 2028 . According to TechSci Research report, “ China Home   Loan Market – By Region, Competition , Forecast & Opportunities, 2028F ”  The China home loan market is anticipated to project robust growth during the forecast period owing to attractive marketing strategies, increasing online portals, low interest rates and increasing support from chatbots. A mortgage, commonly referred to as a home or housing loan, is a sum of money that a person borrows, typically from banks and other lending institutions. Depending on the loan's terms, the borrower must repay the loan balance plus interest over a period of time that can range from 10 to 30 years in easy monthly instalments, or EMIs. There are two different kinds of home loans: secured loans and unsecured loans. Banks and other financial institutions use the home as a guarantee for ...

Improved market capitalization, rising adoption rate for digital currencies among financial institutions, and growing preference for purchasing products such as cars, luxury watches, and several tech products through cryptocurrency, are the leading factors driving the global cryptocurrency market during the projected period . According to TechSci Research report, “ Cryptocurrency Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,”  the global cryptocurrency market is expected to project robust growth in the forecast period owing to the factors such as increasing popularity of digital assets like Bitcoin and Litecoin cryptocurrencies. As they are considered a more convenient and flexible option due to its functioning with the support of Blockchain technology that offers decentralized, fast, transparent, secure, and reliable transactions. A digital payment system that doesn't rely on banks to validate transactions is know...

The increasing availability of travel insurance packages on online platforms and the growing number of business travelers are the leading factors driving the global travel insurance market during the projected period. According to TechSci Research report, “ Travel Insurance Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The travel insurance market has been driven by key elements such as increasing tourism worldwide, rising number of business trips, growing online purchases of travel plans, etc. Another factor, i.e., affordable travel insurance plans, is encouraging consumers to avail such programs. Moreover, the demand for travel insurance is anticipated to surge as the tourism industry develops due to other factors, including extensive media coverage of various vacation types and improved holiday packages. Due to travel insurance's ability to provide total compensation in unforeseen circumstances, spending on trav...