The latest research study “Australia Fintech Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the Australia fintech market size reached US$ 2.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2028, exhibiting a growth rate (CAGR) of 28.3% during 2023-2028.
Fintech, also referred to as financial technology, represents specialized software and technological solutions that improve or automate financial services and processes. They can be categorized into application programming interface (API), blockchain, data analytics, artificial intelligence (AI), robotic process automation (RPA), etc. Fintech services utilize these customized technologies and algorithms to aid business owners and companies manage their finances from their smartphones or computer and ensure efficient business process automation. Consequently, they find extensive applications in banking, insurance, and securities segment in Australia.
Download free sample brochure: https://www.imarcgroup.com/australia-fintech-market/requestsample
Australia Fintech Market Trends and Drivers:
The emerging trend of digitization in the banking, financial services, and insurance (BFSI) sector and the increasing need for advanced solutions to enhance operational efficiency, process large volumes of data within a short duration, and reduce the chances of human error are primarily driving the Australia fintech market.
Besides this, the introduction of numerous innovative financial solutions, including mobile wallets, buy now pay later, digitized money, paperless lending, etc., is further augmenting the market across the country. Moreover, the launch of various policies and initiatives by the government bodies, such as Blockchain Pilot Grants aimed at reducing business compliance costs and offering tax offsets to fintech start-ups, is acting as another significant growth-inducing factor.
Additionally, the escalating integration of machine learning (ML) to monitor borrower spending behavior and credit decision models for identifying risk patterns is expected to propel the Australia fintech market in the coming years.
Australia Fintech Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Australia Fintech Companies:
Divipay Pty Ltd, Judo Bank Pty Ltd (Judo Capital Holdings), mx51 Pty Ltd, PTRN Pty Ltd, Stripe Inc., Afterpay, Airwallex Pty Ltd, Athena Mortgage Pty Ltd, Wise Australia Pty Ltd and Zeller Australia Pty Ltd.
The report has segmented the market on the basis of deployment mode, technology, application, end-user and region.
Breakup by Deployment Mode:
- Cloud
- On-Premises
Breakup by Technology:
- Application Programming Interface (API)
- Artificial Intelligence (AI)
- Blockchain
- Data Analytics
- Robotic Process Automation (RPA)
- Others
Breakup by Application:
- Payments and Fund Transfer
- Loans
- Insurance and Personal Finance
- Wealth Management
- Others
Breakup by End-User:
- Banking
- Insurance
- Securities
- Others
Breakup by States:
- New South Wales
- Victoria
- Queensland
- Western Australia
- South Australia
- Tasmania
- Others
Ask Analyst for Customization and Explore Full Report with TOC List of Figure: https://www.imarcgroup.com/request?type=reportid=6065flag=C
If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
134 N 4th St.
Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
