The Asia Pacific Smart Finance Technologies Market is expected to witness market growth of 5.0% CAGR during the forecast period (2022-2028).
The severe automation of manual processes (a "zero-ops" mindset) and the replacement or augmentation of human choices by enhanced diagnostics will yield improved operational efficiency for banks. The broad use of classic and cutting-edge AI technologies, including machine learning and facial recognition, to real-time analysis of massive and complex customer data sets, will result in improved operational performance. Future "AI-first" banks will emulate the speed and agility of "digital native" businesses and users. They'll innovate quickly, offering new features in days or weeks rather than months or years. Banks will also work together with non-bank partners to develop new value propositions that span journeys, technological platforms, and data sets.
Banks will also see the opportunity to extend cloud-based microservice architecture in the next years, where application programming interfaces (APIs) enable machine-to-machine communication and allow services to scale independently without having to expand the overall offering's coding base. Microservice-driven architectural transformation in banking will be sparked by the next generation of core banking applications
After the 4th plenary session of the 13th CPC Congress, the financial industry had reached its highest level of development and performance in the previous 13 years. China built a new financial system commensurate with the socialist market economy after more than a decade of effort, in which the financial industry's organizational structure, financial markets, and financial regulatory system have all improved. The financial sector has also been critical in improving macroeconomic control, combating inflation, preventing deflation, supporting economic growth, and ensuring social stability. Financial reform and development have made significant progress in general. China is developing rapidly and the banking sector of the country is adopting smart technologies to improve its efficiency. For instance, China had 87.88 ATMs per 100,000 adults in 2020. Thus, smart finance technologies are expected to be in high demand in the country.
India has 6,636 FinTech startups and is one of the fastest-growing FinTech industries in the world. The Indian FinTech business is expected to be worth $31 billion in 2021 and $150 billion by 2025. Fintech transaction value is expected to expand at a CAGR of 20% from US$66 billion in 2019 to US$138 billion in 2023.
The China market dominated the Asia Pacific Smart Finance Technologies Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $49.1 Million by 2028. The Japan market is experiencing a CAGR of 4.4% during (2022 - 2028). Additionally, The India market is expected to exhibit a CAGR of 5.6% during (2022 - 2028).
Based on Type, the market is segmented into Smart Finance Platforms, Smart Finance Connectivity, Smart Finance Hardware, and Smart Finance Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Fujitsu Limited, Diebold Nixdorf, Inc., IMS Evolve, Miles Technologies, Inc., Zicom SaaS Pvt. Ltd., Zoho Corporation Pvt. ltd., GRGBanking Equipment Co., Ltd., Dialog Axiata PLC, and Virtusa Corporation.
The severe automation of manual processes (a "zero-ops" mindset) and the replacement or augmentation of human choices by enhanced diagnostics will yield improved operational efficiency for banks. The broad use of classic and cutting-edge AI technologies, including machine learning and facial recognition, to real-time analysis of massive and complex customer data sets, will result in improved operational performance. Future "AI-first" banks will emulate the speed and agility of "digital native" businesses and users. They'll innovate quickly, offering new features in days or weeks rather than months or years. Banks will also work together with non-bank partners to develop new value propositions that span journeys, technological platforms, and data sets.
Banks will also see the opportunity to extend cloud-based microservice architecture in the next years, where application programming interfaces (APIs) enable machine-to-machine communication and allow services to scale independently without having to expand the overall offering's coding base. Microservice-driven architectural transformation in banking will be sparked by the next generation of core banking applications
After the 4th plenary session of the 13th CPC Congress, the financial industry had reached its highest level of development and performance in the previous 13 years. China built a new financial system commensurate with the socialist market economy after more than a decade of effort, in which the financial industry's organizational structure, financial markets, and financial regulatory system have all improved. The financial sector has also been critical in improving macroeconomic control, combating inflation, preventing deflation, supporting economic growth, and ensuring social stability. Financial reform and development have made significant progress in general. China is developing rapidly and the banking sector of the country is adopting smart technologies to improve its efficiency. For instance, China had 87.88 ATMs per 100,000 adults in 2020. Thus, smart finance technologies are expected to be in high demand in the country.
India has 6,636 FinTech startups and is one of the fastest-growing FinTech industries in the world. The Indian FinTech business is expected to be worth $31 billion in 2021 and $150 billion by 2025. Fintech transaction value is expected to expand at a CAGR of 20% from US$66 billion in 2019 to US$138 billion in 2023.
The China market dominated the Asia Pacific Smart Finance Technologies Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $49.1 Million by 2028. The Japan market is experiencing a CAGR of 4.4% during (2022 - 2028). Additionally, The India market is expected to exhibit a CAGR of 5.6% during (2022 - 2028).
Based on Type, the market is segmented into Smart Finance Platforms, Smart Finance Connectivity, Smart Finance Hardware, and Smart Finance Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Fujitsu Limited, Diebold Nixdorf, Inc., IMS Evolve, Miles Technologies, Inc., Zicom SaaS Pvt. Ltd., Zoho Corporation Pvt. ltd., GRGBanking Equipment Co., Ltd., Dialog Axiata PLC, and Virtusa Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Smart Finance Platforms
- Smart Finance Connectivity
- Smart Finance Hardware
- Smart Finance Services
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Intel Corporation
- Fujitsu Limited
- Diebold Nixdorf, Inc.
- IMS Evolve
- Miles Technologies, Inc.
- Zicom SaaS Pvt. Ltd.
- Zoho Corporation Pvt. ltd.
- GRGBanking Equipment Co., Ltd.
- Dialog Axiata PLC
- Virtusa Corporation
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Asia Pacific Smart Finance Technologies Market by Type
Chapter 4. Asia Pacific Smart Finance Technologies Market by Country
Chapter 5. Company Profiles
Companies Mentioned
- Intel Corporation
- Fujitsu Limited
- Diebold Nixdorf, Inc.
- IMS Evolve
- Miles Technologies, Inc.
- Zicom SaaS Pvt. Ltd.
- Zoho Corporation Pvt. ltd.
- GRGBanking Equipment Co., Ltd.
- Dialog Axiata PLC
- Virtusa Corporation
Methodology
LOADING...
