The latest research study by IMARC Group, “Australia Fintech Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on Australia fintech market share. The Australia fintech market is expected to exhibit a CAGR of 30% during 2022-2027.
Australia Fintech Industry Outlook:
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.
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Market Trends:
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 Report Scope | |
| Report Coverage | Details |
| Growth Rate | CAGR of 30% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Deployment Mode, Technology, Application, End User and States |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Deployment Mode:
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
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List of Key Companies Covered in this Market Report:
The major players in the market are Afterpay, Airwallex Pty Ltd, Athena Mortgage Pty Ltd, Divipay Pty Ltd, Judo Bank Pty Ltd (Judo Capital Holdings), mx51 Pty Ltd, PTRN Pty Ltd, Stripe Inc., Wise Australia Pty Ltd and Zeller Australia Pty Ltd.
Note: We are updating our reports, if you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
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About IMARC Group:
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.
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