5G in Fintech Market Forecasts from 2024 to 2029: Digital Banking and Fintech Investments Stimulating Growth

Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) — The “5G in Fintech Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.

The 5G in fintech market is anticipated to expand at a CAGR of 44.53% to attain US$122.470 billion by 2029, from US$19.418 billion in 2024.

Data plays a critical role in fintech, or the financial technology industry, generating huge amounts of data every passing movement. The reliable connectivity and higher connectivity speed of the 5G technology enable the fintech industry in real-time data collection, analysis, and transfer.

The application of 5G in fintech also enables multiple companies and organizations to implement various new technologies, like artificial intelligence (AI) and data analytics, for efficient and faster data collection and analysis. Using 5G in the fintech sector also helps in improving and optimizing user experience, as it reduces waiting time and enhances faster services for users.

The increasing global risk of cybersecurity and data breaches is forecasted to be a major restraint to the global 5G in the fintech market. The world has witnessed an increasing number of breaches and cyberattacks, forcing data-driven industries, like the fintech sector, to invest large amounts in securing their data.

5G In Fintech Market Drivers:

Bolstering growth in digital banking and fintech investments is stimulating market expansion.

The high speed and receptivity capability of the 5G technology is estimated to improve the overall database checking and its high potential to accelerate the network coverage. The 5G technology also has high industrial applicability, and its usage in the fintech sector is not different. This technology provides high-performance benefits such as streamlining lending, securing transaction channels, enhancing fraud detection, reducing latency, and offering AI and VR for customer offerings.

The rapid evolution of the fintech sector globally will bolster contactless transactions, account opening, and mortgages, driving the demand for high-speed network connectivity. This can provide a real-time user experience, making 5G technology an ideal option for the industry. Similarly, rapid urbanization has also fastened the transition towards a modern and digital banking approach, enhancing the scale of online and mobile banking transitions globally.

5G in Fintech Market Geographical Outlook

Asia Pacific is forecasted to hold a major share of the 5G In Fintech Market.

The Asian Pacific region is estimated to attain a greater share in the global 5G fintech market. One of the major driving factors pushing the growth of the regional 5G in the fintech sector can be the continuous expansion of 5G technology and increasing development in the fintech sectors. Various countries in the region, like India, Japan, China, and Singapore, have a large and developed financial sector worldwide, with many countries in the region also adopting and developing new fintech solutions to expand their financial landscape. Technologies like the UPI (Unified Payments Interface), developed by India, have witnessed massive growth and are further expected to attain higher demand with the adoption of 5G technology nationwide.

Key Attributes:

Report Coverage:

• Historical data & forecasts from 2022 to 2029
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries

Company Profiling: Strategies, Products, Financial Information, and Key Developments

• Mitsubishi Electric Corporation
• Keysight Technologies
• National Instruments
• Ericsson AB
• Huawei Technologies Co. Ltd
• Qualcomm Technologies Co. Ltd
• ZTE Corporation
• Nokia
• NEC Corporation
• Broadcom
• Athonet

The 5G In Fintech Market is segmented and analyzed as follows:

By Application

• Branch
  • Banker-Facing
  • Customer-Facing
• ATM
• Others

By Component

By Geography

• Americas
• Europe, Middle East, and Africa
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Others

For more information about this report visit https://www.researchandmarkets.com/r/jyol4f

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