Highlights
Market definition
in-scope / out-of-scope
Reports special
  • The market's largest segment is Digital Payments with a total transaction value of US$7,145m in 2018.
  • Total Transaction Value is expected to show an annual growth rate (CAGR 2018-2022) of 12.4% resulting in the total amount of US$11,413m by 2022.
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FinTech is short for ‘Financial Technology’, the central concept of structural change and digitization within the financial services industry. Under the collective name FinTech (which still lacks a clear definition even within the industry), financial services are understood within the framework of the Digital Market Outlook; digital infrastructures allowing the establishment of new types of agreements and procedures in the classic areas of banking such as lending, investment strategies and payments.

The characteristics of the digitization process of financial services include: simplified access for end users via the Internet or mobile Apps, an increase in the processing speed of automated processes, reduction in costs, a stronger focus on customer service, more convenience, higher transparency and the exploitation of network effects.

The FinTech market is characterized by a rapidly growing number of startups and businesses without bank licenses (non-banks). For an overview of the total potential of the FinTech market, a split between classic banks and non-banks is not sensible, because consolidation processes, co-operations and white label solutions mean that there will be no clear differentiation in the future. Therefore, a functions-oriented segmentation is preferred, based on an access- or business model-based split of the market. FinTech start-ups tend to focus on selected parts of the financial value chain and try to unbundle traditional bank business models.

All monetary information in the FinTech section of the Digital Market Outlook refers to the potential transaction volumes of the respective segments and not corporate revenue.

The following are not included in the current market definition: agency commissions via metasearch engines, for example, in the credit and insurance sector, business-to-business payments, API management, agencies and external credit scoring, crypto currencies (including Bitcoin) and complementary services such as online identification or account management.
in-scope
  • Digital Payments, incl. Mobile POS Payments & Digital Commerce
  • Online Crowdfunding (equity- and reward- based)
  • Robo-advisors and automated wealth management services
  • Marketplace lending (peer-to-peer platforms) for businesses & personal loans
out-of-scope
  • Metasearch engines / lead-generation business models
  • InsureTech or insurance related services
  • Business-to-business payments
  • Credit scoring and API management
  • Crypto-currencies and blockchain technology
FinTech Report 2018

FinTech Report 2018

Statista Digital Market Outlook - Market Report
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Transaction Value Transaction Value Growth

in the FinTech market in million US$ in percent

Reading Support Total Transaction Value in the Digital Payments segment amounts to US$7,145m in 2018. Reading Support The FinTech market is expected to show a transaction value growth of 15.0% in 2019.

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  • Transaction Value
  • Transaction Value Growth
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Transaction Value:

The "Transaction Value" box shows the forecasted value of transactions in the selected market (market segment, region) for each year. The figures do not refer to the actual revenue that is generated by the processing companies.


Transaction Value Growth:

The "Transaction Value Growth" box shows the year-over-year development of the transaction value in the selected market (market segment, region) in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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User

in the FinTech market in millions

Reading Support In the Digital Payments segment, the number of users is expected to amount to 38.43m by 2022.

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User:

The “User” box shows the number of active paying customers (or accounts) of the selected market (market segment, region) in millions for each year.

A definition and detailed explanation of the displayed markets can be found here.
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av. Transaction Value per User

in the FinTech market in US$

Reading Support The average transaction value per user in the Digital Payments segment amounts to US$220 in 2018.

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Average Transaction Value per User:

The box shows the average annual transaction value per user (or potential user) of the selected market (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the demographic, economic and technological development of the selected region on the basis of general KPIs. The calculation of Statista’s Market Outlook is based on a complex market-driver logic including over 400 region-specific data sets.

2016201720182019202020212022 CAGR
(2016-2022)
Internet penetration in %
Percentage of individuals in the selected region using the internet | Source: Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
GDP (current) in US$
Gross domestic product (in current prices, constant exchange rate) of the selected region per capita | Source: IMF
x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx
Households in m
Total number of households in the selected region. | Source: Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Newly registered companies
Number of newly established and registered companies (within the past 12 months) in the selected region. | Source: OECD, Eurostat, Statista
xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx
Population in m
Number of individuals (all ages) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
0-14 years in m
Number of individuals (age 0-14) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
15-24 years in m
Number of individuals (age 15-24) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
25-34 years in m
Number of individuals (age 25-34) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
x.x xx.x xx.x xx.x xx.x xx.x xx.x
35-44 years in m
Number of individuals (age 35-44) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
x.x x.x x.x x.x x.x x.x x.x
45-54 years in m
Number of individuals (age 45-54) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
x.x x.x x.x x.x x.x x.x x.x
55+ years in m
Number of individuals (age 55 and older) living in the selected region, the data reflect the United Nation's medium variant of World Population Prospects | Source: UN
x.x x.x x.x x.x x.x x.x x.x
Consumer spending (current) in US$
Average consumer spending per capita of private households in the selected region (in current prices, constant exchange rate) | Source: Statista
x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx
Foodstuffs, beverages in US$
Consumer spending per capita for food and non-alcoholic beverages (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. The markets for Alcoholic, Non-Alcoholic and Hot Drinks in turn not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés) that are valued at wholesale prices. | Source: Statista
xxx xxx xxx xxx xxx x,xxx x,xxx
Alcohol, tobacco in US$
Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. The market for Alcoholic, Non-Alcoholic and Hot Drinks not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés) that are valued at wholesale prices. | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Clothing, footwear in US$
Consumer spending per capita for clothing and footwear (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Included are both consumption of goods as well as services (cleaning and cobblers). | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Housing in US$
Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Household in US$
Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Health in US$
Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Transport in US$
Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). This group inlcudes the purchase of vehicles, maintenenace of vehicles as well as transportation services. | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Communication in US$
Consumer spending per capita for communication (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xx xx xxx xxx xxx xxx xxx
Recreation, culture in US$
Consumer spending per capita for recreation and culture (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Education in US$
Consumer spending per capita for education (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Restaurants, hotels in US$
Consumer spending per capita for restaurants and hotels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista
xx xx xxx xxx xxx xxx xxx
Other in US$
Consumer spending per capita for miscellaneous goods and services (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. | Source: Statista
xxx xxx xxx xxx xxx xxx xxx
Telecommunication
Click arrow to expand
Average connection speed in kbits/s
Average internet connection speed in Kbits/s. | Source: Akamai, Statista
x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx x,xxx
Broadband subscriptions per 100 capita
Number of-fixed broadband subscriptions per 100 inhabitants. | Source: World Bank, Statista
x.x x.x x.x x.x x.x x.x x.x
Smartphone penetration in %
Percentage of individuals from the total population using a smartphone on a monthly basis | Source: Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Hardware market
Click arrow to expand
Per-capita volume mobile phones in units
Average per capita sales of mobile phones in units | Source: Statista
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Per-capita volume laptops in units
Average per capita sales of laptops and tablets in units | Source: Statista
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Per-capita volume desktop PCs in units
Average per capita sales of Desktop-PCs in units. | Source: Statista
x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx
Per-capita revenue mobile phones in US$
Average revenue of mobile phones per capita | Source: Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Per-capita revenue laptops in US$
Average revenue of laptops and tablets per capita. | Source: Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Per-capita revenue desktop PCs in US$
Average revenue of Desktop-PCs per capita. | Source: Statista
x.x x.x x.x x.x x.x x.x x.x
Finance
Click arrow to expand
Online banking penetration in %
Percentage of individuals (total population over 16 years) using online-banking services at least once a year (e.g. bank transfers, account information). | Source: Eurostat, Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Debit card penetration in %
Percentage of individuals (total population over 16 years) who own at least one debit card. | Source: World Bank, Statista
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Source: Statista, November 2018
Source: Statista, November 2018, based on IMF, World Bank, UN and Eurostat