FinTech Market to Grow at a CAGR of 26.87% During the Forecast Period – TechSci Research

Rising demand for contactless payments, increased adoption of IOT devices, accelerating economic relief projects and investments in FinTech industry to drive global FinTech market through 2026.

According to TechSci Research report, “Global FinTech Market By Technology (API; AI; Blockchain; Distributed Computing, Others), By Service (Payment; Fund Transfer; Personal Finance; Loans; Insurance; Others), By Application (Banking; Insurance; Securities & Others), By Region, Competition, Forecast & Opportunities, 2026”, Global FinTech Market was valued USD7301.78 billion in 2020 and is expected to grow at a CAGR of 26.87% during the forecast period on account of increasing popularity of digital payments, the increasing investments in AI, machine learning, blockchain and big data due to its high efficiency to deliver cost-effective services and supporting government initiatives across the globe.

Rising internet penetration, adoption of e-commerce platforms across the economies coupled with rising smartphone penetration, accelerated partnerships, and increasing funding in start-ups are some of the other factors for the growth of the FinTech market globally. However, the concerns related to data security and lack of skilled consultants to deploy AI in FinTech might hamper the growth of the global FinTech market during the forecast period.

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Global FinTech market can be segmented based on technology, service, application and region. In terms of technology, the market is categorized into API, AI, blockchain, distributed computing and others, including big data, robotic process automation, etc. The API segment held the majority of the market share in the year 2020. The implementation of technologies such as blockchain, artificial intelligence and machine learning is driving the financial services industry to adopt FinTech. The application of big data by FinTech companies is enabling them to identify suspicious behavior, which could be malicious to business operations. Artificial Intelligence is being increasingly integrated into the financial services industry across the globe. AI in FinTech platforms is being implemented for cost optimization of banks and other financial institutions.

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Ant Group Co. Ltd., Paypal Holdings Inc., Tencent Holdings Ltd, Robinhood Markets Inc., Google Payment Corp., One97 Communications Ltd., Adyen NV., Qudian Inc., Afterpay Limited, Nexi SpA, Klarna Bank AB, Social Finance, Inc., Avant, LLC, among others are the leading players operating in Global FinTech Market. Companies operating in the FinTech market are using inorganic growth strategies in order to increase their market share.

“Due to the COVID-19 pandemic, several countries across the globe suffered adverse economic consequences owing to the lockdown to contain the spread of the virus. The COVID-19 pandemic conferred new financial challenges, because of which individuals adopted FinTech apps and services to assist them navigate a broad variety of monetary needs, such as banking, pay analyzers and making payments, among others. Payment wallets witnessed a significant rise in transactions for P2P transfers, bill payments, and P2M payments for essential services as a result of the lockdown implementation and aversion to exchange cash. Payment gateways transactions went up in volumes as payments were created through online platforms. Numerous FinTech companies have developed new products and provided digital solutions to meet the needs of rapidly changing economic conditions. FinTech investments in APAC have witnessed enormous growth in 2020 and the first half of 2021. FinTech firms across APAC are more focused on expanding their portfolio, customer reach and breadth of services.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

According to TechSci Research “Global FinTech Market By Technology (API; AI; Blockchain; Distributed Computing, Others), By Service (Payment; Fund Transfer; Personal Finance; Loans; Insurance; Others), By Application (Banking; Insurance; Securities & Others), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of global FinTech market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global FinTech market.

Global Players Expected to make India Market Entry on account of Strong Political Stability, Competitive Taxation Policies, Easy Availability of Land and Labour, among others

India is one of the most progressive countries across the globe, having enormous potential and a huge market with a population of around 1.38 billion people. India is one of the fastest growing economy in the world, holding the fifth position after leaving behind United Kingdom and France.

[caption id="attachment_146925" align="alignleft" width="346"] Isolated over white territory of India with flag on globe map[/caption]

The country’s GDP was recorded around USD 2.94 trillion in 2019. Looking at the enormous business potential in India the countries FDI is drastically increasing every year and major players are making an entry into the Indian market. However, the sudden outbreak and spread of pandemic COVID-19 has adversely affected the economies globally. The Indian economy is also severely being impacted by the pandemic and lockdown but still holds immense opportunities for growth. With the support of the economic package of 20 lakh crores announced by the government the country has begun its economy 2.0.

Also, government policies & campaigns such as Make in India initiative are further expected to hold immense potential for the country’s economy. The most beneficial thing that came out for the country during the pandemic is that it is somewhat successful in luring companies to shift their manufacturing facilities from China to India. While, China is facing the wrath of the world for spreading the pandemic, India is attracting companies to make India market entry by providing them subsidies and land.

Players around the globe are looking for opportunities to make India market entry on account of the presence of competitive tax policies and strong political stability in the country. There is only one tax Goods and Service Tax (GST) that is applicable across the whole country. Also, the government has slashed the corporate tax to around 25% for existing companies and 15% for new manufacturing setups.

The country also offers supportive tax regime under Make in India policy to the international companies. Furthermore, presence of well established transportation and connectivity facilities lead to a faster flow of goods across the country. Additionally, infrastructural developments by the Indian government such as set up of SEZ, industrial corridors, export parks, among others further drive the attention of players around the globe to make India market entry.

India market entry is not at all easy owing to the varying business practices, income levels, cultural norms, value perceptions from location to location. Before establishing or making India market entry it is essential for the companies to have a long term planning and deep knowledge about the diversified market, competitive landscape, financial & regulatory landscape, marketing practices across different states/cities, consumer behavior, among others.

TechSci Research helps its clients worldwide by providing them with a comprehensive approach and solutions to make India market entry. TechSci Research offers a three phased customized plan to its clients looking for India market entry. This India market entry customized solution includes in-depth evaluation of the market opportunities for the clients, development of strategy & comprehensive business plan and finally on-ground implementation of the strategy. 

India Construction Equipment Market to Reach $4.7 Bn by 2025 - Research

Growing expenditure on infrastructure development and favorable government policies to drive India construction equipment market

According to TechSci Research report, “India Construction Equipment Market By Segment, By Product Type, By Region, Competition, Forecast & Opportunities, 2025”, the country’s construction equipment market is projected to reach $ 4.7 billion by 2025, owing to high demand for construction equipment, especially in the earth moving segment. Over the next five years, construction equipment sales are expected to grow on account of rising demand from commercial projects and mining, housing and agriculture sectors. The competition in India construction equipment market is expected to intensify in the near future owing to continuing collaborations among construction and technology companies coupled with strong and expanding sales network of leading players across the country.

In addition, government is also supporting the construction equipment market by liberalizing taxation policies for construction industry such as GST and custom duty. In 2018, the government of India reduced the GST on construction equipment from 28% to 18%, which will help the construction equipment manufacturers to reduce the overall cost of equipment and other operational losses. Some of the largest ongoing projects in India that are boosting the country’s construction equipment market include Smart City Mission, AMRUT (Atal Mission for Rejuvenation of Urban Transformation), Metro Rail in urban areas, Bharatmala, and Sagarmala, among others. However, the global economic slowdown and spread of COVID-19 pandemic pose a huge imminent challenge for India construction equipment market.

Among all the product types, backhoe loaders and crawler excavators accounted for the largest individual shares in India construction equipment market in 2019, and the trend is expected to prevail during the forecast period. North is the dominating region in the country’s construction equipment market where a huge number of large-scale projects are being undertaken, followed by South, West and East regions. “Various upcoming infrastructure projects coupled with rising government expenditure towards construction sector in the country is expected to boost construction equipment market during the forecast period. Moreover, favorable government policies and surging foreign investments in construction equipment market are anticipated to fuel the market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Construction Equipment Market By Segment, By Product Type, By Region, Competition, Forecast & Opportunities, 2025” has analyzed the potential of construction equipment market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

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India Health Insurance Market to Witness Robust CAGR until 2025 - Research

Growing awareness regarding advantages offered by health insurance companies and increasing disposable income to drive the growth of India health insurance market

According to TechSci Research report, “India Health Insurance Market By Type of Insurance Provider (Public, Private, Others), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Others), By Type of Coverage (Individual, Family), By Term of Coverage (Term, Lifetime), By Cash Limit (Up to 2 Lakh, 2.1-3 Lakh, Others), By Mode of Purchase (Online Portal, Insurance Agent, Others), By End User (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025”, India health insurance market is expected to register robust growth during forecast period.

Surging working population, increasing disposable income and rising awareness towards policies offered by health insurance companies are the major factors driving the Indian health insurance market. Additionally, the mandatory provision of providing health insurance for both private and public sector employees is further anticipated to fuel the growth of health insurance market in India through 2025.

Moreover, Government of India had launched National Health Protection Scheme under ‘Ayushman Bharat’ which provides coverage of up to USD7,723 to more than 100 million vulnerable families. This gave a boost to the health insurance sector in the country. This has further driven insurance penetration in the country and proliferation of insurance schemes, thereby positively impacting the market growth.

Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on " India Health Insurance Market" - https://www.techsciresearch.com/report/india-health-insurance-market/4658.html

India health insurance market is segmented based on type of insurance provider, insurance type, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end user and region. Based on type of insurance provider, the market is segmented into public, private and standalone health insurers. In 2019, private insurance providers accounted for the largest share in India health insurance market.

Private insurance providers offer quick referral to a consultant, provide advanced treatment options and have quick and flexible treatment time for users in private hospitals. Based on insurance type, the market is segmented into disease, medical and income protection.

In 2019, medical insurance type dominated the health insurance market in India owing to increasing cases of road accidents in the country. Medical insurance covers almost all the incurred expenses while admitting a patient to a hospital in the event of any medical agency. It may include cost of medical admission, diagnostic tests including MRI & CT scan, hospital accommodation, nursing care, surgery and cost of seeing consultant or a doctor.

Major players operating in the India health insurance market include Life Insurance Corp of India, Apollo Munich Health Insurance Company Limited, Max Life Insurance Company Limited, HDFC Standard Life Insurance Co. Ltd., Aditya Birla SunLife Insurance Co. Ltd., SBI Life Insurance Co. Ltd. , ICICI Prudential Life Insurance Co. Ltd., TATA-AIG General Insurance Company Limited, United India Insurance Company Limited, National Insurance Company Limited, Bajaj Allianz General Insurance Religare , Health Insurance Company Limited, Bharti Axa General Insurance Company Ltd., Star Health and Allied Insurance Co Ltd, Iffco Tokio General Insurance Ltd, Manipal Cigna Health Insurance Limited and others. Various insurance providing companies are focusing on developing a strong base in e-commerce market as users prefer to understand, compare, and apply for the health coverage & buy insurance packages online.

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“The private health insurance sector in India is anticipated to witness higher growth rate due to increasing preference of population towards private insurance policies as they tend to provide customized coverage to the individual based on his budget or cover needed. However, future looks promising for all types of healthcare insurance providers as more and more Indians are taking interest towards securing themselves and their loved ones against all odds by buying insurances ranging from health to life.

Additionally, rise in middle-class population, young insurable population and growing awareness regarding the need for insurance protection cover are anticipated to propel the health insurance market in India until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Health Insurance Market By Type of Insurance Provider (Public, Private, Others), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Others), By Type of Coverage (Individual, Family), By Term of Coverage (Term, Lifetime), By Cash Limit (Up to 2 Lakh, 2.1-3 Lakh, Others), By Mode of Purchase (Online Portal, Insurance Agent, Others), By End User (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025”has evaluated the future growth potential of India health insurance market and provides statistics & information on market size, structure and future market growth.

The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India health insurance market.

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Feminine Hygiene Products Market to Witness Steady Growth till 2024

Growing awareness about hygiene among females to drive global feminine hygiene products market through 2024 – TechSci Research

According to TechSci Research report, “Global Feminine Hygiene Products Market By Product Type, By Distribution Channel, By Region, By Company, Competition, Forecast & Opportunities, 2024”, global feminine hygiene products market is projected to grow at a steady pace during 2019-2024, on the back of increasing awareness towards female health and hygiene, and emergence of low cost feminine hygiene products. Moreover, inclination of women towards the utilization of convenient and handy sanitary products is further creating a huge demand for feminine hygiene products across the globe. Moreover, manufacturers are focusing on introducing innovative and organic products which are comfortable, scented and have higher absorption capability. They are also developing unique marketing and promotional strategies which is attracting a larger consumer base, thereby further fueling growth in the market.

In terms of distribution channel, the feminine hygiene products market is categorized into supermarket/hypermarket, online, pharmacies/drugs stores and others. Among these distribution channels, the online channel is expected to witness healthy growth during forecast period. The growth of the market is majorly attributable to the growing popularity of e-commerce market. Moreover, e-commerce and technology are transforming this category with new user experiences, where luxury brands and small start-ups alike are racing to embrace e-commerce, making this channel even stronger.

In terms of region, the global feminine hygiene products market is categorized into North America, Asia-Pacific, Europe, Middle East & Asia and Latin America. North America is one of the major demand generators of feminine hygiene products on account of higher penetration of sanitary products in the region. Moreover, personal hygiene awareness campaigns taken up by government agencies is resulting in increasing demand for sanitary products in this region, which is further driving the growth of North America feminine hygiene products market.

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“Global feminine hygiene products market is anticipated to register a steady growth during forecast period. The growth of the market is led by increasing disposable income, growing awareness about sanitization, and rising demand for products such as tampons, and panty liners in developed countries. Moreover, increasing number of programs to enhance public awareness pertaining to proper health and hygiene of females is further steering the growth of global feminine hygiene products market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Feminine Hygiene Products Market By Product Type, By Distribution Channel, By Region, By Company, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of global Feminine Hygiene Products market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global feminine hygiene products market.