DIGITAL & TREND

Fintech: Market Data Analysis &

Forecast
Market Insights report

MAY 2023
Up-to-date figures and in-depth analyses of the Fintech market

FinTech, a combination of financial services and technology, has been rapidly evolving over the last decade and has, to some
extent, completely reinvented the financial services landscape and the way people spend, invest, and lend money. With more
than 40% of the global adult population using the internet to pay bills or buy something online, FinTech is not longer an
emerging market; it can now be classified as an established industry with huge potential yet to be unlocked.

In this report, we provide a comprehensive overview of the state of the FinTech market as it is today, as well as forecasts. This
includes detailed information on five different markets in the areas of Digital Payments, Digital Investments, Digital Capital
Raising, Digital Assets, and Neobanking. Apart from all relevant market figures, such as total and average transaction values,
revenue, AUM, and user numbers from 2017 to 2027, detailed insights into current trends, key players, and important
background information on the FinTech market are also provided.

Furthermore, we examine selected key market drivers as well as new company profiles and deep dive into topics. Apart from
our known focus regions, the U.S., China, and Europe, we now also provide detailed figures on the top five countries of the
respective markets in order to provide further insights into the market.

Sources: Statista Market Insights 2023

 Table of Contents

Overview Appendix
Overview Summary 6 Product Overview 114
Estimated Market Development 8 Author 120
COVID-19 & Russia-Ukraine war impact 13
Key Player Landscape 14
Trend Analysis 16
Key Market Indicators 18

Markets
Digital Payments 28
Digital Investment 46
Digital Capital Raising 63
Digital Assets 78
Neobanking 97

3
 STATISTA MARKET INSIGHTS

This report is part of

our Market Insights product
Gain a better understanding of markets across 190+ geographical entities – on
a global, regional, country, and/or state level. Access our data via web
interface, download (XLS, PDF, PPT), or reports. Benefit from our 48-hour
customer service guarantee.

• 10 sectors: advertising & media, consumers, countries, digital sector,

finance, health, industrial sector, mobility, and technology
• 1,000+ markets, e.g., FinTech, Food, or Robotics
• KPIs, e.g., revenue, market shares, prices, and volume
• Features: Compare countries & regions, change currencies, select
visualizations, and/or customize downloads
• Use cases: sales planning, investment decision support, resource
allocation, and portfolio management

10 190+ 1,000+ 400+

Find out more on: sectors geographical markets reports
Go to Market Insights https://www.statista.com/outlook/
entities

4
CHAPTER 1

Overview
 Fintech is divided into 5 markets and 11 submarkets
Overview: Markets

Digital Payments Digital Investment Digital Capital Raising Digital Assets Neobanking

Digital Commerce Neobrokers Crowdinvesting Cryptocurrencies

Mobile POS(1) Payment Robo-Advisors Crowdlending (Business) NFTs(2)

Digital Remittances Crowdfunding DeFi(3)

Marketplace Lending
(Consumers)

6 Notes: (1) POS: Point Od Sale (2) NFTs: Non-Fungible Tokens (3) DeFi: Decentralized Finance

Sources: Statista Market Insights 2023

 In 2022, China held the largest share of Fintech market in the world across all
areas
Overview: Summary and Key Takeaways

Summary Key Takeaways

The rising number of internet and smartphone users as well as the aftermath of the Digital Payments
financial crises of the early 21st century have led to the digitization of many
Digital Payments had a global transaction value of US$8.48 trillion in 2022 and
financial products. FinTech, a combination of financial services and technology, is
makes up the largest share within the FinTech market.
an industry that has been rapidly evolving over the last decade. We have identified
four major areas in which innovative digital products and services challenge Digital Investment
established players in the financial services field. It is customer focus, digital This market had a global market size of US$2.82 trillion in 2022, with a projected
touchpoints, higher levels of security and convenience that make up the core growth rate of about 12.6% % from 2022 to 2027.
elements of the growing FinTech movement.
Digital Capital Raising
The U.S. currently holds the biggest FinTech market in the world. This is due to its
leadership position in the areas of Digital Investment, Digital Assets and Digital This market had a global market size of US$65 billion in 2022, with a projected
Capital Raising, reaching an AUM of US$1.09 trillion, a revenue of US$19.3 billion, growth rate of about 3.04% % from 2022 to 2027.
and a transaction value of US$34.2 billion in 2022. Digital Assets
With its established presence in the Digital Payments sector, China is the world’s This market had a global market size of US$24.6 billion in 2022, with a projected
second largest FinTech player, reaching transaction value of US$3.49 trillion in growth rate of about 33.08% from 2022 to 2027.
2022. With its transaction value accounting to US$1.46 trillion in 2022, Europe has
Neobanking
established itself as the market leader in the Neobanking market.
This market shows a trend of gradual growth, projected at 11% from 2022 to 2027.

7 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The global FinTech market includes a diverse landscape, that include their
respective key performance indicators
Estimated Market Development: Transaction values (1/5)

Global Fintech market forecast in billion US$

15,168.0
13,754.7
12,267.7
10,919.0
9,682.5
8,975.5
8,487.9 8,111.3
7,105.6
5,941.0
4,629.2
3,255.1

65.0 67.0 69.7 71.8 73.6 75.5

2022 2023 2024 2025 2026 2027

Digital Payments Neobanking Digital Capital Raising

8 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The global FinTech market includes a diverse landscape, that include their
respective key performance indicators
Estimated Market Development: Assets under Management (2/5)

Global Fintech market forecast in billion US$

5,128.3
4,744.0
4,315.4
3,784.8

3,126.4
2,827.2

2022 2023 2024 2025 2026 2027

9 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The global FinTech market includes a diverse landscape, that include their
respective key performance indicators
Estimated Market Development: Revenue (3/5)

Global Fintech market forecast in billion US$

191.7
176.7
159.8
138.8

112.8
102.7
97.1 96.6
88.7
75.4
56.4

24.6

2022 2023 2024 2025 2026 2027

Digital Assets Digital Investment

10 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 FinTech’s most widely adopted market is Digital Payments
Estimated Market Development: User numbers (4/5)

Global Fintech user forecast in million

5,480.3
5,211.3
4,947.5
4,690.1
4,439.8
4,160.5

926.7 967.0 994.3

837.6
673.9
429.9 300.7 304.3 336.9 315.0 361.9 321.7 376.9
270.5 187.7 256.7 249.8 286.0

2022 2023 2024 2025 2026 2027

Digital Payments Digital Investments Digital Assets Neobanking

11

Sources: Statista Market Insights 2023

 The Digital Capital Raising market is projected to experience slow growth in
campaign numbers in the coming years
Estimated Market Development: User numbers (5/5)

Global Fintech campaigns forecast in million

50.9 51.6 52.0 52.2 52.2

49.3

2022 2023 2024 2025 2026 2027

12

Sources: Statista Market Insights 2023

 The Digital Investment market has witnessed turbulent growth patterns and is
expected to plummet in 2023 due to the ban on robo-advisory services in China
COVID-19 & Russia-Ukraine war impact: Digital Health Forecast

Global Digital Investment AUM change forecast The development of the Digital Investment market has been turbulent, with
86% several socioeconomic factors influencing its future.

The Digital Investment market witnessed a decline in AUM in 2020: The fear of

Robo-advisory services ban in China(3)

74% uncertainty led many users to save their disposable income rather than invest it.
Additionally, several companies laid off employees due to the contact restrictions
Russia-Ukraine War(2)
imposed by several governments. These actions triggered concerns for a looming
recession – thereby reenforcing the need to save up on all the disposable income.
53%
58%
The Digital Investment market witnessed a dip in its AUM development: Due to the
COVID-19(1)

current Russia-Ukraine war, supply chains have been heavily disrupted, which is
resulting in a growth of energy and food costs. Therefore, consumers have been
inclined to redistribute their spending towards essentials goods and services. As a
26% result of the Russia-Ukraine war, Digital Investment market AUM is estimated to
21%
shrink substantially in the respective regions and have an impact on the rest of the
14% world. Finally, the robo-advisory services ban in China in 2022 is expected to have a
11% 10% 8% significant impact on the market development in the coming years.

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

13 Notes: (1) The COVID-19 pandemic fueled significant growth in the Digital Health market in 2020 (2) R-U war: Russia-Ukraine war is significantly influencing consumer spending, that will result in a downturn in transaction value
change for 2022
Sources: Statista Market Insights 2023
 The Fintech market is evolving into a highly competitive landscape
Key Player Landscape

Selected key players in Fintech

Digital Payments Digital Investment Digital Capital Raising Digital Assets Neobanking

14

Sources: Statista Market Insights 2023

 Technology enabler or disruptor? Where FinTech adds value to the financial
system
Core competencies of FinTech and banks

FINTECH BANKS

Scale
Revolutionary approach ▪ Access to capital
▪ Customer-centric products ▪ Distribution
▪ Digital touchpoints ▪ Trusted intermediary
▪ Direct peer-to-peer business models
Financial
Industry Infrastructure
▪ Technology
Technology ▪ Existing connectivity
▪ Cutting-edge technology – e.g. AI(1) ▪ Data access
▪ Lean “as-a-service” approach
▪ Seamless integration
▪ E2E(2) digital processes and Expertise
communication ▪ Market structure
▪ Regulation and compliance

15 Notes: (1) AI = Artificial Intelligence ; (2) E2E = end-to-end

Sources: Statista Market Insights 2023

 Blockchain and machine learning are game-changing technologies when it
comes to financial services
Trend Analysis (1/2)

Blockchain is the most frequently used buzzword within FinTech sector. Blockchain is a distributed ledger technology that
autonomously records peer-to-peer transactions across decentralized computers without a central authority. Information is
written in blocks that are visible to everyone. The blockchain grows with the number of transactions and information stored in
it. Blockchain participants, also called “miners,” provide computing power to append new blocks, which is part of an incentive
for their work. This makes fraudulent activities almost impossible, because of the immense number of equivalent replications.
The most popular application today are cryptocurrencies, e.g., Ethereum and Bitcoin. A blockchain can be characterized as a
value-exchange protocol and has applications not only in the finance sector, but also to establish better transparency in
reselling and transferring intellectual property or digital goods.

Machine Learning is pertinent to many different areas of the FinTech industry. One such example is an automated
investment service known as a robo-advisor, where a self-learning algorithm simulates market outcomes and decides which
asset class is best suited to the individual needs of an investor. It incorporates huge amounts of real-time data and goes
beyond human capabilities. There are, however, many other areas in the financial industry where machine learning can
enhance business-related decision-making. Some examples include credit scoring, personal finance management, fraud
detection, as well as marketing and customer relationship management for banks and other financial institutions. Machine
learning can increase the accuracy and speed of decision-making and offers huge potential when applied to predictive analysis
to reduce risks and fraud.

16

Sources: Statista Market Insights 2023

 P2P platforms and alternative credit scoring remove traditional borrowers from
the credit chain
Trend Analysis (2/2)

Alternative credit scoring is the process of using publicly sourced personal consumer information to obtain reliable risk
profiles of loan seekers or potential customers of online stores. Companies specialized in alternative credit scoring collect
public personal data from social networks and accessible online profiles and run it through scoring algorithms based on
personal preferences, location, and/or other similar personal information. Enriched with transaction-related data from
previous purchases, outstanding loans, income, credit card or bank account information, these data sets allow alternative risk
profiling in addition to renowned credit rating services such as U.S.-based FICO. These services offer new potential, especially
for consumers and loan seekers from the “underbanked“ parts of the population, giving them access to P2P lending and other
services that require a financial risk profile.

Peer-to-peer (P2P) platforms bring together strangers and make it possible to create digital fundraising events for new
products, distribute equity shares in small businesses, as well as source loans directly from private investors. P2P payments
are very convenient for end-users, especially when functionality is integrated with other applications such as social media or
messaging apps. Access, processing speed, and money transfer costs through digital channels are notably superior to
traditional bank transfers. The challenge for platform providers is to ensure reliability and confidence in transactions. Fast,
reliable scoring algorithms and fraud detection processes are therefore key to building a trustworthy brand and unlocking a
new market potential that cannot be addressed by traditional banks.

17

Sources: Statista Market Insights 2023

 Adequate digital infrastructure is essential for developing digital markets
Key market indicators: digital infrastructure overview

Internet Users Connection Speed

64.1% of the global population uses the internet on a monthly 23.57 Mbits/s is the global average internet connection
basis. Increasing internet penetration rates build the base for speed. More features, such as high-quality videos and 3D
using Fintech. simulation, become available as connection speeds improve.

Broadband Subscriptions Smartphone Penetration

90.9 mobile subscriptions per 100 capita was the global 63.6% of the global population use smartphones on a monthly
number for mobile broadband subscriptions in 2022 and is a basis. Apart from smartphones, smart devices (e.g.,
crucial indicator for establishing digital services. smartwatches) are enabled with digital connectivity.

18

Sources: Statista Market Insights 2023

 While internet penetration is especially high in some European countries and in
the U.S., it is lower in China
Key market indicators: internet penetration

Internet penetration in 2022

93% 92% 91% 89%

85%
Ø 84
75% Europe
72%

Ø 67%
Global

UK USA Spain Germany France Italy China

19

Sources: Statista Market Insights 2023

 From a global perspective, mobile broadband subscriptions and connection
speeds are steadily increasing
Key market indicators: mobile broadband subscriptions and average connection speed

Global mobile broadband subscriptions and average connection speed​

100.4 102.6
98.0
95.3
92.3
88.6
84.8
80.4
71.8 74.2
64.5

48.1
43.8
39.5
35.3
31.3
27.4
23.7
20.3
17.2
11.9 14.4

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Avg connection speed Mobile broadband subscription per 100 capita

20

Sources: Statista Market Insights 2023

 Over 72% of the China’s population owns a smartphone
Key market indicators: smartphone penetration

Smartphone penetration in 2022

93% 92% 91% 89%

83%
Ø 82%
73% 72% Europe

Ø 66%
Global

UK U.S. Spain Germany France Italy China

21

Sources: Statista Market Insights 2023

 The rising adoption of Fintech is also influenced by various socioeconomic
factors
Key market indicators: socioeconomic overview

Population Consumer spending

In 2022, records showed a global population of 7,542 million In 2022, average consumer spending per capita of private
people (all ages). The number of people living in a country is a households was US$6,753. Knowing the expenditure per
key indicator for the market size. capita provides necessary insights into price developments
and the average willingness to pay.

Demographics Internet banking penetration

The share of older people in the global population is increasing, 25% of the global population have an online bank account. The
and the growing number of females is resulting in a shifting gradual shift in consumer behavior from offline to online
ratio between males and females. banking areas is an ongoing occurance. Asian countries have
shown higher adoption rates when it comes to online banking
services.

22

Sources: Statista Market Insights 2023

 Accounting for more than 19% of the total global population, China has by far
the largest population
Key market indicators: population (1/2)

Population in million in 2022

1,456

335

84 68 66 60 47

China United States Germany United Kingdom France Italy Spain

23

Sources: Statista Market Insights 2023

 Although more boys than girls are born, the ratio of men to women changes
over time since women live longer
Key market indicators: population (2/2)

Share of age groups by gender of the total population in 2022

0.0% 100+ 0.0%
0.0% 95-99 0.0%
0.1% 90-94 0.1%
0.2% 85-89 0.3%
0.4% 80-84 0.6%
0.7% 75-79 0.9%
1.1% 70-74 1.3%
1.7% 65-69 1.8%
2.0% 60-64 2.1%
2.5% 55-59 2.5%
2.9% 50-54 2.9%
3.1% 45-49 3.1%
3.2% 40-44 3.1%
3.5% 35-39 3.4%
4.0% 30-34 3.8%
3.9% 25-29 3.7%
4.0% 20-24 3.7%
4.1% 15-19 3.8%
4.3% 10-14 4.0%
4.4% 5-9 4.1%
4.5% 0-4 4.2%

Male Female

24

Sources: Statista Market Insights 2023

 Per head, consumption expenditure in the U.S. is about ten times higher than in
China
Key market indicators: consumer spending

Consumer spending per capita in US$ in 2022

50,166

27,777
24,745
23,197
21,473
18,739

Ø 16,616
Europe

4,944 Ø 8,422
Global

United States United Kingdom Germany France Italy Spain China

25

Sources: Statista Market Insights 2023

 In terms of online banking adoption, China is in the lead when compared to
several European countries
Key market indicators: Online Banking Penetration

Online Banking Penetration in 2022

78%

63% 64%
57%
53% 54%

36% Ø 41%
Europe

Ø 25%
Global

United Kingdom United States France Spain Germany Italy China

26

Sources: Statista Market Insights 2023

CHAPTER 2

Markets
MARKETS

Digital Payments
 Digital Payments is an important part of the FinTech Market
Overview: Market Definition

Market definition
In scope Out of scope
The Digital Payments market is led by consumer transactions. This includes
payments for products and services that are made via the internet as well as This segment includes: This segment excludes:
mobile payments at point of sale (POS) via smartphone applications and cross- • Online processed payment • mPOS solutions for card payments or
border money transfers made over the internet (digital remittances). Transaction transactions mobile card readers
value equals money transfers out of the selected region.
• Mobile POS payments • Business to business payments
processed via smart
devices at point of sale • Electronic banking

• Digital consumer • Provision fees from payment providers

commerce transactions
(e.g., credit card, online • Payments via social networks
payment providers)
• Domestic payments and bill splitting
• Online cross-border services
payments and remittance
sending • Cross-border payments via traditional
service providers

29

Sources: Statista Market Insights 2023

 Market focus on Digital Payments
Overview: Market Scope

Digital Commerce Mobile POS Payments Digital Remittances

• Cross-border payments between individuals,

• All consumer transactions made via the internet • Transactions at the point of sale (POS) that are excluding payments for purchased goods and
directly related to online shopping for products and processed via smartphone applications (so-called domestic via peer-to-peer transactions.
services. "mobile wallets"). Payments made by a
• Online-only players, such as Wise, adopt digital
• Online transactions can be made via various contactless interaction of the smartphone app.
infrastructures to optimize time and cost.
payment methods, including credit cards, direct • The data transfer can be made via wireless
debit, invoice, or online payment providers (e.g., standard Near Field Communication (NFC) or by • Remittances services are used on a regular basis,
PayPal and AliPay). scanning a QR code to initiate the payment. particularly by the immigrant population.

30

Sources: Statista Market Insights 2023

 China is a global leader in Digital Payments
Overview: Customer Benefit and Market Development

Customer benefit Market size and future development

The way in which payments or the transfer of money for goods and services have The global transaction value in the Digital Payments market came to US$8.48
been constantly evolving, making a smooth transition from offline to online trillion in 2022. The highest transaction value came from Digital Commerce.
medium of exchange, is expected further about to change. This can be attributed to
By global comparison, with US$3.49 trillion, China had the top transaction value in
the emerging digital services. With the rising adoption of smartphones and online
2022. The U.S. comes in second, having generated a transaction value of US$1.76
(and mobile) shopping, the FinTech revolution is already in full swing, particularly in
trillion. Europe recorded the smallest transaction value (US$1.55 billion). Within
the area of Digital Payments. Digitization has brought along a disruptive change in
Europe, the highest transaction values were generated by the United Kingdom and
checkout processes (online purchases), payments at the POS (offline purchases),
Germany, totaling US$392.3 billion and US$232.5 billion, respectively.
and online peer-to-peer international money transfer.
With a CAGR(1) of 15.1%, Europe is forecast to have the strongest annual growth
Given the high internet coverage, the adoption of digital payment services in
rate between 2022 and 2027 and is expected to generate a market volume of
developed countries is mainly a question of convenience and of added value to the
US$3.12 trillion by 2027.
existing infrastructure. Key drivers are the simplicity of use, especially for people
that are not tech-savvy, the broad or ubiquitous acceptance, the reasonable The U.S. is projected to have an average annual growth rate of 14.9% (2022–2027)
transaction speed, the low-cost, high security standards, and the COVID-19 and a total market volume of US$3.52 trillion by 2027.
pandemic. However, the importance of each criteria might differ between the China is expected to see a CAGR(1) of 8.3% (2022–2027) and a total market volume
payment categories and the cultural mindset in different regions, which also plays of US$5.19 trillion by 2027.
an important role in the adoption.

31 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 A seamless integration of payment processes is relevant for all digital commerce
activities
Overview: Assumptions and Trends

Assumptions Trends

FinTech start-ups are constantly evolving and setting new standards for the global There are three major trends affecting the payment industry with sustainable long-
financial market. Based on lean and agile product development, often focused on term impacts: seamless commerce, mobile payments, and blockchain technology.
mobile user experiences, FinTech typically offers a more innovative product
Seamless integration of payment processes has relevance in every context, be it
portfolio than traditional banks. Given that most traditional bank branches have
online shopping, in-store purchases, or peer-to-peer payments. Usability is the key
failed to prioritize consumers’ shift towards digital technologies (especially when it
to high conversion rates and consumer adoption.
comes to financial products), there is still a broad spectrum of products and
services primarily covered by traditional banks with low mobile convenience or at High security standards throughout the payment process is most likely to be
high costs for consumers. ensured by biometrical methods, such as fingerprint authentication. Another
important factor is the growing impact of mobile devices not only for POS shopping
Large players, such as PayPal, Apple and Amazon, are investing significant amounts
but also for mobile checkout processes in the eCommerce world, as well as the
into digital payments and transfer solutions. The ongoing development from
integration of P2P payments into messengers and social networks.
separate online shops towards integrated online shopping ecosystems, in particular
the merger of shopping and social media / messaging, opens new business models Online remittance services provide consumers convenience and affordability
and opportunities for digital payment methods. One example of an evolving enabled by the adoption of technology into their main infrastructure, which helps
FinTech trend is the replacement of cost-intensive offline services with a more cost- optimize cost and improve efficiency.
effective digital service. Wise, a UK-based company, has focused on cross-border
funds transfer, where they offer transparent services without a physical branch.

32 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The Digital Payments market transaction value is estimated to increase at a
CAGR(1) of 16.3% from 2017 to 2027
Market size: global

Transaction value forecast in billion US$

15,168.0
13,754.7 177.7
12,267.7 169.8
+16.3% 10,919.0 161.8 5,750.8
9,682.5 150.7 5,142.7
8,487.9 136.8 4,525.5
7,520.9 120.2 3,939.2
115.5 3,393.7
5,990.8 2,879.8
94.1 2,528.8
4,758.3
4,128.1 82.6 1,954.9 9,239.5
3,361.8 1,174.1 8,442.3
767.4 69.7 6,829.0 7,580.4
329.2 56.0 5,487.8 6,152.0
4,876.6
3,291.0 3,501.6 3,941.8
2,976.7

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Digital Commerce Mobile POS Payments Digital Remittances

33 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 With a CAGR(1) of 15.1%, Europe shows the biggest growth when it comes to
transaction value within the Digital Payments market
Market size: regional comparison (1/2)

Transaction value forecast in billion US$

+8.3%(1) 5,199.2
16.9 +14.9%(1)
+14.6%(1) +15.1%(1)
3,496.6 2,536.6 3,528.1
8.2 32.8 3,311.6 3,129.1
62.9 65.1
1,553.9 1,283.7 886.6
1,043.9
1,765.0 1,674.3
25.5 1,552.1
42.9 43.6
2,645.7 542.0 378.7 405.3
2,211.6 2,362.1 2,020.1
1,934.5
1,197.5 1,252.7 1,103.2

2022 2027 2022 2027 2022 2027 2022 2027

China U.S. ROW(2) Europe

Digital Commerce Mobile POS Payments Digital Remittances

34 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 With a transaction value of US$392 billion, the UK held the biggest market
among selected countries in 2022
Market size: regional comparison (2/2)

Transaction value forecast in billion US$

+15.6% (1)

810.9
4.5
+12.4% (1)
303.3 +15.4%(1)
417.9 +13.7% (1)
392.3 10.6 355.3 +17.4%(1)
3.1 71.4 5.8
115.9 232.5 253.0
130.5
503.1 25.6 7.4 173.7 4.1
133.4 1.5 43.6 2.2 153.7 0.7
336.0 0.4
273.4 199.5 44.7 219.1 68.8
207.2 25.1 55.5
125.0 109.8 22.1 43.3 97.5
2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
United Kingdom Germany France India Brazil

Digital Commerce Mobile POS Payments Digital Remittances

35 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Out of the three major regions/countries examined, consumers in the U.S.
spend the most via mobile POS(1) payments
Average transaction value per User: Regional Comparison (1/2)

Average transaction value per user forecast in US$

1,492 4,491 2,099 2,089

2022 3,499 2022 8,909 2022 3,912 2022 3,299

26,090 11,800 11,006 9,586

China U.S ROW (2) Europe

1,865 6,973 2,979 3,396

2027 4,368 2027 13,558 2027 5,713 2027 6,138

34,012 10,810 11,436 10,008

Digital Comemrce Mobile POS payments Digital Remittances

36 Notes: (1) POS: Point of Sale, (2) ROW : Rest of the World

Sources: Statista Market Insights 2023

 Out of the three major regions/countries examined, consumers in the U.S.
spend the most via mobile POS(1) payments
Average transaction value per User: Regional Comparison (2/2)

Average transaction value per user forecast in US$

4,603 2,491 350

2022 8,514 2022 5,008 2022 937
4,829 12,577 9,623

7,823 4,215 669

UK France Brazil
2027 15,531 2027 8,912 2027 1,508
5,090 12,769 10,506

2,968 148
2022 1,820 2022 74
10,009 7,521

Germany 4,877 India 192

2027 3,340 2027 107
10,242 7,385

Digital Commerce Mobile POS payment Digital Remittance

37 Notes: (1) User Penetration Rate is the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

Sources: Statista Market Insights 2023

 The number of digital payment users in Europe are expected to reach 601
million by 2027
User numbers: regional comparison (1/2)

Number of users forecast in millions

+6% (1) 3,208.6

18.6

2,324.1
12.8
+5% (1)
1,360.2 3,190.0
1,041.8 0.5
2,311.3 +2% (1)
0.3
+4% (1) 601.3
1,359.7 532.7
1,041.5 320.2 4.5 6.5
268.8
2.2 3.0 528.2 594.8
266.7 317.2
2022 2027 2022 2027 2021 2027 2022 2027
China U.S. ROW (2) Europe

Digital Commerce & Mobile POS Payment Digital Remittance

38 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the world

Sources: Statista Market Insights 2023

 India is expected to have the strongest demand in the Mobile POS Payment
market by 2027
Market size: regional comparison (2/2)

Number of users forecast in millions

+8% (1)

1,082.3
0.3

739.5
0.2

1,082.0 +3% (1)

+2% (1) 0.6% (1) +1% (1) 739.3
123.8 145.9
60.0 65.2 68.0 69.9 50.5 52.4 0.1
0.6 0.9 0.7 1.0 0.0
59.4 64.3 67.2 68.9 0.3 0.5 123.8 145.8
50.2 52.0
2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
United Kingdom Germany France India Brazil

Digital Commerce & Mobile POS payment Digital Remittance

39 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Norway had the highest user penetration rate(1) in the Digital Payments market
in 2022
Penetration Rates: Global Comparison

Digital Payments user penetration rate in 2022

low high no data

40 Notes: (1) User Penetration Rate is the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

Sources: Statista Market Insights 2023

 Alipay is the largest digital payment processor in the world, with user numbers
being particularly high in China
Company Profiles: Alipay (1/2)

Alipay Key Facts Product: One-stop Payment Solution

Revenue(1): RMB 51.9 billion (2019) CAGR(2): 20.3% (2017 to 2019) Alipay originated as a payment solution for Alibaba’s Taobao consumer
eCommerce platform in 2004. Since then, it has developed into a comprehensive
TPV(3): RMB 118 trillion (2019) Users: 1.3 billion (2020)
mobile and digital payment service provider. Apart from local in-store payments,
Founded: 2004 Headquarters: Shanghai, China users can also use the app to send peer-to-peer payments, pay credit card bills, and
for food ordering and ride-hailing services. The app functions as a mobile wallet,
with QR codes extensively being used to simplify the user experience.
Alipay user interface
Alipay’s Digital Strategy

Alipay’s parent company, Ant Group, offers a diverse portfolio of financial services,
many of which are incorporated into the Alipay app. While Alipay’s features are not
as broad as those of competitor Tencent’s WeChat, the app can still be labelled as a
“super app,” which captures customer interest beyond simple payment processing.
Users do not need to leave the app to access a variety of services, which would
otherwise distribute demand among a variety of apps. Despite the success of this
approach in China, super apps, and Alipay in particular, are increasingly becoming
the subject of regulatory scrutiny.

41 Notes: (1) Revenue is for “Digital Payments and merchant services” branch of Ant Group, (2) CAGR: Compound Annual Growth Rate, (3) TPV: Total Payment Volume

Sources: Company information

 Alipay’s user base has shown significant growth over the last few years, reaching
1.3 billion in 2020
Company Profiles: Alipay (2/2)

Number of annual active Alipay users in millions

1,300

30%(1)
900

720

520
451

2016 2017 2018 2019 2020

42 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Company information

 Wise has started offering electronic money accounts to frequent travelers
Startup Analysis: Wise

Overview Analysis

Wise is a London-based financial service provider. Its remittance services were Is the product unique?
launched in 2011 to provide a fairer alternative to international bank transfers
Wise’s remittance and international money transfer services are not unique.
offered by established banks who charged exorbitant fees. Wise holds local
However, the company is well established and has near-universal geographic
currency accounts in all supported countries. When a customer wants to transfer
coverage.
money in their currency to that of another country, Wise collects the funds and
sends the corresponding amount to the recipient from the local currency account What are its advantages, and can it handle possible constraints?
operated by Wise, avoiding fees for individual, low-value transfers. Beyond Compared to traditional banks and many competitors, the fee structure is very
international bank transfers, Wise also offers electronic money accounts and debit competitive while also maintaining high transparency. There are no hidden fees,
cards, which can be used to pay in the local currency when travelling abroad, as and the actual exchange rate at the time of the transfer or conversion is used. The
well as convert and hold over 50 currencies from all over the world. wide geographical coverage is also a big advantage compared to smaller
competitors. Nevertheless, international transfers can take a few days, and Wise
has discontinued transfers in edge cases, e.g., to the Ukraine.

Wise has been hugely successful by offering a significant price advantage

compared to other players. Other remittance and international payment
providers are following suit, thereby intensifying competitive conditions.

43

Sources: Company information

 Walmart-backed PhonePe and Google Pay control over 80% of peer-to-peer and
person-to-merchant mobile transactions in India
Deep dive: Digital Payments

Unified Payment Interface (UPI) UPI apps transaction value market share in 2021 UPI apps transaction value market share in 2022(1)

The Unified Payment Interface (UPI) is a real-time

inter-bank payment system facilitating peer-to-peer
Others Others
(P2P) and person-to-merchant (P2M) transactions. By
using one of many UPI-enabled mobile apps, users can 7% 7%
instantly transfer funds between bank accounts. It was
9% 10%
developed by the National Payments Corporation of
India (NPCI).

Market Share control regulations

46%
In late 2020, the NPCI announced that it would enforce 48%

a 30% market share cap on third-party UPI apps. This

was done to allow for more competition and prevent
the concentration of market power by a few select 38% 34%
providers, as the market is already an oligopoly.
PhonePe stands to lose the most, while smaller apps,
particularly Paytm, could gain new customers. The
market share restrictions is to be enforced in 2025.

44 Notes: (1) For the months January to November 2022

Sources: National Payments Corporation of India

 Paytm is on its way to becoming a super app
Deep dive: Digital Payments

Overview Integrative approach: services offered by Paytm

Paytm is a FinTech company based in Noida, India. It offers mobile payment Paytm (short for Pay through mobile) was started as an app for topping up prepaid
services via its app of the same name. Not unlike other mobile payment apps, such phones and direct-to-home (DHT) TV contracts. However, since its early days, new
as Alipay, merchants can use QR codes to simplify the payment process. The features have been added, most notably a mobile wallet system called Paytm
Unified Payment Interface (UPI) allows for the safe and instantaneous transfer of Wallet, which is accepted as mode of payment for Indian Railways and Uber.
funds on a peer-to-peer or person-to-merchant basis. Paytm went public in 2021 at
Today, Paytm offers a variety of payment services. Users can not only pay for
a valuation of US$19 billion, which was the largest IPO in India at the time.
prepaid smart phones and DHT connections, but also pay credit card, broadband,
In 2020, the app was used by over 20 million merchants and had a user base of and utility bills. Payment services for transportation have been extended to Metro
over 330 million users. While it is the third-largest mobile payment app in India and tolls as well. Plane and bus tickets can also be purchased from inside the app.
behind Google Pay and PhonePe, Paytm offers a much wider range of services. Furthermore, financial services are directly integrated into the app, meaning that
users can bank, apply for loans, credit cards, and insurance as well as invest in
stocks and commodities. Paytm even offers buy now pay later (BNPL) services and
cashback programs. Paytm clearly has ambitions to grow beyond being a simple
payment service provider. By integrating a host of leisure and financial services,
Paytm follows suit after similar apps in China have become immensely successful.
These so-called “super apps” act as mobile platforms for all commercial activity.
This clearly distinguishes Paytm from its dominant competitors.

45

Sources: Company Information; FinanzWesir

MARKETS

Digital Investment
 Digital Investment is an important market in the Fintech market
Overview: Market Definition

Market definition
In scope Out of scope
A digital investment refers to the use of digital platforms and technology to
facilitate the buying and selling of financial assets, e.g., stocks and bonds. This This segment includes: This segment excludes:
includes online brokerages, robo-advisors, and mobile trading apps. The Digital • Neobrokers (online trading • Non-digital financial advisory
Investment market also includes the use of artificial intelligence and machine platforms) services
learning algorithms to assist with investment decisions and portfolio management
• Robo-advisors (automated • Personal finance management
wealth management services) services (PFM) and budgeting
manager

47

Sources: Statista Market Insights 2023

 Market focus on Digital Investment
Overview: Market Scope

Robo-Advisor Neobroker

• They are asset management providers who offer automated online portfolios in • Neobrokers are financial entities that solely operate in the digital space. They
which private investors can choose investment volumes depending on their typically position themselves as online brokers, trading platforms, social trading
scope and appetite for risk. platforms, or retail investment platforms.

• The advantage lies in the passive role of the investor, who may not want or • Neobrokers provide massive trading opportunities for small retail investors
cannot afford ongoing personal monitoring of their portfolio development. enabled by the introduction of fractional shares.

• Notable robo-advisors: Betterment, Wealthfront, and Scalable Capital • Notable neobrokers: Bitpanda, Degiro, Trade Republic, SoFi, eToro, Public.com,
Robinhood, and Stash.

48

Sources: Statista Market Insights 2023

 The United States is a global leader in the Digital Investment market
Overview: Customer Benefit and Market Development

Customer benefits Market size and future development

Technological improvements in investment services in particular affect the retail Global AUM (1) in the Digital Investment market came to US$2.82 trillion in 2022. The
investors that are actively involved in trading, long-term investing, and/or use robo- highest AUM (1) came from Robo-Advisors.
advisory for growing their wealth.
By global comparison, amounting to US$1.09 trillion, the U.S. had the most AUM (1)
For investors, robo-advisors are a cost-efficient way to invest money as they follow managed in 2022. Europe comes in second, having AUM (1) managed of US$664.7
their preferences in terms of balancing chances and risks. Customers have the billion. China recorded the smallest AUM (1) managed ($US449.3 billion). Within
possibility to invest in stocks, bonds, and other categories without actively Europe, the leading countries with the highest AUM(1) managed were Germany and
managing their portfolio. The algorithms can be adjusted to the investor‘s risk the U.K, with US$122.5 billion and US$105.3 billion, respectively.
preferences and will allocate the assets based on data-driven, automated decisions
With a CAGR(2) of 16.2%, the U.S. is forecast to have the strongest annual growth
in order to maximize returns for the investor. When used correctly, automated
rate between 2022 and 2027 and is expected to generate a market volume of
portfolio management reduces the risk of miscounselling and provides better
US$2.31 trillion by 2027.
chances on higher investment returns than traditional portfolio management.
Europe is projected to have an average annual growth rate of 15.5% (2022–2027)
Neobrokers gained popularity as they offer lower fees, convenient means to
and a total market volume of US$1.36 trillion by 2027.
manage investments, and track portfolio performance online or via a mobile app.
Additionally, they also offer a wide range of investment options including stocks, China is expected to see a CAGR(2) of -27.5% (2022–2027) and a total market volume
bonds, mutual funds, and exchange-traded funds (ETFs). A few neobrokers also of US$89.7 billion by 2027. This could be attributed to the country’s regulatory
offer educational resources to help you learn about investing. restrictions imposed for robo-advisory in 2022.

49 Notes: (1) AUM: Assets under Management (2) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Key success factors for FinTech in the digital investment space are speed,
efficiency, and low fees
Overview: Assumptions and Trends

Assumptions Trends

FinTech is penetrating areas of the consumer finance business that are currently One key trend in the digital investment sector is the increasing use of robo-
controlled by banks. These are two possible scenarios when it comes to the way in advisors, which are digital platforms that use algorithms to create and manage
which FinTechs could transform the future of financial services. investment portfolios on behalf of users. They offer a convenient and low-cost way
for retail investors to invest and have become increasingly popular in recent years.
Scenario one: Banks will adapt to technological innovations or partner with
FinTechs. Almost all banks are intensively screening the FinTech landscape, many of Another trend is the increasing interest in passive investing, which involves tracking
them have own incubators or are actively investing in start-ups to benefit from the a market index rather than trying to outperform it through stock picking or market
technological advantage and the fast and agile product development process. timing. Passive investment options, such as index funds and exchange-traded
funds (ETFs), have become more popular due to their low fees and strong long-
Scenario two: Banks will ignore alternative FinTech forms. This might be the case if
term performance.
FinTechs struggle to scale and gain more relevance. Many start-ups are focusing on
niche areas, which do not endanger the core business of banks. This could result in In addition, the rise of mobile investing has made it easier for people to manage
a peaceful coexistence, with FinTechs occupying different niche markets. their investments on the go. Many digital investment platforms now offer mobile
apps that allow users to buy and sell securities, track portfolio performance, and
Based on the current market landscape, the first scenario is likely the forge a path
access research and analysis tools. There has also been a trend towards the use of
forward for the financial industry. This will likely instigate the adoption of digital
AI(1) and machine learning to analyze market data and make investment
investment services by small retail investors, whereas high net worth individuals
recommendations. Finally, social investing is gaining popularity, with investors
will likely leverage traditional investment firms or banks to manage their portfolios.
networking and sharing information and ideas about specific investments.

50 Notes: (1) Artificial Intelligence

Sources: Statista Market Insights 2023

 The AUM(1) of the Digital Investments market is estimated to increase at a
CAGR(2) of 33.4% from 2017 to 2027
Market size: global

AUM (1) forecast in billion US$

5,128.3
4,744.0
599.9
4,315.4 568.6
3,784.8 535.0
+33.4%
498.0
3,126.4
2,827.2
455.3
2,245.1 409.8
4,528.4
395.5 4,175.4
3,780.4
1,419.0 3,286.9
927.5 315.0 2,417.4 2,671.1
534.0 240.1 1,849.6
287.3 165.0 1,104.1
101.1 687.4
186.2 369.0

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Robo-Advisor Neobroker

51 Notes: (1) AUM: Assets under Management (2) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Due to regulatory restrictions imposed on robo-advisory services, China’s growth
in digital investment AUM(1) is set to plummet from 2022 onwards
Market size: regional comparison (1/2)

AUM (1) forecast in billion US$

+16.2%(1)

2,319.7
303.4 +15.5%(1) +16.9%(1)

1,363.5 1,355.3
1,092.7 136.4 86.8
219.6 2,016.3 664.7 -27.5%(1)
620.6
98.4 1,227.2 56.1 1,268.5 449.3
873.1 35.8 89.7
566.3 564.5 413.5
16.5 73.3
2022 2027 2022 2027 2022 2027
Europe ROW(2) 2022 China 2027

Robo-Advisor Neobroker

52 Notes: (1) AUM: Assets under Management (2) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 With an AUM (2) of US$122.5 billion, Germany held the biggest market among
selected countries in 2022
Market size: regional comparison (2/2)

AUM (2) forecast in billion US$

+20.0%(1)
+12.5%(1)
262.5 +17.5%(1)
+15.4%(1)
221.2 25.9 +17.5%(1)
24.5 181.5 179.7
17.7 3.5 153.1
122.5 9.7
105.3
18.9 236.6 88.5 80.3
196.7 18.1 68.4
12.1 163.7 2.3 176.2
6.8 143.4
103.6 87.2 76.4 78.0 61.5

2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
Germany United Kingdom Japan Russia Canada

Robo-Advisors Neobrokers

53 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year ; (2) AUM: Assets under Management

Sources: Statista Market Insights 2023

 Out of the three major regions/countries examined, consumers in the U.S.
invested the most via robo-advisory services
Average AUM (1) per User: Regional Comparison (1/2)

Average AUM (1) per user forecast in US$

69,174 12,931 7,513 7,552

2022 2022 2022 2022

13,002 7,342 2,365 2,958

U.S Europe ROW China

116,149 19,890 10,403 0

2027 2027 2027 2027

15,852 8,490 2,427 4,461

Robo-Advisor Neobroker

54 Notes: (1) AUM: Assets under Management

Sources: Statista Market Insights 2023

 Among selected countries, users in Canada were seen to invest the most via
robo-advisors in 2022
Average transaction value per User: Regional Comparison (2/2)

Average AUM (1) per user forecast in US$

17,329 14,369 20,394

2022 2022 2022
8,287 5,540 6,662

Germany 27,074 Japan 21,601 Canada 30,722

2027 2027 2027
9,440 7,580 8,597

15,518 7,168
2022 2022
8,803 2,819

UK 27,127 Russia 10,366

2027 2027
10,972 2,727

Robo-Advisor Neobroker

55 Notes: (1) AUM: Assets under Management

Sources: Statista Market Insights 2023

 The number of digital investment users in Europe are expected to reach 77.8
million by 2027
User numbers: Regional Comparison (1/2)

Number of users forecast in millions

+8% (1)
158.8

35.8

+6% (1) 99.4

+7% (1) 77.8 -24% (1)
68.2 23.7
65.9
57.2 16.1
47.6 19.1 123.0 12.1
13.4
16.9 75.7
61.7 53.8 16.4
49.0 43.8
30.7
16.4
0.0
2022 2027 2022 2027 2021 2027
U.S. Europe ROW (2) 2022 China 2027

Robo-Advisor Neobrokers

56 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the world

Sources: Statista Market Insights 2023

 Russia is expected to have the strongest demand in the Digital Investment
market by 2027
Market size: Regional Comparison (2/2)

Number of users forecast in millions

+9% (1)

+8% (1) +6% (1) 18.3

3.6% (1)
11.7 1.3 +7% (1)
11.1 9.9
9.9
8.3 7.7 2.4 7.5 0.8
2.6 2.3 17.0 5.8
2.3 2.1 2.2 4.0
7.3 8.7 7.6 10.9 1.1
6.0 5.6 5.3 1.0 4.7
3.0
2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
Germany UK Japan Russia Canada

Robo-Advisor Neobroker

57 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The U.S. had the highest user penetration rate(1) in the Digital Investment market
in 2022
Penetration Rates: Global Comparison

Digital Investments user penetration rate in 2022

low high no data

58 Notes: (1) User Penetration Rate is the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

Sources: Statista Market Insights 2023

 Robinhood, the first neobroker, popularized app-based commission-free trading
Company profiles: Robinhood (1/2)

Robinhood Key Facts Product: commission-free investment app

Revenue: US$1.4 billion (2021) CAGR(1): 186.5% (2019 to 2021) Robinhood popularized the model of app-based stock brokerages, which are now
commonly referred to as “neobrokers.” Users can trade stocks, ETFs, and
Net loss: US$3.7 billion (2021) Users: 14 million (2022)
cryptocurrencies via their smartphone without paying commissions on their trades.
Founded: 2013 Headquarters: Menlo Park, California Users can also trade on margin, essentially borrowing money for the purchase of
stocks.

Robinhood App Robinhood’s digital strategy

Prior to the Robinhood app, stock traders were predominantly using laptops and
PCs to trade. Robinhood was at the forefront of the transfer of this activity to
smartphones, which allowed for mobility and quickly gained steam. Now, most
brokers offer similar apps. Robinhood has not shied away from embracing new
digital asset classes, such as cryptocurrencies, and implementing features that
allow customers to trade and store such assets in their mobile wallets earlier than
many competitors. To make commission-free trading possible, Robinhood is
employing a business model called “payment for order flow” (PFOF), in which
market makers reimburse Robinhood for orders routed through them. However,
this practice has come under fire as a potential conflict of interest.

59 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Company Information

 Robinhood struggles under bad publicity and a bearish market
Company profiles: Robinhood (2/2)

Quarterly revenue of Robinhood in millions

11%(1)
565
522

365 363
318 318
299
270
244

128

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022

60 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Company information

 Scalable capital gains traction among the European retail investors in the
financial services sector
Startup Analysis: Scalable Capital

Overview Analysis

Scalable Capital, a Munich-based company, is the leading robo-advisor in Europe, Is the product unique?
with over €10 billion in Assets Under Management (AUM) and more than 600,000
Most robo-advisors are currently based in the U.S., meaning that there is little
customers. It offers automatic portfolio optimization based on an individual’s risk
competition in continental Europe for these services, although the broker services
aversity and investment strategy. Minimum investment was previously €20,000 but
are not unique, as various competitors offer similar plans.
has since been lowered to €1,000. After the successes of another German-based
neobroker, Scalable Capital has also started to offer commission-free trading plans, What are its advantages, and can it handle possible constraints?
either at a flat rate monthly subscription or as a free model where each order Scalable Capital has quickly built a considerable customer base by engaging with
incurs a €0.99 order fee. key strategic partners, such as ING, one of Europe’s leading direct banks. ING
customers received more amicable conditions, leading to over 80,000 customers
using Scalable Capital’s robo-advisory services. While its approach has been more
robust than that of crypto-first FinTechs, e.g., Nuri, Scalable Capital’s sub-par
performance in the early months of the COVID-19 pandemic was due to inaccurate.

Robo-advisory is an attractive alternative to traditional broker services. This is

even the case in Europe, where many investors are rather risk-averse, as
evidenced by the customer base acquired by Scalable Capital. However, Scalable
Capital has left some investors disappointed with its recent performance

61

Sources: Company Information; FinanzWesir

 In the U.S., giant wealth managers have snapped up most of the client money as
innovative start-ups attempt to gain a foothold in the robo-advisory market
Deep dive: Digital Investment

Comparison of popular robo-advisors by assets under management in USD billion 2021

62

Sources: Forbes; Company Information

MARKETS

Digital Capital Raising

 Digital Capital Raising is an important part of the FinTech Market
Overview: Market Definition

Market definition
In scope Out of scope
The Digital Caiptal Raising market segment relates to digital financial
services for business customers, private borrowers and business This segment includes: This segment excludes:
customers. Included are Crowdinvesting models, which focus particularly • • Alternative financing for SMEs and freelancers • Traditional bank loans
on start-ups exchanging investment for company shares (equity-based),
and Crowdfunding solutions, which are used for non-monetary • Equity-based Crowdfunding (or Crowdinvesting) • Traditional venture capital
compensation, for example product launches, music, art & film-financing investments by institutional
• Reward-based Crowdfunding (or Crowdfunding) or private investors
(reward-based). The market also includes bank-independent loan
allocation for SMEs (Crowdlending) and for personal loans (Marketplace • Alternative lending for SMEs and freelancers
Lending or so-called Peer-to-Peer lending) through private or institutional (bank-independent loans)
investors via online platforms. In view of processing complexity, this
• Online marketplaces for personal loan
market is focused on small and medium-sized enterprises (SMEs), applications and private investors
freelancers and private persons. Bank financing is not considered,
neither are any financial aspects that reach beyond the scope of small • Peer-to-Peer loans with interest rates depending
on internal credit scoring of the platform
and medium-sized enterprises or donation-based Crowdfunding models.
provider
Bank financing is not considered, neither are any financial aspects that
reach beyond the scope of small and medium enterprises or donation-
based Crowdfunding models.

64

Sources: Statista Market Insights 2023

 Market focus: Digital Capital Raising
Overview: Market Scope

Crowdfunding Crowdinvesting Marketplace Lending Crowdlending

Crowdfunding (also: reward-based

crowdfunding) is a form of financing
Crowdinvesting (also: equity-based Marketplace lending platforms offer Crowdlending platforms (also: lending-
that is independent from financial
crowdfunding) defines a variety of private users the option to place based crowdfunding) enable small and
institutions and location of the
transactions where an unspecified requests for loans in an online medium-sized enterprises to get loans
campaign creator or investor.
number of parties come together to marketplace to find private investors from private and institutional investors
Crowdfunding campaigns can be
invest in equity shares or profit-related who would invest at an appropriate via an online brokering platform.
initiated for a wide range of different
returns (e.g., royalties or convertible interest rate.
purposes, e.g., product launches, art-,
loans).
music-, and film-financing, software
development, and scientific research.

65

Sources: Statista Market Insights 2023

 The United States is a global leader in the Digital Capital Raising market
Overview: Customer Benefit and Market Development

Customer benefits Market size and future development

Key benefits for personal and business borrowers alike are time savings, flexibility, The global transaction value in the Digital Capital Raising market came to US$65
and less bureaucracy. P2P marketplace lending enables private persons seeking a billion in 2022. The highest transaction value came from Marketplace Lending.
personal or consumer loan to apply for an online loan listing within a very short
By global comparison, totaling US$34.2 billion, the U.S. had the highest transaction
time frame. Crowdlending, the other market covered in this report, is an alternative
volume generated in 2022. China comes in second, with a transaction value of
way of financing small and medium-sized businesses (SMEs). The baseline
US$16.8 billion. The smallest transaction value was recorded in Europe (US$8.7
mechanisms and processes are similar to P2P marketplace lending, except that
billion). Within Europe, the highest transaction value was the United Kingdom and
loans are classified as business loans, rather than personal or consumer loans.
Germany, with transaction values of US$4.2 billion and US$0.9 billion, respectively.
The financing of SMEs is often a pain point for founders and business executives.
At a CAGR(1) of 15.1%, Europe has the strongest annual growth rate between 202
Crowdfunding – probably the most common term in this context – refers to a
and 2027 and is expected to generate a market volume of US$3.12 trillion by 2027.
reward-based financing model. This means that businesses present their ideas or
prototypes on online platforms, such as Kickstarter, in form of campaigns. The U.S. is projected to have an average annual growth rate of 14.9% (2022–2027)
Crowdinvesting is similar, but it offers a small equity stake of the company in form and a total market volume of US$3.52 trillion by 2027.
of securities instead of a tangible reward. Investors speculate on the successful China is expected to see a CAGR(1) of 8.3% (2022–2027) and a total market volume
development of a business and may receive financial return for the ownership of a of US$5.19 trillion by 2027.
small piece of a company, e.g., in later financing rounds.

66 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The lack of necessary regulation creates uncertainty in the evolving market
Overview: Assumptions and Trends

Assumptions Trends

In general, the future of the Digital Capital Raising market looks promising. This is One of the persistent challenges for alternative lending is insufficient government
particularly the case in developing countries such as China, given that more and regulation. This means that governments either allow platforms to function in a
more people are looking for consumer loans outside the traditional banking sector. legal grey area partly beyond regulation or ban such activities altogether. In the
The same applies for business loans due to the increasing number of small and U.S., there is currently a growing lack of confidence in P2P and SME lending
medium-sized enterprises (SMEs). We believe that the efficiency of alternative platforms. This is because existing players have not been capable of consistently
lending platforms, for both consumer and business loans, can attract more limiting fraud and maintaining their customer's trust.
borrowers and investors alike. In our opinion, two of the major driving forces for
The growth potential for alternative financing models is obvious, but the lack of
the expected market development, dependent on the geographical area, are the
necessary regulation brings high uncertainty to the evolving market, in developed
development of the financial sector in general (in emerging economies) and the
and developing countries alike. However, if regulators succeed in improving trust
convenience that alternative forms of lending contribute to the average borrowing
and security for both borrowers and investors without restricting the dynamic and
process (in developed countries).
flexibility of this market, projections for the future look very promising.
The growth projections for alternative financing instruments are very promising.
In general, U.S. platforms provide all the necessary infrastructure and can
However, the market faces one major challenge: controlling fraudulent activities.
aggregate a huge audience on both sides, borrowers and investors. Kickstarter and
Crowd-based financing forms for business activities only add value to the market if
Indiegogo, two of the biggest players in this field, are projected to continue to
borrowers and investors can trust one another. Regulation is the key to securing
dominate the reward-based crowdfunding space.
this trust by establishing binding rules and guidelines. However, financial regulation
is very complex and slows down the dynamic of an evolving market.

67 Notes: (1) SME: Small & Medium Enterprises

Sources: Statista Market Insights 2023

 The transaction value of the Digital Capital Raising market is estimated to
increase at a CAGR(1) of 1.9% from 2017 to 2027
Market size: Global

Transaction value forecast in billion US$

+1.9% 75.5
71.8 73.6
69.7
66.4 67.0 2.0 1.3 2.1 1.3
62.3 64.4 64.8
61.8
65.0
1.8 1.2 1.9 1.2
1.4 1.2 1.5 1.2 1.5 1.1 1.6 1.2
1.2 1.2 1.3 1.2
1.3 1.1

36.2 37.8 39.3

27.4 27.9 30.9 32.8 34.6
25.6 27.8 31.1

34.2 34.4 34.3 31.6 32.9 31.3 31.5 32.1 32.4 32.6 32.8

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Marketplace Lending (Consumer) Crowdlending (Business) Crowdinvesting Crowdfunding

68 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Europe shows the highest growth when it comes to the transaction value of
digital capital raising, with a CAGR(1) of 7.8%
Market size: regional comparison (1/2)

Transaction value forecast in billion US$

+0.8%(1)
35.6
34.2
0.4 0.3 0.5 0.4

7.7 8.0
+4.5%(1)
20.9
16.8 0.4 0.0 0.0
+7.8%(1)
0.3 0.0 0.0 12.6
25.8 26.7 +3.6%(1)
8.7 1.1 0.3
20.5 3.2 6.3
16.4 0.7 0.3 5.3 0.4
2.7 0.6 0.4
8.0 2.1 0.4 2.7
5.0 2.5 2.5
2022 2027 2022 2027 2022 2027 2022 2027
U.S. China Europe ROW(2)

Crowdlending (Business) Marketplace Lending (Consumer) Crowdinvesting Crowdfunding

69 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the World

Sources: Statista Market Insights 2023

 With a transaction value of US$4.2 billion, the United Kingdom held the biggest
share in the Digital Capital Raising market among selected countries in 2022
Market size: regional comparison (2/2)

Transaction value forecast in billion US$

+11.0%(1)

7.1
0.8 0.1
0.2
4.2 0.1
+7.7%(1) +4.1%(1) +3.4%(1) +4.7%(1)
0.5 0.2
6.0 0.0 0.0 0.0 0.1 0.0 0.0
1.5 0.0
3.4 1.0 0.0 0.9 0.0 1.1 0.0 0.9 0.1 1.1 0.1 0.9 0.1 1.1 0.1
0.0
1.0 0.0 1.4 0.2 0.3 0.1 0.1 0.2 0.2
0.7 0.8 0.7 0.8 0.6 0.7
2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
United Kingdom Indonesia Italy Germany Japan

Crowdlending (Business) Crowdinvesting Marketplace Lending (Consumer) Crowdfunding

70 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The U.S. marketplace lending services appears to be the most lucrative out of
the three major regions/countries examined
Average transaction value per campaign: Regional Comparison (1/2)

Average transaction value per campaign forecast in thousand US$

15,285 11 2,154 151

30 0 29 31
2022 2022 2022 2022
66 19 5 10

229 0 62 19

U.S China ROW

15,701 11 Europe 2,377 151

34 0 38 38
2027 2027 2027 2027
8 51 7 13

238 0 77 24

Crowdlending Crowdfunding Crowdinvesting Marketplace Lending

71 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Out of the selected countries, Indonesia had the highest average transaction
value per campaign for crowdinvesting in 2022
Average transaction value per campaign: Regional Comparison (2/2)

Average transaction value per campaign forecast in thousand US$

730 46,931 226,043

55 28 20
2022 2022 2022
16 5 43
150 288 73

888 55,906 274,019

76 36 26
2027 2027 2027
21 7 62
262 1,523 92

5,327 18,667
113
2022 1,054 2022 8
92 138
5,173 21,499
142
2027 1,148 2027 12
122 163
Crowdlending Crowdfunding Crowdinvesting Marketplace Lending

72 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 When it comes to digital capital raising campaigns, China it expected to reach
51.7 million by 2027
Campaign Numbers: Regional Comparison (1/2)

Number of campaign forecast in thousand

+1% (1) +1% (1)

201.1 51,725.9
193.5 48,828.0
14.1 32.9
12.0 1.7
11.1 1.7 13.1 32.0 1.9 0.8

64.9 71.5

48,781.1 51,678.2
0.5% (1)
-0.1% (1)
115.9 115.9 16.3 16.9
1.2 1.4 13.6 16.4
135.2 134.8 177.7 182.6
24.6 27.8 36.8 33.2
58.5 50.8 60.2 45.4 110.9 116.1
2022 2027 2022 2027
U.S China 2022 Europe 2027 2021 ROW (2) 2027

Crowdlending Crowdfunding Crowdinvesting Marketplace Lending

73 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year, (2) ROW : Rest of the World

Sources: Statista Market Insights 2023

 Indonesia is expected to have the strongest demand in the Digital Capital
Raising market by 2027
Campaign Numbers: Regional Comparison (2/2)

Number of campaign forecast in thousand

+0.3%(1)

36,469.3
268.9 -2.8%(1) -0.5%(1)
9,538.6 -1.5%(1)
3,838.0 37,046.0 8,037.2 13,545.4
5,457.7 0.4
272.1 +1.9%(1) 36.6
10,450.4 4.6 1,228.1
394.6
3,424.0 11,744.1 451.6 4,171.4 13,181.1
10,703.7 6,703.0
6.5 3.9 2,675.1 0.4 1,433.9
5.4 3.8 4.7 903.0 37.0
6,966.0
22,823.8 22,899.5 2,326.4 5,067.0 2,200.2 422.0
3,598.0
10,694.4 11,733.7 535.6
2,326.4 5,603.8 903.2 8,145.5 8,148.9

2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
United Kingdom Indonesia Italy Germany Japan

Crowdlending Crowdfunding Crowdinvesting Marketplace Lending

74 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Funding Circle is slowly becoming an alternate financial lifeline for SMEs in
Europe and the U.S.
Company Profiles: Funding Circle

Funding Circle key facts Product: peer-to-peer lending platform

Total income: £206.9 million (2021) CAGR(1): 8.0% (2019–2021) Funding Circle operates a peer-to-peer lending platform on which SMEs can apply
for business loans. Loan applications only take a few minutes to fill out, and thanks
Operating profit: £64.2 million (2021) LUM(2): £4.5 billion (2021)
to proprietary credit risk evaluation algorithms, applicants receive an approval or
Founded: 2010 Headquarters: London, UK rejection within seconds. Loans are available in the UK, the U.S., Germany and the
Netherlands. Funding Circle has recently added invoice financing to its products
and has plans to roll out a business charge credit card for SMEs.
Funding Circle’s regional subsidiaries and technical hubs
Funding Circle’s digital strategy

Funding Circle was originally accessible to private and institutional investors alike
but closed its marketplace for private investors in 2022 to focus on institutional
investors instead. One of its core strengths is the streamlined, digital application
process, which is powered by state-of-the-art machine learning algorithms. This
allows for near-instant decision-making to reduce its exposure to risky loans while
making more loans available to SMEs, which have been traditionally
underrepresented for the receival of credit. Funding Circle has accumulated over
two billion data points on over 26 million companies, and its data scientists analyze

Operational company Technical hub

this data to continually tweak the predictive models powering the decision engine.

75 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Company information

 Upstart’s credit risk rating algorithms take non-traditional variables, such as
education, into account to more accurately predict creditworthiness
Startup Analysis: Upstart

Overview Analysis

Upstart is a U.S.-based lending platform powered by artificial intelligence (AI). It Is the product unique?
offers personal loans of three- and five-year terms. Loans are funded by bank
While several FinTech companies use machine learning and AI models to evaluate
partners who can use the marketplace to pick loans from approved applications.
an applicant’s creditworthiness, many have pivoted away from personal loans to
Upstart has developed a proprietary default prediction model for rating the
focus on SME loans instead, leaving open a market opportunity for Upstart.
creditworthiness of applicants that is not only based on conventional criteria, such
as credit history, income, and FICO score. Instead, it also takes into account non- What are its advantages, and can it handle possible constraints?
traditional variables, such as education and broader employment history, which Upstart has continually improved its algorithms and broadened its pool of data
can often give a clearer picture of a person’s ability and willingness to repay a loan. sources, which is serving as input to these models, generating network effects and,
Upstart raised US$50 million in its latest round of funding in 2019 and subsequently in turn, more accurately predicting the credit risk of potential loans and leading to
went public in late 2020. higher approval rates. However, Upstart was negatively affected the by COVID-19
pandemic, and its AI models have not been extensively tested in adverse market
conditions, leaving their effectiveness open to question in an economic downturn.

The future of marketplace lending is uncertain; however, Upstart has

established itself as a leading innovator for AI-powered credit risk rating
algorithms, with positive implications for consumers and bank partners.

76

Sources: Company information

 As regulation efforts determine the future of the business model within the
crowdlending sector, Asian markets have become the focal point of the industry
Deep dive: Digital Capital Raising

P2P lending in China Online P2P lending platforms in China

The Chinese crowdlending sector experienced growth at a CAGR(1) of 178% between 3.844
2013 and 2017, quickly becoming the largest market in the world. However,
operators abused the regulatory vacuum: Ponzi schemes have erased life savings 2.448
and created an atmosphere of mistrust, with predatory lending practices making 1.854 1.931
international headlines. In 2015, Chinese regulators started adopting a strict 1.021
regulatory framework but completely outlawed the practice in 2020, leaving many 523 343
148
investors and borrowers unable to retrieve their funds.
2012 2013 2014 2015 2016 2017 2018 2019

P2P lending in Indonesia Indonesia’s P2P loan disbursement in Trillion Rupiah

250
Since 2015, foreign online lenders have increasingly targeted Indonesia’s
population of over 270 million. The market is booming, with a fivefold increase in 155
regulated platforms between 2019 and 2022, and a threefold increase in
unregulated platforms in 2019, currently totaling 1,493, according to Indonesia’s 58 73
Financial Services Authority. New capital requirements were enacted to deter 3 20
predatory lending practices and weed out platforms at risk of defaulting.
2017 2018 2019 2020 2021 2022e

77

Sources: Company information

MARKETS

Digital Assets
 Digital Assets is an important part of the FinTech Market
Overview: Market Definition

Market definition
In scope Out of scope
Digital assets refer to any type of digital or virtual item that has value,
including cryptocurrencies, digital tokens, and non-fungible tokens This market includes: This market excludes:
(NFTs). These assets are created, stored, and traded on a digital platform, • Cryptocurrency exchanges • Traditional Investments
such as a blockchain, and can be bought, sold, or traded such as
traditional assets. • Trading platforms / neobrokers • Physical Assets

Examples of digital assets include Bitcoin, Ethereum, and collectible NFTs • Neobanks
such as digital art or virtual real estate.
• NFT marketplaces

• DeFi services

79

Sources: Statista Market Insights 2023

 Market focus on Digital Payments
Overview: Market Scope

Cryptocurrencies Non-fungible token (NFT) Decentralized Finance (DeFi)

• Cryptocurrencies are digital currencies that use an • Non-fungible token (NFT) is a unique identifier that
• Decentralized Finance (DeFi), refers to a set
online ledger with strong cryptography to secure online represents ownership of real-world or digital assets, of financial services and products that are
transactions. Generally, cryptocurrencies are such as art, music, collectibles, in-game items, and built on decentralized blockchain networks,
decentralized networks based on blockchain technology even real estate. These tokens are cryptographically without the involvement of intermediaries
– a distributed ledger technology that autonomously secured in a blockchain (Ethereum, Solana, such as banks or other financial institutions.
records peer-to-peer transactions across decentralized Avalanche, etc.), and the cryptocurrency of the
computers without a central authority. • Within our market scope, we focus only on
underlying blockchain is used for NFT transactions.
Decentralized exchanges (DEXs),
• Within our market scope, we focus only on • Within our market scope, we focus only on NFT Decentralized lending and borrowing
cryptocurrency exchanges, online trading platforms, and marketplaces that provide either exclusively B2C or platforms, Decentralized payment systems
neobanks that provide either exclusively B2C or both and Stablecoins that provide either
both B2B and B2C services; those that work solely
exclusively B2C or both B2B and B2C
B2B and B2C services; those that work solely with B2B with B2B clients are excluded from the market. services.
clients are excluded from the market.

80

Sources: Statista Market Insights 2023

 Digital Assets space although relatively new shows the potential to disrupt
several markets
Overview: Customer Benefit and Market Development

Customer Benefit Market size and future development

Since the inception of blockchain technology in 2008, tremendous advancements Global revenue in the Digital assets market came to US$24.6 billion in 2022. The
have led to the implementation of several novel ideas and features such as smart highest revenue came from Cryptocurrencies.
contracts. The introduction of smart contracts has unlocked a plethora of
By global comparison, amounting to US$11.5 billion, the U.S. had the most revenue
possibilities and given rise to an entire crypto ecosystem.
managed in 2022. Europe comes in second, having revenue managed of US$6.6
One such use case of this technology is decentralized finance, which is disrupting billion. Within Europe, the leading countries with the highest revenue managed
the financial payment, lending, and investment industry by offering similar services were Germany and the U.K, with US$1.2 billion and US$1.1 billion, respectively.
without the need for intermediaries. Non-fungible tokens are reshaping the way
With a CAGR(2) of 34.3%, the U.S. is forecast to have the strongest annual growth
retail and art is being sold with NFT marketplaces improving accessibility and reach
rate between 2022 and 2027 and is expected to generate a market volume of
among consumers.
US$50.1 billion by 2027.
The revolution around Web 3.0 intends to shift power from big technology
Europe is projected to have an average annual growth rate of 21.3% (2022–2027)
corporations into the hands of users by offering novel services built on core
and a total market volume of US$25.8 billion by 2027.
concepts of decentralization, openness, and better internet user utility. Web 3.0 is
also observed as the foundational layer that would power the metaverse
experience in the future.

81 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Digital Assets are disrupting the financial ecosystem, however, there is an
immense need for regulatory scrutiny
Overview: Assumptions and Trends

Assumptions Trends

Digital Assets market is still in its infancy; however, several used cases are Key trends to watch out for in the Digital Assets market are:
stemming out of this market. The future development of digital assets market
• Institutional adoption: As more institutional investors enter the market; the
depends on the evolution of a few factors: High level of volatility, prices of
adoption of cryptocurrencies is likely to increase, leading to a greater liquidity,
cryptocurrencies can fluctuate significantly in a short period of time, making it a
stable prices, and wider acceptance of cryptocurrencies as a legitimate asset
risky investment for some. This volatility can be attributed to a variety of factors,
class.
including market speculation, government regulations, and the overall lack of
institutional backing. The crypto market is that it has not yet reached widespread • DeFi has seen significant growth in recent years, and it is likely to continue as
adoption. While there are a growing number of businesses and individuals more people look for alternatives to traditional financial systems.
accepting cryptocurrencies as a form of payment, the market is still in its early • NFTs have gained popularity in the art world and other areas, and it is likely that
stages and most people are not yet familiar with or using cryptocurrencies on a they will continue to be a trend in the cryptocurrency market.
regular basis. Many countries have not yet established clear guidelines or laws for
• Environmental concerns: As the use of cryptocurrencies increases, so does the
the use and trading of cryptocurrencies, leading to confusion and potential risks for
energy consumption required to power the networks that support them. This
investors. As more governments begin to regulate the crypto market, it is likely that
has led to concerns about the environmental impact of cryptocurrencies, and it
the market will become more stable and mainstream.
is likely that this will continue to be a trend that is closely watched in the market.
However, until this happens, there will likely continue to be a level of uncertainty
and risk involved in investing in cryptocurrencies.

82

Sources Statista Market Insights 2023

 Digital Assets revenue is estimated to increase at a CAGR(1) of 57.6% from 2017
to 2027
Market Size: Global

Revenue forecast in billion US$

102.7
96.6 3.2
88.7 3.0
2.8
75.4 34.7
+57.6% (1) 2.3 32.8
30.2
56.4
25.0
1.6
38.9 17.0
0.8
6.2 24.6 64.9
55.7 60.7
5.2 0.9 37.9
48.1
7.0 31.9
1.1 1.6 1.4 18.5
0.0 0.0 0.0 0.0 0.0
1.1 0.0 1.6 0.0 1.4 0.0 7.0

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Cryptocurrencies DeFi NFT

83 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 The Unites States shows the biggest growth in Digital Assets revenue with a
CAGR(1) of 34.3%
Market Size: Regional Comparison (1/2)

Revenue forecast in billion US$

+34.3%(1)
50.1
1.5

16.9
+31.3%(1) +32.7%(1) 26.5
25.8
0.8 0.8
8.7 8.9
11.5 31.6 6.6 6.4
0.4 2.4 16.3 16.7
1.4 0.2 1.4 0.2
8.6 5.0 4.8
2022 2027 2022 2027
2022 2027 Europe ROW(2)
U.S.

Cryptocurrencies DeFi NFT

84 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the World

Sources: Statista Market Insights 2023

 With revenue of 1.2 billion US$, Germany is the biggest market among selected
countries, in 2022
Market Size: Regional Comparison (2/2)

Revenue forecast in billion US$

+39.9%(1)

6.0
+24.4%(1) 0.2 +33.3%(1) +34.4%(1)
+29.3%(1)
2.0
3.7 3.8 3.9
0.1 0.1 0.1 3.0
1.3 1.3 1.3 0.1
1.0
1.2 0.0 1.1 3.8 0.0
0.0 0.9 0.0 0.9 0.0 0.8
2.4 2.4 2.4 1.9
0.9 0.3 0.8 0.2 0.7 0.2 0.2 0.6 0.2
0.7
2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
Germany United Kingdom Canada Japan Russia

Cryptocurrencies DeFi NFT

85 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Out of the three major regions/countries examined, consumers in the U.S.
invested the most on Decentralized Finance protocols
Average revenue value per User: Regional Comparison (2/2)

Average revenue per user forecast in US$

169 51 17

2022 473 2022 142 2022 30

3,509 1,052 361

U.S ROW
317 Europe 87 24

2027 981 2027 269 2027 55

18,025 4,951 1,348

Cryptocurrencies NFT DeFi

86

Sources: Statista Market Insights 2023

 Among selected countries, users in Canada were seen to invest the most on
DeFi protocols in 2022
Average revenue value per User: Regional Comparison (2/2)

Average revenue per user forecast in US$

86 97 33
2022 241 2022 273 2022 94
1,790 2,026 694

123 189 50
Germany Canada Russia
2027 382 2027 583 2027 156
7,012 10,715 2,858

65 49
2022 182 2022 139
1,350 1,029

170 95
UK Japan
2027 525 2027 294
9,640 5,400

Cryptocurrencies NFT DeFi

87

Sources: Statista Market Insights 2023

 The number of digital assets users in Europe are expected to reach 191.6
million by 2027
User numbers: Regional Comparison (1/2)

Number of users forecast in millions

+20% (1)
729.3
14.8 6.6

291.7 707.8
+14% (1)
+14% (1) 191.6 7.7 3.8
102.2 101.5 2.9 1.8
52.8 280.2
1.6 0.9 1.7 1.3 186.9
0.7
51.2 0.9 99.7 98.5

2022 2027 2022 2027 2022 2027

U.S. Europe ROW (2)

Cryptocurrencies NFT DeFi

88 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the world

Sources: Statista Market Insights 2023

 Russia is expected to have the strongest demand in the Digital Assets market by
2027
Market size: Regional Comparison (2/2)

Number of users forecast in millions

+15% (1)

38.5
+14% (1)
+11% (1) 0.6
0.4
11.6% (1)
26.2
22.8 +13% (1)
19.5 0.4 0.2
0.4 0.2 19.3
0.3 0.2 13.3 13.1 13.8 0.3 0.3 37.5
11.3
0.2 0.2 0.2 0.1 0.2 0.2 25.6
0.2 0.1 22.2 7.2 0.1
19.1 18.7
10.9 13.0 12.8 13.4
7.0 0.1

2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
Germany UK Canada Japan Russia

Cryptocurrencies NFT DeFi

89 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Denmark had the highest user penetration rate(1) in the Digital Assets market in
2022
Penetration Rates: Global Comparison

Digital Assets user penetration rate in 2022

low high no data

90 Notes: (1) User Penetration Rate is the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

Sources: Statista Market Insights 2023

 Coinbase has expanded to over 100 countries as cryptocurrencies have gone
mainstream
Company Profiles: Coinbase

Coinbase key facts Product: cryptocurrency exchange platform

Revenue: US$7.8 billion (2021) CAGR(1): 283.2% (2019–2021) Coinbase operates the biggest cryptocurrency exchange in the United States and, in
terms of revenue, is the second-biggest platform worldwide. Users can invest in
Net income: US$3.6 billion (2021) Users: 103 million (2022)
over 9,500 digital assets, such as Bitcoin and Ethereum, and take advantage of the
Founded: 2012 Headquarters: Distributed, remote-first high volatility and potential value gains which are inherent to this asset class.
Coinbase also acts as a custodian for the user’s assets, which are stored securely in
a cryptocurrency wallet. In the wake of cryptocurrency finding more mainstream
Supported countries
approval, loans backed by Bitcoin have been added to the product lineup offered
by Coinbase.

Coinbase’s digital strategy

What is remarkable about Coinbase is its embrace of different modalities for users
to interact with the platform, offering both a web-based interface and a mobile app
that can be used seamlessly. As the assets owned by users, which the SEC classifies
similarly as stocks, can have substantial value, Coinbase complies with strict
security standards and AML-KYC(2) laws. Coinbase has expanded to many crypto-
friendly jurisdictions with high internet penetration and crypto ownership around
the world, giving it a significant advantage over many localized competitors.

91 Notes: (1) CAGR: Compound Annual Growth Rate, (2) AML-KYC: Anti-Money Laundering Know-Your-Customer

Sources: Company information

 Many start-ups and companies are entering the crypto sector to make money
with all kinds of new solutions, resulting in the creation of a diverse ecosystem
Startup Analysis: Cryptocurrencies

Selected key players per segment in the crypto space

Exchanges Institutional Trading Asset Management Tokenization Infrastructure Crypto Banking Retail Wallets (Execution)
CeFi DeFi

OnX

Miners NFT Solutions Tax Solutions Data Borrowing/Lending Payments

CeFi DeFi

Crypto ATMs

92

Sources: Company information

 A cryptocurrency is a tradable and decentralized digital asset built on blockchain
technology
Deep dive: Digital Assets (1/4)

Simplified explanation of how cryptocurrencies work(1)

What is a cryptocurrency?
Someone initiates a The transaction is broadcasted to Nodes attempt to validate the A cryptocurrency is a digital currency.
transaction. all nodes of a peer-to-peer transactions based on embedded Each coin consists of cryptographic
network. algorithms (PoW, PoS(2)). signatures definitively proving
individual ownership.

What is a blockchain?
A blockchain is a distributed ledger
that records all transactions by
gathering them in blocks, which are
The validated transactions are then immutably chained together.
The transaction is verified! Nodes Once validated, the signed block is
continue to work on the next block. broadcast to the other network bundled as a block and added to

nodes, which then accept it. the blockchain.

93 Notes: (1) Based on Bitcoin network; some differences may apply to other cryptocurrencies and blockchains utilizing a different architecture (2) Proof of work and proof of stake – they are the two major consensus mechanisms
used by most cryptocurrencies today (see slide 35 for explanation)
Sources: Statista Market Insights 2023
 The crypto segment reached an average market capitalization of US$2 trillion in
2021 with Bitcoin and Ethereum constituting more than half the entire sector
Deep dive: Digital Assets (2/4)

Average market capitalization of the crypto segment in US$ billion in 2021

Other 420

325
Terra 9
LUNA(1)
USD-
39 8 7 Coin 12

Avalanche

Polygon
27 23 27
9
890 XRP 48 61 33 Binance Shiba-Inu 6

Cryptocurrencies Smart contract platforms Exchange tokens Stablecoins Memecoins Other

94 Notes: Terra Classic (LUNC, or LUNA 1.0)

Sources: CoinMarketCap,; TradingView; CoinGecko

 NFTs(1) are tradable decentralized digital assets minted on the blockchain
network
Deep dive: Digital Assets (3/4)

Creating and purchasing an NFT(1)

Asset Preparation Setup & Storage Price & Token Selection Other 420
Token Minting Tokenization Complete
NFT(1) Creation

Create the digital Set up MetaMask Establish the number of pieces Mint the token Digital asset is
asset that will be wallet to upload and and, price of the NFT(1), including and pay gas converted to
minted as an store asset on the royalties, and choose an fees in native an NFT(1) and
NFT(1). platform. appropriate token standard. token. ready for sale.

Marketplace & Setup NFT Selection NFT Purchases Change Ownership Transaction Complete
NFT(1) Purchase

Choose NFT(1) marketplace Choose the Submit bid if the NFT(1) Pay gas fees for asset NFT(1) is purchased when the price in
to purchase NFT(1) and set NFT(1) of your is up for auction or purchase and corresponding native tokens is
up MetaMask wallet with choice to simply purchase at transfer of withdrawn from the MetaMask wallet
respective native token. purchase. asking price. ownership. and the NFT(1) is transferred into it.

95 Notes: (1) Non-fungible Token

Sources: Stage-ec.nttdata.com
 OpenSea is by far the largest peer-to-peer marketplace for NFTs(1) by volume
Deep dive: Digital Assets (4/4)

Top-10 NFT(1) marketplaces by sales volume in US$ million 2021 OpenSea: The Leading NFT(1) Marketplace with Multi-Chain Support and
Impressive Metrics
13,057 Other 420
BakerySwap 4,464
4,265
Marketplace 2,374 ▪ Founded in 2017 as a peer-to-peer marketplace for NFTs(1), rare digital items, and
Magic Eden 860 crypto collectibles
826 ▪ Offers platform for users to create their own marketplace for NFTs(1)
Solanart 647
▪ Its API enables developers to search for assets, collections, users, and more
548
▪ In addition to the Ethereum-based exchange, OpenSea offers a gas-free
Foundation 406
exchange based on the polygon protocol with multi-chain support
Nifty Gateway 349
Atomic Hub 307 Key metrics 2021:
Mobox 263 Revenue: US$326 million
122
Users: 900,206
Digital Eyes Market 118
ARPU: US$363
112

96 Notes: (1) Non-fungible Token

Sources: Stage-ec.nttdata.com
MARKETS

Neobanking
 Neobanking is an important part of the FinTech Market
Overview: Market Definition

Market definition
In scope Out of scope
A neobank is a type of challenger bank that solely operates digitally.
Neobanks are newly established banks that do not belong to large This market This market excludes:
includes:
conventional banks. They do not have any physical branches and can • Conventional banks that offer online banking services
provide their services both via mobile and desktop devices. They require • Banks that
their clients to go through a digital onboarding process, which is most operate solely in • Tech companies that integrate online payment services
the digital space into their apps (e.g., WeChat)
frequently done via a smartphone. Neobanks can be of two types: those
and require digital
which have a banking license and those that do not. onboarding • Online banks that were established by conventional banks
(mostly via a
Keyplayers in this market: Revolut, Chime, Nubank, N26, and Monzo.
smartphone) • Banks that have physical branches to serve their clients

• Banks that require a personal visit to open an account

• Micro-investment apps

• Money management apps

• Peer-to-peer lenders

98

Sources: Statista Market Insights 2023

 Revolutionizing the banking industry: How neobanks are changing the way we
manage money
Overview: Customer Benefit and Market Development

Customer benefits Market size and future development

Neobanks offer a range of benefits to customers including: The global transaction value in the Neobanking market came to US$3.21 trillion in
2022.
• Convenience: Neobanks offer customers the ability to access their accounts and
conduct transactions online or through a mobile app, making it easy to manage By global comparison, with US$1.46 trillion, Europe had the top transaction value in
their finances on the go. 2022. The U.S. comes in second, having generated a transaction value of US$1.07
trillion. The lowest transaction value generated was in China, which was US$17.9
• Lower fees: As neobanks do not have the same overhead costs as traditional
billion. Within Europe, the highest transaction values came from the United
banks, they may be able to offer lower fees and/or offer higher interest rates on
Kingdom and France, with transaction values totaling to US$527.3 billion and
deposits.
US$179.1 billion, respectively.
• Enhanced security: Neobanks often use advanced security measures to protect
With a CAGR(1) of 25%, Europe is forecast to have the strongest annual growth rate
customers' personal and financial information.
between 2022 and 2027 and is expected to generate a market volume of US$4.45
• Customization: Neobanks may offer customizable features such as personalized billion by 2027.
financial goals and the ability to set up custom alerts.
The U.S. is projected to have an average annual growth rate of 19.3% (2022–2027)
• Better budgeting tools: Some neobanks offer budgeting tools and financial and a total market volume of US$2.6 trillion by 2027.
management features to help customers track their spending and save money.
China is expected to see a CAGR(1) of 25.9% (2022–2027) and a total market volume
of US$56.5 billion by 2027.

99 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Disruptive innovations: Unlocking the future of neobanking through changing
consumer behavior and emerging market trends
Overview: Assumptions and Trends

Assumptions Trends

Neobanking refers to a new type of financial services provider that operates purely The Neobanking market is experiencing rapid growth and is expected to continue
online, with a focus on providing innovative digital banking services to consumers. this trend in the future. Some of the market trends and future developments that
are likely to shape the neobanking industry in the coming years include
Consumer assumptions about the Neobanking market include a desire for easy and
partnerships with traditional banks, expansion services, and regulations.
convenient access to financial services through digital channels, a preference for
lower fees and greater transparency, and a willingness to try new and innovative • Partnerships with traditional banks: As neobanks continue to grow, some are
financial products. Neobanks appeal to a range of different consumers, including partnering with traditional banks to expand their services and reach. This trend
millennials and younger generations, who are more comfortable with digital is expected to continue as traditional banks look to collaborate with neobanks to
technologies and seek greater control over their financial lives, as well as tech-savvy remain competitive in the digital age.
consumers who are open to using new financial products and services.
• Expansion of services: Neobanks are likely to expand their services beyond
The market for neobanks is expected to continue to grow in the coming years as traditional banking products and services to include additional financial
more consumers shift towards digital banking solutions and traditional banks seek products, e.g., loans, insurance, and investment products.
to adapt to changing consumer preferences. As neobanks continue to expand their
• Regulations: As the Neobanking market continues to grow, regulators are likely
services and reach, they may also begin to compete more directly with traditional
to increase their scrutiny of the industry to ensure that consumers are
banks, potentially disrupting the entire financial services industry.
adequately protected. This could result in new regulations and compliance
requirements for neobanks.

100

Sources: Statista Market Insights 2023

 Neobanking’s transaction value is estimated to increase at a CAGR(1) of 43.8%
from 2017 to 2027
Market Size: Global

Transaction value forecast in billion US$

8,862.5
7,995.8

6,996.1

5,841.5
+43.8% (1)

4,533.1

3,210.6
2,455.1

1,441.5
816.9
234.7 448.0

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

101 Notes: (1) AUM: Assets under Management (2) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 With a CAGR(1) of 25.9%, China showed the biggest growth when it came to
neobanking’s transaction value in 2022
Market Size: Regional Comparison (1/2)

Transaction value forecast in billion US$

+25.0%(1)

4,457.6 +19.3%(1)

2,600.5 +21.7%(1)

1,747.9
1,462.3 1,075.1
655.3 +25.9%(1)
17.9 56.5

2022 2027 2022 2027 2022 2027 2022 2027

U.S. ROW(2) China

102 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the World

Sources: Statista Market Insights 2023

 With a transaction value of US$527.3 billion in 2022, the United Kingdom is the
biggest market among selected countries
Market Size: Regional Comparison (2/2)

Transaction value forecast in billion US$

+24.5%(1)

1,578.0 +26.6%(1)

975.3
+24.9%(1)
+21.7%(1)
+26.8%(1)
544.5
527.3 433.4
299.7 357.9
179.1 162.3 109.3

2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
United Kingdom Russia France Brazil Japan

103 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 As of 2022, the United States has the highest average transaction value per user
in the Neobanking market
Average transaction value per User: Regional Comparison (1/2)

Average transaction value user forecast in US$

2022 23,096 2022 25,965 2022 7,556 2022 24,579

U. S ROW China
Europe

2027 35,866 2027 33,184 2027 10,113 2027 40,528

104

Sources: Statista Market Insights 2023

 Neobank users in the UK has the highest transaction value among selected
countries in 2022
Average transaction value per User: Regional Comparison (2/2)

Average transaction value per user forecast in US$

2022 37,022 2022 26,000 2022 27,868

UK 2027 France Japan

55,952 2027 38,643 2027 47,080

2022 17,342 2022 4,243

Russia 2027 Brazil

25,463 2027 5,811

105

Sources: Statista Market Insights 2023

 It is expected that the number of neobanking users in Europe will reach 124.3
million by 2027
User numbers: Regional Comparison (1/2)

Number of users forecast in millions

172.8
+15%

+16% 124.3

+14% 86.7
78.4
59.5
41.4
+14%
0.7 1.4

2022 2027 2022 2027 2022 2027 2022 2027

Europe U.S ROW (2) China

106 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year, (2) ROW : Rest of the World

Sources: Statista Market Insights 2023

 Among selected countries, Brazil had the highest adopters in the Neobanking
market in 2022
Market size: Regional Comparison (2/2)

Number of users forecast in millions

14.3% (1)

+17% (1)
74.6
+15% (1) 38.3

28.2
+15% (1) 38.2
17.3 +14% (1)
14.2 14.1
6.9 7.6
3.9

2022 2027 2022 2027 2022 2027 2022 2027 2022 2027
UK Russia France Brazil Japan

107 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year

Sources: Statista Market Insights 2023

 Penetration rate (1) for Neobanking is especially high in Ireland and in
Luxembourg
Penetration Rates: Global Comparison

Digital Investments user penetration rate in 2022

low high no data

108 Notes: (1) User Penetration Rate is the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

Sources: Statista Market Insights 2023

 Nubank has become Latin America’s most valuable FinTech in a matter of years
Company Profiles: Nubank (1/2)

Coinbase key facts Product: cryptocurrency exchange platform

Revenue: US$7.8 billion (2021) CAGR(1): 283.2% (2019–2021) Coinbase operates the biggest cryptocurrency exchange in the United States and, in
terms of revenue, is the second-biggest platform worldwide. Users can invest in
Net income: US$3.6 billion (2021) Users: 103 million (2022)
over 9,500 digital assets, such as Bitcoin and Ethereum, and take advantage of the
Founded: 2012 Headquarters: Distributed, remote-first high volatility and potential value gains which are inherent to this asset class.
Coinbase also acts as a custodian for the user’s assets, which are stored securely in
a cryptocurrency wallet. In the wake of cryptocurrency finding more mainstream
Supported countries
approval, loans backed by Bitcoin have been added to the product lineup offered
by Coinbase.

Coinbase’s digital strategy

What is remarkable about Coinbase is its embrace of different modalities for users
to interact with the platform, offering both a web-based interface and a mobile app
that can be used seamlessly. As the assets owned by users, which the SEC classifies
similarly as stocks, can have substantial value, Coinbase complies with strict
security standards and AML-KYC(2) laws. Coinbase has expanded to many crypto-
friendly jurisdictions with high internet penetration and crypto ownership around
the world, giving it a significant advantage over many localized competitors.

109 Notes: (1) CAGR: Compound Annual Growth Rate, (2) AML-KYC: Anti-Money Laundering Know-Your-Customer

Sources: Company information

 Nubank boasts a significantly larger customer base than competitor neobanks
Company Profiles: Nubank (2/2)

Number of customers of selected neobanks in millions

65

20

12
8
6

Monzo N26 Chime Revolut Nubank

110 Notes: Most recent figures for customers in 2022, except for Chime, for which figures were only available for 2021

Sources: Company information: Business of Apps

 Following years of aggressive customer acquisition, challenger banks are
experiencing a wave of fraud
Deep dive: Neobanking

FinTech’s biggest problem is fraud – particularly in the case of neobanks Fraud complaints from customers at UK neobanks

In the early years, neobanks primarily focused on customer acquisition and growth 782
to reach profitability. However, a lack of effort to develop compliance and KYC-
AML(1) systems has led to noticeable increases in fraud complaints and regulators 175
have started levying big fines. False positives are leading to account closures and
the spike in dissatisfied customers now jeopardizes the mission to provide superior
customer experience at lower costs compared to traditional banks.
452 255
426
395
85 121
69
“Look at challenger banks under the hood. Their anti-money laundering
178 174
(AML) and financial crime detection systems are the same as traditional 197
banks’… These engines are so inefficient that only 1% of suspicious activity 144 352
21
is stopped. Overall, 95% of those [accounts or transactions] flagged are false 68
11 87 129 163 157
positives. It’s a huge problem for challenger banks… Any [other] system that 42
15 36
has a 99% fault rate, you would kick out.”
H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
– Georg Hauer, former general manager at N26
Starling Monzo Revolut

111 Notes: (1) Anti-Money Laundering and Know-Your-Customer

Sources: Sifted; UK Financial Ombudsman Service

 Neobanks employ various systems to combat ever-evolving fraud schemes
Deep dive: Neobanking

Steps taken by Revolut‘s fraud prevention system to check a transaction’s legitimacy

Customers are informed about the risks of making

payments by interactive stories. Revolut asserts that it is
95% effective at preventing fraud.

When sending funds to a new recipient, the app asks

whether the sender knows and trusts the recipient, and if
the names mismatch, the app displays a warning.

If a transfer is classified as suspicious, in-app warnings will

be displayed, and sometimes the transfer will be blocked
to keep the customer’s money safe.

For payments deemed at higher risk of scam activity,

customers are required to enter a “forced chat” flow with
a Revolut agent before they are processed.

112

Sources: Sifted; Company information

CHAPTER 3

Appendix
 STATISTA MARKET INSIGHTS

Market Insights – market data,

forecasts, and qualitative insights
Gain a better understanding of markets across 190+ geographical entities – on
a global, regional, country, and/or state level. Access our data via web
interface, download (XLS, PDF, PPT), or reports. Benefit from our 48-hour
customer service guarantee.

• 10 sectors: advertising & media, consumers, countries, digital sector,

finance, health, industrial sector, mobility, and technology
• 1,000+ markets, e.g., FinTech, Food, or Robotics
• KPIs, e.g., revenue, market shares, prices, and volume
• Features: Compare countries & regions, change currencies, select
visualizations, and/or customize downloads
• Use cases: sales planning, investment decision support, resource
allocation, and portfolio management

10 190+ 1,000+ 400+

Find out more on: sectors geographical markets reports
Go to Market Insights https://www.statista.com/marketinsights
entities

114
 STATISTA MARKET INSIGHTS

Market Insights – Marktdaten,

Prognosen und qualitative Einblicke
Verschaffen Sie sich einen Überblick über Märkte in mehr als 190 geografischen
Gebieten – auf globaler, regionaler, Länder- und/oder Bundesstaatenebene.
Greifen Sie auf unsere Daten über eine Webschnittstelle, als Download (XLS, PDF,
PPT) oder als Report zu. Nutzen Sie unsere 48-Stunden-Kundenservice-Garantie.

• 10 Bereiche: Werbung & Medien, Verbraucher:innen, Länder, digitaler

Sektor, Finanzen, Gesundheit, Industrie, Mobilität und Technologie
• 1.000+ Märkte, z. B. FinTech, Lebensmittel oder Robotik
• KPIs, z. B. Umsatz, Marktanteile, Preise und Volumen
• Features: Länder und Regionen vergleichen, Währungen ändern,
Visualisierungen auswählen und/oder Downloads personalisieren
• Anwendungsfälle: Vertriebsplanung, Unterstützung von Investitions-
entscheidungen, Ressourcenverteilung und Portfoliomanagement

10 190+ 1.000+ 400+

Weiter zu den Mehr Informationen unter: Bereiche geografische Märkte Reporte
Market Insights https://de.statista.com/marketinsights Gebiete

115
 STATISTA CONSUMER INSIGHTS

Understand what drives

consumers
Gain a better understanding of consumers, brands, and markets.
With the Statista Consumer Insights, you get access to
streamlined market research tools and all results of the exclusive
Statista surveys. Leverage consumer insights to make data-driven
decisions and unlock new growth opportunities.

• Identify and understand your core audiences

• Track brand KPIs
+
• Analyze competitive landscapes
• Monitor consumer trends globally

2,000,000+ 56 3.5bn+ 15,000+ 500+

Find out more on:
Go to Consumer Insights statista.com/global-consumer-survey
interviews countries & consumers international topics &
territories represented brands industries

116
STATISTA CONSUMER INSIGHTS

Verstehen, was
Konsument:innen bewegt
Verschaffen Sie sich ein besseres Bild von Konsument:innen,
Marken und Märkten. Mit den Statista Consumer Insights
erhalten Sie Zugriff auf effektive Marktforschungstools und alle
Ergebnisse der exklusiven Statista-Umfragen. Nutzen Sie
Verbrauchereinblicke, um datengetriebene Entscheidungen zu
treffen, und erschließen Sie neue Wachstumsmöglichkeiten.

• Ermitteln und verstehen Sie Ihre wichtigsten Zielgruppen

• Messen Sie die KPIs Ihrer Marke
+
• Analysieren Sie die Wettbewerbslandschaft
• Verfolgen Sie Verbrauchertrends auf globaler Ebene

2.000.000+ 56 3,5 Mrd.+ 15.000+ 500+

Weiter zu den Mehr Informationen unter:
Interviews Länder & Gebiete repräsentierte internationale Themen &
Consumer Insights de.statista.com/global-consumer-survey
Konsument:innen Marken Branchen
 STATISTA COMPANY INSIGHTS

Gain insights into over

70 million companies
We provide relevant information about businesses worldwide.
Narrow down your research results using different indicators to find
potential customers, get an overview of your competitive landscape
to assess your market, and identify emerging trends to support your
strategic decision-making.

• Identify potential customers and partners

• Get to know your business environment
• Gain insights for your next research project
• Explore company rankings based on 100+ industries
• Learn about global growth champions

70+ million 50,000+ 200+ 1,000+ 160+

Find out more on:
Go to Company Insights statista.com/companies/about
privately held publicly listed countries & reports focusing on data tables of top
companies companies territories key company data companies

118
 STATISTA COMPANY INSIGHTS

Erhalten Sie Einblicke in über

70 Millionen Unternehmen
Wir bieten relevante Informationen zu Unternehmen weltweit.
Grenzen Sie Ihre Suchergebnisse anhand verschiedener Indikatoren
ein, um potenzielle Kund:innen zu finden, zur Bewertung Ihres
Marktes einen Überblick über die Wettbewerbslandschaft zu
erhalten und aufkommende Trends zu erkennen und dadurch Ihre
strategischen Entscheidungen zu verbessern.

• Finden Sie potenzielle Kund:innen und Partner:innen

Suche.
• Erfahren Sie mehr über Ihr Geschäftsumfeld
• Gewinnen Sie Erkenntnisse für Ihr Projekt
• Erkunden Sie Unternehmensrankings basierend auf 100+
Branchen
• Entdecken Sie die Wachstumschampions
70 Mio.+ 50.000+ 200+ 1.000+ 160+
Weiter zu den Mehr Informationen unter:
private börsennotierte Länder & Gebiete Unternehmens- Datentabellen über
Company Insights de.statista.com/unternehmen/über-companydb
Unternehmen Unternehmen reporte Top-Unternehmen

119
 Author

Sai Satkriti Menon

Senior Analyst Digital Markets

sai-satkriti.menon@statista.com

Sai Satkriti Menon obtained his MBA from Berlin School of Economics and Law,
Germany, with a focus on Digital Business Leadership, Supply Chain Management &
Entrepreneurship. He brings with him a comprehensive understanding of market
structures through his previous roles as a business developer. At Statista he works
on projects related to the Digital Health and FinTech markets.

120
www.statista.com