Kings Research has published its latest market study titled “Global Digital Finance Market: Size, Share, Trends & Forecast 2024–2031.” The report provides an in-depth evaluation of the digital finance industry’s growth outlook, emerging technologies, and regional opportunities transforming global financial ecosystems.
According to Kings Research, the global digital finance market was valued at USD 3,835.2 million in 2023 and is projected to reach USD 10,095.7 million by 2031, expanding at a CAGR of 13.05% from 2024 to 2031. The expansion is driven by the increasing adoption of smartphones, rising internet penetration, and the growing shift toward cashless transactions across both developed and emerging economies.
Digital finance, encompassing mobile payments, online banking, robo-advisors, and blockchain-enabled financial services, has redefined the way individuals and businesses conduct transactions. Enhanced convenience, accessibility, and security are propelling rapid adoption, while fintech innovations and regulatory modernization are reshaping traditional banking structures.
Kings Research identifies the following key drivers for the digital finance market
- Smartphone Penetration and Mobile Payments Growth: The widespread use of smartphones has made mobile payment solutions a central pillar of financial inclusion. In 2023, the mobile payment segment accounted for 35.60% of the market share due to its convenience and acceptance among consumers and merchants. Contactless transactions surged during and after the COVID-19 pandemic, further boosting digital payment adoption.
- Rise of Decentralized Finance (DeFi): DeFi built on blockchain infrastructure is revolutionizing traditional financial systems by enabling peer-to-peer lending, decentralized exchanges, and automated asset management without intermediaries. While scalability and regulation remain challenges, ongoing innovation positions DeFi as a critical frontier in global financial evolution.
- AI, Blockchain, and Biometric Innovations: Artificial intelligence, blockchain, and biometric authentication are improving financial security, fraud detection, and personalization. These technologies enhance operational efficiency and user trust, enabling smarter, data-driven decision-making for both institutions and consumers.
- Pandemic-Driven Acceleration of Digital Banking: The COVID-19 pandemic catalyzed a global shift toward online banking, digital wallets, and contactless payments. This behavioral transformation continues to sustain growth momentum, especially in developing economies, leapfrogging traditional banking infrastructure.
B2B leaders and financial service providers can benefit from digital finance through
- Operational Efficiency: Automation and digital ecosystems reduce transaction costs and streamline banking operations.
- Financial Inclusion: Digital platforms expand access to credit, savings, and investment for underserved populations.
- Customer Experience: AI-driven personalization enhances user satisfaction and loyalty through tailored financial insights.
Regional Outlook
- North America: Held 31.6% market share in 2023, valued at USD 1,211.9 million. Growth is supported by a robust fintech ecosystem, high smartphone usage, and favorable regulatory frameworks. The U.S. and Canada lead in digital banking and contactless payment adoption, supported by advanced infrastructure and major fintech players such as PayPal, Square, and Stripe.
- Asia-Pacific: Expected to experience the fastest growth due to strong adoption of mobile wallets and super apps in China, India, and Southeast Asia. Governments are promoting cashless economies, while fintech companies such as Ant Group and Revolut are driving innovative payment and lending ecosystems.
- Europe: Characterized by high regulatory compliance under PSD2 and GDPR, Europe continues to integrate secure, interoperable digital payment frameworks. Adyen N.V. and Klarna Bank AB are expanding cross-border digital transaction capabilities, reinforcing the region’s financial digitization.
Competitive Landscape
The global digital finance market is fragmented, with key players adopting partnerships, mergers & acquisitions, and technology collaborations to expand their portfolios and enhance user engagement. Leading companies in the digital finance market include PayPal Holdings, Inc., Square, Inc., Ant Group Co., Ltd., Stripe, Inc., Adyen N.V., and Robinhood Markets, Inc. These firms are investing in AI-driven analytics, blockchain solutions, and cross-border payment networks to cater to global users and small businesses seeking secure and efficient digital financial ecosystems.
The full Kings Research report provides detailed segmentation by application, power source, and region, along with competitive benchmarking and industry forecasts. To request a sample report or access the complete study, visit https://www.kingsresearch.com/digital-finance-market-553.
About Kings Research
Kings Research is a global provider of syndicated market research reports and strategic consulting services, empowering organizations to make data-backed business decisions. All market figures are derived from Kings Research’s proprietary database and validated through secondary research across credible sources, including the IMF, World Bank, and national regulatory authorities.