Global FinTech Blockchain Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global FinTech Blockchain Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global FinTech blockchain market report has been segmented on the basis of provider, organization size, application, end use industry, and region.
Global FinTech Blockchain Market: Overview
FinTech blockchain is ideal for banking and technology professionals who wish to distinguish themselves. Block chains offer companies and users in Fintech a decentralized network for sharing secure information, and provide unalterable transfer of data.
Global FinTech Blockchain Market: Dynamics
Growing compatibility of traditional BFSI systems with advanced financial services organization’s ecosystem is proliferating adoption rate of blockchain technology in banking industries. This is primarily attributed to high level of security offered by blockchain technology while storing and transmitting data, coupled with transparent network infrastructure operations, and decentralization administration process.
Increasing penetration of virtual currencies such as Bitcoin, Litecoin, Dogecoin, and other virtual currencies in developing and developed countries is resulting into growing demand for blockchain technology implementation that are open, anonymous, and secured. This is a factor expected to boost the global market growth.
However, rising data and information security, privacy, and control concerns, and high complexity associated with legacy systems scalability and latency are major challenging factors expected to hamper growth of the global market in to a certain extent.
Furthermore, uncertain regulatory framework and standards, complex blockchain banking used cases, and lack of blockchain applications in developing regions are among major factor expected to decline growth of the target market in the near future. Increasing adoption of blockchain technology for applications in banking sector such as payments, smart contracts, and digital identities is another factor expected to support growth of the global market.
Increasing R&D activities for transformative and highly intelligent programmable blockchain platforms is a key factor expected to create high revenue growth opportunities for players in the global market. This opportunity is also expected to create significant product portfolio enhancement opportunities for prominent entrée level players in the global market across the globe over the forecast period.
Key trend observed in the global market is increasing demand for adopting this technology in applications such as smart contracts, identity management, payments, clearing, and settlement, and compliance management or know your customer (KYC).
Global FinTech Blockchain Market: Segment Insights
Among the application segments, the payments, clearing, and settlement segment is expected to register highest CAGR in the global market. The segment growth is primarily attributed to increasing deployment of blockchain-based smart contracts that reduces costs of execution, verification, arbitration, and fraud prevention among various finance organizations.
Global FinTech Blockchain Market: Regional Insights
The market in North America is expected to dominate in the global market in terms of revenue, owing to high presence of prominent player’s operating as blockchain solutions and services providers in countries such as the US and Canada in this region.
The FinTech blockchain market in Asia Pacific is expected to register significant market share in the target market followed by market in Europe. Whereas, market in Latin America is expected to register lucrative revenue growth in the global market during the forecast period, followed by market in the Middle East & Africa region.
Global FinTech Blockchain Market Segmentation:
Segmentation by Provider:
- Middleware Providers
- Application and Solution Providers
- Infrastructure and Protocols Providers
Segmentation by Organization Size:
- Large enterprises
- Small and Medium-Sized Enterprises (SMEs)
Segmentation by Application:
- Smart Contracts
- Identity Management
- Payments, Clearing, And Settlement
- Compliance Management or Know Your Customer (KYC)
- Others (Cyber Liability, Content Storage Management, Exchanges and Remittance, etc.)
Segmentation by End Use Industry:
- Account Department
- Non-Banking Financial Services
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- BTL Group
- Earthport Plc
- Auxesis Group
- IBM Corporation
- Ripple Labs, Inc.
- Bitfury USA, Inc.
- Com, Inc. (AWS)
- Microsoft Corporation
- Oracle Corporation
- Digital Asset Holdings, LLC
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