About Blockchain in Fintech
Blockchain in Fintech offers a promising cost-effective solution to financial institutions with regard to mobile payments and crowdfunding. The growing adoption of blockchain in financial applications is considered to be a revolutionary change as it will challenge the traditional approach to working. Additionally, it will lower the cost of cross-border payments, compliance, and security trading. As the potential benefit of blockchain technology is yet remains unanswered, it provides great opportunities for existing as well as emerging players.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 72.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Blockchain in Fintech market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius] are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].
Segmentation Overview
AMA Research has segmented the market of Global Blockchain in Fintech market by Type (Product Type and Blockchain in Fintech), Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contracts, Identity Management, Compliance Management/Know Your Customer (KYC) and Others (Cyber Liability and Content Storage Management)) and Region.
On the basis of geography, the market of Blockchain in Fintech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Banking will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Provider, the sub-segment i.e. Application and Solution Providers will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Use of AI for Automation and Increasing Adoption of Mobile Technology to Avail Financial Services
Market Growth Drivers:
Growing Cryptocurrency Market, Rising Awareness About Potential Benefits of Block-chain in Finance Industries and Reduced Total Cost of Ownership
Challenges:
Issues Related to Security, Privacy, and Control and Scalability and Latency Problems
Restraints:
Lack of Block-chain Applications and Use Cases and Uncertainty About Potential Application of Block-chain
Opportunities:
Innovative and Programmable Block-chain Platforms and Growing Use of Block-chain Technology in Payments, Smart Contracts, and Digital Identities
Market Leaders and their expansionary development strategies
In March 2019, Carnegie Mellon University announced a partnership with Ripple's University Blockchain Research Initiative (UBRI) to support academic research, technical development, and innovation in blockchain, cryptocurrency, and digital payments.
Different countries have different rules regarding blockchain implementation. United States Wyoming’s Business Corporation Act allows companies to register in Wyoming to use blockchain or other electric networks to store corporate documents. As per the latest amendment, blockchain can be used to identify shareholders in the corporation’s current record of shareholders by a data address, provided that the company can revert to a written record within a reasonable period of time.
Key Target Audience
Application Developers, Services Providers and Distributors, Blockchain Application Builders, Independent Software Vendors (ISVs), Enterprises, End-users, Potential Investors in Technology and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.