The fintech blockchain from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
FinTech Blockchain Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The fintech blockchain market size has grown exponentially in recent years. It
will grow from $2.94 billion in 2023 to $4.36 billion in 2024 at a compound
annual growth rate (CAGR) of 48.1%. The growth in the historic period can be
attributed to enhanced security, cost reduction, increased efficiency,
regulatory compliance, rising adoption of cryptocurrencies, innovation in
financial services, partnerships and collaborations.
The fintech blockchain market size is expected to see exponential growth in the
next few years. It will grow to $21.05 billion in 2028 at a compound annual
growth rate (CAGR) of 48.3%. The growth
in the forecast period can be attributed to growing demand for cross-border
payments, increased investment and funding, consumer demand for privacy and
control, innovation in financial services, regulatory compliance, partnerships
and collaborations, expansion into new industries. Major trends in the forecast
period include advancements in blockchain technology, rise of decentralized
finance, integration of artificial intelligence (AI) and machine learning (ML),
expansion of blockchain use cases, emergence of central bank digital
currencies, increasing interoperability between blockchain networks, adoption
of blockchain in supply chain management.
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Scope Of FinTech Blockchain Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
FinTech Blockchain Market Overview
Market Drivers -
The broader adoption of cryptocurrencies is expected to propel the growth of
the fintech blockchain market going forward. Cryptocurrencies are digital or
virtual currencies that use cryptography for security and operate on
decentralized networks based on blockchain technology. The adoption of
cryptocurrencies is due to enhanced security features, lower transaction costs,
faster transaction times, and the growing desire for financial privacy and
control. Blockchain technology revolutionizes fintech by providing secure,
transparent, decentralized platforms for cryptocurrencies, enabling efficient
and cost-effective financial transactions and services. For instance, in
January 2024, according to Security.org, a US-based company dedicated to providing
free and open access to information and resources, cryptocurrency awareness and
ownership increased, with 40% of American adults now holding digital assets, a
growth from 30% in 2023, representing up to 93 million individuals. Therefore,
the broader adoption of cryptocurrencies is driving the fintech blockchain
market.
Market Trends -
Major companies operating in the fintech blockchain market are focusing on
developing advanced solutions, such as blockchain-based motor insurance
platforms, to enhance transaction security, streamline processes, and increase
transparency across financial operations. Blockchain-based motor insurance
platforms help reduce fraud, ensure data integrity, automate transactions, and
improve financial operations' efficiency. In September 2022, XA Group, a
Dubai-based company that develops advanced automotive solutions, including
blockchain-based digital platforms, launched Addenda, a blockchain-based
digital platform designed to streamline and modernize the reconciliation of
motor recovery receivables between insurers. This platform aims to resolve
longstanding challenges in the insurance industry caused by decentralized and
paper-based processes. Addenda facilitates centralized communication and
management of motor claims recovery, involving insurers, brokers, repairers,
and customers, and has been joined by several major UAE-based insurers.
The fintech blockchain market covered in this report is segmented –
1) By Provider: Application And Solution Providers, Middleware Providers,
Infrastructure And Protocols Providers
2) By Organization Size: Small And
Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Application: Payments, Clearing, And Settlement, Exchanges And
Remittance, Smart Contracts, Identity Management, Compliance Management Or Know
Your Customer (KYC), Other Applications
4) By Industry Vertical: Banking, Non-Banking Financial Services, Insurance
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Regional Insights -
Asia-Pacific was the largest region in the fintech blockchain market in 2023.
North America is expected to be the fastest-growing region in the forecast
period. The regions covered in the fintech blockchain market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the fintech blockchain market are Microsoft
Corporation, Amazon Web Service Inc., International Business Machines Corporation
(IBM), Oracle Corporation, Binance Holdings Limited, Coinbase Global Inc.,
Ripple Labs Inc., Payward Inc., Celsius Network Limited, eToro Group Limited,
Gemini Trust Company LLC, Huobi Global Limited, Chainalysis Inc., Circle
Internet Financial Limited, ConsenSys Inc., Paxos Trust Company LLC, Bitstamp
Ltd., Bitfury Group Limited, Ledger SAS, Earthport Plc, Digital Asset Holdings
LLC, BitPay Inc., BlockFi Inc., BTL Group, Factom Inc.
Table of Contents
1. Executive Summary
2. FinTech Blockchain Market Report Structure
3. FinTech Blockchain Market Trends And Strategies
4. FinTech Blockchain Market – Macro Economic Scenario
5. FinTech Blockchain Market Size And Growth
…..
27. FinTech Blockchain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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