Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) — The “FinTech Blockchain – Global Market Trajectory & Analytics” report has been added ResearchAndMarkets.com’s Offering.
Global FinTech Blockchain market will reach USD 8.7 billion by the year 2026
Blockchain technology is transforming business in various industries, including the financial sector. The combination of blockchain and fintech emerges as the most promising technology mix, which has the potential to transform the fintech industry. Fintech blockchain, the financial technology application of blockchain technology, offers solutions, software, among various fintech blockchain services leveraged by businesses that provide enhanced and automated financial services.
Growth in the global fintech blockchain market can be attributed to factors such as increasing consumer demand to own and invest in bitcoin; growing need for cheaper, faster, cross-border payment systems; greater compatibility with financial industry ecosystems; and the escalating demand for comprehensive security mechanisms. The market is likely to register rapid growth during the pandemic as various governments establish fintech blockchain facilities.
Amid the COVID-19 crisis, the global market for FinTech Blockchain is estimated at USD 1.3 billion in the year 2022, to reach a revised size of USD 8.7 billion by 2026, growing at a CAGR of 44.8% over the analysis period.
The US market is estimated at $451.6 million in 2022, while China is predicted to reach $874 million by 2026
The FinTech Blockchain market in the United States is estimated at US$451.6 million in the year 2022. The country currently accounts for a 32.8% share of the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$ 874 million by the year 2026, following a CAGR of 52.6% over the analysis period.
Key topics covered:
I. METHODOLOGY
II. BRIEF SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECTED PLAYERS
3. MARKET TRENDS AND DRIVERS
- Digital transformation of the financial sector is driving market growth
- Top Technology Investments in BFSI Sector: 2021
- Rapidly Changing FinTech Landscape Support Blockchain Adoption
- Blockchain promises to improve the transparency, security, immutability and availability of financial services systems and processes
- Transformative impact of blockchain technology in the banking industry
- Post-pandemic focus by banks on digital transformation in favor of blockchain adoption: % of organizations citing priority for 2020
- Blockchain will play an important role in facilitating financial inclusion of the unbanked
- The large unbanked population and focus on their financial inclusion to stimulate blockchain implementations
- Online banking fraud can become history with Blockchain
- With online banking fraud losses on the rise, Blockchain has the potential to offer superior security benefits: Cumulative global online fraud (in billions of dollars) between 2020 and 2024 by region
- Blockchain-based payment processing: An active area of interest for banks
- Blockchain Adoption to Benefit from the Growing Importance of Decentralized Finance (DeFi) in Developing Economies
- Decentralized Finance (DeFi) to Bridge the Huge Funding Gap for SMEs to Increase Blockchain Adoption
- As FinTech disrupts the insurance sector, blockchain technology is poised for growth
- Applications of blockchain in the insurance industry
- Select Startups Transforming the Insurance Industry
- COVID-19 Pandemic Impact: Financial Challenges and Digital Opportunities for the Insurance Industry
- Pandemic accelerates digitization of insurance, providing opportunities for blockchain adoption
- As the underlying technology of digital currencies, expanding cryptocurrency market provides opportunity for FinTech Blockchain
- After the major turnaround of 2020, the year 2021 continues to promise growth for the cryptocurrency market
- As the world economy struggles amid the COVID-19 pandemic, booming cryptocurrency is surprising one and all
- Notable developments shaping post-pandemic trends in the cryptocurrency market
- Crypto pricing continues to rollercoaster
- Central banks are moving into the digital currency space
- As the newer breed of Blockchain-based cryptocurrencies, Stablecoins continue to strengthen
- Institutional investors continue to pour funds into the cryptocurrency market
- With cryptocurrencies outperforming major asset classes, institutional interest continues to rise: % growth of cryptocurrencies vs other asset classes for 2020
- Smart Contracts: Most Promising Use Case of Distributed Ledger Technology
- Blockchain’s growing role in cross-border payments and money transfers
- Global cross-border payment flows (in billion USD) for 2019, 2021 and 2023
- Global cross-border payment market distribution by use case (in %) for 2020
- Blockchain for Fraud Prevention: A New & Potent Weapon in the Making
- Capital Markets: Blockchain to Address Data Duplication, Reconciliation Errors and Settlement Delays
- Major challenges and concerns surrounding blockchain adoption
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies mentioned
- Accenture PLC
- Amazon Web Services, Inc.
- Bitfury Group Limited
- Chain, Inc.
- Digital Asset Holdings, LLC
- Huawei Technologies Co. Ltd.
- IBM Corporation
- Infosys Limited
- Microsoft Corporation
- Oracle Corporation
- RecordsKeeper
- Ripple Labs Inc.
- SAP SE
- Symbiont
- Tata Consultancy Services Limited
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