; FinTech Blockchain Market Size, Forecast, 2031

FinTech Blockchain Market

FinTech Blockchain Market: Segmented: By Application (Cross-border Payment, Clearing, and Settlement, Identity Management, Smart Contract, Exchanges & Remittance, Compliance Management/ Know Your Customers and Other Applications), By Provider (Middleware and Service Providers, Application and Solution Providers, Infrastructure and Base Protocol Providers), By Organization Size (Small & Medium Enterprises, and Large Enterprises), By Industry (Banking, Non -Banking Financial and Insurance) And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031

Published on: Sep-2022
Report Code: FG ICT 01165
No. of Pages: 170-350
Report Format: PDF

[ 170 + Pages Research Report ] FinTech Blockchain Market to surpass USD 518.4 billion by 2031 from USD 4.7 billion in 2021 at a CAGR of 60.1% in the coming years, i.e., 2021-31.

Product Overview

Blockchain technology is changing the way businesses operate in a variety of areas, including financial services. One of the most promising technology combinations, which can revolutionize the fintech industry, is the marriage of blockchain and fintech. FinTech (financial technology) is a new type of financial technology which focuses on new ideas and providing technologically improved financial solutions and services. Fintech is also actively involved in the development and creation of blockchain technology. Smart contracts, for example, employ blockchain technologies to automatically execute a contract between a buyer and a seller. The financial industry is increasingly adopting blockchain technology because it lowers infrastructure costs and enhances productivity. Increased investment in the fintech industry to introduce technologically innovative solutions for the financial and non-financial industries.

Market Highlights

Global FinTech Blockchain market is expected to project a notable CAGR of 60.1% in 2031.

The FinTech blockchain market is growing due to rising client demand for bitcoins, a growing need for faster, cheaper cross-border payment systems, increased interoperability with the financial services sector ecosystem, and a growing desire for robust security mechanisms. 

Global FinTech Blockchain: Segments

Insurance segment to grow with the highest CAGR during 2021-31

Based on industry FinTech Blockchain is segmented into Banking, Non -Banking Financial, and Insurance. Insurance firms are losing a lot of money due to bogus claims & scams that happen all the time in the business, most of the companies are incorporating blockchain technology into their present workflow. The blockchain provides visible information about transactions, which builds trust because the department in charge of validating the claim's authenticity and determining how much of the claim may be reimbursed is always in need of a reliable data store.

Middleware and service provider segment to grow with the highest CAGR during 2021-31

Based on service provider FinTech Blockchain is segmented into Middleware and Service Providers, Application and Solution Providers, and Infrastructure and Base Protocol Providers. The middleware & service providers segment is expected to hold the highest proportion of the FinTech blockchain industry. The increased need for smarter contract services account aggregating & economic wellness, and banking (BaaS) transactions are driving the middleware & service providers segment's growth.

Market Dynamics

Drivers

Rising demand for KYC systems on a Blockchain technology

Due to factors such as increasing demand for distributed user information gathering, growing need for automation and standardization of policy/operations, centralized control, and threats, governance as well as data quality, there is a need for communication & transparency, and notable features such as unusual activity accounting and comprehensive authentication process, the mechanism of KYC verification through the blockchain technology is experiencing rapid growth in demand.

Increasing Adoption of advanced solutions will drive the market growth

The financial industry's increasing digital transformation to provide unique digital experiences and digital goods is changing the nature of financial services. Digital banking technologies like digital banks, pockets, blockchain technology, and automated chatbots for customer support are some of the examples that are seeing increased demand because they improve operating efficiency, provide real-time settlement, and decrease the number of steps as well as intermediaries necessary to attain the same levels of confidence as traditional processes.

Restraint

Lack of awareness and understanding of the technology with the market

However, increased data and information protection, privacy, & control issues, as well as the high complexity involved with legacy system scalability & latency, are projected to stifle worldwide market growth to some extent.

Global FinTech Blockchain: Key Players
  • Accenture Plc,

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • Amazon.com Inc.,
  • Huawei Investment and Holding Co. Ltd.,
  • Infosys Ltd.,
  • Intel Corp.,
  • International Business Machines Corp.,
  • Microsoft Corp.,
  • Oracle Corp.,
  • SAP SE,
  • Tata Consultancy Services Ltd
  • Other Prominent Players

Global FinTech Blockchain: Regions

Global FinTech Blockchain market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is predicted to hold the greatest share of the global market. In terms of technology adoption & infrastructure, North America is regarded as the most step forward region. The widespread presence of significant industry players offering blockchain technology solutions in this region is a primary driving force behind the FinTech blockchain market's expansion.

Impact of Covid-19 on FinTech Blockchain Market

The COVID-19 epidemic has hurt several economies all around the world. Complete lockdowns & quarantine procedures were implemented around the world to battle the outbreak. This has had a significant impact on a variety of industries around the world, including the FinTech blockchain industry. As a result, the crisis is projected to result in structural changes that will have a severe impact on this business.

Global FinTech Blockchain is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global FinTech Blockchain report also contains analysis on:

FinTech Blockchain Segments:

  • By Application                              
    • Cross-border Payment
    • Clearing, and Settlement
    • Identity Management
    • Smart Contract
    • Exchanges & Remittance
    • Compliance Management/ Know Your Customers
    • Other Applications         
  • By Provider                      
    • Middleware and Service Providers
    • Application and Solution Providers
    • Infrastructure and Base Protocol Providers
  • By Organization Size     
    • Small & Medium Enterprises
    • Large Enterprises
  • By Industry 
    • Banking
    • Non-Banking Financial
    • Insurance
  • FinTech Blockchain Dynamics
  • FinTech Blockchain Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

FinTech Blockchain Market Report Scope and Segmentation

Report Attribute Details
The market size value in 2021 USD 4.7 billion
The revenue forecast in 2031 USD 518.4 billion
Growth Rate CAGR of 60.1% from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Application, Provider, Organization site, Industry, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Accenture Plc, Amazon.com Inc., Huawei Investment and Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., and Other Prominent Players.

Frequently Asked Questions (FAQ):

FinTech Blockchain Market size was estimated at USD 4.7 billion by 2021 and is expected to reach USD 518.4 billion in 2031

Accenture Plc, Amazon.com Inc., Huawei Investment and Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd. and Other Prominent Players

Insurance segment is anticipated to hold the FinTech Blockchain Market

Drivers: Rising demand for KYC systems on a Blockchain technology and Increasing Adoption of advanced solutions will drive the market growth

Blockchain technology is changing the way businesses operate in a variety of areas, including financial services. One of the most promising technology combinations, which can revolutionize the fintech industry, is the marriage of blockchain and fintech. FinTech (financial technology) is a new type of financial technology which focuses on new ideas and providing technologically improved financial solutions and services.

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