FinTech Blockchain Market size was valued at US$ 2.012 Bn. in 2021 and the total FinTech Blockchain revenue is expected to grow by 75.80% from 2022 to 2029, reaching nearly US$ 183.56 Bn.
FinTech Blockchain Market Overview:The Fintech ecosystem is made up of a broad set of players that are all dedicated to innovating and improving competition in the financial industry, eventually benefiting customers and enhancing economic output. Fintech start-ups, technology developers, government, financial stakeholders, and conventional financial institutions are the five unique components of the Fintech ecosystem. Multiple technological revolutions have occurred in the recent decade, covering sectors such as social media, AI, big data and cloud computing, virtual reality, and, most famously, blockchain. Fintech may be classified into several sectors based on its uses and innovation, including payments and banking, investments and capital markets, loans, crowdfunding, insurance services, and loyalty schemes. Simply put, the blockchain, or distributed ledger technology, as defined in the Bitcoin whitepaper, is a public, trustworthy, and shared ledger that is disseminated to all members of a community via a peer-to-peer network. Members of this community may or may not know each other; nonetheless, each member keeps his or her copy of the information, and all members must collectively authenticate each update to the blockchain. This eliminates the requirement for a third-party facilitator. Blockchain is made up of a growing number of documents called blocks that include transactions. Cryptographic signatures and consensus techniques are used to safeguard blocks from manipulation. This enables the blockchain to be a transparent system of machines that creates and maintains the information. The presence of enormous legacy systems that cannot be changed overnight into a decentralized architecture is a significant component of Fintech. Fintech will need a lot of time and evolution before it can integrate blockchain. The Fintech industry has seen several modifications in the recent decade as a result of technological disruptions including artificial intelligence, cloud computing, and blockchain. The level of disruption caused by blockchain, in particular, crosses all Fintech verticals. The lack of customer visibility is a major concern in the Fintech industry. Transparency serves as a cornerstone that bridges the gap between customers and financial organizations. Blockchain is effective at boosting transparency since no one party owns the information processed in the network and it cannot be changed at the whim of a single organization. To know about the Research Methodology :- Request Free Sample Report
Research Methodology:The report exclusively depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this report have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments, the impact of inflation, economic downturns, regulatory & policy changes, and other variables have been factored into the market forecast. The data has been consolidated and added with detailed inputs and analysis, and presented in the report. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive market engineering and calculations for market statistics; market size estimations; market forecasts; market breakdown; and data triangulation. The bottom-up technique has been widely utilized in the whole market engineering process, along with multiple data triangulation methodologies, to perform market estimation and forecasting for the overall market segments and sub-segments covered in the report.
FinTech Blockchain Market Dynamics:Growing demand for smart contracts is a major driver of market growth. A smart contract is a technology that works in conjunction with blockchain. Smart contracts are decentralized consensus-based agreements that are tamper-proof and frequently self-enforcing through automated execution. The major goal of smart contracts was to eliminate the need for centralized organizations to act as transaction authorizers or validators and to automate the entire financial process. The precise standards and features of smart contracts vary between blockchain technologies, but in general, systems share the goal of providing a reliable network as well as a secure general purpose language to allow transactions on the platform to be configured for more difficult scenarios than a simple fund transfer. They are often deployed as high-level objects that coexist on the blockchain alongside transactions and other data. Bitcoin was originally intended solely for peer-to-peer money transfers. However, it quickly demonstrated the ability to be utilized for any type of P2P value exchange on top of the Internet. Smart contracts were launched later, but they sparked tremendous interest and appeal. The contract layer is often separated from the blockchain layer, where the ledger is utilized by smart contracts that activate transactions automatically when certain predefined criteria are satisfied. Blockchains like Ethereum attempt to provide a more versatile development environment than the Bitcoin blockchain by separating the smart contract layer from the blockchain layer. Intricacies involved in the implementation of big data and AI integration are a major restraint of market growth. According to Accenture, 82% of US bankers and 79% of global bankers believe AI will transform the way banks gather data and engage with consumers. Big data and artificial intelligence (AI) have influenced every enterprise. Organizations may acquire personal information about consumers, from social status to financial behavior, habits, and in-app activity, using big data. This information is critical for banks, especially when it comes to credit ratings and other high-risk banking services. AI automates the whole process of detecting fraud, doing risk analysis, and successfully managing transactions with the use of big data. However, Fintech businesses confront several problems when it comes to using these technologies. They need expertise and ongoing upkeep. It will be difficult to integrate new technology into old systems. Implementing this will necessitate not only technological changes but will also transform organizations and compel enterprises and customers to adapt. Companies will need to instruct AI using machine learning to integrate AI with big data. They will require a vast quantity of data to train the algorithm for this. Most financial applications are incapable of processing and retrieving enormous amounts of data. As a result, organizations may tackle this challenge by adopting a one-shot learning model, which allows them to train their machine learning system on fewer quantities of data. Bankless financial management is a major opportunity for market growth. There have been several incidents of blockchain enabling individuals to manage their wealth without the presence of a bank. Those who wish to hold cryptocurrencies such as Bitcoin, Ethereum, or any other type of digital asset can do so through the usage of blockchain digital wallets. These wallet holders are protected by private keys and have their unique public addresses, allowing them to make and receive payments from others. Wallet holders who retain their private keys are the only owners of their assets thanks to the usage of blockchain technology; unlike traditional currency, there are no banks that accept responsibility for storing a customer's money. With the total number of global blockchain wallet holders expected to reach 80 million by 2022, there is significant evidence that blockchain's effect on democratizing finance is already underway - assisting individuals in building wealth in a way that allows them to better govern their assets.
FinTech Blockchain Market Segment Analysis:By Organization Size, the SMEs segment is expected to grow at a CAGR of 8.9% during the forecast period. Small businesses have less time, money, and human resources to devote to developing their specialized tech solutions, so they turn to fintech to outsource complexity and expertise. APIs and other low-code, plug-and-play solutions in general are extremely beneficial for SMEs because they enable them to get digital solutions up and running as fast as possible, with no upfront expenditure and impact on operations. SMEs confront distinct financial issues as compared to bigger enterprises. Smaller firms' finances are often complicated yet limited in scale, making it difficult for them to get traditional financings, such as loans, equity, or trade credit. This is a business problem that fintech was designed to tackle. Non-traditional financing platforms, such as Funding Societies, SmartFunding, and FundedHere, provide SMEs with alternative capital access in the form of peer-to-peer (P2P) lending, invoice financing, and equity crowdfunding, allowing company owners to accomplish next-stage growth. By Industry Vertical, the banking segment is expected to grow at a CAGR of 12.3% during the forecast period. By utilizing global technological breakthroughs, digital payments and banking were built to facilitate financial transactions. Electronic banking is no longer the only kind of digital banking. It includes, among other things, online banking, mobile banking, and the use of electronic cards for payment. Similarly, the global digital payments market is expected to grow by USD 360 billion by 2030. The payments sector includes any transaction that allows for a payment to be made digitally. Traditional banking techniques rely on intermediaries at every level. Every transaction needs the presence of a counterparty to be completed. This results in bottlenecks and systems prone to single points of failure. Disintermediation is the decrease of the use of middlemen between producers and customers. The essence of blockchain is to introduce decentralization into this finance workflow, hence removing the intermediary. In a blockchain network, no single entity controls the transactions. Depending on the selected consensus method, the network as a whole agrees on the state changes in a trustless way.
FinTech Blockchain Market Regional Insights:Investment in the cryptocurrency and blockchain industry increased dramatically in 2021, growing from $5.4 billion in 2020 to more than $30 billion. Globally, there has been tremendous growth in awareness of the potential role of crypto and its underlying technology in current financial institutions. Increased activity in the field has also prompted more action from central banks, with several pondering the introduction of digital currencies similar to China's digital yuan. It has also provoked more regulatory scrutiny. China entirely prohibited crypto mining and trade, while India was the first to follow suit. Other governments, however, have continued to strongly promote fintech exploration and solutions. With payments firms evolving fast across countries, many have set their sights on expanding locally or internationally. This has resulted in a significant increase in cross-border investment activity. The Netherlands-based Prosus announced its $4.7 billion acquisition of payments platform BillDesk 5, while Australia-based BNPL firm Zip acquired a minority stake in ZestMoney. Multiple blockchain-based projects are presently in the works. The Digital Trade Chain, a European Union partnership of seven banks, is cooperating with IBM to create a supply chain management and trade finance platform based on blockchain technology. The purpose is to make cross-border trade easier for European small and medium-sized businesses. SkuChain, established in the United States, attempts to connect bankers in advanced economies with customers in emerging and developing countries, despite a lack of previous commerce or data with these emerging market enterprises. The venture proposes a 'collaborative commerce platform,' which combines payments (such as a credit letter or bank transfer); finance (such as operating loans or short-term exchange loans); and visibility (assimilation with back office systems such as Systems Applications and Products in Data Processing or an Enterprise Resource Planning system). Hijro is another U.S. startup that is developing a blockchain-based financial operating network for international commerce, with real-time business-to-business payment transactions, distribution network financing, and a peer-to-peer working capital marketplace that provides financial service partners and non-bank lenders, such as alternative finance providers, asset-based lenders, and hedge funds, with an effective alternative for lending along the global supply chain.
Report Scope:The FinTech Blockchain Market report includes competitive landscape, industrial supply chain structure, industry overview, national and international policies related to the industry, and the most recent dynamic analysis, among other things. The report discusses the market's drivers, opportunities, restraints, and challenges. The research also outlines market potential on a regional scale. The precise research also contains the key application areas of the market, significant regions, major players, distributors, suppliers, and their contact information, as well as an analysis of strategic partnerships and alliances.
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FinTech blockchain Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.012 Bn. Forecast Period 2022 to 2029 CAGR: 75.80% Market Size in 2029: US $ 183.56 Bn. Segments Covered: by Application • Payments, clearing, and settlement • Exchanges and remittance • Smart contracts • Identity management • Compliance management/Know Your Customer (KYC) • Others (cyber liability and content storage management by Provider • Application and solution providers • Middleware providers • Infrastructure and protocols providers by Organization Size • Small and Medium-Sized Enterprises (SMEs) • Large enterprises by Industry Vertical • Banking • Non-banking financial services • Insurance
FinTech blockchain Market, by Region• North America • Europe • Asia Pacific • South America • Middle East and Africa
FinTech blockchain Market Key Players• AWS • IBM • Microsoft • Ripple • Chain • Earthport • Bitfury • BTL • Oracle • Digital Asset • Circle • Factom • Alphapoint • Coinbase • Abra • Auxesis • Bitpay • Blockcypher • Applied Blockchain • Recordskeeper • Symboint • Guardtime • Cambridge Blockchain • Tradle • Robinhood • Veem • Stellar Frequently Asked Questions: 1] What segments are covered in FinTech blockchain Market report? Ans. The segments covered in FinTech blockchain Market report are based on Application, Provider, Organization Size and Industry Vertical. 2] Which region is expected to hold the highest share in the global FinTech blockchain Market? Ans. North America is expected to hold the highest share in the global FinTech blockchain Market. 3] What is the market size of global FinTech blockchain Market by 2029? Ans. The market size of global FinTech blockchain Market by 2029 is US $ 183.56 Bn. 4] Who are the top key players in the global FinTech blockchain Market? Ans. AWS, IBM, Microsoft, Ripple, Chain, Earthport and Bitfury are the top key players in the global FinTech blockchain Market. 5] What was the market size of global FinTech blockchain Market in 2021? Ans. The market size of global FinTech blockchain Market in 2021 was US $ 20.12 Bn.
1. Global FinTech blockchain Market: Research Methodology 2. Global FinTech blockchain Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global FinTech blockchain Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global FinTech blockchain Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global FinTech blockchain Market Segmentation 4.1 Global FinTech blockchain Market, by Application (2021-2029) • Payments, clearing, and settlement • Exchanges and remittance • Smart contracts • Identity management • Compliance management/Know Your Customer (KYC) • Others (cyber liability and content storage management 4.2 Global FinTech blockchain Market, by Provider (2021-2029) • Application and solution providers • Middleware providers • Infrastructure and protocols providers 4.3 Global FinTech blockchain Market, by Organization Size (2021-2029) • Small and Medium-Sized Enterprises (SMEs) • Large enterprises 4.4 Global FinTech blockchain Market, by Industry Vertical (2021-2029) • Banking • Non-banking financial services • Insurance 5 North America FinTech blockchain Market(2021-2029) 5.1 Global FinTech blockchain Market, by Application (2021-2029) • Payments, clearing, and settlement • Exchanges and remittance • Smart contracts • Identity management • Compliance management/Know Your Customer (KYC) • Others (cyber liability and content storage management 5.2 Global FinTech blockchain Market, by Provider (2021-2029) • Application and solution providers • Middleware providers • Infrastructure and protocols providers 5.3 Global FinTech blockchain Market, by Organization Size (2021-2029) • Small and Medium-Sized Enterprises (SMEs) • Large enterprises 5.4 Global FinTech blockchain Market, by Industry Vertical (2021-2029) • Banking • Non-banking financial services • Insurance 5.5 North America FinTech blockchain Market, by Country (2021-2029) • United States • Canada • Mexico 6. Asia Pacific FinTech blockchain Market (2021-2029) 6.1. Asia Pacific FinTech blockchain Market, by Application (2021-2029) 6.2. Asia Pacific FinTech blockchain Market, by Provider (2021-2029) 6.3. Asia Pacific FinTech blockchain Market, by Organization Size (2021-2029) 6.4. Asia Pacific FinTech blockchain Market, by Industry Vertical (2021-2029) 6.5. Asia Pacific FinTech blockchain Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa FinTech blockchain Market (2021-2029) 7.1 Middle East and Africa FinTech blockchain Market, by Application (2021-2029) 7.2. Middle East and Africa FinTech blockchain Market, by Provider (2021-2029) 7.3. Middle East and Africa FinTech blockchain Market, by Organization Size (2021-2029) 7.4. Middle East and Africa FinTech blockchain Market, by Industry Vertical (2021-2029) 7.5. Middle East and Africa FinTech blockchain Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. South America FinTech blockchain Market (2021-2029) 8.1. South America FinTech blockchain Market, by Application (2021-2029) 8.2. South America FinTech blockchain Market, by Provider (2021-2029) 8.3. South America FinTech blockchain Market, by Organization Size (2021-2029) 8.4. South America FinTech blockchain Market, by Industry Vertical (2021-2029) 8.5. South America FinTech blockchain Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 9. European FinTech blockchain Market (2021-2029) 9.1. European FinTech blockchain Market, by Application (2021-2029) 9.2. European FinTech blockchain Market, by Provider (2021-2029) 9.3. European FinTech blockchain Market, by Organization Size (2021-2029) 9.4. European FinTech blockchain Market, by Industry Vertical (2021-2029) 9.5. European FinTech blockchain Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. AWS 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. IBM 10.3. Microsoft 10.4. Ripple 10.5. Chain 10.6. Earthport 10.7. Bitfury 10.8. BTL 10.9. Oracle 10.10. Digital Asset 10.11. Circle 10.12. Factom 10.13. Alphapoint 10.14. Coinbase 10.15. Abra 10.16. Auxesis 10.17. Bitpay 10.18. Blockcypher 10.19. Applied Blockchain 10.20. Recordskeeper 10.21. Symboint 10.22. Guardtime 10.23. Cambridge Blockchain 10.24. Tradle 10.25. Robinhood 10.26. Veem 10.27. Stellar