Fintech blockchain Market Is Expected to Reach USD 183.56 Billion by 2030, Grow at a CAGR Of 75.80% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, North America is expected to show most of the growth in the FinTech blockchain market.
Farmington, April 06, 2023 (GLOBE NEWSWIRE) — The Global Fintech blockchain Market size was valued at US$ 2.012 Billion. It is expected to grow by 75.80% from 2022 to 2030, reaching nearly US$ 183.56 Billion by 2030. The fintech ecosystem is made up of many different players who all want to improve the financial industry by coming up with new ideas and making it more competitive. This helps customers and the economy as a whole. The fintech ecosystem is made up of five different parts. These are fintech start-ups, technology developers, governments, financial stakeholders, and traditional financial institutions. In the past ten years, there have been many technological revolutions, including ones in social media, AI, big data and cloud computing, virtual reality, and, most notably, blockchain. Based on how it is used and how new it is, fintech can be broken down into several categories. These include payments and banking, investments and capital markets, lending, crowdfunding, insurance services, and loyalty programs. Simply put, the Bitcoin white paper describes blockchain or distributed ledger technology as an open, trustworthy, shared ledger that is spread to all members of the community through a peer-to-peer network. Members of this community may or may not know each other. However, each member keeps his or her own copy of the information, and all members must verify every change to the blockchain as a group.
Request Sample Copy of Report “Fintech blockchain Market Size, Share & Trends Estimation Report By Application (Smart Contracts, Exchanges and Remittance, Clearing and Settlements, Identity Management, Compliance Management/KYC, Others), By End User (Small and Medium Size Enterprises (SMEs), Large Enterprises, By Industry, Banking, Non-Banking Financial), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.
Strategic Developments:
- In April 2019 – Auxesis Services & Technologies (P) Ltd. launches blockchain certificate issuance platform. The platform was launched on Auxledger Network. This is an initiative of the Government of India where NITI Aayog signed a SOI agreement with Auxesis Services & Technologies (P) Ltd. The platform is based on a completely trust-free approach with smart contract functionality.
Regional Outlook:
Most of the growth in the FinTech blockchain market is likely to happen in North America. According to Blockchain-International Financial Corporation’s 2019 report, the United States had up to 54% of the global blockchain market share. Also, the UNCTAD report Digital Economy Report 2019 says that in the future, 75% of blockchain patent applications will come from the United States and China. So, most of the market for FinTech blockchain technology is likely to be in North America.
On the fintech blockchain market, most people think that Europe will be in the lead. Also, the UK is a center for fintech around the world because there are more than 1,600 fintech companies there, and this number is expected to grow by 2030. Also, a 2019 report from the UK Department for International Trade says that London is a global center for financial innovation because most investors are putting more money into UK fintech.
In this market, the Asia-Pacific market is likely to grow. China, India, etc. are the main things that drive the market in this area. Shenzhen Hande Financial Technology Holdings Co. Ltd., a Chinese fintech company, will put $1 billion into blockchain technology to help the market grow. The India Fintech Report 2019 says that over the past few years, more than 4,000 fintech startups have been created in India because the government has been putting more attention on financial innovation.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 75.80% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 183.56 Billion |
| By Type | Smart Contracts, Exchanges and Remittance, Clearing and Settlements, Identity Management, Compliance Management/KYC, Others |
| By End Use | Small and Medium Size Enterprises (SMEs), Large Enterprises, By Industry, Banking, Non-Banking Financial, Others |
| By Companies | 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 |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Increasing Adoption of Blockchain Technology: As more people learn about blockchain technology and figure out how it works, more financial institutions are likely to use it to cut costs, make the system more efficient, and make it safer. This could lead to more money being put into fintech blockchain solutions, which would grow the market.
Rise of Decentralized Finance (DeFi): DeFi is a type of financial service that works on a blockchain network without any middlemen. It has become popular because it is not centralized and doesn’t need the usual financial institutions to work. If DeFi keeps growing, it will probably help the fintech blockchain market grow as well.
Growing Use of Cryptocurrencies: More and more people are using Bitcoin, Ethereum, and other cryptocurrencies. These digital assets work on blockchain networks and are becoming a legal way to pay more and more often. The growing use of cryptocurrencies is likely to drive the growth of the fintech blockchain market.
Increased Focus on Cybersecurity: As the number of cyber attacks goes up, the financial sector is paying more attention to security. Blockchain technology is known for its high level of security, and it is expected to be used to protect financial institutions and their customers from cyber threats.
Government Regulations: Governments are starting to set rules for blockchain technology and cryptocurrencies all over the world. This should give the market more clarity and stability, which could make more people want to invest in fintech blockchain solutions.
Key Segments Covered:
Top Market 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, and others.
By Type:
- Smart Contracts
- Exchanges and Remittance
- Clearing and Settlements
- Identity Management
- Compliance Management/KYC
- Others
By End Use:
- Small and Medium Size Enterprises (SMEs)
- Large Enterprises
- By Industry
- Banking
- Non-Banking Financial
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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