1. Science / Technology

Fintech Blockchain Market Segmentation, Competitive Landscape and Market Poised for Rapid Growth 2027 | COVID-19 Effects

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Market Highlights

According to Market Research Future (MRFR), the global blockchain in financial technology (fintech) market is estimated to reach USD 6700.63 million at a CAGR of 75.2% from 2017 to 2023 (forecast period). The report summarizes the market opportunities and market ramifications that arose as a result of the COVID-19 pandemic.

Blockchain is a technology that uses a shared ledger to record transactions across a decentralized computer network. Blockchain in fintech monitors and regulates information on digital transactions in fintech and prevents duplication. The incorporation of this technology offers real-time payments against assets with immutable state and digital identity, resulting in substantial cost savings in terms of reconciliation and settlement for a variety of financial institutions and banks. Leading financial institutions and banks, including J.P. Morgan, Citibank, Goldman Sachs, and Barclays, have taken measures to implement this technology.

Market Dynamics

Significant factors driving blockchain in fintech market are strong compatibility with the finance industry's ecosystem, quicker transactions, and decreased overall ownership costs. North America is projected to dominate the market due to a technically advanced region and the involvement of key players. Significant factors driving this demand are the growing cryptocurrency market, initial coin offering (ICO), and reduced transaction costs. Nevertheless, uncertain regulatory standards and frameworks and lack of blockchain applications and use cases are expected to restrict the market growth over the projected period. Future business growth opportunities include the growing acceptance of blockchain applications, such as payments, identity management, clearance and settlements, smart contracts, and new programmable blockchain platforms.

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The global blockchain in fintech market has been segmented into service provider, interaction channel, organization size, and application.

By service provider, the global market has been segmented into application and solutions, middleware & services, and infrastructure & base protocols.

By interaction channel, the market has been segmented into bank branches, mobile applications, websites, call centers, and others.

By organization size, the global market has been segmented into large enterprise and SME.

By application, the market has been segmented into banking, payment, smart contracts, trade & supply chain finance, insurance, capital market, risk management & compliance, digital identity management, and others.

Regional Analysis

The regional analysis of the blockchain in fintech market is studied for North America, Europe, Asia Pacific, and the rest of the world.

North America is expected to dominate the blockchain in fintech market due to the growing adoption of advanced technology and infrastructure in the region. The Asia Pacific is projected to be the fastest-growing area on this market, powered by a rise in overall investment in blockchain technology solutions to change the business processes in the finance industry.

Key Players

The prominent participants in the blockchain in fintech market are Ripple (US), Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US), Chain Inc (US), BTL Group (Canada), Earthport PLC. (UK), Bitfury Group Limited (US), Oracle Corporation (US), and Digital Asset Holdings (US).

Ripple is one of the leading players in this market that connects banks, payment providers, digital asset exchanges, and companies via its platform RippleNet to provide a seamless experience in sending money globally. RippleNet is developed with advanced blockchain technology that is scalable, stable, and interoperates across different networks.

Other players in the global blockchain in fintech market are Circle Internet Financial Limited (Ireland), Guardtime (Estonia), Factom (US), AlphaPoint (US), Coinbase (US), Plutus Financial, Inc. (US), Symbiont.io (US), Auxesis Group (India), BitPay (US), Tradle (US), BlockCypher, Inc. (US), Applied Blockchain Ltd. (UK), Cambridge Blockchain, LLC. (US), Blockchain Advisory Mauritius Foundation (Mauritius), and RecordesKeeper (Spain), among others.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/blockchain-fintech-market-6368

Blockchain in Fintech Market Research Report, Service Provider (Application & solutions, middleware & services, infrastructure), Interaction Channel (bank branch, mobile application), Organization Size (Large Enterprise, SME), Application (Payment, Smart Contract) —  Forecast till 2027

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


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