Global technology blockchain in the BFSI market it is expected to reach a market size of $ 70,026.4 million by 2028 and post a rapid CAGR, according to the latest analysis from Emergen Research. The growth of global blockchain technology in the BFSI market is expected to significantly increase in revenue over the forecast period due to the growing demand for distributed ledger technology in banks. The growing adoption of blockchain technology for capital optimization is also an important factor that should further strengthen the global blockchain technology in the growth of the BFSI market during the forecast period. The growing adoption of blockchain technology for cross-border payments should further support the growth in market size in the future.
However, the high investments to implement blockchain technology are expected to limit adoption and, in turn, impact the growth of global blockchain technology. blockchain in the growth of the BFSI market to some extent during the forecast period.
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The main companies covered in the report are:
Microsoft Corporation, Amazon Web Services, Inc., International Business Machines Corporation, SAP SE, Oracle Corporation, Infosys Limited, Bitfury Group Limited, Auxesis Group, AlphaPoint Corporation, Hewlett Packard Enterprise Development, LP
Main highlights of the report
- The public blockchain segment is expected to lead in terms of revenue expansion at a CAGR of 75.3% during the forecast period. This high growth rate can be attributed to the growing application of public blockchain applications such as Ethereum and Bitcoin.
- The platform segment is expected to account for the largest market share over the forecast period due to the growing adoption of cloud technology and blockchain software.
- In terms of the revenue contribution of global blockchain technology in the BFSI market, the smart contracts segment is expected to lead during the forecast period due to the growing demand for self-executing contracts in the banking sector.
- The banking segment is expected to account for a relatively higher market share over the forecast period due to the increasing use of blockchain technology to streamline banking operations.
- The North American market is expected to account for the highest revenue share among other regional markets over the forecast period due to the increasing application of blockchain technology by banks and insurance companies in the countries of the region to provide customer service and a best experience.
- In October 2020, AlphaPoint Corporation launched the Yield platform. With this platform, AlphaPoint will increase digital currency lending.
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Emergen Research has segmented global blockchain technology in the BFSI market by type, component, application, end use, and region.
Type Outlook (Revenue, USD Million; 2021–2028)
- Blockchain Consortium
- Private blockchain
- Public blockchain
Outlook Component (Revenue, USD Million; 2021–2028)
Outlook Application (Revenue, $ Million; 2021–2028) held
- Compliance management
- Smart contract
- digital currency
End Use Outlook (Revenue, USD Million; 2021-2028)
- Non-bank financial company
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Regional Outlook (Revenue, USD Million; 2021-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America America
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
Overview of Blockchain Technology in the BFSI Market Report:
- Introduction, product scope, market overview and opportunity
- Analysis of producers with analysis of sales, revenues and prices
- Comprehensive analysis of the competitive landscape
- Detailed profiling of key competitors along with their business strategies and market size
- Regional market analysis, sales, revenues, market share and global position
- Market analysis by country with type, applications and production
- Strategic recommendations for established players and new entrants
- An in-depth analysis of the risks, constraints and limitations of Blockchain technology in the BFSI sector
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