The Global Blockchain Technology in BFSI Market Size and Revenue Forecasts to 2028
The report on the Global Blockchain Technology in BFSI Market initially offers an in-depth overview of the Blockchain Technology in BFSI Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.
Growth of the global blockchain technology in BFSI market is expected to increase significantly in terms of revenue during the forecast period due to increasing demand for distributed ledger technology in banks. Rising adoption of blockchain technology for capital optimization is also a major factor expected to further boost global blockchain technology in BFSI market growth during the forecast period. Increasing adoption of blockchain technology for cross-border payments is expected to further support growth in market size in future. However, high investment to implement blockchain technology is expected to restrain adoption.
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Key Highlights of Report
- 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 increasing application of public blockchain type applications such as Ethereum and Bitcoin.
- Platform segment is projected to account for largest market share over the forecast period due to increasing adoption of cloud technology and blockchain software.
- In terms of revenue contribution to the global blockchain technology in BFSI market, the smart contract segment is projected to lead during the forecast period as a result of increasing demand for self-executing contracts in the banking sector.
- Banking segment is projected to account for comparatively higher market share during the forecast period due to growing use of blockchain technology to simplify banking operations.
- North America market is projected to account for the highest revenue share among other regional markets over the forecast period due to increasing application of blockchain technology by banks and insurance companies in countries in the region to provide enhanced customer service and experience.
The key players profiled 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, and Hewlett Packard Enterprise Development LP.
Global Blockchain Technology in BFSI Market Segmentation based on Product Types and Application Spectrum:
Emergen Research has segmented the global blockchain technology in BFSI market on the basis of type, component, application, end-use, and region.
Type Outlook (Revenue, USD Million; 2021–2028)
- Consortium blockchain
- Private blockchain
- Hybrid blockchain
- Public blockchain
Component Outlook (Revenue, USD Million; 2021–2028)
- Services
- Platforms
Application Outlook (Revenue, USD Million; 2021–2028)
- Record keeping
- Compliance management
- Smart contract
- Digital currency
- Payment
- Others
End-use Outlook (Revenue, USD Million; 2021–2028)
- Insurance
- Banking
- Non-banking financial company
Regional Analysis of the Blockchain Technology in BFSI Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report provides an extensive forecast of the industry and its significant growth in the forecast years. The report provides important information regarding the sales volume, revenue forecast, market size, market share, and current and emerging market trends. Along with this, the report covers SWOT analysis, Porter’s Five Forces analysis, Feasibility analysis, and investment return analysis.
Key Benefits of Buying the Global Blockchain Technology in BFSI Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the Global Blockchain Technology in BFSI Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Blockchain Technology in BFSI Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Blockchain Technology in BFSI Market
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