The blockchain in banking market is anticipated to expand at a CAGR of 49.4% from 2025 to 2031.The market's growth can be ascribed to the banking sector's growing desire for improved transaction speed, scalability, and lower processing costs.
The blockchain in banking market is expanding due to the growing use of distributed ledger technologies (DLT) in banking and financial services to improve transparency and accountability in transactions. An increasing need for digitalization in banking and financial services, mergers and acquisitions, and technological breakthroughs is driving the global blockchain technology industry. However, the high cost of implementing DLTs and the lack of consistency among providers limit industry expansion.
Blockchain technology is gaining popularity in the banking and financial services industry due to the increasing use of Bitcoin. Cryptocurrency is a digital payment mechanism that does not require banks to authenticate transactions. This peer-to-peer technology allows anyone, anywhere, to make and receive payments. Cryptocurrency's moniker stems from its use of encryption for transaction verification. Encryption strives to ensure security and safety. Cryptocurrency payments are digital, with transactions recorded in an online database rather than actual currency. Cryptocurrency transfers are recorded in a public ledger. Cryptocurrency is held in digital wallets.
The scope of the blockchain in banking market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant blockchain in banking market share. This is mostly due to the presence of important market participants and continuous blockchain technology development in the region. Blockchain technology in banking and finance enhances security and transparency, reducing fraud and driving growth in the region. This region contains the highest concentration of banks and financial institutions, as well as numerous significant enterprises offering banking and financial services. These features make them ideal for implementing blockchain technology in the banking business.
The regional trends and factors influencing the Blockchain in Banking Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Blockchain in Banking Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 49.4% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Blockchain in Banking Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Blockchain in Banking Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The "Blockchain in Banking Market Analysis" was carried out based on product type, application, and geography. Based on the product type, the blockchain in banking market is segmented into public blockchain, private blockchain, and hybrid blockchain. In terms of application, the market is segmented into International and domestic. Based on application, the market is segmented into Clearance & Settlement Systems, Trade Finance, Fraud Detection, E-KYC, Smart Contracts, and Regulatory Reporting & Compliance. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the blockchain banking market. The blockchain in banking market forecast can help stakeholders plan their growth strategies. A few recent key market developments are listed below:
[Source: JP Morgan, Company Website]
[Source: Indian Banks' Blockchain Infrastructure Co Pvt. Ltd, Company Website]
The market report on “Blockchain in Banking Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
The global blockchain in banking market is expected to grow at a CAGR of 49.4% during the forecast period 2023 - 2031.
The incorporation of digital currency is anticipated to play a significant role in the global blockchain banking market in the coming years.
The rise of cryptocurrency blockchain adoption is the major factor that propels the global blockchain in banking market.
The key players holding majority shares in the global blockchain in banking market are Microsoft Corporation, Infosys Limited, Hewlett Packard Enterprise, Amazon Web Services Inc., IBM Corporation.