Blockchain in Fintech Market Key Players Analysis 2031
The blockchain in fintech market is anticipated to expand at a CAGR of 48.2% from 2023 to 2031. Increased investment in the FinTech sector to develop technologically advanced solutions for the financial and non-financial industries.
Blockchain in Fintech Market Analysis
The blockchain-related fintech business is expanding due to a variety of causes, including rising market capitalizations of cryptocurrencies and ICOs, increased demand for distributed ledger technology, and the deployment of advanced blockchain solutions in financial institutions.
Blockchain in Fintech Industry Overview
- Blockchain in finance organizes and manages information on digital transactions, preventing duplicates. It is intended to record financial data and manage financial transactions with a predetermined value.
- Fintech refers to the evolving integration of financial services and technology. Blockchain eliminates inefficiencies in most banks and financial organizations through operations such as settlement and clearing.
- The most significant impact on the fintech business is that blockchain technology minimizes bank fraud and cyberattacks. Blockchain reduces data breaches and comparative fraudulent operations, allowing financial companies to move or share secure and uninterrupted information via decentralized networks.
Strategic Insights
Blockchain in Fintech Market Drivers and Opportunities
Increase in Digitalization in Insurance Providers to Drive the Blockchain in Fintech Market.
- Blockchain collaborates with the financial services industry, non-banking services, and insurance to improve the effectiveness of back-office services, increasing demand for blockchain in the fintech market.
- The increasing use of cryptocurrency market capitalization due to its secure and trustworthy usage is a major driver for blockchain in the finance industry.
- However, unknown legal norms and frameworks are impeding the expansion of blockchain in the fintech business. In contrast, the development of new mobile applications that facilitate online transactions is likely to accelerate the expansion of blockchain in the fintech business in the coming years.
Blockchain in Fintech Market Report Segmentation Analysis
- Based on the provider, the blockchain in fintech market is segmented into infrastructure provider, middleware provider, and application provider.
- The infrastructure provider segment is expected to hold a substantial blockchain in fintech market share in 2023.
- The raising demand for blockchain standards and protocols such as Openchain, Ethereum, and Hyperledger is driving market growth. Users require protocols because they enable consumers to securely and consistently send information across Bitcoin networks.
Blockchain in Fintech Market Share Analysis By Geography
The scope of the blockchain in fintech 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 fintech market share. North America is predicted to dominate the market in 2024. North America is considered the most progressed region in terms of technology and infrastructure. The presence of important blockchain industry players in North America is fueling the growth of the FinTech blockchain market. Financial companies in the region are using blockchain technology.
Blockchain in Fintech Market Report Scope
The "Blockchain in Fintech Market Analysis" was carried out based on card type, service provider, application, and geography. Based on the provider, the blockchain in fintech market is segmented into infrastructure provider, middleware provider, and application provider. In terms of application, the market is segmented into payments clearing, & settlements, smart contracts, identity management, exchange & remittance compliance management, and others. Based on end use, the market is segmented into banking, non-banking financial companies, and insurance. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Blockchain In Fintech Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the A blockchain in fintech market. The blockchain in fintech market forecast can help stakeholders plan their growth strategies. A few recent key market developments are listed below:
- In May 2022, A UK-based firm called Superscript and Lloyd's, a London-based insurance market broker, introduced a specific insurance product dubbed "Daylight" for cryptocurrency enterprises. This package combines technological liability and cyber insurance to defend against a variety of hazards, including ransomware attacks and unintentional copyright infringement.
[Source: Lloyd's, Company Website]
- In October 2022, Nubank, a Brazilian digital banking firm, revealed plans to launch its cryptocurrency, Nucoin, in Brazil in the first half of 2023. Nubank's decision is a key step toward realizing the transformational potential of blockchain technology and democratizing its benefits beyond the purchase, sale, and holding of cryptocurrencies in Nuapp.
[Source: Nubank, Company Website]
Blockchain in Fintech Market Report Coverage & Deliverables
The market report on “Blockchain in Fintech Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
- Detailed company profiles.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The global blockchain in fintech market is expected to grow at a CAGR of 48.2% during the forecast period 2023 - 2031.
A new breed of programmable blockchain platform is anticipated to play a significant role in the global blockchain in fintech market in the coming years.
The growing peer-to-peer network and increasing use of blockchain in insurance are the major factors that propel the global blockchain in fintech market.
The key players holding majority shares in the global blockchain in fintech market are AWS, IBM, Microsoft, Ripple, and Earthport.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1. Blockchain in Fintech Market - By Provider
1.3.2. Blockchain in Fintech Market - By Application
1.3.3. Blockchain in Fintech Market - By End User
1.3.4. Blockchain in Fintech Market - By Region
1.3.4.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOCKCHAIN IN FINTECH MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. BLOCKCHAIN IN FINTECH MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BLOCKCHAIN IN FINTECH MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOCKCHAIN IN FINTECH - GLOBAL MARKET OVERVIEW
6.2. BLOCKCHAIN IN FINTECH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. BLOCKCHAIN IN FINTECH MARKET REVENUE AND FORECASTS TO 2028 -PROVIDER
7.1. OVERVIEW
7.2. PROVIDER MARKET FORECASTS AND ANALYSIS
7.3. INFRASTRUCTURE PROVIDER
7.3.1. Overview
7.3.2. Infrastructure Provider Market Forecast and Analysis
7.4. MIDDLEWARE PROVIDER
7.4.1. Overview
7.4.2. Middleware Provider Market Forecast and Analysis
7.5. APPLICATION PROVIDER
7.5.1. Overview
7.5.2. Application Provider Market Forecast and Analysis
8. BLOCKCHAIN IN FINTECH MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PAYMENTS, CLEARING, & SETTLEMENTS
8.3.1. Overview
8.3.2. Payments, Clearing, & Settlements Market Forecast and Analysis
8.4. SMART CONTRACTS
8.4.1. Overview
8.4.2. Smart Contracts Market Forecast and Analysis
8.5. IDENTITY MANAGEMENT
8.5.1. Overview
8.5.2. Identity Management Market Forecast and Analysis
8.6. EXCHANGE & REMITTANCE
8.6.1. Overview
8.6.2. Exchange & Remittance Market Forecast and Analysis
8.7. COMPLIANCE MANAGEMENT
8.7.1. Overview
8.7.2. Compliance Management Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BLOCKCHAIN IN FINTECH MARKET REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. BANKING
9.3.1. Overview
9.3.2. Banking Market Forecast and Analysis
9.4. NON-BANKING FINANCIAL COMPANIES
9.4.1. Overview
9.4.2. Non-Banking Financial Companies Market Forecast and Analysis
9.5. INSURANCE
9.5.1. Overview
9.5.2. Insurance Market Forecast and Analysis
10. BLOCKCHAIN IN FINTECH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1. North America Blockchain in Fintech Market Overview
10.1.2. North America Blockchain in Fintech Market Forecasts and Analysis
10.1.3. North America Market Forecasts and Analysis - By Provider
10.1.4. North America Market Forecasts and Analysis - By Application
10.1.5. North America Market Forecasts and Analysis - By End User
10.1.6. North America Market Forecasts and Analysis - By Countries
10.1.6.1. US market
10.1.6.1.1. US Market By Provider
10.1.6.1.2. US Market by Application
10.1.6.1.3. US Market by End User
10.1.6.2. Canada market
10.1.6.2.1. Canada Market By Provider
10.1.6.2.2. Canada Market by Application
10.1.6.2.3. Canada Market by End User
10.1.6.3. Mexico market
10.1.6.3.1. Mexico Market By Provider
10.1.6.3.2. Mexico Market by Application
10.1.6.3.3. Mexico Market by End User
10.2. EUROPE
10.2.1. Europe Blockchain in Fintech Market Overview
10.2.2. Europe Blockchain in Fintech Market Forecasts and Analysis
10.2.3. Europe Market Forecasts and Analysis - By Provider
10.2.4. Europe Market Forecasts and Analysis - By Application
10.2.5. Europe Market Forecasts and Analysis - By End User
10.2.6. Europe Market Forecasts and Analysis - By Countries
10.2.6.1. France market
10.2.6.1.1. France Market By Provider
10.2.6.1.2. France Market by Application
10.2.6.1.3. France Market by End User
10.2.6.2. Germany market
10.2.6.2.1. Germany Market By Provider
10.2.6.2.2. Germany Market by Application
10.2.6.2.3. Germany Market by End User
10.2.6.3. Italy market
10.2.6.3.1. Italy Market By Provider
10.2.6.3.2. Italy Market by Application
10.2.6.3.3. Italy Market by End User
10.2.6.4. Russia market
10.2.6.4.1. Russia Market By Provider
10.2.6.4.2. Russia Market by Application
10.2.6.4.3. Russia Market by End User
10.2.6.5. UK market
10.2.6.5.1. UK Market By Provider
10.2.6.5.2. UK Market by Application
10.2.6.5.3. UK Market by End User
10.2.6.6. Rest of Europe market
10.2.6.6.1. Rest of Europe Market By Provider
10.2.6.6.2. Rest of Europe Market by Application
10.2.6.6.3. Rest of Europe Market by End User
10.3. ASIA PACIFIC (APAC)
10.3.1. Asia Pacific Blockchain in Fintech Market Overview
10.3.2. Asia Pacific Blockchain in Fintech Market Forecasts and Analysis
10.3.3. Asia Pacific Market Forecasts and Analysis - By Provider
10.3.4. Asia Pacific Market Forecasts and Analysis - By Application
10.3.5. Asia Pacific Market Forecasts and Analysis - By End User
10.3.6. Asia Pacific Market Forecasts and Analysis - By Countries
10.3.6.1. South Korea
10.3.6.1.1. South Korea Market By Provider
10.3.6.1.2. South Korea Market by Application
10.3.6.1.3. South Korea Market by End User
10.3.6.2. China market
10.3.6.2.1. China Market By Provider
10.3.6.2.2. China Market by Application
10.3.6.2.3. China Market by End User
10.3.6.3. India market
10.3.6.3.1. India Market By Provider
10.3.6.3.2. India Market by Application
10.3.6.3.3. India Market by End User
10.3.6.4. Japan market
10.3.6.4.1. Japan Market By Provider
10.3.6.4.2. Japan Market by Application
10.3.6.4.3. Japan Market by End User
10.3.6.5. Australia market
10.3.6.5.1. Australia Market By Provider
10.3.6.5.2. Australia Market by Application
10.3.6.5.3. Australia Market by End User
10.3.6.6. Rest of APAC market
10.3.6.6.1. Rest of APAC Market By Provider
10.3.6.6.2. Rest of APAC Market by Application
10.3.6.6.3. Rest of APAC Market by End User
10.4. MIDDLE EAST AND AFRICA (MEA)
10.4.1. Middle East and Africa Blockchain in Fintech Market Overview
10.4.2. Middle East and Africa Blockchain in Fintech Market Forecasts and Analysis
10.4.3. Middle East and Africa Market Forecasts and Analysis - By Provider
10.4.4. Middle East and Africa Market Forecasts and Analysis - By Application
10.4.5. Middle East and Africa Market Forecasts and Analysis - By End User
10.4.6. Middle East and Africa Market Forecasts and Analysis - By Countries
10.4.6.1. South Africa market
10.4.6.1.1. South Africa Market By Provider
10.4.6.1.2. South Africa Market by Application
10.4.6.1.3. South Africa Market by End User
10.4.6.2. Saudi Arabia market
10.4.6.2.1. Saudi Arabia Market By Provider
10.4.6.2.2. Saudi Arabia Market by Application
10.4.6.2.3. Saudi Arabia Market by End User
10.4.6.3. UAE market
10.4.6.3.1. UAE Market By Provider
10.4.6.3.2. UAE Market by Application
10.4.6.3.3. UAE Market by End User
10.4.6.4. Rest of MEA market
10.4.6.4.1. Rest of MEA Market By Provider
10.4.6.4.2. Rest of MEA Market by Application
10.4.6.4.3. Rest of MEA Market by End User
10.5. SOUTH AMERICA (SAM)
10.5.1. South America Blockchain in Fintech Market Overview
10.5.2. South America Blockchain in Fintech Market Forecasts and Analysis
10.5.3. South America Market Forecasts and Analysis - By Provider
10.5.4. South America Market Forecasts and Analysis - By Application
10.5.5. South America Market Forecasts and Analysis - By End User
10.5.6. South America Market Forecasts and Analysis - By Countries
10.5.6.1. Brazil market
10.5.6.1.1. Brazil Market By Provider
10.5.6.1.2. Brazil Market by Application
10.5.6.1.3. Brazil Market by End User
10.5.6.2. Argentina market
10.5.6.2.1. Argentina Market By Provider
10.5.6.2.2. Argentina Market by Application
10.5.6.2.3. Argentina Market by End User
10.5.6.3. Rest of SAM market
10.5.6.3.1. Rest of SAM Market By Provider
10.5.6.3.2. Rest of SAM Market by Application
10.5.6.3.3. Rest of SAM Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS & ACQUISITIONS
11.2. MARKET INITIATIVES
11.3. NEW DEVELOPMENTS
12. BLOCKCHAIN IN FINTECH MARKET, KEY COMPANY PROFILES
12.1. AMAZON WEB SERVICES
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products & Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BITFURY
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products & Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BTL GROUP
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products & Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CHAIN INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products & Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DIGITAL ASSET HOLDINGS
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products & Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EARTHPORT
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products & Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. IBM CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products & Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. MICROSOFT CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products & Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. ORACLE CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products & Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. RIPPLE
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products & Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
- AWS
- IBM
- Microsoft
- Ripple
- Earthport
- Bitfury
- Circle
- Oracle
- Factom
- Abra.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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