Central Bank Digital Currency (CBDC) and Stablecoins Market Scope 2031
The central bank digital currency (CBDC) and stablecoins market is projected at a CAGR of XX% from 2023 to 2031. Adoption will be driven by governments leveraging Central Bank Digital Currency (CBDC) and Stablecoins to drive financial inclusion and surge their control over how digital payments are made. CBDCs will enhance access to digital payments, predominantly in developing economies, where mobile penetration is substantially higher than banking penetration.
Central Bank Digital Currency (CBDC) and Stablecoins Market Analysis
While cross-border payments presently have slow transaction speeds and high costs, this area is not the emphasis of CBDC development. As CBDC acceptance will differ country-specific, it will be incumbent on cross-border payment networks to link schemes together, allowing the extensive payments industry to benefit from CBDCs.
Central Bank Digital Currency (CBDC) and Stablecoins Market Overview
- A central bank digital currency (CBDC) is a digital version of a country's fiat currency or central bank money. Fiat money is not tied to a physical commodity such as silver or gold. The role of a central bank is to support financial services, issue currency, and set monetary policy.
Central Bank Digital Currency (CBDC) are digital currencies issued by central banks. Their value is related to the issuing country's authorized currency.
REGIONAL FRAMEWORK
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MARKET PLAYERS
MARKET PLAYERS
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Central Bank Digital Currency (CBDC) and Stablecoins Market Driver and Opportunities
Increasing Awareness About Stablecoins to Drive the Central Bank Digital Currency (CBDC) and Stablecoins Market
- Stablecoins aim to address shortcomings of cryptocurrencies by pegging their value to a unit of the underlying asset, generally issued on faster blockchains, and backing the coins partially or wholly with state-issued tender, commodities such as precious metals, or highly liquid reserves. With the swift increase in circulation of stablecoins over the past few years, central banks have marched up efforts to explore their stable digital currencies. This, in turn, is expected to boost the market growth during the forecast period.
Increasing Government Initiatives to Create Lucrative Market Opportunities
Numerous public statements indicate that central banks envision Central Bank Digital Currency (CBDC) as more than simply a digital-native version of traditional notes and coins. For instance, in 2024, The Bank of England and the Financial Conduct Authority are setting out proposals that will bring stablecoins — a type of digital token designed to track the price of hard currencies — into the real economy as a payment option for goods and services.
Central Bank Digital Currency (CBDC) and Stablecoins Market Report Segmentation Analysis
The key segment that contributed to the derivation of the central bank digital currency (CBDC) and stablecoins market analysis is type.
- Based on type, the market is divided into cross-border B2B transactions, cross-border consumer transactions, domestic B2B transactions, and domestic consumer transactions.
- Since Central Bank Digital Currency (CBDC) are issued by central banks, they will be closely targeted to domestic payment challenges primarily, with cross-border payments coming later as systems become well-known and links are made between CBDCs used by individual countries.
Central Bank Digital Currency (CBDC) and Stablecoins Market Share Analysis By Geography
- The scope of the central bank digital currency (CBDC) and stablecoins market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is expected to hold a significant share in the central bank digital currency (CBDC) and stablecoins market. The growth is attributed to the supportive government initiatives and the presence of key market players in the region.
Central Bank Digital Currency (CBDC) and Stablecoins Market Report Scope
Central Bank Digital Currency (CBDC) and Stablecoins Market Report Coverage & Deliverables
The Central Bank digital currency (CBDC) and stablecoins market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Central Bank Digital Currency (CBDC) and Stablecoins Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels 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, and recent developments.
- Detailed company profiles.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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Frequently Asked Questions
Asia Pacific is anticipated to grow with a high growth rate during the forecast period.
The major players holding majority shares are Bitt, Consensys, FIS, Giesecke+Devrient, and HashCash Consultants.
Increasing government initiatives in the global central bank digital currency (CBDC) and stablecoins market.
Increasing awareness about stablecoins to drive the global central bank digital currency (CBDC) and stablecoins market.
The global central bank digital currency (CBDC) and stablecoins market was estimated to grow at a CAGR of XX% during 2023 - 2031.
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.