Zion Market Research has published a new report titled “FinTech Blockchain Market by Provider (Middleware Providers, Application and Solution Providers, and Infrastructure and Protocol Providers), by Application (Exchanges and Remittance, Smart Contract, Payments, Clearing, and Settlement, Compliance Management/KYC, Identity Management, and Others), by Organization Size (Small- and Medium-Sized Enterprises and Large Enterprises), and by Vertical (Banking, Non-Banking Financial Services, and Insurance): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”.
According to the report, the global FinTech blockchain market was valued at USD 204 million in 2017 and is expected to reach around USD 8,311 million by 2024, growing at a CAGR of around 69.72% between 2018 and 2024.
FinTech is considered as a promising solution that offers accurate solutions to the financial institutions in terms of mobile payments, crowdfunding, and distributed ledger, such as blockchain. It reduces the operational costs making it convenient for consumers and organizations. Technology plays a major role in the finance industry. The finance sector is the first to adopt the blockchain technology to deliver financial services that were previously delivered by traditional means. The use of distributed ledger technology will benefit financial services providers by lowering the cost of cross-border payments, compliance, and securities trading. Blockchain is an advanced technology that enables litecoin, bitcoin, dogecoin, and other virtual currencies to be open and secure. Blockchain is a future-proof technology that can be used by private organizations and individuals to build private financial networks. Large organizations could use it to build financial systems internally for employees or external vendors.
Browse through 55 Tables & 39 Figures spread over 167 Pages and in-depth TOC on “Global FinTech Blockchain Market: Industry Size, Share, Technology, Applications, Analysis and Forecast, 2017 – 2024”.
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The report covers a forecast and an analysis of the FinTech blockchain market on a global and regional level. The study provides historical data for 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the FinTech blockchain market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the FinTech blockchain market on a global level.
This report offers a comprehensive coverage of the global FinTech blockchain market along with market trends, drivers, and restraints of the FinTech blockchain market. This report included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces Model for the FinTech blockchain market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases and the secondary and primary research team of industry experts.
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The factors that are likely to drive the FinTech blockchain market in the upcoming years is the adoption of technologically advanced blockchain solutions in investment banks, commercial banks, and insurance companies, the increase in the cryptocurrency market cap, the rise in the initial coin offerings, and the high demand for distributed ledger technology. In addition, due to the advanced blockchain technology solutions, the transactions have become faster and secure further fueling the FinTech blockchain market globally. It also eliminates the need for intermediaries and reduces the time for payers and providers and administration costs. However, the uncertain regulatory standards and frameworks and the lack of blockchain applications and use cases might limit this market. Nevertheless, the adoption of blockchain technology for smart contracts, payments, and digital identities are likely to create business opportunities in the market.
By provider, the market is fragmented into middleware providers, application and solution providers, and infrastructure and protocol providers. By application, the market is fragmented into payments, clearing, and settlement, exchanges and remittance, identity management, smart contract, compliance management/KYC, and others. The payment, clearing, and settlement segment hold the highest share in the market due to the usage of blockchain technology applications in the payment industry to minimize the risk, increase the efficiency, and ensure clarity in payment systems. By organization size, the FinTech blockchain market is segmented into small- and medium-sized enterprises and large enterprises. By vertical, the FinTech blockchain market is segmented into banking, non-banking financial services, and insurance.
Browse the full “FinTech Blockchain Market by Provider (Middleware Providers, Application and Solution Providers, and Infrastructure and Protocol Providers), by Application (Exchanges and Remittance, Smart Contract, Payments, Clearing, and Settlement, Compliance Management/KYC, Identity Management, and Others), by Organization Size (Small- and Medium-Sized Enterprises and Large Enterprises), and by Vertical (Banking, Non-Banking Financial Services, and Insurance): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024” Report At https://www.zionmarketresearch.com/report/fintech-blockchain-market
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds the largest market share, as it is among the most advanced regions in terms of technology adoption and infrastructure. The Asia Pacific is likely to witness the highest growth rate over the forecast time period, due to the rise in the investments in the blockchain technology solutions to make a change in the financial sector.
Some of the key players profiled in the global FinTech blockchain market are AWS, Microsoft, IBM, Ripple, Earthport, Chain, Bitfury, Oracle, BTL Group, RecordsKeeper, Applied Blockchain, Symboint, Factom, Alphapoint, Abra, Coinbase, and Auxesis Group.
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This report segments the global FinTech blockchain market are as follows:
Global FinTech Blockchain Market: Provider Segment Analysis
- Application and Solution Providers
- Middleware Providers
- Infrastructure and Protocol Providers
Global FinTech Blockchain Market: Application Analysis
- Payments, Clearing, and Settlement
- Exchanges and Remittance
- Smart Contract
- Identity Management
- Compliance Management/KYC
Global FinTech Blockchain Market: Organization Size Segment Analysis
- Large Enterprises
- Small and Medium-Sized Enterprises
Global FinTech Blockchain Market: Vertical Segment Analysis
- Non-Banking Financial Services
Global FinTech Blockchain Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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