High compatibility with financial services ecosystems and the rising cryptocurrencies market cap and ICO and faster transaction are expected to boost the growth of FinTech blockchain market.
Payments, clearing, and settlement segment is expected to account for the largest market size during the forecast period.
The blockchain is a peer-to-peer technology with nodes supporting the ledger and the mining process and enables connectivity, which significantly transforms the payment industry. The integration of this technology provides real-time payments against assets with an immutable state and digital identity, resulting in substantial cost savings with respect to the reconciliation and settlement for several financial institutions and banks. In addition, blockchain automates the payment processing activities, eliminates the need for intermediaries, and reduces the administrative costs and time for providers and payers. All these factors are expected to fuel the overall growth of this segment in the FinTech blockchain market.
APAC is projected to show the highest growth rate during the forecast period.
The FinTech blockchain market growth in Asia Pacific (APAC) region is gaining momentum and is expected to show the highest growth rate in the coming years. Vendors in the region have been adopting venture funding strategies and are investing in R&D activities to provide technologically advanced blockchain solutions. In addition, major economies in APAC, such as China, India, Australia, and New Zealand, are investing into blockchain-based solutions to innovate the traditional business processes and enhance the performance. The region has increased the adoption of such solutions across banking, as well as non-banking financial services.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.
The break-up of the profiles of the primary participants is given below:
- By Company: Tier 1: 15%, Tier 2: 32%, and Tier 3: 53%
- By Designation: C-level: 38%, Director level: 30%, and Others: 32%
- By Region: North America: 38%, Europe: 32%, APAC: 20%, and RoW: 10%
The following key vendors are profiled in the report:
- AWS (US)
- IBM (US)
- Microsoft (US)
- Ripple (US)
- Chain (US)
- Earthport (UK)
- Bitfury (US)
- BTL Group (Canada)
- Oracle (US)
- Digital Asset Holdings (US)
- Circle (Ireland)
- Factom (US)
- AlphaPoint (US)
- Coinbase (US)
- Abra (US)
- Auxesis Group (India)
- BitPay (US)
- BlockCypher (US)
- Applied Blockchain (UK)
- RecordesKeeper (Spain)
- Symbiont (US)
- Guardtime (Estonia)
- Cambridge Blockchain (US)
- Tradle (US)
- Blockchain Advisory Mauritius Foundation (Mauritius)
Research Coverage
The report segments the FinTech blockchain market based on provider into application and solution providers, middleware providers, and infrastructure and protocols providers. Based on organization size, the market has been segmented into large enterprises and Small and Medium-sized Enterprises (SMEs). Furthermore, verticals are categorized into banking, non-banking financial services, and insurance. On the basis of application, the market is segmented into payments, clearing, and settlement; exchanges and remittance; smart contracts; identity management, and compliance management/Know Your Customer (KYC). The regions have been segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
The report would help leaders/new entrants in this market in the following ways:
- This report segments the FinTech blockchain market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different industry verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders better understand competitors and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions.
Table of Contents
Companies Mentioned
- AWS
- IBM
- Microsoft
- Ripple
- Chain
- Earthport
- Bitfury
- BTL Group
- Oracle
- Digital Asset Holdings
- Circle
- Factom
- Alphapoint
- Coinbase
- Abra
- Auxesis Group
- Bitpay
- Blockcypher
- Applied Blockchain
- Recordskeeper
- Symboint
- Guardtime
- Cambridge Blockchain
- Tradle
- Blockchain Advisory Mauritius Foundation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 142 |
Published | June 2018 |
Forecast Period | 2018 - 2023 |
Estimated Market Value ( USD | $ 370.3 million |
Forecasted Market Value ( USD | $ 6228.2 million |
Compound Annual Growth Rate | 75.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |