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FinTech Blockchain Market by Provider, Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contract, Identity Management, and Compliance Management/KYC), Organization Size, Vertical, and Region - Global Forecast to 2023

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    Report

  • 142 Pages
  • June 2018
  • Region: Global
  • Markets and Markets
  • ID: 4575978

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.

The global FinTech blockchain market size is expected to grow from USD 370.3 million in 2018 to USD 6,228.2 million by 2023, at a Compound Annual Growth Rate (CAGR) of 75.9% during the forecast period. The demand for the distributed ledger technology, reduced total cost of ownership, the rising cryptocurrencies market cap and initial coin offerings, transparency and immutability, and faster transactions are said to fuel the market growth. The blockchain technology can set rules for transactions and enables smart contracts; real-time settlements; triple-entry accounting; and consensus to create ownership of virtual currencies and securities, leading to higher compatibility with the financial services industry ecosystem. However, uncertain regulatory standards and frameworks, and lack of blockchain applications and use cases would restrain the market growth during the forecast period. 

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

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the FinTech Blockchain Market
4.2 Market By Provider
4.3 Market By Application
4.4 Market By Organization Size
4.5 Market By Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Compatibility With Financial Services Industry Ecosystem
5.2.1.2 Rising Cryptocurrency Market Cap and Ico
5.2.1.3 Faster Transactions
5.2.1.4 Reduced Tco
5.2.2 Restraints
5.2.2.1 Uncertain Regulatory Standards and Frameworks
5.2.2.2 Lack of Blockchain Applications and Use Cases
5.2.3 Opportunities
5.2.3.1 High Adoption of Blockchain Technology for Payments, Smart Contracts, and Digital Identities
5.2.3.2 New Breed of Programmable Blockchain Platforms
5.2.4 Challenges
5.2.4.1 Security, Privacy, and Control Issues
5.2.4.2 Scalability and Latency Challenges
5.3 Industry Trends
5.3.1 Types of Blockchain Technology
5.3.1.1 Public Blockchain
5.3.1.2 Private Blockchain
5.3.2 Blockchain Associations, Regulatory and Policy Makers, and Consortiums
5.3.2.1 CLS Group
5.3.2.2 R3cev Blockchain Consortium
5.3.2.3 Hyperledger
5.3.2.4 Global Payments Steering Group (GPSG)
5.3.2.5 Financial Blockchain Shenzhen Consortium (FBSC)
5.3.2.6 Cu Ledger
5.3.2.7 Blockchain Collaborative Consortium (BCCC)
5.3.2.8 Wall Street Blockchain Alliance (WSBA)
5.3.2.9 International Monetary Fund (IMF)
5.3.2.10 New York Department of Financial Services (NYDFS)
5.3.2.11 Financial Conduct Authority (FCA)
5.3.3 Blockchain in Banking, Financial Services, and Insurance
5.3.3.1 Examples of FinTech Blockchain Across Financial Sectors
5.4 Market Evolution
6 FinTech Blockchain Market, By Provider
6.1 Introduction
6.2 Application and Solution Providers
6.3 Middleware Providers
6.4 Infrastructure and Protocol Providers
7 Market By Application
7.1 Introduction
7.2 Payments, Clearing, and Settlement
7.3 Exchanges and Remittance
7.4 Smart Contract
7.5 Identity Management
7.6 Compliance Management/ KYC
7.7 Others
8 FinTech Blockchain Market, By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Market By Vertical
9.1 Introduction
9.2 Banking
9.3 Non-Banking Financial Services
9.4 Insurance
10 FinTech Blockchain Market, By Region
10.1 Introduction
10.2 North America
10.2.1 By Provider
10.2.2 By Application
10.2.3 By Organization Size
10.2.4 By Vertical
10.2.5 By Country
10.2.5.1 United States
10.2.5.2 Canada
10.3 Europe
10.3.1 By Provider
10.3.2 By Application
10.3.3 By Organization Size
10.3.4 By Vertical
10.3.5 By Country
10.3.5.1 United Kingdom
10.3.5.2 Germany
10.3.5.3 Rest of Europe
10.4 APAC
10.4.1 By Provider
10.4.2 By Application
10.4.3 By Organization Size
10.4.4 By Vertical
10.4.5 By Country
10.4.5.1 China
10.4.5.2 India
10.4.5.3 Australia and New Zealand
10.4.5.4 Rest of APAC
10.5 Latin America
10.5.1 By Provider
10.5.2 By Application
10.5.3 By Organization Size
10.5.4 By Vertical
10.5.5 By Country
10.5.5.1 Mexico
10.5.5.2 Brazil
10.5.5.3 Rest of Latin America
10.6 Middle East and Africa
10.6.1 By Provider
10.6.2 By Application
10.6.3 By Organization Size
10.6.4 By Vertical
10.6.5 By Country
10.6.5.1 Middle East
10.6.5.2 Africa
11 Competitive Landscape
11.1 Overview
11.2 Prominent Players in the Global FinTech Blockchain Market
11.3 Competitive Situations and Trends
11.3.1 Partnerships, Agreements, and Collaborations
11.3.2 New Product Launches/Product Upgradations
11.3.3 Expansions
11.3.4 Venture Funding
12 Company Profiles
12.1 AWS
12.2 IBM
12.3 Microsoft
12.4 Ripple
12.5 Chain
12.6 Earthport
12.7 Bitfury
12.8 BTL Group
12.9 Oracle
12.10 Digital Asset Holdings
12.11 Circle
12.12 Factom
12.13 Alphapoint
12.14 Coinbase
12.15 Abra
12.16 Auxesis Group
12.17 Bitpay
12.18 Blockcypher
12.19 Applied Blockchain
12.20 Recordskeeper
12.21 Symboint
12.22 Guardtime
12.23 Cambridge Blockchain
12.24 Tradle
12.25 Blockchain Advisory Mauritius Foundation
13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customization
13.6 Related Reports
13.7 Author Details
List of Tables
Table 1 FinTech Blockchain Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 2 Market Size By Provider, 2016–2023 (USD Million)
Table 3 Application and Solution Providers: Market Size By Region, 2016–2023 (USD Million)
Table 4 Middleware Providers: Market Size By Region, 2016–2023 (USD Million)
Table 5 Infrastructure and Protocol Providers: Market Size By Region, 2016–2023 (USD Million)
Table 6 FinTech Blockchain Market Size, By Application, 2016–2023 (USD Million)
Table 7 Payments, Clearing, and Settlement: Market Size By Region, 2016–2023 (USD Million)
Table 8 Exchanges and Remittance: Market Size By Region, 2016–2023 (USD Million)
Table 9 Smart Contract: Market Size By Region, 2016–2023 (USD Million)
Table 10 Identity Management: Market Size By Region, 2016–2023 (USD Million)
Table 11 Compliance Management/KYC: Market Size By Region, 2016–2023 (USD Million)
Table 12 Others: Market Size By Region, 2016–2023 (USD Million)
Table 13 FinTech Blockchain Market Size, By Organization Size, 2016–2023 (USD Million)
Table 14 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 15 Small Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 16 FinTech Blockchain Market Size, By Vertical, 2016–2023 (USD Million)
Table 17 Banking: Market Size By Region, 2016–2023 (USD Million)
Table 18 Non-Banking Financial Services: Market Size By Region, 2016–2023 (USD Million)
Table 19 Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 20 FinTech Blockchain Market Size, By Region, 2016–2023 (USD Million)
Table 21 North America: Market Size By Provider, 2016–2023 (USD Million)
Table 22 North America: Market Size By Application, 2016–2023 (USD Million)
Table 23 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 24 North America: Market Size By Vertical, 2016–2023 (USD Million)
Table 25 North America: Market Size By Country, 2016–2023 (USD Million)
Table 26 Europe: Market Size By Provider, 2016–2023 (USD Million)
Table 27 Europe: Market Size By Application, 2016–2023 (USD Million)
Table 28 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 29 Europe: Market Size By Vertical, 2016–2023 (USD Million)
Table 30 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 31 Asia Pacific: FinTech Blockchain Market Size, By Provider, 2016–2023 (USD Million)
Table 32 APAC: Market Size By Application, 2016–2023 (USD Million)
Table 33 APAC: Market Size By Organization Size, 2016–2023 (USD Million)
Table 34 APAC: Market Size By Vertical, 2016–2023 (USD Million)
Table 35 APAC: Market Size By Country, 2016–2023 (USD Million)
Table 36 Latin America: Market Size By Provider, 2016–2023 (USD Million)
Table 37 Latin America: Market Size By Application, 2016–2023 (USD Million)
Table 38 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 39 Latin America: Market Size By Vertical, 2016–2023 (USD Million)
Table 40 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 41 Middle East and Africa: FinTech Blockchain Market Size, By Provider, 2016–2023 (USD Million)
Table 42 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 43 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 44 Middle East and Africa: Market Size By Vertical, 2016–2023 (USD Million)
Table 45 Middle East and Africa: Market Size By Country, 2016–2023 (USD Million)
Table 46 Partnerships, Agreements, and Collaborations, 2017–2018
Table 47 New Product Launches and Product Upgradations, 2016–2018
Table 48 Business Expansions, 2015–2016
Table 49 Venture Funding, 2015–2018
List of Figures
Figure 1 FinTech Blockchain Market Segmentation
Figure 2 Regional Scope
Figure 3 Market Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 FinTech Blockchain Market: Assumption
Figure 9 Payments, Clearing, and Settlement Application, and North American Region are Estimated to Have the Largest Market Shares in 2018
Figure 10 FinTech Blockchain Market Share, By Provider, 2018
Figure 11 North America is Estimated to Hold the Largest Market Share in 2018
Figure 12 High Adoption of the Blockchain Technology in Various Application Areas is Expected to Provide Significant Growth Opportunities in the Market During the Forecast Period
Figure 13 Application and Solution Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Compliance Management/KYC Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Large Enterprises Segment is Expected to Have the Larger Market Share During the Forecast Period
Figure 16 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Market Drivers, Restraints, Opportunities,And Challenges
Figure 18 Evolution of the FinTech Blockchain Market
Figure 19 Application and Solution Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Compliance Management/KYC Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Small and Medium-Sized Enterprises Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 22 Insurance Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America is Expected to Contribute the Largest Revenue During the Forecast Period
Figure 24 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 APAC: Market Snapshot
Figure 27 Key Developments By the Leading Players in the FinTech Blockchain Market
Figure 28 Market Evaluation Framework
Figure 29 AWS: Company Snapshot
Figure 30 IBM: Company Snapshot
Figure 31 Microsoft: Company Snapshot
Figure 32 Earthport: Company Snapshot
Figure 33 BTL Group: Company Snapshot
Figure 34 Oracle: Company Snapshot

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