Blockchain in Financial Services: Key Opportunities, Vendor Strategies & Market Forecasts 2021-2030

The latest Blockchain in Financial Services research offers a comprehensive and independent assessment of the use cases for blockchain technology within the financial services sphere; covering its capabilities, benefits, and barriers to further use. The report includes an extensive analysis of the current blockchain landscape, market drivers and future market stakeholders, as well as examining the key vendors operating in the space through Competitor Leaderboard. The report also provides a detailed overview of the key regions and markets globally; examining ongoing blockchain research and activity within them. The research focuses on 3 key use cases: digital identity verification, cross-border payments and insurance, and also discusses the potential for blockchain use in other areas of financial services, such as CBDC (Central Bank Digital Currency), trade finance, lending/credit scoring and domestic payments. The research suite includes industry benchmark forecasts for blockchain use in key areas including:

• Digital Identity Verification
• Banking
• eGovernment
• eCommerce payments
• Cross-border remittances
• B2B
• Consumer
• Insurance
• Motor Insurance
• Home Insurance
• Life Insurance
• Health Insurance

Key Statistics

• $11bn - Potential cost savings for banks in 2022
• $38bn - Potential cost savings for banks in 2027
• 240% - 2022 to 2027 cost savings growth
• 2021-2030 - Forecast period

Key Features

Sector Dynamics: A detailed analysis of the current status of blockchain within financial services and the further potential for this technology to be adopted in this area; highlighting the prospective drivers and challenges within several key segments, including:

• Digital Identity Verification
• Cross-border Payments
• Insurance
• Stablecoins
• CBDCs
• Trade Finance
• Lending/Credit Scoring
• Domestic Payments

Key Takeaways & Strategic Recommendations: Highlights key market takeaways around the benefits of blockchain deployment and barriers to its use in this sector, as well as providing recommendations for stakeholders to consider for successful implementation.

Benchmark Industry Forecasts: Analysis and a 10-year forecast suite for blockchain; providing forecasts for the deployment, value and achievable cost savings within the blockchain in financial services market for the following sectors:

• Digital Identity Verification
• Cross-border Payments
• Insurance

Data is split by our 8 key regions and 25 countries, including:

• Argentina
• Australia
• Brazil
• Canada
• China
• Colombia
• Denmark
• France
• Germany
• India
• Italy
• Japan
• Mexico
• Netherlands
• Norway
• Poland
• Portugal
• Saudi Arabia
• Singapore
• South Africa
• South Korea
• Spain
• Sweden
• UK
• US

Interviews with leading players across the blockchain value chain, including:

• Oracle
• R3

Competitor Leaderboard: Key player capability and capacity assessment for 15 vendors, together with our Competitor Leaderboard positioning matrix:

• Accenture
• Algorythmix
• Applicature
• Applied Blockchain
• Auxesis Group
• Blockchains
• Consensys
• Galileo Platforms
• IBM
• Infosys
• Oracle
• R3
• Ripple
• Spring Labs
• Velo Labs

Research Deliverables

• Market Data & Forecasting Report - The numbers tell you what's happening, but our written report details why, alongside the methodologies.
• Interactive Forecast Excel - Full 5-year forecasts for every available market metric provided in Excel format, with interactive 'What If' and scenario tools.
• harvest Online Data Platform - Access the very latest data in our exclusive online data platform, harvest. All the data from Excel, with frequent updates and a more user-friendly interface.
• Market Trends & Strategies Report - A comprehensive analysis of the current market landscape, alongside strategic recommendations.
• Competitor Leaderboard Report - Provides a visual representation of the competitive positioning of the leaders within the market.