Digital transformation of the financial sector is driving market growth

by James · August 15, 2022

DUBLIN, 15 August 2022 /PRNewswire/ — The “FinTech Blockchain – Global Market Trajectory & Analytics” report has been added ResearchAndMarkets.com’s Offering.

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Global FinTech Blockchain Market to Reach 8.7 billion dollars by the year 2026
Blockchain technology is transforming business in various industries, including the financial sector. The combination of blockchain and fintech emerges as the most promising technology mix, which has the potential to transform the fintech industry. Fintech blockchain, the financial technology application of blockchain technology, offers solutions, software, among various fintech blockchain services leveraged by businesses that provide enhanced and automated financial services.

Growth in the global fintech blockchain market can be attributed to factors such as increasing consumer demand to own and invest in bitcoin; growing need for cheaper, faster, cross-border payment systems; greater compatibility with financial industry ecosystems; and the escalating demand for comprehensive security mechanisms. The market is likely to register rapid growth during the pandemic as various governments establish fintech blockchain facilities.

Amidst the COVID-19 crisis, the global market for FinTech Blockchain is estimated to 1.3 billion dollars in the year 2022, is estimated to reach a revised size of 8.7 billion dollars by 2026, growing at a CAGR of 44.8% over the analysis period.

The US market is estimated at 451.6 million dollars in 2022, while China is expected to reach 874 million dollars by 2026
The FinTech Blockchain market in the US is estimated at 451.6 million dollars in the year 2022. The country currently accounts for a share of 32.8% in the global market. Chinathe world’s second largest economy, is predicted to reach an estimated market size of 874 million dollars in the year 2026 after a CAGR of 52.6% throughout the analysis period.

Key topics covered:

I. METHODOLOGY

II. BRIEF SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECTED PLAYERS

3. MARKET TRENDS AND DRIVERS

Digital transformation of the financial sector is driving market growth
Top Technology Investments in BFSI Sector: 2021
Rapidly Changing FinTech Landscape Support Blockchain Adoption
Blockchain promises to improve the transparency, security, immutability and availability of financial services systems and processes
Transformative impact of blockchain technology in the banking industry
Post-pandemic focus by banks on digital transformation in favor of blockchain adoption: % of organizations citing priority for 2020
Blockchain will play an important role in facilitating financial inclusion of the unbanked
The large unbanked population and focus on their financial inclusion to stimulate blockchain implementations
Online banking fraud can become history with blockchain
With online banking fraud losses on the rise, Blockchain has the potential to offer superior security benefits: Cumulative global online fraud (in billions of dollars) between 2020 and 2024 by region
Blockchain-based payment processing: An active area of interest for banks
Blockchain Adoption to Benefit from the Growing Importance of Decentralized Finance (DeFi) in Developing Economies
Decentralized Finance (DeFi) to Bridge the Huge Financing Gap for SMEs to Increase Blockchain Adoption
As FinTech disrupts the insurance sector, blockchain technology is poised for growth
Applications of blockchain in the insurance industry
Select Startups Transforming the Insurance Industry
COVID-19 pandemic impact: financial challenges and digital opportunities for the insurance industry
Pandemic accelerates digitization of insurance, providing opportunities for blockchain adoption
As the underlying technology of digital currencies, expanding cryptocurrency market provides opportunity for FinTech Blockchain
After the major turnaround of 2020, the year 2021 continues to promise growth for the cryptocurrency market
As the world economy struggles amid the COVID-19 pandemic, booming cryptocurrency is surprising one and all
Notable developments shaping post-pandemic trends in the cryptocurrency market
Crypto pricing continues to rollercoaster
Central banks are moving into the digital currency space
As the newer breed of Blockchain-based cryptocurrencies, Stablecoins continue to go from strength to strength
Institutional investors continue to pour funds into the cryptocurrency market
With cryptocurrencies outperforming major asset classes, institutional interest continues to rise: % growth of cryptocurrencies vs other asset classes for 2020
Smart Contracts: Most Promising Use Case of Distributed Ledger Technology
Blockchain’s growing role in cross-border payments and money transfers
Global cross-border payment flows (in billion USD) for 2019, 2021 and 2023
Global cross-border payment market distribution by use case (in %) for 2020
Blockchain for Fraud Prevention: A New & Potent Weapon in the Making
Capital markets: blockchain to solve data duplication, reconciliation errors and settlement delays
Major challenges and concerns surrounding blockchain adoption

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Companies mentioned

Accenture PLC
Amazon Web Services, Inc.
Bitfury Group Limited
Chain, Inc.
Digital Asset Holdings, LLC
Huawei Technologies Co. Ltd.
IBM Corporation
Infosys Limited
Microsoft Corporation
Oracle Corporation
RecordsKeeper
Ripple Labs Inc.
SAP SE
Symbiont
Tata Consultancy Services Limited

For more information on this report, visit https://www.researchandmarkets.com/r/9vhejv

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