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Digital transformation of the financial services industry is driving market growth

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Digital transformation of the financial services industry is driving market growth

DUBLIN, August 15, 2022 /PRNewswire/ — The “FinTech Blockchain – Global Market Trajectory and Analysis” report has been added to ResearchAndMarkets.com’s offer.

Global FinTech Blockchain Market to Reach US$8.7 billion by 2026
Blockchain technology is transforming operations in various industries, including the financial services sector. The combination of blockchain and fintech emerges as the most promising technology combination, 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 operated by companies that provide enhanced and automated financial services.

The growth of the global fintech blockchain market can be attributed to factors such as growing consumer demand to own and invest in bitcoin; growing need for cheaper and faster cross-border payment systems; greater compatibility with financial services industry ecosystems; and the growing need for comprehensive security mechanisms. The market is expected to witness rapid growth during the pandemic as various governments set up fintech blockchain facilities.

Amid COVID-19 Crisis, Global FinTech Blockchain Market Estimated at US$1.3 billion in 2022, is expected to reach a revised size of US$8.7 billion by 2026, growing at a CAGR of 44.8% over the analysis period.

The US market is estimated at $451.6 million in 2022, when China is expected to reach $874 million by 2026
The FinTech Blockchain Market in the United States is estimated at US$451.6 million in 2022. The country currently accounts for a 32.8% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$874 million in 2026 with a CAGR of 52.6% over the analysis period.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Digital transformation of the financial services industry is driving market growth
  • Main technology investments in the BFSI sector: 2021
  • Rapidly Changing FinTech Landscape Supports Blockchain Adoption
  • Blockchain promises to improve transparency, security, immutability and accessibility of systems and processes for financial services
  • Transformative Impact of Blockchain Technology in Banking
  • Banks’ post-pandemic focus on digital transformation in favor of blockchain adoption: % of organizations citing priority for 2020
  • Blockchain will play a critical role in facilitating financial inclusion for the unbanked
  • Large unbanked population and focus on their financial inclusion to drive blockchain deployments
  • Online Banking Fraud Could Become History With Blockchain
  • With increasing losses from online banking fraud, blockchain has the potential to provide superior security benefits: Cumulative global online fraud (in billions of US 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 huge SME funding gap to drive blockchain adoption
  • As FinTech Disrupts the Insurance Industry, Blockchain Technology Is Poised for Growth
  • Blockchain Applications in the Insurance Industry
  • Select startups that are transforming the insurance industry
  • Impact of the COVID-19 pandemic: financial challenges and digital opportunities for the insurance industry
  • The pandemic is accelerating the digitization of insurance, providing opportunities for blockchain adoption
  • As the underlying technology of digital currencies, the expansion of the cryptocurrency market presents an opportunity for blockchain FinTech
  • After the big turnaround of 2020, the year 2021 continues to promise growth for the cryptocurrency market
  • As the global economy struggles amid the COVID-19 pandemic, the booming cryptocurrency surprises everyone
  • Notable developments shaping post-pandemic trends in the cryptocurrency market
  • Crypto pricing continues to ride a roller coaster
  • Central banks are entering the digital currency space
  • As a New Breed of Blockchain-Based Cryptocurrencies, Stablecoins Continue to Go Strong
  • Institutional investors continue to pump 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: The Most Promising Use Case of Distributed Ledger Technology
  • Growing Role of Blockchain in Cross-Border Payments and Money Transfers
  • Global flow of cross-border payments (in billions of US dollars) for 2019, 2021 and 2023
  • Global cross-border payments market breakdown by use case (in %) for 2020
  • Blockchain for Fraud Prevention: A Powerful New Weapon in the Making
  • Capital Markets: Blockchain to be solved with data duplication, reconciliation errors and settlement delays
  • Key Challenges and Concerns Surrounding Blockchain Adoption

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

Companies cited

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

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

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Research and Markets
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SOURCE Research and Markets

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