Press release
Blockchain Technology in the Banking, Financial Services, and Insurance Sector is expected to grow at a CAGR of 41.16% from 2017 to 2025 to reach USD 4,760.4 million by 2025
GLOBAL MARKET ESTIMATES
The payments segment is projected to occupy a large share as it offers greater security and faster processing even for overseas transaction. Blockchain solutions eliminate the need of third parties for verifying transactions, thereby, increasing process efficiency and benefiting banks whose primary goal is faster & easy banking.
Browse 102 Market Data Tables and 45 Figures spread through 151 Pages and in-depth TOC on "Blockchain Technology in Banking, Financial Services, and Insurance (BFSI) Market - Forecasts to 2025" https://www.globalmarketestimates.com/blockchain-technology-bfsi-market
By Type (Public, Private, Hybrid)
By Application (Smart Contracts, Smart Assets, Clearing and Settlement, Payments, Digital Identity, Others)
By End-use (Banks, Insurance Providers, Other Financial Service Providers)
By Region (North America, Europe, Asia-Pacific, Central & South America, Middle East & Africa)
Company Market Share Analysis
End-Use Landscape; Vendor Landscape and Competitor Analysis
Key Market Insights
• The blockchain technology market is expected to find deep penetration in the BFSI industry
• A large number of banks distinguish themselves on the basis of faster transactions and ease of making & receiving payments
• The technology enables financial institutions to maintain transparency of dealing coupled with lowered administrative and infrastructure cost
• Companies are subjected to make investments in private or public blockchains on the basis of the amount of decentralization or sensitivity of information
• North America and Europe are anticipated to witness large investments in blockchain solutions for the banking and financial service sector
• The increasing number of industries and developing banking sector in the Asian and Middle Eastern region is also projected to augment demand for distributed ledger technology (DLT) solutions
• Companies involved in the development of blockchain solutions are taking up strategic initiatives such as partnerships and collaborations to test how the solution performs in the market
• Some of the companies developing blockchain technology include IBM Corporation, AWS, Microsoft Corporation, Chain, Inc., Coinbase, Digital Asset Holdings, Ripple, R3, Ledger Holdings Inc., and Olympus Labs among others
• In September 2017, Microsoft Corporation tied-up with Bank Hapoalim from Israel to develop a system that uses blockchain technology to manage digital bank guarantees
Browse the report @: https://www.globalmarketestimates.com/blockchain-technology-bfsi-market
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