FinTech Blockchain Market to Reach US$ 6228.2 Million Growing at CAGR 75.9% to 2023 | AWS, IBM, Microsoft, Ripple, Chain, Earthport, Bitfury and Others
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The Global FinTech Blockchain Market size is expected to grow from US$ 370.3 Million in 2018 to US$ 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 crypto currencies 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.
#Complete report on FinTech Blockchain Market spread across 141 pages, profiling 25 companies and supported with tables and figures. Access Research at https://www.reportsnreports.com/purchase.aspx?name=1535974
“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.
“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 major objective of the report is to define, describe, and forecast the global FinTech blockchain market by provider, application, organization size, vertical, and region. The report provides detailed information related to the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of themarket. The report aims to strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
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#Target Audience for FinTech Blockchain Market:
• Application developers
• Services providers and distributors
• Blockchain application builders
• Independent Software Vendors (ISVs)
#Top Key Players in the “FinTech Blockchain Market” include are 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)
#Competitive Landscape of FinTech Blockchain Market:
2 Prominent Players in the Global FinTech Blockchain Market
3 Competitive Situations and Trends
3.1 Partnerships, Agreements, and Collaborations
3.2 New Product Launches/Product Upgradations
3.4 Venture Funding
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