Promising Growth for the FinTech Blockchain Market Due to Rising Cryptocurrency Market Cap
Cryptocurrency is a form of virtual currency which works as a medium of exchange. A complex algorithm of cryptography is incorporated to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Cryptocurrencies are finite entries in database that cannot be changed without fulfilling specific obligations. Cryptocurrencies transfer funds directly between two parties in a transaction, without the need of trusted third party such as a bank or credit card company. These transfers are facilitated through the use of public keys and private keys for security purposes. Bitcoin, Ethereum, Ripple, Litecoin, Dash, NEO, NEM, Monero, IOTA, and Qtum are the most common cryptocurrencies. Moreover, Bitcoin (BTC) rose 4.89% during the weekend period beginning April 2019, a move that added another $233 to its price tag. Also, the cryptocurrency is changing hands at around $5,248 according to CoinDesk’s Bitcoin Price Index. Thereby, increasing cryptocurrency market cap is expected to boost the fintech blockchain market significantly in the next few years.
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Key Topics Covered in This Report:
2 Research Methodology
3 Executive Summary
4 Industry Trends
5 Market Insights
6 FinTech Blockchain Market, by Provider
7 FinTech Blockchain Market, by End-user
8 FinTech Blockchain Market, by Organization Size
9 FinTech Blockchain Market, by Application
10 FinTech Blockchain Market, by Geography
11 Competitive Landscape
12 Company Profiles
The fintech blockchain market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025 – by provider, end-use sectors, organization size, application, and regions. The research study also incorporates key industry competitors and analyzes the market at regional as well as country level.
Based on application, the fintech blockchain market is segmented into payments, clearing, and settlement; exchanges and remittance; smart contrac; identity management; compliance management/ KYC; and others. Payments, clearing, and settlement accounted for the largest share of fintech blockchain market in 2018. The factors such as growing need to minimize the risk, increase the efficiency, and ensure clarity in payment systems are likely to propel the growth of this market segment during the forecast period. Considerable cost savings with respect to the reconciliation and settlement can be done by financial institutions and banks by integrating this technology which provides real-time payments against assets with an immutable state and digital identity.
Based on organization size, the fintech blockchain market is segmented into large enterprises and small and medium-sized enterprises. Small and medium-sized enterprises segment is expected to witness rapid growth during the forecast period, owing to easy availability and scalability of cloud-based deployments.
Asia-Pacific: The Fastest Growing Regional Market
North America commanded the largest share of the global fintech blockchain market in 2018, followed by Europe, Asia-Pacific, Middle East & Africa, and Latin America, as North America is the most advanced region in technology adoption and infrastructure. However, Asia-Pacific is the fastest growing regional market due to the growing e-commerce industry coupled with the trend of cryptocurrency and growing financial sector; government support through investments and grants; and growing investments from regional vendors in research and development activities to provide technologically advanced blockchain solutions and the adoption of venture funding.
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Key Players of the FinTech Blockchain Market
The report includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). For instance, in June 2018, Maltese company Ledger Projects has signed a partnership with the Bitfury Group to build innovative blockchain solutions in Malta.
The major players operating in the global fintech blockchain market are Accenture plc (Ireland), AlphaPoint Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Auxesis Group (India), Bitfury USA, Inc. (U.S.), BTL Group (Canada), Cambridge Blockchain, LLC (U.S.), Circle Internet Financial Limited (U.S.), Coinbase, Inc. (U.S.), Digital Asset Holdings LLC (U.S.), Earthport Plc (U.K), Factom, Inc. (U.S.), GuardTime AS (Estonia), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), RecordesKeeper (Gibraltar), Ripple Lab Inc. (U.S.), Symbiont.io, Inc. (U.S.), and Tradle, Inc. (U.K).
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