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Global Decentralized Finance Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033 | Major Players Are Compound Labs Inc., MakerDAO, Aave Companies, Uniswap Labs, SushiSwap,.
Decentralized Finance Market
The Business Research Company offers in-depth market insights through Decentralized Finance Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The decentralized finance market size has grown exponentially in recent years. It will grow from $21.21 billion in 2023 to $30.17 billion in 2024 at a compound annual growth rate (CAGR) of 42.2%. The growth in the historic period can be attributed to increased cryptocurrency adoption, liquidity mining and yield farming, global access to financial services, smart contract platforms, tokenization of assets.
The decentralized finance market size is expected to see exponential growth in the next few years. It will grow to $123.61 billion in 2028 at a compound annual growth rate (CAGR) of 42.3%. The growth in the forecast period can be attributed to scalability solutions, institutional participation, regulatory clarity, user-friendly interfaces, decentralized identity solutions, insurance and risk mitigation. Major trends in the forecast period include cross-chain integration, nfts in defi, layer 2 scaling solutions, exchanges (dexs) dominance, cross-chain integration.
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Market Segmentation:
The decentralized finance market covered in this report is segmented -
1) By Component: Blockchain Technology, Decentralized Applications (dApps), Smart Contracts
2) By Application: Assets Tokenization, Compliance And Identity, Marketplaces And Liquidity, Payments, Data And Analytics, Decentralized Exchanges, Prediction Industry, Stablecoins, Other Applications
Major Driver - Rise In E-Sports Industry To Drive Market Growth
The rise in e-sports and gaming is expected to propel the growth of the decentralized finance (DeFi) market going forward. The term 'rise' in the context of e-sports and gaming refers to the increasing popularity, growth, and prominence of competitive video gaming (esports) as well as the broader gaming industry. Decentralized finance platforms allow gamers to use in-game assets, such as virtual items or virtual currencies, as collateral for borrowing or lending and offer decentralized platforms for esports enthusiasts to place bets on their favorite teams or players using blockchain-based smart contracts. For instance, in October 2022, according to according to NewZoo BV, a Netherlands-based games market data company, in 2021, the audience for live-streamed gaming approached nearly 810 million and is anticipated to surpass 1.41 billion by the year 2025. Therefore, the rise in e-sports and gaming is driving the growth of the decentralized finance (DeFi) market.
Competitive Landscape:
Major companies operating in the decentralized finance market report are Compound Labs Inc., MakerDAO, Aave Companies, Uniswap Labs, SushiSwap, Curve Finance, Synthetix, Balancer Labs, Bancor Network, Badger DAO, Agave, KuCoin.com, Jeeves Consumer Services Pvt. Ltd., MoonPay Inc., Dapper Labs Inc., HYPR Corp., Zerion, Secret Key Labs Limited, Suffescom Solutions Inc., International Business Machines Corporation, Tata Consultancy Services Limited, Chainlink Labs, Polkadot Network, Stellar Development Foundation, Terraform Labs, Polygon Technology, Solana Labs, Cosmos Hub, Cream Finance
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Top Trend - Technological Advancements Driving Innovation In Decentralized Finance (DEFI) Market
Technological advancements are a key trend gaining popularity in the decentralized finance (DeFi) market. Major companies operating in the decentralized finance (DeFi) market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Bitget, a Seychelles-based cryptocurrency exchange platform, introduced a new feature called MegaSwap on its DeFi platform. MegaSwap is designed to facilitate the trading and swapping of digital assets for over 10,000 cryptocurrencies on the decentralized finance (DeFi) platform. The introduction of MegaSwap by Bitget offers users a convenient and efficient way to trade and swap digital assets on its DeFi platform, giving them access to a wide range of cryptocurrencies for their trading needs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Decentralized Finance Market Characteristics
3. Decentralized Finance Market Trends And Strategies
4. Decentralized Finance Market - Macro Economic Scenario
5. Decentralized Finance Market Size And Growth
…..
27. Decentralized Finance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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