London, June 02, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled, “FinTech Blockchain Market by Application (Payments, Clearing, & Settlement, Identity Management), Provider, Organization Size, and Business Domain (Payment, Insurance, Capital Market, Commercial Banking, Regulatory Compliance) – Global Forecast to 2028.” the FinTech blockchain market is expected to grow at a CAGR of 59.9% from 2021 to 2028 to reach $36.04 billion by 2028.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5013
FinTech is used to describe new tech that seeks to improve and automate the delivery and use of financial services. FinTech blockchain is referred to as a financial technology application developed by using blockchain. It provides software, solutions, and other FinTech blockchain services used to provide automated and improved financial services across businesses.
Over the years, FinTech blockchain has gained importance and is becoming a common part of organizations dealing with improving digital banking services, stronger security, and regulation systems. Several business domains, including payment, insurance, capital market, and commercial banking, are deploying this technology worldwide on a considerable scale.
The growing demand for regulated trading platforms; increasing need for faster, inexpensive, and cross-border payment systems; and rising customer demand for bitcoins are the key factors driving the growth of the FinTech blockchain market. However, the lack of a balanced regulatory framework for blockchain applications and the COVID-19-induced global economic downturn are expected to pose serious challenges to the growth of the FinTech blockchain market.
Impact of COVID-19 on the FinTech Blockchain Market
The COVID-19 pandemic has adversely hit many economies around the globe. To combat this pandemic, complete lockdowns and quarantine measures were in place across the globe. This has had a strong impact on various industries worldwide, and the FinTech blockchain industry is no exception. The uncertainty regarding the possible length of lockdowns and supply chain disruptions has made it an arduous task for industry players to anticipate the resurgence in the FinTech blockchain industry. Thus, the crisis is expected to cause structural shifts that would have significant implications for this industry.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5013
Major players operating in the FinTech blockchain market are focused on bringing the market back on track. Companies are introducing new and affordable packages for several business domains to attract new customers. Besides, stimulus packages announced by governments are also expected to help industries recover from this economic downturn.
FinTech blockchain plays a significant role in handling uncertainties in the commercial banking, payment, and insurance industries. The technology facilitates smart contracts, exchanges & remittances, and identity management, helping customers and service providers efficiently handle the situations. Such applications have helped the FinTech blockchain market sustain during the COVID-19 crisis.
The overall FinTech blockchain market is segmented based on application (cross-border payments, clearing, and settlement, smart contract, identity management, exchanges and remittance, compliance management/know your customer (KYC), and others), provider (application and solution providers, middleware and service providers, infrastructure and base protocols providers), organization size (small & medium and large enterprises), business domain (payment, insurance, capital market, commercial banking, regulatory and compliance, trade & supply chain finance, and risk management), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on application, in 2021, the cross-border payments, clearing, and settlement segment is estimated to account for the largest share of the overall FinTech blockchain market. Factors driving the growth of this segment include the rising demand for enhanced payment experience, clarity in payment systems, and the growing need to reduce transaction costs.
Quick Buy – FinTech Blockchain Market Research Report: https://www.meticulousresearch.com/Checkout/64613439
Based on organization size, the FinTech blockchain market is segmented into small & medium and large enterprises. In 2021, the large enterprises segment is estimated to command the largest share of the overall FinTech blockchain market due to its strong infrastructure and skilled IT personnel. Furthermore, large enterprises have a strong financial backup, and hence, they can easily procure desired FinTech blockchain solutions. However, the small & medium enterprises segment is expected to record the highest CAGR during the forecast period.
Based on business domain, the payment segment is estimated to command the largest share of the overall FinTech blockchain market in 2021. The large share of this segment is mainly attributed to the growing adoption of micropayment or retail payments; increasing need for P2P payments, safe and quick cross-border payments systems; automation with smart contracts; and growing customer demand for better customer experience. However, the insurance segment is projected to grow at the highest CAGR during the forecast period.
Geographically, the Asia-Pacific region is estimated to command the largest share of the global FinTech blockchain market in 2021. The presence of prominent players offering advanced FinTech blockchain applications to various sectors in the region is one of the major drivers for the growth of this regional segment. The rapid integration of blockchain technology has been proposed and undertaken by local APAC governments, which is also expected to boost the demand for FinTech blockchain applications for dedicated processes. However, the FinTech blockchain market in North America is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of technologies, such as AI, blockchain, and IoT.
The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past four years (2018–2021). The FinTech blockchain market has witnessed several product launches in recent years. For instance, in December 2020, BitGo launched its first institutional-grade wallet solution for providing multi-signature security.
The key players operating in the global FinTech blockchain market are IBM Corporation (U.S.), Coinbase (U.S.), Ripple (U.S.), Accenture (Ireland), Salt Blockchain, Inc. (U.S.), Gemini Trust Company, LLC (U.S.), Circle Internet Financial Ltd. (U.S.), Celsius Lending LLC (U.S.), BitGo (U.S.), Blockchain.Com (U.K.), Oracle Corporation (U.S.), Chainalysis Inc. (U.S.), Robinhood (U.S.), Morgan Stanley (U.S.), Token, Inc. (U.S.), The Goldman Sachs Group, Inc. (U.S.), Amazon Web Services (U.S.), Axoni (U.S.), J.P. Morgan (U.S.), and TrustToken (U.S.) among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/fintech-blockchain-market-5013
Scope of the Report
FinTech Blockchain Market, by Application
- Cross-border Payment, Clearing, & Settlement
- Identity Management
- Smart Contract
- Exchanges & Remittance
- Compliance Management/ Know Your Customers
- Other Applications
FinTech Blockchain Market, by Provider
- Middleware and Service Providers
- Application and Solution Providers
- Infrastructure and Base Protocol Providers
FinTech Blockchain Market, by Organization Size
- Small & Medium Enterprises
- Large Enterprises
FinTech Blockchain Market, by Business Domain
- Capital Market
- Commercial Banking
- Regulatory Compliance
- Trade and Supply Chain Finance
- Risk Management
FinTech Blockchain Market, by Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5013
Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research
Blockchain Technology Market By Industry Vertical (BFSI, Government, Healthcare, Retail and E-Commerce, Transportation and Logistics) Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity) And Geography – Global Forecast To 2025
Blockchain in Manufacturing Market by Providers (Middleware Providers, Infrastructure and Protocols Providers, Application and Solution Providers), by Application (Predictive Maintenance, Business Process Optimization), End-User (Automotive, Healthcare, Energy and Power, Industrial, Pharmaceuticals), and Region – Global Forecast to 2025
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
Europe : +44-203-868-8738
APAC: +91 744-7780008
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/209/fintech-blockchain-market-2028