Meticulous Research

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  • 01-Jun-2021

Meticulous Research® – a leading global market research company published a 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.

According to this latest publication from Meticulous Research®, the global FinTech blockchain market is expected to grow at a CAGR of 59.9% from 2021 to 2028 to reach $36.04 billion by 2028. This market is majorly driven by the factors such as the growing demand for regulated trading platforms; increasing need for faster, cheaper, and cross-border payment systems; rising customer demand for bitcoins; and higher compatibility with the financial services industry ecosystem. The growing investment in blockchain technology in developed regions and some developing countries in Asia-Pacific are expected to offer significant growth opportunities for the FinTech blockchain market. However, ambiguous regulatory standards and frameworks and the negative impact of COVID-19 on the global economy have emerged as notable restraints for market growth.

The global 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 solutions 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). The study also evaluates industry competitors and analyses the market at a country level.

Based on application, the FinTech blockchain market is segmented into cross-border payments, clearing, and settlement; smart contract; identity management; exchanges and remittance; compliance management/know your customer (KYC); and other applications. In 2021, the cross-border payments, clearing, and settlement segment is estimated to account for the largest share of the FinTech blockchain market. The large share of this segment is mainly attributed to the rising demand for improved payment experience, clarity in payment systems, and the growing need to reduce transaction costs. Besides, enhanced business agility, reliability, cost-effectiveness, and secure payment processing platform further augment the growth of this segment.

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 account for the largest share of the FinTech blockchain market due to its strong infrastructure and skilled IT personnel who manage FinTech blockchain platforms. Besides, large enterprises have a strong financial backup, and hence, they can easily procure desired FinTech blockchain solutions. However, the SMEs segment is expected to grow at the highest CAGR during the forecast period.

Based on provider, the FinTech blockchain market is segmented into middleware & service providers, infrastructure & base protocol providers, and application & solution providers. In 2021, the middleware & service providers segment is estimated to account for the largest share of the FinTech blockchain market. The large share of this segment is mainly attributed to the increasing demand for smart contract services, growing adoption of sophisticated middleware security solutions, and growing usage of distributed ledger technology for offering FinTech services.

Based on business domain, the FinTech blockchain market is segmented into payment, insurance, capital market, regulatory compliance, commercial banking, trade & supply chain finance, and risk management. In 2021, the payment segment is estimated to account for the largest share of the FinTech blockchain market. The large share of this segment is mainly attributed to the growing adoption of micropayment or retail payments, increasing need for P2P payments, and growing customer demand for superior customer experience. However, the insurance segment is projected to grow at the highest CAGR during the forecast period.

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Geographic Review

Geographically, the Asia-Pacific region is estimated to command the largest share of the FinTech blockchain market in 2021. This region focuses on adopting FinTech blockchain applications to enhance its IT infrastructure and leverage the benefits of new technologies, such as AI, blockchain, and IoT. This regional segment also boosts the presence of a majority of established FinTech blockchain players and start-ups.

Key Players

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.)

Key questions answered in the report

  • Which are the high-growth market segments in terms of the component, deployment mode, organization size, application, end user, and countries?
  • What is the historical market for FinTech blockchain across the globe?
  • What are the market forecasts and estimates from the period of 2019-2028?
  • What are the major drivers, restraints, and opportunities in the global FinTech blockchain market?
  • Who are the major players in the global FinTech blockchain market, and what market share do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the global FinTech blockchain market?
  • What are the different strategies adopted by the major players in the market?
  • What are the geographic trends and high growth countries?
  • Who are the local emerging players in the global FinTech blockchain market, and how do they compete with the other players?

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