The Finance Sector Is Boosting the Demand for Global Fintech Blockchain Market to Evolve Around 43.51% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the global fintech blockchain market is growing at a CAGR of 43.51% throughout the forecasting years of 2019-2027.”
“Browse 37 market Data Tables and 45 Figures spread over 140 Pages, along with an in-depth TOC on global fintech blockchain market forecast 2019-2027.”
Blockchain technology has simplified the complex nature of current financial operations. This technology is finding applications for payment transfer, KYC, identity management, trade finance and other financial sectors. Characteristic like high security and transparency has reshaped the blockchain technology. The fintech blockchain market is highly influenced by the cryptocurrency market. This technology develops a highly secured value transfer system that can be used across financial industries.
Blockchain technology serves as a distribution ledger for cryptocurrency transactions. This network is liable for the transfer of value and information. Bitcoin market has largely been affected by the entry of other cryptocurrencies. Ripple and Ethereum’s are platforms that use blockchain technology. Many companies directly invest in the initial coin offerings to raise funds in the booming market. There have been notable investments in blockchain technology from private organizations as well as governments of many countries.
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Payment, clearing and settlement is the highly adopted application of the fintech blockchain market
Payment, clearing, settlement, exchange and remittance, smart contract, compliance management, KYC are some of the segments of the blockchain market by applications. Payment, clearing and settlement is the dominating segment as per application. The blockchain technology is easy to use and easy to pay which have broadened its applications in various industries. The increasing number of cross-border transactions influences the growth of the payment, clearing and settlement market. Banks and many stock exchanges are using the blockchain technology for easy transaction and transfer.
North America: the largest region in the global fintech blockchain market
The North America region was the highest contributor to the global fintech blockchain market in 2018. The region is adopting this technology owing to its applications in banking and non-banking financial and insurance services. The market in North America is surging due to government efforts to promote blockchain technology. Canada and the United States are dominating countries in the North America region.
The fintech blockchain market is growing at a rapid pace. The top players operating in the global market are Alphapoint, Bitfury, Coinbase, Earthport, Accenture, Ripple Lab Inc., Tradle, DigItal Asset Holdings, BTL group, Microsoft Corporation, Auxesis Group, Oracle Corporation, IO, Inc., Amazon Web Services (AWS), Circle Internet Financial Limited, International Business Corporations. These players are focusing on various strategies for development such as mergers, acquisitions, partnerships, collaborations, joint ventures and business expansions. However, the market is still at its evolving stage, which is making room for new entrants to undergo expansion.
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.
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