FINTECH BLOCKCHAIN MARKET TO REACH USD 6.2 BILLION BY 2024 | CAGR 70.6% – FORENCIS RESEARCH

FinTECH Blockchain Market Size, Share, Trends, Growth, Analysis, Research

Global Fintech Blockchain Market: Key Highlights

  • According to the new market research report Fintech Blockchain Market by Solution (Digital Customer Engagement, Retail Banking Operations, Commercial Banking Operations and Finance and Risk), By Type (Private Blockchain, Public Blockchain, Consortium Blockchain), By Application (Credit Scoring, Stock-Trading Applications, Insurance, Budgeting Applications and Others), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2024”, the global Fintech Blockchain Market is estimated to reach USD 6.2 Billion by 2024 at a CAGR of around 70.6% during the review period.
  • Rising adoption for digitization helps to improve the security and transparency in the business which is key factor driving the demand for Fintech Blockchain market.
  • However, high transaction cost & data security cost remains a major restraining factor for the growth of the Fintech Blockchain market

Global Fintech Blockchain Market: Key Market Dynamics

  • Increasing adoption of chatbots which provide a quick status update and automate monotonous tasks efficiently without any error.
  • Capital optimization helps to reduce the operational costs for the financial institutes and lead to improve the performance of the company which increase the growth of the market in the forecast period.
  • Cybersecurity and software code risks may hamper the market in the projected period.
  • Growing in adoption of stock market reduces the tracking cost and counterpart risks will enhance the growth of the market.

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Global Fintech Blockchain Market: Regional Overview

  • Asia-Pacific:

The Fintech Blockchain market in the Asia-Pacific region is projected to witness high demand due to the increasing use in financial sector for the secure purpose.

In 2020, China has launched its blockchain service which is known as Blockchain-based Services Network (BSN). In India the blockchain technology has adapting in many different aspects for government and private sector. Moreover, the Government of India is also taken an initiative for the growth of business and technology.  

  • Europe

According to the European Union Blockchain Observatory & Forum, the European government turned digital platform to support the business and government services. There was a declaration which is signed by 22 member states for the partnership with European Blockchain Partnership (EBP) TO enhance the blockchain services infrastructure. The region is helps the research in technology for better development and productivity.  

Global Fintech Blockchain Market: Key Players Overview

  • IBM Corporation:

The IBM Corporation is a leading American computer manufacturer who engages in the provision of an integrated solution which support the business processes and information technology. The company support financial institutions in real transactions and short sell of securities. The IBM is having the best enterprise blockchain as compare to any other organization. The company use the blockchain for real time data in digital as well as traditional assets. In 2019 the company has launched a blockchain-based global payment network with the help of Stellar’s Cryptocurrency.

  • Ripple:

Ripple is US based technology company which is largely known for its digital payment protocol. The company is real-time gross settlement system, remittance network and currency exchange create by its Ripple Labs. The company is for digital mode of transactions as well as for cryptocurrency. In 2018, the company provides On Demand domestic payment in Japan with the help of Ripple powered mobile application.

About Forencis Research

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Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Published : 2020-01-06