Blockchain in financial services Market Segment by End user vertical (Non-Banking Financial Companies (NBFCs), Banking, and Insurance); application type (Payments & Settlement, Record Keeping, Digital Currency, Smart Contracts, Compliance Management, and Others) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030
Product Overview
Blockchain allows the distributed blockchain network ledger transactions which retain identical transaction copies on a wide range of computer systems and anyone associated with the network can check the transaction. It cannot be deleted once the information is verified, however, with the consent of most participants, blockchain can be modified. There are many issues involved as a traditional means of cross-border payments, such as high transaction costs, many intermediaries, and a longer completion time. On the other hand, blockchain-based processes involve no brokers, entail fewer transaction costs and permit fast money transfers.
Market Highlights
Global Blockchain in financial services is expected to project a notable CAGR of 74.50%% in 2030.
Global Blockchain in financial services to surpass USD XX billion by 2030 from USD XX billion in 2020 at a CAGR of 74.50% in the coming years, i.e., 2021-30. High interoperability with the ecosystem of the financial industry, quicker transactions, and a decrease in overall ownership cost are main drivers of financial technology blockchain. Major drivers of this market are the rising market for crypto-currency, initial ICOs, and lower transaction costs. Future market growth prospects include the increasing use of blockchain applications such as payments, clearances and settlements, intelligent contracts, identity managing, and new blockchain programmable platforms.
Global Blockchain in financial services: Segments
Smart Contracts segment to grow with the highest CAGR during 2020-30
Global Blockchain in financial services is segmented by application type into Payments & Settlement, Record Keeping, Digital Currency, Smart Contracts, Compliance Management, and Others. The smart contracts segment dominated financial service overall market blockchain in 2020, with the highest revenues anticipated during the projected timeframe. This section's growth is mainly due to the increased need for self-implementation contracts between banks.
Banking segment to grow with the highest CAGR during 2020-30
Global Blockchain in financial services is divided by End-user vertical into Non-Banking Financial Companies (NBFCs), Banking, and Insurance. The segment has reported the highest revenues in 2020 for BFSI blockchain and is expected to continue its dominance over the forecast period. The growth in this category is fueled by increasing the need to simplify banking processes with distributed headline technology.
Market Dynamics
Drivers
Provides greater transparency
Technology from Blockchain reorganizes the management of transactions through secure digital records. It enables customers in the banking network to share and settle key business and business details. It further provides all network entities that are anticipated to expand in blockchain on financial market faster transaction processing speed along with transaction and quality control of information. In addition, it generally offers cryptographic security for its databases and transactions which is also the crucial factor that adds transparency and significantly reduces fraud, and is anticipated to improve growth on the market. Blockchain is known for its improved security.
Adoptability in Cross- border payments
Global payment system's architectural boundaries and multiple policies & process combinations are the key drivers on the BFSI market for a blockchain. Blockchain technology offers enhanced transaction speed to support a global payments system that promotes cash policies and other compliances and confidentiality in an accurate and real-time way.
Restraint
Lack of skilled labour
During the forecast period, skilled labour shortages is anticipated to hamper market growth. During the predictive period, uncertain regulatory standards and frameworks and the shortage of applications and usage cases blockchain are anticipated to impede market growth.
Global Blockchain in financial services: Key Players
Hewlett Packard Enterprise Development LP (HPE)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Alphapoint
Bitfury Group Limited.
Oracle Corporation
Infosys Limited
SAP SE
Microsoft Corporation
Auxesis Group
Amazon Web Services, Inc. (AWS)
International Business Machines Corporation (IBM)
Other Prominent Players
Global Blockchain in financial services: Regions
Global Blockchain in financial services is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Blockchain in financial services in North America held the largest market share of XX% in the year 2020. The faster use of technological innovations in advanced nations, such as the United States and Canada, can be attributed to this. The increasing adoption of vertical blockchain technology, such as BFSI, government, retail for payments and wallets, digital identity identification, and smart contracts, is anticipated to fuel the growth in the area.
Global Blockchain in financial services is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Blockchain in financial services report also contains analysis on:
By Application Type
Payments & Settlement
Record Keeping
Digital Currency
Smart Contracts
Compliance Management
Others
By Deployment Type
Non-Banking Financial Companies (NBFCs)
Banking
Insurance
Blockchain in financial services Dynamics
Blockchain in financial services Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Contents
Executive Summary
Global Blockchain in financial services Market
Product Overview
Market Definition
Segmentation
Assumptions and Acronyms
Research Methodology
Research Objectives
Primary Research
Secondary Research
Forecast Model
Market Size Estimation
Average Pricing Analysis
Macro-Economic Indicators
Market Dynamics
Growth Drivers
Restraints
Opportunity
Trends
Correlation & Regression Analysis
Correlation Matrix
Regression Matrix
Recent Development, Policies & Regulatory Landscape
Risk Analysis
Demand Risk Analysis
Supply Risk Analysis
Global Blockchain in financial services Market Analysis
Porters Five Forces
Threat of New Entrants
Bargaining Power of Suppliers
Threat of Substitutes
Rivalry
PEST Analysis
Political
Economic
Social
Technological
Global Blockchain in financial services Market
Market Size & forecast, 2020A-2030F
By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Global Blockchain in financial services Market: Market Segmentation
By Regions
North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By deployment: Market Share (2020-2030F)
Non-Banking Financial Companies (NBFCs), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Banking, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Insurance, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By application Type: Market Share (2020-2030F)
Payments & Settlement, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Record Keeping, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Digital Currency, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Smart Contracts, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Compliance Management, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
Hewlett Packard Enterprise Development LP (HPE)
Company Overview
Company Total Revenue (Financials)
Market Potential
Global Presence
Key Performance Indicators
SWOT Analysis
Product Launch
Alphapoint
Bitfury Group Limited.
Oracle Corporation
Infosys Limited
SAP SE
Microsoft Corporation
Auxesis Group
Amazon Web Services, Inc. (AWS)
International Business Machines Corporation (IBM)
Other Prominent Players
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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