Blockchain Technology Market in BFSI Sector by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71576
Technavio

Purchase this report now and if we publish a new version within 90 days, we will send you a free copy.

Safe and Secure SSL Encrypted
  • 2500.00
  • USD

The blockchain technology market share in BFSI sector is expected to increase by USD 3.29 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 36.41%.

This blockchain technology market in BFSI sector research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blockchain technology market segmentation in BFSI sector by type (public blockchain, private blockchain, and consortium blockchain) and geography (North America, Europe, APAC, South America, and MEA). The blockchain technology market report of BFSI sector also offers information on several market vendors, including Accenture Plc, AlphaPoint Corp., Amazon.com Inc., Bitfury Group Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., and Tata Consultancy Services Ltd. among others.

What will the Blockchain Technology Market Size in BFSI Sector be During the Forecast Period?

Download the Free Report Sample to Unlock the Blockchain Technology Market Size in BFSI Sector for the Forecast Period and Other Important Statistics

 

Blockchain Technology Market in BFSI Sector: Key Drivers and Trends

The increase in Fintech spending is notably driving the blockchain technology market growth in BFSI sector, although factors such as trust deficit in BT for financial transactions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blockchain technology industry in BFSI sector. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Blockchain Technology Market Driver in BFSI Sector

One of the key factors driving growth in the blockchain technology market in BFSI sector is the increase in FinTech spending. Over the years, the purview of FinTech has extended to include new and innovative front-end consumer products. Many FinTech startup companies provide solutions, which are operated through smartphones or tablets, directly to the customers through licensing or by means of white label services. The global investment in the FinTech sector increased tremendously by about 200% in a year. The increase in global investments indicates that large corporates like JP Morgan, Morgan Stanley, Barclays, and Santander are changing their value chains and technologies to adopt FinTech. FinTech spending is directly correlated with blockchain technology spending as the FinTech companies are developing advanced payment solutions for financial firms.

Key Blockchain Technology Market Challenge in BFSI Sector

The trust deficit in blockchain technology for financial transactions will be a major challenge for the blockchain technology market in BFSI sector during the forecast period. The technology is still in the nascent stage, and its vulnerabilities are yet to be explored. Many companies are also skeptical about the scalability of blockchain when it comes to handling large volumes of enterprise data. The time taken for transactions and the computing power required for performing a transaction is also major points of concern for some end-users. The total amount of computation for a blockchain is high when compared with process transactions of centralized databases. In a blockchain, the transaction must be processed independently by every node in the network

This blockchain technology market analysis report of BFSI sector also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Blockchain Technology Market Vendors in BFSI Sector?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • AlphaPoint Corp.
  • Amazon.com Inc.
  • Bitfury Group Ltd.
  • Hewlett Packard Enterprise Co.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Tata Consultancy Services Ltd.

 

This statistical study of the blockchain technology market in BFSI sector encompasses successful business strategies deployed by the key vendors. The blockchain technology market in BFSI sector is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blockchain technology market forecast report of BFSI sector offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Blockchain Technology Market in BFSI Sector?

For more insights on the market share of various regions Request for a FREE sample now!

48% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for blockchain technology in BFSI sector in North America. However, the market growth rate in this region will be slower than the growth of the market in other regions.

The rising demand for blockchain technology such as public blockchain will facilitate the blockchain technology market growth in BFSI sector in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Blockchain Technology Market in BFSI Sector?

To gain further insights on the market contribution of various segments Request for a FREE sample

The blockchain technology market share growth in BFSI sector by the public blockchain segment will be significant during the forecast period. The introduction of public blockchain in the BFSI sector has centralized the workflow process in financial institutions. Such developments will fuel the growth of the public blockchain segment, which, in turn, will drive the growth of the global blockchain technology market in BFSI sector.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blockchain technology market size in BFSI sector and actionable market insights on post COVID-19 impact on each segment.

 

Blockchain Technology Market Scope in BFSI Sector

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 36.41%

Market growth 2021-2025

$ 3.29 billion

Market structure

Fragmented

YoY growth (%)

23.70

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 48%

Key consumer countries

US, China, UK, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, AlphaPoint Corp., Amazon.com Inc., Bitfury Group Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., and Tata Consultancy Services Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Blockchain Technology Market Report of BFSI Sector?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive blockchain technology market growth in BFSI sector during the next five years
  • Precise estimation of the blockchain technology market size in BFSI sector and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the blockchain technology industry in BFSI sector across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of blockchain technology market vendors in BFSI sector

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Read More Read Less

Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Public blockchain - Market size and forecast 2020-2025
    • Private blockchain - Market size and forecast 2020-2025
    • Consortium blockchain - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Accenture Plc
    • AlphaPoint Corp.
    • Amazon.com Inc.
    • Bitfury Group Ltd.
    • Hewlett Packard Enterprise Co.
    • Infosys Ltd.
    • International Business Machines Corp.
    • Microsoft Corp.
    • Oracle Corp.
    • Tata Consultancy Services Ltd.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The blockchain technology market in bfsi sector market growth will increase by $3294.53 million during 2020-2025.
    The blockchain technology market in bfsi sector market is expected to grow at a CAGR of 36.41% during 2020-2025.
    Technavio has segmented the blockchain technology market in bfsi sector market by type (Public blockchain, Private blockchain, and Consortium blockchain) and geographic (North America, Europe, APAC, South America, and MEA).
    Accenture Plc, AlphaPoint Corp., Amazon.com Inc., Bitfury Group Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., Tata Consultancy Services Ltd. are a few of the key vendors in the blockchain technology market in bfsi sector market.
    North America will register the highest growth rate of 47.73% among the other regions. Therefore, the blockchain technology market in bfsi sector market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the blockchain technology market in bfsi sector market growth are:
    • Increase in FinTech spending
    The blockchain technology market in bfsi sector market vendors should focus on grabbing business opportunities from the public blockchain segment as it accounted for the largest market share in the base year.
    Safe and Secure SSL Encrypted
    Technavio

    Single User:

    2500 USD

    Technavio Get the report (PDF) sent to your email within minutes.

    Subscribe & Save

    Get lifetime access to our
    Technavio Insights

    Want to customize this report?

    This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

    We offer $1000 worth of FREE customization at the time of purchase
    Technavio
    Enquire Before Buying
    1. Home
    2. Information Technology
    3. Published Report
    17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>