Blockchain in BFSI Market Expected to See Extensive Worldwide Growth

The research dives deep into the global share, size, and trends, as well as growth rate of the Blockchain in BFSI market to project its progress during the forecast period. Most importantly, the report further identifies the past, present, and future trends that are expected to influence the development rate of the Blockchain in BFSI market. The research segments the market on the basis of product type, application, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, demand and production capability across different countries.

Blockchain in BFSI is also called as FinTech blockchain. Wide dissemination of blockchain by financial organizations from the past years has witnessed rise in popularity of cryptocurrencies and the initial coin offering (ICO). As well as blockchain is panacea for all fintech companies' digital concerns such as security. Blockchain as a technology was developed to serve as the public transaction ledger for cryptocurrencies, which uses distributed databases and cryptography to record transactions. This characteristic of blockchain provides a high level of safety while transmitting and storing data, open and transparent network infrastructure, decentralized ledger and low cost of operations benefits. Moreover, blockchain in FinTech anticipates in changing the paper-intensive international trade finance process to a digital decentralized ledger.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Blockchain in BFSI market.

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Factors such as increase in need for transactions transparency and accountability and greater adoption in cross-border payments drive the market growth. In addition, increase in investment by banks in blockchain-based solutions across the globe is also expected to boost the market growth. Moreover, increase in demand for distributed ledger technology and rise in cryptocurrencies market cap are also some of the factors that fuel the demand for blockchain solutions and services across global banks. However, scarcity of skilled workforce is expected to impede the market growth during the forecast period. Furthermore, growth in demand for increased scalability, transaction speed and reduction in processing costs are expected to provide major growth opportunities for blockchain in BFSI market in the upcoming years. Also, rise in demand from developing economies for blockchain solutions is also anticipated to be opportunistic for the market growth.

The major manufacturers covered in this report: Alphapoint, Auxesis Group, Amazon Web Services, Inc. (AWS), Bitfury Group Limited., Hewlett Packard Enterprise Development LP (HPE), International Business Machines Corporation (IBM), Infosys Limited, Microsoft Corporation, Oracle Corporation and SAP SE

The global blockchain in BFSI market is segmented based on component, application, organization size, industry vertical and region. Based on component, the market is bifurcated into platform and services. Based on application, the market is divided into digital currency, record keeping, payments & settlement, smart contracts, compliance management and others. Based on organization size, the market is classified into large enterprises and small & medium enterprises. Depending on industry vertical, the market is segmented into banking, insurance and non-banking financial companies (NBFCs). Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Scope of the study:

o The report conducts a detailed analysis of the evolving market dynamics
o It gives a holistic view of various drivers and restraints operating in the market
o It categorizes the prominent product segments and their future growth scenario
o The market insights derived after a thorough investigation of the industrial segments and subsegments enable readers make informed decisions.

Researchers conducting the research also carry out a comprehensive analysis of the recent amendments in the government regulation and their impact on the competitive landscape of the industry. The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions, and mergers, as well as investments in the sector for research and development.

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The report profiles the key players in the industry along with a detailed analysis of their individual positions against the global landscape. The researcher provides an extensive analysis of the Blockchain in BFSI market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

Scope of the report:

This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included a few top performers in the sector to calculate their industry shares and core competencies. The research explains technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments.

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Sameer Joshi
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