Blockchain in Fintech Market 2020-2023: Analysis, Size, Share, Growth and Opportunity Assessment

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Sep 03, 2020 (AmericaNewsHour) —
Global Blockchain in Fintech Market Research Report, Service Provider (Application & solutions, middleware & services, infrastructure), Interaction Channel (bank branch, mobile application), Organization Size (Large Enterprise, SME), Application (Payment, Smart Contract) —  Forecast till 2023

Market synopsis

Worldwide blockchain in financial technology (fintech) market is expected to grow from USD 231.63 million in 2017 to USD 6700.63 million by 2023, at a compound annual growth rate (CAGR) of 75.2% during the forecast period. Key factors driving blockchain in fintech are high compatibility with the financial industry ecosystem, faster transactions, and reduction of the total cost of ownership. North America is expected to dominate the market owing to a technically advanced region and the presence of major key players. Major factors driving this market are rising cryptocurrency market, initial coin offering (ICO), and reduced cost of transactions. However, uncertain regulatory standards and frameworks and lack of blockchain applications and use cases are expected to hinder the growth of the market during the forecast period.

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The future growth opportunities for the market include the rising adoption of blockchain applications, such as payments, clearance and settlements, smart contracts, identity management, and new programmable blockchain platforms.Blockchain in fintech market study aims at estimating the market size and future growth potential of the market across different segments such as service providers, interaction channels, organization size, application, and regions.

Blockchain is the technology that uses a shared ledger to record transactions across a decentralized network of computers. Blockchain in fintech manages and controls the information on digital transactions and avoid duplicates. Integration of this technology provides real-time payments against assets with an immutable state and digital identity, resulting in significant cost savings with respect to the reconciliation and settlement for several financial institutions and banks. Leading financial institutions and banks including Citibank, J.P. Morgan, Goldman Sachs and Barclays among others, have taken steps to deploy this technology.

Ripple is one of the key players in this market which connects banks, payment providers, digital asset exchanges, and corporates through its platform RippleNet to provide a seamless experience to send money globally. RippleNet is built with advanced blockchain technology that is scalable, secure, and interoperates with different networks.


By service provider, the market is segmented into application and solutions, middleware & services and infrastructure & base protocols.By interaction channel, the market is segmented into bank branches, mobile applications, websites, call centers, and others.

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By organization size, the market is segmented into large enterprise and SME.By application, the market is segmented into banking, payment, smart contracts, trade & supply chain finance, capital market, risk management & compliance, insurance, digital identity management, and others.By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world

Regional analysis

The global market for blockchain in fintech is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of blockchain in fintech market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the blockchain in fintech market owing to increasing adoption of advanced technology and infrastructure in this region. Asia-Pacific is expected to be the fastest growing region in this market led by an increase in the overall investments in the blockchain technology solutions to change the business processes in the finance industry.

Competitive Analysis

The blockchain in fintech market has witnessed a major trend of new product launch strategy across the region. Many key players have adopted new product development as their chief organic strategy to gain significant market share in the market. The new product launch strategy is accounted for a significant percentage of the total market strategy in the year 2016 and 2017. Besides, partnership & collaboration strategy accounted for XX%; whereas, merger & acquisition accounted for XX% of the total strategy adopted by the key players in the market.

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Key players

The prominent players in the blockchain in fintech market are Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US), Ripple (US), Chain Inc (US), Earthport PLC. (UK), Bitfury Group Limited (US), BTL Group (Canada), Oracle Corporation (US) and Digital Asset Holdings (US).

Other players in the blockchain in fintech market are Circle Internet Financial Limited (Ireland), Factom (US), AlphaPoint (US), Coinbase (US), Plutus Financial, Inc. (US), Auxesis Group (India), BitPay (US), BlockCypher, Inc. (US), Applied Blockchain Ltd. (UK), RecordesKeeper (Spain), (US), Guardtime (Estonia), Cambridge Blockchain, LLC. (US), Tradle (US), and Blockchain Advisory Mauritius Foundation (Mauritius) among others.

Intended Audience

Application developers

Services providers and distributors

Blockchain application builders

Independent Software Vendors (ISVs)


Research institutes, organizations, and consulting companies

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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The post Blockchain in Fintech Market 2020-2023: Analysis, Size, Share, Growth and Opportunity Assessment appeared first on America News Hour.


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