Scope of the Study
Block chain in Fintech offers a promising cost effective solution to the financial institutions with regards to mobile payments and crowd funding. The growing adoption of block-chain in financial application is considered to be a revolutionary change as it will challenge the traditional approach of working. Additionally, it will lower the cost of cross borer payments, compliance and security trading. As potential benefit of block-chain technology is yet remains unanswered, it provides great opportunities for existing as well as emerging players.
The market study is being classified by Type (Product Type and Blockchain in Fintech), by Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contracts, Identity Management, Compliance Management/Know Your Customer (KYC) and Others (Cyber Liability and Content Storage Management)) and major geographies with country level break-up. According to AMA, the Global Blockchain in Fintech market is expected to see growth rate of 72.6% and may see market size of USD6.3 Million by 2024.
AWS [United States], IBM [United States], Microsoft [United States ], Ripple [United States], Chain [United States], Earthport [United Kingdom], Bitfury [United States], BTL Group [Canada], Oracle [United States], Digital Asset Holdings [United States], Circle [Ireland], Factom [United States], AlphaPoint [United Kingdom], Coinbase [United States], Abra [United States], Auxesis Group [India], BitPay [United States], BlockCypher [United States], Applied Blockchain [United Kingdom], RecordesKeeper [Spain], Symbiont [United States], Guardtime [Estonia], Cambridge Blockchain [United States], Tradle [United States] and Blockchain Advisory Mauritius Foundation [Mauritius] are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Everledger [United Kingdom], Xapo [Switzerland], Hyperledger Project [United States], Barclays [United Kingdom], Deloitte [United Kingdom] and PwC. [United Kingdom].
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockchain in Fintech market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Blockchain in Fintech market by Type, Application and Region.
On the basis of geography, the market of Blockchain in Fintech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Banking will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Provider, the sub-segment i.e. Application and Solution Providers will boost the Blockchain in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Cryptocurrency Market
- Rising Awareness About Potential Benefits of Block-chain in Finance Industries
- Reduced Total Cost of Ownership
- Growing Use of AI for Automation
- Increasing Adoption of Mobile Technology to Avail Financial Services
- Lack of Block-chain Applications and Use Cases
- Uncertainty About Potential Application of Block-chain
- Innovative and Programmable Block-chain Platforms
- Growing Use of Block-chain Technology in Payments, Smart Contracts and Digital Identities
- Issues Related with Security, Privacy and Control
- Scalability and Latency Problems
Different countries have different rules regarding block-chain implementation. United States’ Wyoming’s Business Corporation Act allows companies to register in Wyoming to use block-chain or other electric networks to store corporate documents. As per the latest amendment, block-chain can be used to identify shareholders in the corporation’s current record of shareholders by a data address, provided that the company can revert to a written record within a reasonable period of time.
Key Target AudienceApplication Developers, Services Providers and Distributors, Block-chain Application Builders, Independent Software Vendors (ISVs), Enterprises, End-users, Potential Investors in Technology and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase