HOME Top Market Reports FinTech Blockchain Market by Provider, Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contract, Identity Management, and Compliance Management/KYC), Organization Size, Vertical, and Region - Global Forecast to 2023

FinTech Blockchain Market by Provider, Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contract, Identity Management, and Compliance Management/KYC), Organization Size, Vertical, and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: June 2018
Report Code: TC 6358

 

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[141 Pages Report] The FinTech blockchain market size is expected to grow from USD 230.0 Million in 2017 to USD 6,228.2 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 75.9% during the forecast period. The base year considered for this report is 2017, and the market forecast period is 2018–2023. The major growth drivers of the market include higher compatibility with the financial services industry ecosystem, the rising cryptocurrencies market cap and Initial Currency Offering (ICO), reduced cost of transactions, and reduced total cost of ownership.

Objectives of the Study

The major objective of the report is to define, describe, and forecast the global FinTech blockchain market by provider, application, organization size, vertical, and region. The report provides detailed information related to the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of themarket. The report aims to strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles the key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and developments; and Research and Development (R&D) activities in the FinTech blockchain market.

Research Methodology

The research methodology used to estimate and forecast the FinTech blockchain market begins with capturing the data on the key vendor revenues through secondary research, which includes directories and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva. Vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall size of the global market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary participants is depicted in the figure below:

FinTech Blockchain Market

To know about the assumptions considered for the study, download the pdf brochure

The FinTech blockchain market comprises vendors, such as AWS (US), IBM (US), Microsoft (US), Ripple (US), Chain (US), Earthport (UK), Bitfury (US), BTL Group (Canada), Oracle (US), Digital Asset Holdings (US), Circle (Ireland), Factom (US), AlphaPoint (US), Coinbase (US), Abra (US), Auxesis Group (India), BitPay (US), BlockCypher (US), Applied Blockchain (UK), RecordesKeeper (Spain), Symbiont (US), Guardtime (Estonia), Cambridge Blockchain (US), Tradle (US), and Blockchain Advisory Mauritius Foundation (Mauritius). The other stakeholders in the market include cryptocurrency vendors, research organizations, network and system integrators, blockchain services providers, and distributed ledger technology solutions providers.

Key Target Audience:

  • Application developers
  • Services providers and distributors
  • Blockchain application builders
  • Independent Software Vendors (ISVs)
  • Enterprises
  • End-users

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

Scope of the Report

The research report categorizes the FinTech blockchain market to forecast revenues and analyze trends in each of the following subsegments:

By Application

  • Payments, clearing, and settlement
  • Exchanges and remittance
  • Smart contracts
  • Identity management
  • Compliance management/Know Your Customer (KYC)
  • Others (cyber liability and content storage management)

By Provider

  • Application and solution providers
  • Middleware providers
  • Infrastructure and protocols providers

By Organization Size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large enterprises

By Industry Vertical

  • Banking
  • Non-banking financial services
  • Insurance

By Region

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players up to 5.

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the FinTech Blockchain Market
    4.2 Market By Provider
    4.3 Market By Application
    4.4 Market By Organization Size
    4.5 Market By Region

5 Market Overview and Industry Trends (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 High Compatibility With Financial Services Industry Ecosystem
                    5.2.1.2 Rising Cryptocurrency Market Cap and Ico
                    5.2.1.3 Faster Transactions
                    5.2.1.4 Reduced Tco
           5.2.2 Restraints
                    5.2.2.1 Uncertain Regulatory Standards and Frameworks
                    5.2.2.2 Lack of Blockchain Applications and Use Cases
           5.2.3 Opportunities
                    5.2.3.1 High Adoption of Blockchain Technology for Payments, Smart Contracts, and Digital Identities
                    5.2.3.2 New Breed of Programmable Blockchain Platforms
           5.2.4 Challenges
                    5.2.4.1 Security, Privacy, and Control Issues
                    5.2.4.2 Scalability and Latency Challenges
    5.3 Industry Trends
           5.3.1 Types of Blockchain Technology
                    5.3.1.1 Public Blockchain
                    5.3.1.2 Private Blockchain
           5.3.2 Blockchain Associations, Regulatory and Policy Makers, and Consortiums
                    5.3.2.1 CLS Group
                    5.3.2.2 R3cev Blockchain Consortium
                    5.3.2.3 Hyperledger
                    5.3.2.4 Global Payments Steering Group (GPSG)
                    5.3.2.5 Financial Blockchain Shenzhen Consortium (FBSC)
                    5.3.2.6 Cu Ledger
                    5.3.2.7 Blockchain Collaborative Consortium (BCCC)
                    5.3.2.8 Wall Street Blockchain Alliance (WSBA)
                    5.3.2.9 International Monetary Fund (IMF)
                    5.3.2.10 New York Department of Financial Services (NYDFS)
                    5.3.2.11 Financial Conduct Authority (FCA)
           5.3.3 Blockchain in Banking, Financial Services, and Insurance
                    5.3.3.1 Examples of FinTech Blockchain Across Financial Sectors
    5.4 Market Evolution

6 FinTech Blockchain Market, By Provider (Page No. - 44)
    6.1 Introduction
    6.2 Application and Solution Providers
    6.3 Middleware Providers
    6.4 Infrastructure and Protocol Providers

7 Market By Application (Page No. - 49)
    7.1 Introduction
    7.2 Payments, Clearing, and Settlement
    7.3 Exchanges and Remittance
    7.4 Smart Contract
    7.5 Identity Management
    7.6 Compliance Management/ KYC
    7.7 Others

8 FinTech Blockchain Market, By Organization Size (Page No. - 57)
    8.1 Introduction
    8.2 Large Enterprises
    8.3 Small and Medium-Sized Enterprises

9 Market By Vertical (Page No. - 61)
    9.1 Introduction
    9.2 Banking
    9.3 Non-Banking Financial Services
    9.4 Insurance

10 FinTech Blockchain Market, By Region (Page No. - 66)
     10.1 Introduction
     10.2 North America
             10.2.1 By Provider
             10.2.2 By Application
             10.2.3 By Organization Size
             10.2.4 By Vertical
             10.2.5 By Country
                        10.2.5.1 United States
                        10.2.5.2 Canada
     10.3 Europe
             10.3.1 By Provider
             10.3.2 By Application
             10.3.3 By Organization Size
             10.3.4 By Vertical
             10.3.5 By Country
                        10.3.5.1 United Kingdom
                        10.3.5.2 Germany
                        10.3.5.3 Rest of Europe
     10.4 APAC
             10.4.1 By Provider
             10.4.2 By Application
             10.4.3 By Organization Size
             10.4.4 By Vertical
             10.4.5 By Country
                        10.4.5.1 China
                        10.4.5.2 India
                        10.4.5.3 Australia and New Zealand
                        10.4.5.4 Rest of APAC
     10.5 Latin America
             10.5.1 By Provider
             10.5.2 By Application
             10.5.3 By Organization Size
             10.5.4 By Vertical
             10.5.5 By Country
                        10.5.5.1 Mexico
                        10.5.5.2 Brazil
                        10.5.5.3 Rest of Latin America
     10.6 Middle East and Africa
             10.6.1 By Provider
             10.6.2 By Application
             10.6.3 By Organization Size
             10.6.4 By Vertical
             10.6.5 By Country
                        10.6.5.1 Middle East
                        10.6.5.2 Africa

11 Competitive Landscape (Page No. - 84)
     11.1 Overview
     11.2 Prominent Players in the Global FinTech Blockchain Market
     11.3 Competitive Situations and Trends
             11.3.1 Partnerships, Agreements, and Collaborations
             11.3.2 New Product Launches/Product Upgradations
             11.3.3 Expansions
             11.3.4 Venture Funding

12 Company Profiles (Page No. - 89)
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 AWS
     12.2 IBM
     12.3 Microsoft
     12.4 Ripple
     12.5 Chain
     12.6 Earthport
     12.7 Bitfury
     12.8 BTL Group
     12.9 Oracle
     12.10 Digital Asset Holdings
     12.11 Circle
     12.12 Factom
     12.13 Alphapoint
     12.14 Coinbase
     12.15 Abra
     12.16 Auxesis Group
     12.17 Bitpay
     12.18 Blockcypher
     12.19 Applied Blockchain
     12.20 Recordskeeper
     12.21 Symboint
     12.22 Guardtime
     12.23 Cambridge Blockchain
     12.24 Tradle
     12.25 Blockchain Advisory Mauritius Foundation

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 133)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customization
     13.6 Related Reports
     13.7 Author Details


List of Tables (49 Tables)

Table 1 FinTech Blockchain Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 2 Market Size By Provider, 2016–2023 (USD Million)
Table 3 Application and Solution Providers: Market Size By Region, 2016–2023 (USD Million)
Table 4 Middleware Providers: Market Size By Region, 2016–2023 (USD Million)
Table 5 Infrastructure and Protocol Providers: Market Size By Region, 2016–2023 (USD Million)
Table 6 FinTech Blockchain Market Size, By Application, 2016–2023 (USD Million)
Table 7 Payments, Clearing, and Settlement: Market Size By Region, 2016–2023 (USD Million)
Table 8 Exchanges and Remittance: Market Size By Region, 2016–2023 (USD Million)
Table 9 Smart Contract: Market Size By Region, 2016–2023 (USD Million)
Table 10 Identity Management: Market Size By Region, 2016–2023 (USD Million)
Table 11 Compliance Management/KYC: Market Size By Region, 2016–2023 (USD Million)
Table 12 Others: Market Size By Region, 2016–2023 (USD Million)
Table 13 Market Size By Organization Size, 2016–2023 (USD Million)
Table 14 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 15 Small Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 16 Market Size By Vertical, 2016–2023 (USD Million)
Table 17 Banking: Market Size By Region, 2016–2023 (USD Million)
Table 18 Non-Banking Financial Services: Market Size By Region, 2016–2023 (USD Million)
Table 19 Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 20 FinTech Blockchain Market Size, By Region, 2016–2023 (USD Million)
Table 21 North America: Market Size By Provider, 2016–2023 (USD Million)
Table 22 North America: Market Size By Application, 2016–2023 (USD Million)
Table 23 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 24 North America: Market Size By Vertical, 2016–2023 (USD Million)
Table 25 North America: Market Size By Country, 2016–2023 (USD Million)
Table 26 Europe: Market Size By Provider, 2016–2023 (USD Million)
Table 27 Europe: Market Size By Application, 2016–2023 (USD Million)
Table 28 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 29 Europe: Market Size By Vertical, 2016–2023 (USD Million)
Table 30 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 31 Asia Pacific: FinTech Blockchain Market Size, By Provider, 2016–2023 (USD Million)
Table 32 APAC: Market Size By Application, 2016–2023 (USD Million)
Table 33 APAC: Market Size By Organization Size, 2016–2023 (USD Million)
Table 34 APAC: Market Size By Vertical, 2016–2023 (USD Million)
Table 35 APAC: Market Size By Country, 2016–2023 (USD Million)
Table 36 Latin America: Market Size By Provider, 2016–2023 (USD Million)
Table 37 Latin America: Market Size By Application, 2016–2023 (USD Million)
Table 38 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 39 Latin America: Market Size By Vertical, 2016–2023 (USD Million)
Table 40 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 41 Middle East and Africa: FinTech Blockchain Market Size, By Provider, 2016–2023 (USD Million)
Table 42 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 43 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 44 Middle East and Africa: Market Size By Vertical, 2016–2023 (USD Million)
Table 45 Middle East and Africa: Market Size By Country, 2016–2023 (USD Million)
Table 46 Partnerships, Agreements, and Collaborations, 2017–2018
Table 47 New Product Launches and Product Upgradations, 2016–2018
Table 48 Business Expansions, 2015–2016
Table 49 Venture Funding, 2015–2018


List of Figures (34 Figures)

Figure 1 FinTech Blockchain Market Segmentation
Figure 2 Regional Scope
Figure 3 Market Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 FinTech Blockchain Market: Assumption
Figure 9 Payments, Clearing, and Settlement Application, and North American Region are Estimated to Have the Largest Market Shares in 2018
Figure 10 FinTech Blockchain Market Share, By Provider, 2018
Figure 11 North America is Estimated to Hold the Largest Market Share in 2018
Figure 12 High Adoption of the Blockchain Technology in Various Application Areas is Expected to Provide Significant Growth Opportunities in the Market During the Forecast Period
Figure 13 Application and Solution Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Compliance Management/KYC Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Large Enterprises Segment is Expected to Have the Larger Market Share During the Forecast Period
Figure 16 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Market Drivers, Restraints, Opportunities,And Challenges
Figure 18 Evolution of the FinTech Blockchain Market
Figure 19 Application and Solution Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Compliance Management/KYC Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Small and Medium-Sized Enterprises Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 22 Insurance Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America is Expected to Contribute the Largest Revenue During the Forecast Period
Figure 24 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 APAC: Market Snapshot
Figure 27 Key Developments By the Leading Players in the FinTech Blockchain Market
Figure 28 Market Evaluation Framework
Figure 29 AWS: Company Snapshot
Figure 30 IBM: Company Snapshot
Figure 31 Microsoft: Company Snapshot
Figure 32 Earthport: Company Snapshot
Figure 33 BTL Group: Company Snapshot
Figure 34 Oracle: Company Snapshot

The FinTech blockchain market is expected to grow from USD 370.3 Million in 2018 to USD 6,228.2 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 75.9% during the forecast period. The major drivers of the market include the higher compatibility with financial industry ecosystem, the rising cryptocurrency market cap and Initial Coin Offering (ICO), faster transaction, and reduced total cost of ownership. The future growth opportunities for market include the rising adoption of blockchain applications, such as payments, clearing, and settlements, smart contracts, and identity management, and a new breed of programmable blockchain platform.

The FinTech blockchain market study aims at estimating the market size and future growth potential of the market across different segments, such as providers, applications, and regions. The application segment includes payments, clearing, and settlement, exchanges and remittances, smart contracts, identity management, compliance management/Know Your Customer (KYC), and others (cyber liability and content storage management). The payments, clearing, and settlement segment is expected to dominate the application segment in terms of contribution to the overall market, as financial companies are deploying blockchain-based smart contracts to bring reduction in costs of verification, execution, arbitration, and fraud prevention.

The FinTech blockchain market has been segmented on the basis of providers into 3 categories: application and solution providers, middleware providers, and infrastructure and protocols providers. These providers offer infrastructure to develop in the blockchain-based platforms. Among these types, the application and solution providers segment is the fastest-growing segment in the overall market. The introduction of technologically advanced blockchain solutions has witnessed a certain level of adoption in financial companies, thereby fueling the overall market growth.

FinTech blockchain applications are witnessing an increasing demand across the financial industry. Applications such as payments, smart contracts, and compliance management/KYC are assisting banks, investment banks, and insurance companies to enhance their efficiency and reduce infrastructure cost. The non-banking financial services, such as asset management and wealth management, are expected to dominate the market during the forecast period, due to the growing importance of FinTech blockchain applications. This, in turn, is expected to enhance the customer satisfaction, prevent fraudulent transactions, provide faster transactions, and reduce total cost of ownership.

The large enterprises segment is expected to dominate the market in terms of market size, as large enterprises are focusing on implementing blockchain applications to improve the customer loyalty and have an overall reduced infrastructure cost. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.

FinTech Blockchain Market

In terms of geographic coverage, the FinTech blockchain market has been segmented into 5 regions, namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to account for the largest share of the overall market in 2018. North America is considered the most advanced region with regard to technology adoption and infrastructure. The wide presence of the key industry players of the blockchain technology solutions in this region is the major driving factor responsible for the growth of the FinTech blockchain market. Financial companies in this region are moving toward the adoption of the blockchain technology. Furthermore, APAC is expected to account for the highest growth rate during the forecast period, due to the increase in the overall investments in the blockchain technology solutions to change the business processes in the finance industry. The key financial hubs, including Hong Kong and Singapore, provide huge opportunities for the adoption of blockchain applications in the financial industry. However, lack of awareness and technical understanding about the blockchain technology can act as a restraining factor in the market across various regions.

The major FinTech blockchain technology market vendors include AWS (US), IBM (US), Microsoft (US), Ripple (US), Chain (US), Earthport (UK), Bitfury (US), BTL Group (Canada), Oracle (US), Digital Asset Holdings (US), Circle (Ireland), Factom (US), AlphaPoint (US), Coinbase (US), Abra (US), Auxesis Group (India), BitPay (US), BlockCypher (US), Applied Blockchain (UK), RecordesKeeper (Spain), Symbiont (US), Guardtime (Estonia), Cambridge Blockchain (US), Tradle (US), and Blockchain Advisory Mauritius Foundation (Mauritius).). These players have majorly adopted partnerships, agreements, and collaborations; and new product launches as their key growth strategies to offer feature-rich blockchain technology solutions to customers and further penetrate into untapped regions.

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