Blockchain in BFSI Market

Segmentation by Type (Private, Public, Consortium, Hybrid, and Others); by Component (Platform, and Services); by Application (Record Keeping, Payments & Settlement, Smart Contracts, Digital Currency, Compliance Management, and Others) – Global Demand Analysis & Opportunity Outlook 2030

Buy Now
Report ID: 3194 | Published On: Feb 09, 2023
Request Free Sample Copy

Global Blockchain in BFSI Market Regional Synopsis

On the basis of geographical analysis, the blockchain in BFSI market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing number of government initiatives to promote the usage of blockchain technologies in countries, namely Japan, China and India, as a result of their high efficiency and transparency. Apart from this, growing bitcoin trade in China is another crucial factor expected to drive market growth in the region. Moreover, the market in North America is anticipated to acquire the largest market share during the forecast period owing to the growing implementation of blockchain technology by banks and robust presence of leading international market players in the region. For instance, more than 85% of American and European banks and financial institutions began exploring the implementation of blockchain technology since 2018.

Global Blockchain in BFSI Market

Get more information on this reportDownload Sample PDF

The blockchain in BFSI market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Blockchain in BFSI Market
Get more information on this report: Request Sample PDF

Major Macro-Economic Indicators Impacting the Market Growth

Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Market Segmentation

Our in-depth analysis of the blockchain in BFSI market includes the following segments:

By Type

  • Private
  • Public
  • Consortium
  • Hybrid
  • Others

By Component

  • Platform
  • Services

By Application

  • Record Keeping
  • Payments & Settlement
  • Smart Contracts
  • Digital Currency
  • Compliance Management
  • Others

Growth Drivers

  • Increasing Demand for Enhanced Transactions in the Banking and Finance Sector
  • Rising Venture Investments in Blockchain Technologies


  • Limited Awareness about Blockchain in BFSI Sector

Development Expenditure
Get more information on this report: Request Sample PDF

Top Featured Companies Dominating the Market

    • International Business Machine Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Deloitte Touche Tohmatsu Limited
    • JPMorgan Chase & Co.
    • Google LLC
    • Microsoft Corporation
    • Accenture PLC
    •, Inc.
    • Goldman Sachs & Co. LLC
    • Hewlett Packard Enterprise Development LP
    • Oracle Corporation

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the blockchain in BFSI market?

Ans: The major growth drivers for the market are increasing demand for enhanced transactions in the banking and finance sector and rising venture investments in blockchain technologies.

2) What would be the CAGR of blockchain in BFSI market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~74% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the blockchain in BFSI market growth?

Ans: Limited awareness about blockchain in BFSI sector is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of blockchain in BFSI market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing number of government initiatives to promote the usage of blockchain technologies in Japan, China and India.

5) Who are the major players dominating the blockchain in BFSI market?

Ans: The major players in the market are International Business Machine Corporation, Deloitte Touche Tohmatsu Limited, JPMorgan Chase & Co., Google LLC, Microsoft Corporation, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the blockchain in BFSI market?

Ans: The market is segmented by type, component, application, and by region.

8) Which segment captures the largest market size in the type segment in the blockchain in BFSI market?

Ans: The private segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Request Research Report Sample