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Blockchain in the BFSI market registering a CAGR of 13.4% from 2018 to 2026

Blockchain in the BFSI market

Blockchain in the BFSI market

The platform segment is expected to generate significant revenue in the market in 2018 and is expected to remain dominant during the blockchain in the forecast period of the BFSI market.

PORTLAND, PORTLAND, OR, USA, Aug. 2, 2022 /EINPresswire.com/ — The increased need for transaction transparency and accountability, greater adoption of cross-border payments, and increased investment by banks in data-based solutions blockchain are fueling the growth of the global blockchain in the BFSI market. On the other hand, the lack of skilled labor is holding back growth to some extent.

However, increasing demand from developing economies and growing demand for increased scalability, transaction speed, and lower processing costs are expected to create a number of opportunities in the near future.

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According to the report, the global blockchain in BFSI market grossed $277.1 million in 2018 and is expected to reach $22.46 billion by 2026, growing at a CAGR of 73.8% from 2019 to 2026. The report also provides a detailed analysis of the main investments. pockets, best winning strategies, drivers and opportunities, market size and estimates, competitive landscape and wavering market trends.

Based on components, the platform segment accounted for almost three quarters of the global blockchain market share in BFSI in 2018 and is expected to dominate throughout the forecast period. This is attributed to its quality for creating new products and services, which helps generate new revenue opportunities for organizations.

The services segment, on the other hand, is expected to grow at the fastest CAGR of 76.1% during the period 2019-2026. Rising need to deploy and integrate blockchain platform and solutions into the BFSI ecosystem are the major factors accelerating the growth of the market.

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Based on the application, the small-deal segment held the bulk in 2018, contributing nearly two-fifths of the global blockchain in the BFSI market. Rising demand from enterprises to bridge the analog gap between contracts is fueling the growth of the segment.

The compliance management segment, on the other hand, is expected to cite the fastest CAGR of 78.7% through 2026. Compliance management’s ability to deliver immutable records to regulators has been the primary driver of segment growth.

Based on geography, North America contributed nearly half of the global blockchain in BFSI market revenue in 2018 and is expected to maintain its dominance by 2026. The presence of major market players and Growing counterfeiting concerns in the region have propelled blockchain adoption. .

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Simultaneously, the Asia-Pacific region would exhibit the fastest CAGR of 79.3% over the estimated period. This is due to the increase in collaboration, merger and acquisition activity between BFSIs and IT organizations in this province.

Key Benefits for Blockchain in the BFSI Market:

• This study presents the analytical representation of the global Blockchain in BFSI market trends and future estimations to determine impending pockets of investment.

• Detailed analysis of blockchain in BFSI market segment measures market potential. These segments describe favorable market conditions.

• The report presents information related to key drivers, restraints and opportunities.

• Current blockchain in BFSI market is quantitatively analyzed from 2018 to 2026 to highlight the financial competence of the industry.

• Porter’s Five Forces analysis illustrates the power of buyers and suppliers in the industry.

The global blockchain in the BFSI market is dominated by the global blockchain of BFSI players such as 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.

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Finally, this report provides market insights in the most comprehensive manner. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.

Related report:

1. Blockchain AI Market

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