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Increasing demand for distributed ledger technology in banks and rising adoption of blockchain technology for capital optimization are facyors driving.

VANCOUVER, BRITISH COLUMBIA, CANADA, November 8, 2022 /EINPresswire.com/ -- Global Blockchain Technology in BFSI Market Forecast to 2028
A Global Blockchain Technology in BFSI Market Research Report from Emergen Research has been formulated by analyzing key business details and an extensive geographic spread of the Blockchain Technology in BFSI industry, encompassing key business details and extensive geographical coverage. In addition to providing crucial statistical data about the Blockchain Technology in BFSI market, this study covers qualitative and quantitative aspects of the Blockchain Technology in BFSI market.
Due to the rising need for distributed ledger technology in banks, the growth of the worldwide blockchain technology in BFSI market is anticipated to increase significantly in terms of revenue during the forecast period. An important factor that will contribute to the growth of the global blockchain technology in BFSI market during the forecast period is the increasing use of blockchain technology for capital optimization. Future market expansion is anticipated to be supported by growing use of blockchain technology for international payments. High implementation costs for blockchain technology are anticipated to limit acceptance, which will in turn have a limited impact on the global BFSI market's growth over the projected period.
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Key Highlights of Report
• Public blockchain segment is expected to lead in terms of revenue expansion at a CAGR of 75.3% during the forecast period. This high growth rate can be attributed to increasing application of public blockchain type applications such as Ethereum and Bitcoin.
• Platform segment is projected to account for largest market share over the forecast period due to increasing adoption of cloud technology and blockchain software.
• In terms of revenue contribution to the global blockchain technology in BFSI market, the smart contract segment is projected to lead during the forecast period as a result of increasing demand for self-executing contracts in the banking sector.
Key Companies Profiled in the Report are:
• Microsoft Corporation, Amazon Web Services, Inc., International Business Machines Corporation, SAP SE, Oracle Corporation, Infosys Limited, Bitfury Group Limited, Auxesis Group, AlphaPoint Corporation, and Hewlett Packard Enterprise Development LP.
Market Overview:
The report bifurcates the Blockchain Technology in BFSI market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Emergen Research has segmented the global blockchain technology in BFSI market on the basis of type, component, application, end-use, and region.
Type Outlook (Revenue, USD Million; 2021–2028)
• Consortium blockchain
• Private blockchain
• Hybrid blockchain
• Public blockchain
Component Outlook (Revenue, USD Million; 2021–2028)
• Services
• Platforms
Application Outlook (Revenue, USD Million; 2021–2028)
• Record keeping
• Compliance management
• Smart contract
• Digital currency
• Payment
• Others
End-use Outlook (Revenue, USD Million; 2021–2028)
• Insurance
• Banking
• Non-banking financial company
Regional Landscape section of the Blockchain Technology in BFSI report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Research Report on the Blockchain Technology in BFSI Market Addresses the Following Key Questions:
• Who are the dominant players of the Blockchain Technology in BFSI market?
• Which regional market is anticipated to have a high growth rate over the projected period?
• What consumer trends and demands are expected to influence the operations of the market players in the Blockchain Technology in BFSI market?
• What are the key growth drivers and restraining factors of the Blockchain Technology in BFSI market?
• What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
• What is the overall impact of the COVID-19 pandemic on the Blockchain Technology in BFSI market and its key segments?
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Blockchain Technology in BFSI market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
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