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In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Blockchain Technology in BFSI market for 2018-2023.
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
One driver in the market is increasing government investments in blockchain technology. The increasing investments in blockchain technology by various governments across the world is a major factor driving the growth of the global blockchain technology market in BFSI sector. Countries such as the UK, Canada, Russia, and China are experimenting by placing their national currencies on the blockchain. One of the major factors hindering the growth of the global blockchain technology market in BFSI sector is the lack of trust in the blockchain technology. The growing adoption of blockchain technology by the BFSI companies in Europe, will drive the growth prospects of the blockchain technology market in BFSI sector in EMEA. As a result, this region will be the major contributor to the blockchain market by the end of the forecast period.
Over the next five years, LPI(LP Information) projects that Blockchain Technology in BFSI will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Blockchain Technology in BFSI market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
- Public Blockchain
- Consortium Blockchain
Segmentation by application:
- Banking & Financial Services Industry
- Application 2
We can also provide the customized separate regional or country-level reports, for the following regions:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Blockchain Technology in BFSI market size by key regions/countries, product type and application.
- To understand the structure of Blockchain Technology in BFSI market by identifying its various subsegments.
- Focuses on the key global Blockchain Technology in BFSI players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Blockchain Technology in BFSI with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of Blockchain Technology in BFSI submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.