Frequently Asked Questions
The global Blockchain in the BFSI market was valued at USD 0.8 Billion in 2022.
Blockchain in the BFSI market is expected to grow at a CAGR of 55.50% between 2023 and 2030, reaching USD 17.587 Billion in 2030.
Private Blockchain is the leading segment by type, holding over 43% share in value in 2022.
The digital currency segment governs the demand for Blockchain in BFSIs in the World, holding a massive share of over 80% in 2022.
The identity management and fraud detection segment will post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the Blockchain in the BFSI industry, with the over one-third share in 2022.
The top players include International Business Machines Corporation, Bitfury Group Limited, Amazon Web Services, Inc., Microsoft Corporation, Infosys Limited, Auxesis Services & Technologies (P) Ltd., AlphaPoint, Oracle Corporation, Hewlett Packard Enterprise Development LP, SAP
The fostering trust among participants in the BFSI sector, this transparency improves security and lowers the possibility of fraud are the major market drivers.
Scalability issues that affect blockchain networks, particularly public blockchains, are the major market restraints.
With the huge growth potential in Asia Pacific, Blockchain can automate and streamline a number of financial procedures are the major opportunities the Blockchain in the BFSI industry.