The global decentralized finance market growth
is attributed to factors such as an increase in spending on
blockchain technology, an increase in the adoption of digitized
financial services, and high access to unbanked people.
PORTLAND, Ore., Sept. 5,
2023 /PRNewswire/ -- Allied Market Research published
a report, titled, "Decentralized
Finance Market by Component (Blockchain Technology,
Decentralized Applications (D-Apps), and Smart
Contracts), Application (Assets Tokenization, Compliance, and
Identity, Marketplaces and Liquidity, Payments, Data and Analytics,
and Others (Stablecoins, Prediction Industry,
Decentralized Exchanges)): Global Opportunity Analysis
and Industry Forecast, 2022–2032." According to the
report, the global decentralized finance industry
generated $13.8 billion in 2022 and
is anticipated to generate $497.9
billion by 2032, witnessing a CAGR of 43.4% from 2023 to
2032.
Request PDF Brochure:
https://www.alliedmarketresearch.com/request-sample/200902
DeFi, or Decentralized Finance, is a
term and ecosystem that refers to the use of blockchain
technologies and smart contracts to develop and improve
decentralized financial systems. The goal of
DeFi is to provide transparent, open, and
permissionless financial services that do not require the
involvement of banks or financial institutions.
DeFi transactions and services take place on
decentralized platforms. Most DeFi
platforms are based on blockchain networks, such as
Ethereum. DeFi platforms provide a wide
range of financial services, such as lending, borrowing, selling,
managing assets, providing insurance, and running
decentralized exchanges.
Prime Determinants of Growth:
The global decentralized finance market growth is
attributed to factors such as an increase in spending on blockchain
technology, an increase in the adoption of digitized financial
services, and high access to unbanked people. On the other hand,
interoperability issues between different DeFi
platforms, and data privacy and regulatory concerns may restrict
market growth. Moreover, a rise in innovation in financial products
and services is expected to offer remunerative opportunities for
the expansion of the global decentralized finance
market.
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$13.8
Billion
|
Market Size in
2032
|
$497.9
Billion
|
CAGR
|
43.4 %
|
No. of Pages in
Report
|
336
|
Segments
Covered
|
Component, Application,
and Region
|
Drivers
|
Increasing spending on
blockchain technology
|
Increasing adoption of
digitized financial services
|
High access to people
who are unbanked
|
Opportunities
|
Growing innovation in
financial products and services
|
Restraints
|
Data privacy and
regulatory concerns
|
Interoperability issues
between different DeFi platforms
|
COVID-19 Scenario:
- The COVID-19 pandemic had a significant impact on consumer
trends, preferences, and budgets, particularly in the
decentralized finance (DeFi) market.
DeFi refers to financial services and applications
that are built on blockchain technology, that aim to provide
alternatives to traditional financial systems. The economic
uncertainty caused by lockdowns and job losses prompted individuals
to explore new ways of managing their finances. DeFi
offered opportunities for earning passive income through activities
like yield farming and liquidity provision, which appealed to those
seeking additional income sources.
- Furthermore, growing investments and funding are helping to
expand decentralized finance products and business
growth.
The Blockchain technology segment to maintain its leadership
status throughout the forecast period-
By component, the blockchain technology segment held the highest
market share in 2022, accounting for nearly half of the global
decentralized finance market revenue, and is projected
to maintain its leadership status throughout the forecast period.
This is due to ongoing advancements in consensus mechanisms and
scalability solutions addressing the challenges faced by early
blockchain systems. As the DeFi ecosystem expands, the
integration of blockchain technology into traditional finance also
presents opportunities for innovation and disruption. However, the
smart contracts segment is projected to manifest the highest CAGR
of 46.0% from 2023 to 2032. Owing to their efficiency, accuracy,
and cost-effectiveness.
The payments segment to maintain its lead position throughout
the forecast period-
By application, the data and analytics segment held the highest
market share in 2022, accounting for more than one-fourth of the
global decentralized finance market revenue. Owing to
the emergence of decentralized autonomous
organizations (DAOs) that rely on community-governed
decision-making further emphasizes the importance of data-driven
insights. Access to accurate data empowers users to make educated
decisions, attracting more participants to DeFi and
increasing overall market activity, which is driving the growth of
the market. However, the payments segment is expected to maintain
its lead position during the forecast period. The same segment
would also showcase the fastest CAGR of 47.9% from 2022 to 2032.
The growth is attributed to their transparency, security, and
efficiency. Smart contracts automate payment processes and reduce
human error. Cross-chain interoperability enables seamless
transactions across different blockchain networks. In addition,
decentralized lending and borrowing platforms within
the DeFi ecosystem enable users to earn interest on
their holdings or access liquidity, further enhancing the payment
experience.
Buy This Report (336 Pages PDF with Insights, Charts, Tables,
and Figures): https://bit.ly/3ReaahX
Asia-Pacific to maintain its
dominance by 2032-
By region, North America held
the highest market share in 2022, contributing to nearly two-fifths
of the global decentralized finance market revenue.
The emergence of Decentralized Autonomous
Organizations (DAOs) is gaining traction, creating opportunities
for community-driven decision-making and investment strategies.
These DAOs are powered by blockchain technology, allowing
participants to have a direct say in the management and direction
of projects. This concept has the potential to revolutionize
corporate governance and investor engagement. However, the
Asia-Pacific region is expected to
maintain its dominance throughout the forecast period. The same
region would also portray the fastest CAGR of 47.3% from 2023 to
2032. Due to the increasing adoption of blockchain technology and
cryptocurrencies, driven by a youthful and tech-savvy
population. This has spurred interest in DeFi
platforms that offer financial services without intermediaries,
such as lending, borrowing, and trading, which can be particularly
appealing in countries with underdeveloped traditional banking
systems.
Leading Market Players: -
- Accenture
- Binance
- BlockFi
- Coinbase
- Compound Labs, Inc.
- Gemini Trust Company, LLC.
- IBM Corporation
- Payward, Inc.
- RisingMax
- TATA Consultancy Services Limited
The report provides a detailed analysis of these key players in
the global decentralized finance market. These players
have adopted different strategies such as expansion, merger, and
product launches to increase their market share and maintain
dominant shares in different regions. The report is valuable in
highlighting business performance, operating segments, product
portfolio, and strategic moves of market players to showcase the
competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market
segments, current trends, estimations, and dynamics of the
decentralized finance market forecast from 2022 to
2032 to identify the prevailing decentralized finance
market opportunity.
- Market research is offered along with information related to
key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers
and suppliers to enable stakeholders to make profit-oriented
business decisions and strengthen their supplier-buyer
network.
- In-depth analysis of the decentralized finance
market segmentation assists to determine the prevailing market
opportunities.
- Major countries in each region are mapped according to their
revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides
a clear understanding of the present position of the market
players.
- The report includes an analysis of the regional as well as
global decentralized finance market trends, key
players, market segments, application areas, and market growth
strategies.
Decentralized Finance Market Report
Highlights:
By Component
- Blockchain Technology
- Decentralized Applications
(dApps)
- Smart Contracts
By Application
- Decentralized Exchanges
- Compliance and Identity
- Marketplaces and Liquidity
- Payments
- Data and Analytics
- Others
By Region
- North America (U.S.,
Canada)
- Europe (UK,
Germany, France, Italy, Spain,
Rest of Europe)
- Asia-Pacific
(China, Japan, India,
Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America,
Middle East, Africa)
Key Market Players : Payward, Inc., Accenture, IBM
Corporation, Compound Labs, Inc., Tata Consultancy Services
Limited, Binance Limited, RisingMax, Gemini Trust
Company, LLC., Coinbase, BlockFi
Want to Access the Statistical Data and Graphs, Key Players'
Strategies:
https://www.alliedmarketresearch.com/decentralized-finance-market/purchase-options
Trending Reports in BFSI Industry (Book Now with 10% Discount
+ COVID-19 Scenario)
Personal Finance Software Market by Product Type
(Web-based Software, Mobile-based Software), by End User (Small
Businesses Users, Individual Consumers): Global Opportunity
Analysis and Industry Forecast, 2023-203
Healthcare Finance Solutions Market by Equipment
Type (Imaging Equipment, Specialist Beds, Surgical Instruments,
Decontamination Equipment, IT Equipment), by Healthcare Facility
Type (Hospitals and Health Systems, Outpatient Imaging Centers,
Outpatient Surgery Centers, Diagnostic Laboratories, Others), by
Services (Equipment and Technology Finance, Working Capital
Finance, Project Finance Solution, Corporate Lending): Global
Opportunity Analysis and Industry Forecast, 2023-2032
Smart Finance Hardware Market by Type (Modules,
Sensors, Others), by End User (Bank and Financial Institutions,
Independent ATM Deployer): Global Opportunity Analysis and Industry
Forecast, 2021-2031
Sustainable Finance Market by Investment Type
(Equity, Fixed Income, Mixed Allocation, Others), by Transaction
Type (Green Bond, Social Bond, Mixed-sustainability Bond), by
Industry Verticals (Utilities, Transport and Logistics, Chemicals,
Food and Beverage, Government, Others): Global Opportunity Analysis
and Industry Forecast, 2021-2031
Household Finances Market by Type (Home Purchase, Land
Purchase, Construction, Others), by Interest Rate (Fixed Rate,
Floating Rate) and by Source (Public Private Bank, Non-Banking
Financial Institution (NBFC), Housing Finance Companies (HFC)):
Global Opportunity Analysis and Industry Forecast, 2023-2032
About Us
Allied Market Research (AMR) is a full-service market research
and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market
Research provides global enterprises as well as medium and small
businesses with unmatched quality of "Market Research Reports" and
"Business Intelligence Solutions." AMR has a targeted view to
provide business insights and consulting to assist its clients to
make strategic business decisions and achieve sustainable growth in
their respective market domain.
We are in professional corporate relations with various
companies and this helps us in digging out market data that helps
us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Allied Market Research CEO
Pawan Kumar is instrumental in
inspiring and encouraging everyone associated with the company to
maintain high quality of data and help clients in every way
possible to achieve success. Each and every data presented in the
reports published by us is extracted through primary interviews
with top officials from leading companies of domain concerned. Our
secondary data procurement methodology includes deep online and
offline research and discussion with knowledgeable professionals
and analysts in the industry.
Contact:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Logo:
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/decentralized-finance-market-to-reach-497-9-billion-globally-by-2032-at-43-4-cagr-allied-market-research-301917822.html
SOURCE Allied Market Research