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ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific Fintech Blockchain Market by Organization Size (Large Enterprises, Small and Medium-sized Enterprises) Market by End-user (Banking, Non-banking Financial Services, Insurance) Market by Blockchain Type (Private, Public, Hybrid) Market by Provider (Application and Solution Providers, Middleware Providers, Infrastructure and Protocol Providers) Market by Application ((Payments, Clearing, and Settlement), Exchanges and Remittance, Smart Contract, Identity Management, Compliance Management/ KYC, Other Applications) By Geography


MARKET OVERVIEW

The Asia-Pacific fintech blockchain market is estimated to surge with a 41.83% CAGR by the end of 2032, and is expected to generate a total of $xx million during the forecast period, 2023-2032

In Asia-Pacific, fintech blockchain finds its applications primarily in banking, non-banking financial services, and the insurance sector. Besides, the Asia-Pacific fintech blockchain market is expected to advance rapidly due to government efforts to promote blockchain technology and the increasing adoption of blockchain for digital identities, payments, and smart contracts. Hence, government funding to support blockchain projects is anticipated to boost the growth of the fintech blockchain market in Asia-Pacific.

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The Asia-Pacific fintech blockchain market growth evaluation includes the analysis of Australia, Japan, India, South Korea, China, and Rest of Asia-Pacific. In India, the adoption of blockchain technology in trade platforms and stock exchanges is increasing owing to its potential benefits, such as automating trade settlement leading to huge cost savings for financial institutions. Thus, financial institutions are widely adopting blockchain technology in the country. 

Also, as per India Brand Equity Foundation (IBEF), Finacle, a subsidiary of Infosys, and R3, an American startup building networks for financial transactions using blockchain technology, announced a partnership towards developing blockchain solutions for banking. This strategic partnership will further boost India’s fintech blockchain market growth.

The Asia-Pacific fintech blockchain market evaluation includes segmentation by application, provider, end-user, blockchain type, and organization size. Market by organization size covers large enterprises and small and medium sized enterprises.

Large enterprises deal with the adoption of blockchain technology across large enterprise segments, such as insurance companies, financial institutions, banks, etc. Further, large enterprises are deploying blockchain technology at a high pace to enhance their existing digital infrastructure, increase security, improve their overall performance, enhance process efficiency, reduce transaction costs in the value chain, and provide customer satisfaction. The use of blockchain technology by large enterprises across the globe would help improve business processes such as settlement, clearance, regulatory compliance, etc., promoting market growth during the forecast period.

Key companies operating in the Asia-Pacific fintech blockchain market include Accenture, Amazon Web Services (AWS), Auxesis Group, Microsoft Corporation, etc.

Auxesis Group was established in 2014 and primarily focused on developing blockchain solutions for the research and development of nascent technology in its initial stage of formation. Further, the company evolved and emerged as an enterprise-grade blockchain solution provider in India. The company’s special areas of services include fintech, IT consultancy, cyber security, blockchain technology, IT outsourcing, etc. The company delivers its expertise in various markets, including financial services, insurance, and the capital market. 

Also, the company is engaged in providing extensive solution services to the government, cross-border remittance, insurance solutions, supply chain networks, Internet of Things, etc. The company offers blockchain infrastructure Auxledger. Auxesis Group currently has a global workforce of around 200 employees and is headquartered in Mumbai, India. 

Auxy from Auxesis is a configurable blockchain-agnostic crypto wallet. It can stir and transfer tokens over addresses or nodes across a private or public blockchain.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Organization Size, End-User, Blockchain Type, Provider, and Application
Countries AnalyzedChina, Japan, India, South Korea, Australia, and Rest of Asia-Pacific
Companies AnalyzedAccenture, AlphaPoint, Amazon Web Services (AWS), Auxesis Group, Bitfury, BTL Group, Circle Internet Financial Limited, Coinbase, Digital Asset Holdings LLC, Earthport, International Business Machines Corporation, IO Inc, Microsoft Corporation, Oracle Corporation, Ripple Lab Inc, Tradle

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. REAL-TIME TRANSACTIONS VIA SMART CONTRACTS
      2. UPSURGE IN CRYPTOCURRENCY AND INITIAL COIN OFFERINGS
      3. ZERO-KNOWLEDGE EVIDENCE-BASED AUTHENTICATION ECOSYSTEMS
      4. INCREASING DEMAND FOR DISTRIBUTED LEDGER TECHNOLOGY (DLT)
      5. CONVENIENT CROSS-PAYMENT SOLUTIONS
    2. KEY RESTRAINTS
      1. INEFFICIENT BUILT-IN SECURITY FEATURES
      2. INABILITY TO SUPPORT THE EXTENSIVE COMMERCIAL APPLICATION
      3. INITIALIZATION, IMPLEMENTATION, AND MAINTENANCE COSTS
      4. CHALLENGES IN MODIFYING DATA
      5. STRINGENT REGULATIONS
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON FINTECH BLOCKCHAIN MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
    7. REGULATORY FRAMEWORK
  5. MARKET BY ORGANIZATION SIZE
    1. LARGE ENTERPRISES
    2. SMALL AND MEDIUM-SIZED ENTERPRISES
  6. MARKET BY END-USER
    1. BANKING
    2. NON-BANKING FINANCIAL SERVICES
    3. INSURANCE
  7. MARKET BY BLOCKCHAIN TYPE
    1. PRIVATE
    2. PUBLIC
    3. HYBRID
  8. MARKET BY PROVIDER
    1. APPLICATION AND SOLUTION PROVIDERS
    2. MIDDLEWARE PROVIDERS
    3. INFRASTRUCTURE AND PROTOCOL PROVIDERS
  9. MARKET BY APPLICATION
    1. PAYMENTS, CLEARING, AND SETTLEMENT
    2. EXCHANGES AND REMITTANCE
    3. SMART CONTRACT
    4. IDENTITY MANAGEMENT
    5. COMPLIANCE MANAGEMENT/ KYC
    6. OTHER APPLICATIONS
  10. GEOGRAPHICAL ANALYSIS 
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. CHINA
        2. JAPAN
        3. INDIA
        4. SOUTH KOREA
        5. AUSTRALIA 
        6. REST OF ASIA-PACIFIC
  11. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. ACCENTURE
      2. ALPHAPOINT
      3. AMAZON WEB SERVICES (AWS)
      4. AUXESIS GROUP
      5. BITFURY
      6. BTL GROUP
      7. CIRCLE INTERNET FINANCIAL LIMITED
      8. COINBASE
      9. DIGITAL ASSET HOLDINGS LLC
      10. EARTHPORT
      11. INTERNATIONAL BUSINESS MACHINES CORPORATION
      12. IO INC
      13. MICROSOFT CORPORATION
      14. ORACLE CORPORATION
      15. RIPPLE LAB INC
      16. TRADLE

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – FINTECH BLOCKCHAIN

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY END-USER, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY BLOCKCHAIN TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY BLOCKCHAIN TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY PROVIDER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY PROVIDER FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY APPLICATION FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 13: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 14: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 15: LEADING PLAYERS OPERATING IN ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET

TABLE 16: LIST OF MERGERS & ACQUISITIONS

TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, GROWTH POTENTIAL, BY ORGANIZATION SIZE, IN 2022

FIGURE 7: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY LARGE ENTERPRISES, 2023-2032 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY SMALL AND MEDIUM-SIZED ENTERPRISES, 2023-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, GROWTH POTENTIAL, BY END-USER, IN 2022 

FIGURE 10: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY BANKING, 2023-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY NON-BANKING FINANCIAL SERVICES, 2023-2032 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY INSURANCE, 2023-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, GROWTH POTENTIAL, BY BLOCKCHAIN TYPE, IN 2022 

FIGURE 14: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY PRIVATE, 2023-2032 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY PUBLIC, 2023-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY HYBRID, 2023-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, GROWTH POTENTIAL, BY PROVIDER, IN 2022 

FIGURE 18: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY APPLICATION AND SOLUTION PROVIDERS, 2023-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY MIDDLEWARE PROVIDERS, 2023-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY INFRASTRUCTURE AND PROTOCOL PROVIDERS, 2023-2032 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022 

FIGURE 22: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY PAYMENTS, CLEARING, AND SETTLEMENT, 2023-2032 (IN $ MILLION)

FIGURE 23: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY EXCHANGES AND REMITTANCE, 2023-2032 (IN $ MILLION)

FIGURE 24: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY SMART CONTRACT, 2023-2032 (IN $ MILLION)

FIGURE 25: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY IDENTITY MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 26: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY COMPLIANCE MANAGEMENT/ KYC, 2023-2032 (IN $ MILLION)

FIGURE 27: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 28: ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 29: CHINA FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

FIGURE 30: JAPAN FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

FIGURE 31: INDIA FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

FIGURE 32: SOUTH KOREA FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

FIGURE 33: AUSTRALIA FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

FIGURE 34: REST OF ASIA-PACIFIC FINTECH BLOCKCHAIN MARKET, 2023-2032 (IN $ MILLION)

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