A surge in FinTech spending is expected to increase the global blockchain technology market in banking, financial service and insurance (BFSI) by $4.02 Billion in 2026. according ReportLinker
Market is forecast to experience a 36.6% compound annual growth rate (CAGR), during the 2022-2026 forecast period.
Artificial intelligence (AI), which has been introduced to the market for blockchain technology in the BFSI industry, is expected be a key driver.
The market will be impacted by quantum computing and blockchain services, which are growing rapidly. The report included the following:
“The market is driven by the increase in FinTech spending, easier access to technology, and disintermediation of banking services.”
This report examines key parameters like pricing, profit, competition and promotions to help companies position themselves in the market.
Ripple Labs Inc. is one of the major players in the BFSI blockchain technology market. Tata Consultancy Services Ltd., Oracle Corp., Hewlett Packard Enterprise Co. and Microsoft Corp. are also key players.
The market was segmented into a consortium, private and. Public blockchains You can filter your search by type to gain more insight.
According to Facts & Factors, there is a rising demand for blockchain technology in the retail sector, which will drive its value to the $3.27 trillion mark by 2028.
The role of blockchain in showing exact locations and their reliability is a key reason why retailers are likely to continue using this technology.
Factors and Factors stated that global growth in blockchain-based retail solutions will be fueled by the need for increased transparency and better transactional security.
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