Product Code: GVR-4-68039-990-9
Blockchain in Retail Banking Market Growth & Trends:
The global blockchain in retail banking market size is expected to reach USD 140.26 billion by 2030, advancing at a CAGR of 83.9% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The rise in the fintech industry, the IT industry revolution, the rise in competition, and evolving customer expectations are some of the reasons that are driving the market growth. Retail banks are focusing on adopting digital transformation and advanced technologies to streamline their business process and customer offerings, which bodes well for the adoption of blockchain in retail banking.
Blockchain technology uses distributed, decentralized ledger that records transactions across many networks, which cannot be altered once registered. This provides banks with the necessary infrastructure to maintain their data confidentiality, real-time information, and payment transactions. Additionally, no single entity controls the ledger and every time a transaction is added, everyone on the network gets a copy of it. This provides the utmost transparency to retail banks, contributing to the market's growth.
Blockchain technology also facilitates real-time payments, enabling users to make payments 24/7. Adopting this technology helps banks save on costs and meet the latest security standards while providing a sophisticated customer experience. Leading banks across the globe are adopting blockchain for operational efficiency, which is anticipated to boost the demand for these platforms, further propelling the industry's growth.
The COVID-19 outbreak played a crucial role in the development of blockchain in the retail banking market. Significant banks and non-banking financial corporations in the retail segment have shifted from traditional technologies to digital infrastructure. Thus, market leaders' introduction of advanced blockchain financial software in retail banking and increasing digital infrastructure fueled during the pandemic are some critical factors contributing to the market's growth.
Blockchain in Retail Banking Market Report Highlights:
- The hybrid segment is expected to witness significant growth over the forecast period. Hybrid blockchain combines the benefits provided by both public and private blockchains. It allows retail banks to establish a private-permission-based system, with data stored on the blockchain being administered and public, contributing to the segment's growth
- The application & solution segment is expected to witness significant growth over the forecast period. Blockchain provides applications & solutions, which include remittance, KYC, and fraud detection, enhancing retail banks' business processes. The extensive end use of these applications & solutions is flourishing the segment's growth
- The large enterprise segment dominated the market in 2021 and is expected to witness significant growth over the forecast period. Large enterprises deal with enormous amounts of data that must be processed, verified, and streamlined for better employee and consumer experience. Blockchain provides all these benefits, which are driving the segment's growth
- The remittances segment is expected to register significant growth over the forecast period. Some of the challenges faced by traditional remittance services include higher processing time and higher service costs. Blockchain eliminates these roadblocks and provides real-time remittance at a lower price, which is expected to drive the segment's growth
- Asia Pacific is expected to register rapid growth during the forecast period. The region is a hotspot for technologically inclined youth, who are more adaptable to technologies. Additionally, the favorable government initiatives to promote blockchain and many retail banks adopting advanced technologies to offer enhanced customer experience are driving the region's growth
Table of Contents
Chapter 1 Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope and Assumptions
- 1.3. List of Data Sources
Chapter 2 Executive Summary
- 2.1. Blockchain in Retail Banking Market - Industry Snapshot & Key Buying Criteria, 2017 - 2030
- 2.2. Global Blockchain in Retail Banking Market, 2017 - 2030
- 2.2.1. Global blockchain in retail banking market, by region, 2017 - 2030
- 2.2.2. Global blockchain in retail banking market, by type, 2017 - 2030
- 2.2.3. Global blockchain in retail banking market, by component, 2017 - 2030
- 2.2.4. Global blockchain in retail banking market, by enterprise size, 2017 - 2030
- 2.2.5. Global blockchain in retail banking market, by application, 2017 - 2030
Chapter 3 Blockchain in Retail Banking Industry Outlook
- 3.1. Market Segmentation and Scope
- 3.2. Market Size and Growth Prospects
- 3.3. Blockchain in Retail Banking Market - Value Chain Analysis
- 3.4. Blockchain in Retail Banking Market - Market Dynamics
- 3.4.1. Market driver analysis
- 3.4.1.1. Growing demand for blockchain technology in the financial industry
- 3.4.1.2. Advanced security provided by blockchain technology
- 3.4.2. Market challenge analysis
- 3.4.2.1. Regulatory concerns
- 3.5. Blockchain in Retail Banking Market - Porter's Five Forces Analysis
- 3.6. Blockchain in Retail Banking Market - PESTEL Analysis
Chapter 4 Investment Landscape
- 4.1. Investments Raised by Companies
- 4.2. Investment Strategies by Companies
- 4.3. Blockchain in Retail Banking Investment Opportunities
- 4.4. Investors' Vision & Goal Analysis
Chapter 5 Blockchain in Retail Banking Type Outlook
- 5.1. Blockchain in Retail Banking Market Share By Type, 2021
- 5.2. Public
- 5.2.1. Public blockchain in retail banking market, 2017 - 2030
- 5.3. Private
- 5.3.1. Private blockchain in retail banking market, 2017 - 2030
- 5.4. Hybrid
- 5.4.1. Hybrid blockchain in retail banking market, 2017 - 2030
Chapter 6 Blockchain in Retail Banking Component Outlook
- 6.1. Blockchain in Retail Banking Market Share By Component, 2021
- 6.2. Application & Solution
- 6.2.1. Blockchain in retail banking application & solution market, 2017 - 2030
- 6.3. Infrastructure & Protocols
- 6.3.1. Blockchain in retail banking infrastructure & protocols market, 2017 - 2030
- 6.4. Middleware
- 6.4.1. Blockchain in retail banking middleware market, 2017 - 2030
Chapter 7 Blockchain in Retail Banking Enterprise Size Outlook
- 7.1. Blockchain in Retail Banking Market Share By Enterprise Size, 2021
- 7.2. Large Enterprises
- 7.2.1. Blockchain in retail banking market for large enterprises, 2017 - 2030
- 7.3. Small & Medium Enterprises
- 7.3.1. Blockchain in retail banking market for small & medium enterprises, 2017 - 2030
Chapter 8 Blockchain in Retail Banking Application Outlook
- 8.1. Blockchain in Retail Banking Market Share By Application, 2021
- 8.2. Remittances
- 8.2.1. Blockchain in retail banking market in remittances, 2017 - 2030
- 8.3. KYC & Fraud Prevention
- 8.3.1. Blockchain in retail banking market in KYC & fraud prevention, 2017 - 2030
- 8.4. Risk Assessment
- 8.4.1. Blockchain in retail banking market in risk assessment, 2017 - 2030
Chapter 9 Blockchain in Retail Banking Regional Outlook
- 9.1. Blockchain in Retail Banking Market Share By Region, 2021
- 9.2. North America
- 9.2.1. North America blockchain in retail banking market, 2017 - 2030
- 9.2.2. North America blockchain in retail banking market, by type, 2017 - 2030
- 9.2.3. North America blockchain in retail banking market, by component, 2017 - 2030
- 9.2.4. North America blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.2.5. North America blockchain in retail banking market, by application, 2017 - 2030
- 9.2.6. U.S.
- 9.2.6.1. U.S. blockchain in retail banking market, 2017 - 2030
- 9.2.6.2. U.S. blockchain in retail banking market, by type, 2017 - 2030
- 9.2.6.3. U.S. blockchain in retail banking market, by component, 2017 - 2030
- 9.2.6.4. U.S. blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.2.6.5. U.S. blockchain in retail banking market, by application, 2017 - 2030
- 9.2.7. Canada
- 9.2.7.1. Canada blockchain in retail banking market, 2017 - 2030
- 9.2.7.2. Canada blockchain in retail banking market, by type, 2017 - 2030
- 9.2.7.3. Canada blockchain in retail banking market, by component, 2017 - 2030
- 9.2.7.4. Canada blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.2.7.5. Canada blockchain in retail banking market, by application, 2017 - 2030
- 9.3. Europe
- 9.3.1. Europe blockchain in retail banking market, 2017 - 2030
- 9.3.2. Europe blockchain in retail banking market, by type, 2017 - 2030
- 9.3.3. Europe blockchain in retail banking market, by component, 2017 - 2030
- 9.3.4. Europe blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.5. Europe blockchain in retail banking market, by application, 2017 - 2030
- 9.3.6. Germany
- 9.3.6.1. Germany blockchain in retail banking market, 2017 - 2030
- 9.3.6.2. Germany blockchain in retail banking market, by type, 2017 - 2030
- 9.3.6.3. Germany blockchain in retail banking market, by component, 2017 - 2030
- 9.3.6.4. Germany blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.6.5. Germany blockchain in retail banking market, by application, 2017 - 2030
- 9.3.7. U.K.
- 9.3.7.1. U.K. blockchain in retail banking market, 2017 - 2030
- 9.3.7.2. U.K. blockchain in retail banking market, by type, 2017 - 2030
- 9.3.7.3. U.K. blockchain in retail banking market, by component, 2017 - 2030
- 9.3.7.4. U.K. blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.7.5. U.K. blockchain in retail banking market, by application, 2017 - 2030
- 9.3.8. Italy
- 9.3.8.1. Italy blockchain in retail banking market, 2017 - 2030
- 9.3.8.2. Italy blockchain in retail banking market, by type, 2017 - 2030
- 9.3.8.3. Italy blockchain in retail banking market, by component, 2017 - 2030
- 9.3.8.4. Italy blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.8.5. Italy blockchain in retail banking market, by application, 2017 - 2030
- 9.3.9. France
- 9.3.9.1. France blockchain in retail banking market, 2017 - 2030
- 9.3.9.2. France blockchain in retail banking market, by type, 2017 - 2030
- 9.3.9.3. France blockchain in retail banking market, by component, 2017 - 2030
- 9.3.9.4. France blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.9.5. France blockchain in retail banking market, by application, 2017 - 2030
- 9.3.10. Spain
- 9.3.10.1. Spain blockchain in retail banking market, 2017 - 2030
- 9.3.10.2. Spain blockchain in retail banking market, by type, 2017 - 2030
- 9.3.10.3. Spain blockchain in retail banking market, by component, 2017 - 2030
- 9.3.10.4. Spain blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.3.10.5. Spain blockchain in retail banking market, by application, 2017 - 2030
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific blockchain in retail banking market, 2017 - 2030
- 9.4.2. Asia Pacific blockchain in retail banking market, by type, 2017 - 2030
- 9.4.3. Asia Pacific blockchain in retail banking market, by component, 2017 - 2030
- 9.4.4. Asia Pacific blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.5. Asia Pacific blockchain in retail banking market, by application, 2017 - 2030
- 9.4.6. China
- 9.4.6.1. China blockchain in retail banking market, 2017 - 2030
- 9.4.6.2. China blockchain in retail banking market, by type, 2017 - 2030
- 9.4.6.3. China blockchain in retail banking market, by component, 2017 - 2030
- 9.4.6.4. China blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.6.5. China blockchain in retail banking market, by application, 2017 - 2030
- 9.4.7. India
- 9.4.7.1. India blockchain in retail banking market, 2017 - 2030
- 9.4.7.2. India blockchain in retail banking market, by type, 2017 - 2030
- 9.4.7.3. India blockchain in retail banking market, by component, 2017 - 2030
- 9.4.7.4. India blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.7.5. India blockchain in retail banking market, by application, 2017 - 2030
- 9.4.8. Japan
- 9.4.8.1. Japan blockchain in retail banking market, 2017 - 2030
- 9.4.8.2. Japan blockchain in retail banking market, by type, 2017 - 2030
- 9.4.8.3. Japan blockchain in retail banking market, by component, 2017 - 2030
- 9.4.8.4. Japan blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.8.5. Japan blockchain in retail banking market, by application, 2017 - 2030
- 9.4.9. South Korea
- 9.4.9.1. South Korea blockchain in retail banking market, 2017 - 2030
- 9.4.9.2. South Korea blockchain in retail banking market, by type, 2017 - 2030
- 9.4.9.3. South Korea blockchain in retail banking market, by component, 2017 - 2030
- 9.4.9.4. South Korea blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.9.5. South Korea blockchain in retail banking market, by application, 2017 - 2030
- 9.4.10. Australia
- 9.4.10.1. Australia blockchain in retail banking market, 2017 - 2030
- 9.4.10.2. Australia blockchain in retail banking market, by type, 2017 - 2030
- 9.4.10.3. Australia blockchain in retail banking market, by component, 2017 - 2030
- 9.4.10.4. Australia blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.4.10.5. Australia blockchain in retail banking market, by application, 2017 - 2030
- 9.5. Latin America
- 9.5.1. Latin America blockchain in retail banking market, 2017 - 2030
- 9.5.2. Latin America blockchain in retail banking market, by type, 2017 - 2030
- 9.5.3. Latin America blockchain in retail banking market, by component, 2017 - 2030
- 9.5.4. Latin America blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.5.5. Latin America blockchain in retail banking market, by application, 2017 - 2030
- 9.5.6. Brazil
- 9.5.6.1. Brazil blockchain in retail banking market, 2017 - 2030
- 9.5.6.2. Brazil blockchain in retail banking market, by type, 2017 - 2030
- 9.5.6.3. Brazil blockchain in retail banking market, by component, 2017 - 2030
- 9.5.6.4. Brazil blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.5.6.5. Brazil blockchain in retail banking market, by application, 2017 - 2030
- 9.5.7. Mexico
- 9.5.7.1. Mexico blockchain in retail banking market, 2017 - 2030
- 9.5.7.2. Mexico blockchain in retail banking market, by type, 2017 - 2030
- 9.5.7.3. Mexico blockchain in retail banking market, by component, 2017 - 2030
- 9.5.7.4. Mexico blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.5.7.5. Mexico blockchain in retail banking market, by application, 2017 - 2030
- 9.6. MEA
- 9.6.1. MEA blockchain in retail banking market, 2017 - 2030
- 9.6.2. MEA blockchain in retail banking market, by type, 2017 - 2030
- 9.6.3. MEA blockchain in retail banking market, by component, 2017 - 2030
- 9.6.4. MEA blockchain in retail banking market, by enterprise size, 2017 - 2030
- 9.6.5. MEA blockchain in retail banking market, by application, 2017 - 2030
Chapter 10 Competitive Analysis
- 10.1. Recent Developments and Impact Analysis, by Key Market Participants
- 10.2. Company Categorization
- 10.3. Vendor Landscape
- 10.3.1. Key company market share analysis, 2021
- 10.4. Company Analysis Tools
- 10.4.1. Company market position analysis
- 10.4.2. Competitive dashboard analysis
Chapter 11 Competitive Landscape
- 11.1. Unicsoft
- 11.1.1. Company overview
- 11.1.2. Financial performance
- 11.1.3. Product benchmarking
- 11.1.4. Strategic initiatives
- 11.2. Accenture plc
- 11.2.1. Company overview
- 11.2.2. Financial performance
- 11.2.3. Product benchmarking
- 11.2.4. Strategic initiatives
- 11.3. Cognizant technology solutions corp.
- 11.3.1. Company overview
- 11.3.2. Financial performance
- 11.3.3. Product benchmarking
- 11.3.4. Strategic initiatives
- 11.4. International Business Machines Corporation (IBM)
- 11.4.1. Company overview
- 11.4.2. Financial performance
- 11.4.3. Product benchmarking
- 11.4.4. Strategic initiatives
- 11.5. Microsoft Corporation
- 11.5.1. Company overview
- 11.5.2. Financial performance
- 11.5.3. Product benchmarking
- 11.5.4. Strategic initiatives
- 11.6. Digital Asset Holdings, LLC
- 11.6.1. Company overview
- 11.6.2. Financial performance
- 11.6.3. Product benchmarking
- 11.6.4. Strategic initiatives
- 11.7. Tata Consultancy Services (TCS)
- 11.7.1. Company overview
- 11.7.2. Financial performance
- 11.7.3. Product benchmarking
- 11.7.4. Strategic initiatives
- 11.8. Axoni (SCHVEY, INC.)
- 11.8.1. Company overview
- 11.8.2. Financial performance
- 11.8.3. Product benchmarking
- 11.8.4. Strategic initiatives
- 11.9. Ping An Insurance (Group) Company of China, Ltd.
- 11.9.1. Company overview
- 11.9.2. Financial performance
- 11.9.3. Product benchmarking
- 11.9.4. Strategic initiatives
- 11.10. Santander Bank, N. A.
- 11.10.1. Company overview
- 11.10.2. Financial performance
- 11.10.3. Product benchmarking
- 11.10.4. Strategic initiatives