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市場調查報告書
商品編碼
2058815
去中心化金融(DeFi)和代幣化資產市場預測至2034年——按組件、類型、資產類別、區塊鏈類型、應用、最終用戶和地區分類的全球分析Decentralized Finance (DeFi) & Tokenized Assets Market Forecasts to 2034 - Global Analysis By Component (Platforms and Services), Type, Asset Class, Blockchain Type, Application, End User and By Geography |
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根據 Stratistics MRC 的預測,全球去中心化金融 (DeFi) 和代幣化資產市場預計將在 2026 年達到 750 億美元,在預測期內以 22.0% 的複合年成長率成長,到 2034 年達到 3,650 億美元。
去中心化金融 (DeFi) 和代幣化資產是基於區塊鏈的金融生態系統,它們利用智慧合約實現借貸、交易和投資,從而消除銀行等中介機構。代幣化資產是將現實世界或數位資產轉換為區塊鏈上的代幣,從而提高流動性、透明度和可訪問性。它們共同創建了一個開放、無需許可的系統,使用戶能夠在全球市場中實現持分所有權、快速交易和創新金融服務,同時保留對其資金的控制權。
機構投資者對代幣化現實世界資產和 DeFi 協議的採用率不斷提高。
機構投資人對去中心化金融(DeFi)的參與度日益提高,正成為推動市場擴張的變革性動力。大型金融機構、資產管理公司和主權財富基金正積極探索將包括房地產、私募股權和固定收益產品在內的現實世界資產代幣化,以提高流動性、縮短結算時間並擴大投資者的參與管道。 DeFi基礎設施的日趨成熟,包括完善的智慧合約審計和受監管的去中心化交易所,正在降低機構投資者的准入門檻。傳統金融與區塊鏈原生協議的融合,正在從根本上重塑全球資本市場的運作方式。
監管的不確定性和不斷變化的全球合規框架
由於主要金融管轄區監管政策的模糊性,去中心化金融(DeFi)和代幣化資產市場持續面臨巨大的成長瓶頸。各國政府和監管機構正努力在現有法律體制內確定如何對去中心化協議、代幣化證券和穩定幣進行分類和監管。從全面監管到實驗性沙盒框架,各種不一致的做法為參與企業帶來了合規的不確定性。某些DeFi代幣可能被歸類為證券,這將引發廣泛的報告和許可義務;而區塊鏈交易的匿名性則使KYC(了解你的客戶)和AML(反洗錢)合規變得更加複雜,從而阻礙了機構投資者的進入。
透過代幣化實現另類資產類別的民主化
代幣化為實現傳統上流動性差、進入門檻高的資產類別(例如商業房地產、私募股權、基礎設施和藝術品)的民主化提供了前所未有的機會。透過將所有權拆分為可在區塊鏈網路上交易的數位代幣,這些資產得以被資本有限的個人投資者所獲取。這種結構性轉變有望釋放數兆美元先前難以觸及的財富。隨著數位證券機構框架的不斷完善,整合了受監管代幣化框架和方便用戶使用界面的去中心化金融(DeFi)平台有望在蓬勃發展的代幣化資產管理市場中佔據重要佔有率。
智慧合約漏洞和協定利用風險
DeFi 生態系統仍極易受到智慧合約濫用的攻擊,導致多個協定損失數十億美元。由於區塊鏈程式碼的開放原始碼和不可篡改性,一旦部署,若缺乏複雜的管治流程,修復漏洞將十分困難。老練的攻擊者不斷審查 DeFi 協議,尋找邏輯錯誤、重入漏洞和閃電貸攻擊途徑。高調的濫用事件會削弱投資人信心,加劇監管審查,並扼殺創新。儘管審計實務和漏洞賞金計畫有所改進,但仍無法提供絕對保障,協議災難性故障的風險仍然是市場面臨的持續威脅。
新冠疫情反而加速了去中心化金融(DeFi)生態系統的發展,它凸顯了中心化金融體系的脆弱性,並將資金引導至其他收益型金融產品。隨著各國央行實施前所未有的貨幣寬鬆政策,投資人開始尋求傳統市場無法提供的抗通膨資產和去中心化收益機會。疫情期間個人投資活動的激增,使數百萬新用戶首次接觸DeFi協議。儘管危機期間的市場波動暴露了DeFi過度槓桿的風險,但總體而言,疫情加速了區塊鏈的普及,並強化了人們對去中心化金融基礎設施的長期看法。
在預測期內,平台細分市場預計將成為規模最大的細分市場。
平台板塊預計將在去中心化金融(DeFi)和代幣化資產市場中佔據最大佔有率。這主要歸功於DeFi協議和代幣化平台作為底層基礎設施,在支撐所有市場活動方面發揮著至關重要的作用。這些平台為去中心化生態系統內的借貸、交易、資產管理和結算作業提供了技術基礎。 DeFi協議總鎖定價值(TVL)的持續成長,以及機構對代幣化基礎設施日益成長的需求,都鞏固了該板塊的持續主導地位。
預計在預測期內,服務業板塊將實現最高的複合年成長率。
預計服務板塊將在預測期內實現最高的複合年成長率。這反映出,隨著機構投資者湧入去中心化金融(DeFi)和代幣化領域,對專家諮詢、整合和部署技術的需求日益成長。在企業內部實施基於區塊鏈的金融基礎設施需要大量的客製化、合規性要求以及與舊有系統的技術整合,而這些需求只有專業的服務供應商才能滿足。
在預測期內,北美預計將佔據最大的市場佔有率,這主要得益於其作為區塊鏈創新中心的地位、機構級DeFi協議以及創業投資投資對數位資產基礎設施的集中投入。美國匯聚了許多世界領先的DeFi協議開發人員和代幣化平台提供者。尤其值得一提的是,數位證券和代幣化基金相關監管的日益清晰,使得機構投資者能夠充分利用DeFi生態系統。此外,成熟的投資者群體、完善的加密資產託管基礎設施以及健全的法律體制,進一步鞏固了北美在市場上的主導地位。
在預測期內,亞太地區預計將呈現最高的複合年成長率。這主要得益於新加坡、日本、香港和澳洲積極主動的法規結構,這些框架為代幣化資產發行和參與去中心化金融(DeFi)鋪平了合規之路。該地區龐大的銀行帳戶人口和極高的行動網路普及率,使得DeFi成為傳統金融服務的可行替代方案。機構投資者的積極參與體現在該地區主要金融中心推出的數位資產沙盒計畫和代幣化債券試點計畫。此外,東南亞地區Web3原生新創企業的蓬勃發展,也推動了DeFi領域的創新與使用者成長。
According to Stratistics MRC, the Global Decentralized Finance (DeFi) & Tokenized Assets Market is accounted for $75.0 billion in 2026 and is expected to reach $365.0 billion by 2034 growing at a CAGR of 22.0% during the forecast period. Decentralized Finance (DeFi) and tokenized assets are a blockchain-based financial ecosystem that eliminates intermediaries like banks by using smart contracts to enable lending, trading, and investing. Tokenized assets represent real-world or digital assets converted into blockchain tokens, improving liquidity, transparency, and accessibility. Together, they create an open, permissionless system where users retain control over funds while enabling fractional ownership, faster transactions, and innovative financial services across global markets for users worldwide in a manner.
Growing institutional adoption of tokenized real-world assets and DeFi protocols
The increasing participation of institutional investors in decentralized finance is emerging as a transformative driver of market expansion. Major financial institutions, asset managers, and sovereign wealth funds are actively exploring tokenization of real-world assets including real estate, private equity, and fixed income instruments to enhance liquidity, reduce settlement times, and broaden investor access. The maturation of DeFi infrastructure, including robust smart contract auditing and regulatory-compliant decentralized exchanges, is lowering barriers for institutional entry. This convergence of traditional finance and blockchain-native protocols is fundamentally redefining capital market operations globally.
Regulatory uncertainty and evolving global compliance frameworks
The DeFi and tokenized assets market continues to face significant growth constraints due to regulatory ambiguity across major financial jurisdictions. Governments and regulatory bodies are grappling with how to classify and oversee decentralized protocols, tokenized securities, and stablecoins within existing legal frameworks. Inconsistent approaches ranging from outright restrictions to exploratory sandbox frameworks create compliance uncertainty for market participants. The potential classification of certain DeFi tokens as securities triggers extensive reporting and licensing obligations, while the pseudonymous nature of blockchain transactions complicates KYC and AML compliance, deterring institutional participation.
Democratization of alternative asset classes through tokenization
Tokenization presents an unprecedented opportunity to democratize access to historically illiquid and high-threshold asset classes such as commercial real estate, private equity, infrastructure, and fine art. By fractionalizing ownership into digital tokens tradeable on blockchain networks, these assets become accessible to retail investors with minimal capital. This structural shift has the potential to unlock trillions of dollars in previously inaccessible wealth. DeFi platforms that integrate regulatory-compliant tokenization frameworks with user-friendly interfaces are poised to capture a significant share of the emerging tokenized asset management market, particularly as institutional frameworks for digital securities continue to mature.
Smart contract vulnerabilities and protocol exploit risks
The DeFi ecosystem remains highly vulnerable to smart contract exploits, which have resulted in billions of dollars in losses across multiple protocols. The open-source, immutable nature of blockchain code means that once deployed, vulnerabilities are difficult to patch without complex governance procedures. Sophisticated attackers continuously probe DeFi protocols for logic errors, reentrancy vulnerabilities, and flash loan attack vectors. High-profile exploits erode investor confidence and attract increased regulatory scrutiny, potentially stifling innovation. While audit practices and bug bounty programs have improved, they cannot provide absolute guarantees, and the risk of catastrophic protocol failure remains a persistent market threat.
The COVID-19 pandemic paradoxically accelerated the growth of the DeFi ecosystem by highlighting the fragility of centralized financial systems and driving capital toward alternative yield-generating instruments. As central banks implemented unprecedented monetary stimulus, investors sought inflation-resistant assets and decentralized yield opportunities unavailable in traditional markets. The surge in retail investment activity during the pandemic introduced millions of new users to DeFi protocols for the first time. Although market volatility during the crisis exposed the risks of over-leveraged DeFi positions, the overall experience accelerated blockchain adoption and validated the long-term thesis for decentralized financial infrastructure.
The platforms segment is expected to be the largest during the forecast period
The platforms segment is expected to command the largest share of the DeFi and tokenized assets market, driven by the critical role of DeFi protocols and tokenization platforms as the underlying infrastructure enabling all market activity. These platforms provide the technical foundation for lending, trading, asset management, and settlement operations within decentralized ecosystems. The continuous expansion of DeFi protocol total value locked, combined with growing institutional demand for tokenization infrastructure, underpins the sustained dominance of this segment.
The services segment is expected to have the highest CAGR during the forecast period
The services segment is anticipated to record the highest CAGR throughout the forecast period, reflecting the growing need for specialized consulting, integration, and deployment expertise as institutional participants enter the DeFi and tokenization space. Enterprise adoption of blockchain-based financial infrastructure requires significant customization, regulatory mapping, and technical integration with legacy systems capabilities that specialized service providers are uniquely positioned to deliver.
During the forecast period, the North America region is expected to hold the largest market share, driven by a concentration of blockchain innovation hubs, institutional-grade DeFi protocols, and venture capital investment in digital asset infrastructure. The United States is home to many of the world's leading DeFi protocol developers and tokenization platform providers. Growing regulatory clarity, particularly around digital securities and tokenized funds, is enabling institutional deployment of capital into DeFi ecosystems. The presence of sophisticated investors, mature crypto custody infrastructure, and strong legal frameworks collectively reinforce North America's leading market position.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, propelled by proactive regulatory frameworks in Singapore, Japan, Hong Kong, and Australia that are creating compliant pathways for tokenized asset issuance and DeFi participation. The region's large unbanked population and high mobile internet penetration position DeFi as a viable alternative to traditional financial services. Major financial centers in the region are launching digital asset sandbox programs and tokenized bond pilots, signaling strong institutional commitment. Additionally, the growth of Web3-native startups across Southeast Asia is generating significant DeFi innovation and user adoption.
Key players in the market
Some of the key players in Decentralized Finance (DeFi) & Tokenized Assets Market include Aave, Uniswap Labs, MakerDAO, Curve Finance, Compound Labs, Lido Finance, Synthetix, ConsenSys, Circle Internet Financial, Tether Operations, Polygon Labs, Solana Foundation, Tron DAO, StarkWare, and Centrifuge.
In April 2026, Aave launched an institutional-grade DeFi lending module compliant with EU regulatory standards, enabling licensed financial institutions to participate directly in on-chain lending markets with built-in KYC/AML verification and programmable credit risk management controls.
In February 2026, Centrifuge partnered with a major European asset manager to tokenize a portfolio of private credit assets worth over $500 million, marking one of the largest real-world asset tokenization transactions to date and demonstrating growing institutional confidence in on-chain capital markets infrastructure.
Note: Tables for North America, Europe, APAC, South America, and Rest of the World (RoW) are also represented in the same manner as above.