Pune, India, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global decentralized finance technology market size was valued at USD 55.58 billion in 2022 and is projected to grow from USD 59.26 billion in 2023 to USD 337.04 billion by 2030, exhibiting a CAGR of 28.2% during the forecast period. MetaMask and Fireblocks Collaborate to Expand Web3 Wallet Capabilities. Fortune Business Insights presents this information in their report titled "Global Decentralized Finance Technology Market Forecast, 2023-2030."
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Decentralized finance (DeFi) technology utilizes blockchain-based distributed ledger technology to provide services such as investing, lending, and exchanging crypto assets in a decentralized manner, without relying on conventional centralized financing. Key market players are actively offering their solutions across diverse sectors, contributing to the growth of the DeFi market over the forecast period.
Key Industry Development:
June 2023 – MetaMask partnered with Fireblocks to integrate its web3 wallet for multi-custodial institutional and organizations web3 offering on the market. Fireblocks uses its platform to develop novel products on the blockchain and manage crypto operations.
Key Takeaways:
- Decentralized finance technology market size in North America was USD 31.65 billion in 2022
- Pandemic Impact on DeFi Market Lead to Innovation
- dApps Drives Dominance with User-Friendly Interfaces and Real-Time Monitoring
- BFSI Takes the Lead in Embracing DeFi for Enhanced Financial Inclusion
Discover the Leading Players Featured in the Report:
“Companies leading the global decentralized finance technology market Are Compound Labs, Inc. (U.S.), Dapper Labs, Inc. (Canada), Moon Pay Limited (U.S.), Hashflow (U.S.), Bancor Network (Switzerland), MetaMask (U.S.), Uniswap (U.S.), Aave (U.K.), SushiSwap (Japan), Synthetix (Australia) “
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 28.2% |
| 2030 Value Projection | USD 337.04 Billion |
| Base Year | 2022 |
| Decentralized Finance Technology Market Size in 2022 | USD 55.58 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | Component, Application, Industry, and Region |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/decentralized-finance-technology-market-107823
Drivers and Restraints:
DeFi Technology Empowering Financial Independence and Driving Market Growth
DeFi technology enables users to verify and audit transactions, ensuring transparency and fostering the development of decentralized analytics and auditing tools. By empowering individuals to have control over their finances and participate in a wide range of financial activities without relying on centralized authorities, DeFi is expected to drive the decentralized finance technology market growth during the estimated period.
However, the presence of weaknesses in smart contracts, code exploits, or attacks targeting the underlying blockchain networks can result in significant financial losses.
Segmentation:
By Component
- Decentralized Applications (dApps)
- Smart Contracts
By Application
- Asset Management
- Compliance and KYT
- Data Analytics
- Payments
- Gaming
By Industry
- BFSI
- Retail & E-commerce
- Media & Entertainment
- Automotive
- Others (Real Estate)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America Leads as the U.S. Drives Growth with Active Participation in DeFi Projects
North America is poised to be a major player in the DeFi technology market, with the U.S. driving significant growth through active participation in DeFi projects. The region's advanced technology and digital infrastructure contribute to its strong market presence.
Asia Pacific is expected to lead the growth in the market, driven by China, Japan, and Singapore, known for their innovation and supportive regulatory environment.
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Competitive Landscape:
Market Leaders Harnessing Technology and Collaboration for Innovation and Growth
Leading decentralized finance technology players are making substantial investments in cutting-edge technologies, such as artificial intelligence, blockchain, cloud computing, and machine learning, to enhance the capabilities of their platforms and drive innovation. Additionally, these industry leaders are strategically engaging in mergers, acquisitions, collaborations, and partnerships to further expand their decentralized finance technology market share and deliver enhanced solutions to their customers.
FAQs
How big is the decentralized finance technology Market?
The decentralized finance technology market size was USD 55.58 billion in 2022. It is expected to reach USD 337.04 billion by 2030.
How fast is the decentralized finance technology market growing?
The decentralized finance technology market will exhibit a CAGR of 28.2% during the forecast period, 2023-2030.
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