Blockchain in Retail Banking Market

Global Blockchain in Retail Banking Market Size, Trends & Analysis - Forecasts to 2029 By Type (Public, Private, and Hybrid), By Component (Application & Solution, Infrastructure & Protocols, and Middleware), By Application (Remittances, Identity Management, Compliance Management, Payments and Smart Contracts, Fraud Prevention, and Others), and By Region (North America, Asia Pacific, Central and South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis

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This report was recently updated on November 15 2024 with the latest and most recent market numbers

Global Blockchain in Retail Banking Market Size

The global blockchain in retail banking market is estimated to exhibit a CAGR of 45.6% from 2024 to 2029.

The primary factors propelling the market growth are the increased demand for enhanced security and transparency in financial transactions and the growing adoption of digital currencies and decentralized finance (DeFi) solutions. Blockchain technology lowers the risk of fraud and unauthorized access by ensuring that every transaction is securely recorded through its decentralized and unchangeable ledger. This inherent security feature is highly appealing to both financial institutions and customers, as it guarantees a higher level of trust and protection in the face of rising cyber threats. Moreover, blockchain’s transparent nature allows for real-time tracking of transactions, enhancing accountability and providing customers with greater visibility over their financial activities. As consumers and businesses become more conscious of the importance of secure and transparent financial services, banks are increasingly integrating blockchain to meet these demands.

Government and regulatory support for blockchain innovation in financial services along with the push for faster cross-border payments and real-time transaction settlement are expected to support market growth. As governments worldwide recognize the potential of blockchain to improve financial system efficiency, reduce fraud, and enhance security, many are implementing supportive regulations to foster innovation. For example, regulatory bodies are developing frameworks to ensure that blockchain solutions in banking comply with legal standards, promoting a secure environment for their adoption. Initiatives such as regulatory sandboxes allow financial institutions to test blockchain applications in a controlled setting, accelerating technological advancements without the fear of non-compliance. This support also encourages investment in blockchain technology, leading to greater competition and adoption within the retail banking sector. Additionally, countries like the European Union and the United States have been actively exploring digital currencies and blockchain-based financial services, further solidifying the technology’s legitimacy and accelerating its widespread use in retail banking.

The rising integration of blockchain with other technologies like AI and IoT coupled with the growing trend of financial institutions adopting blockchain for KYC (know your customer) processes propel market growth. Blockchain's decentralized ledger complements AI's data processing and machine learning capabilities, allowing for advanced fraud detection, predictive analytics, and enhanced decision-making in financial transactions. AI can process large volumes of data securely on the blockchain, enabling real-time risk assessment, personalized financial services, and automated customer support through AI-powered chatbots. Meanwhile, the integration of IoT with blockchain allows for secure, real-time tracking of assets and transactions, such as for smart contracts or payments in connected devices. These combined technologies optimize operational efficiency, improve customer experiences, and ensure transparency in banking operations.

The adoption of blockchain-based smart contracts offers an opportunity to automate and enforce contractual agreements in retail banking, improving operational efficiency, reducing legal costs, and eliminating the need for intermediaries in loan agreements and financial transactions. Additionally, the tokenization of assets through blockchain presents an opportunity for banks to offer new financial products, such as tokenized real estate, commodities, or stocks, opening up new revenue streams and broadening access to investments for a wider customer base.

However, market growth is hampered by the lack of international blockchain standards and the energy-intensive nature of blockchain consensus processes.

global blockchain in retail banking market

Global Blockchain in Retail Banking Market: By Type

The public segment is expected to hold the largest share of the market over the forecast period. Smart contracts that automate procedures like insurance claims and loan agreements are supported by public blockchains. These programmable features improve operational efficiency, making public blockchains an attractive option for retail banks looking to streamline banking operations and reduce costs.

The hybrid segment is expected to be the fastest-growing segment in the market from 2024 to 2029. Hybrid blockchains enable faster transaction processing by using private chains for internal operations while utilizing public blockchains for external interactions. For retail banks, this maximizes speed and efficiency, which is essential in the cutthroat financial services industry.

Global Blockchain in Retail Banking Market: By Component

The infrastructure & protocols segment is expected to hold the largest share of the market over the forecast period. Blockchain technology can be seamlessly integrated with current banking systems due to infrastructure & protocols. This ensures retail banks can leverage blockchain’s advantages without abandoning their current infrastructure, making it a crucial component for broad adoption.

The application & solution segment is anticipated to be the fastest-growing segment in the market from 2024 to 2029. Blockchain applications enable retail banks to streamline compliance with financial regulations by providing transparent and immutable records of transactions. These features reduce the risk of errors and fraud, making blockchain solutions highly sought after in the retail banking sector.

Global Blockchain in Retail Banking Market: By Application

The identity management segment is expected to hold the largest share of the market over the forecast period. Blockchain-enabled identity management systems streamline the onboarding process by securely storing customer information. This leads to a faster, more efficient onboarding experience, making it a preferred solution for retail banks looking to enhance customer satisfaction.

The remittances segment is anticipated to be the fastest-growing segment in the market from 2024 to 2029. Traditional remittance services often rely on multiple intermediaries, increasing processing time and fees. Blockchain eliminates intermediaries, offering direct peer-to-peer transactions. This reduces costs and increases efficiency, which drives the fast growth of blockchain in the remittances segment.

asia pacific blockchain in retail banking market

Global Blockchain in Retail Banking Market: By Region

North America is expected to be the largest region in the global market. North America has a high rate of digital payment adoption, driving demand for secure, efficient, and transparent solutions like blockchain. Retail banks in the region are increasingly adopting blockchain to enhance their payment systems.

Asia Pacific is anticipated to witness rapid growth during the forecast period. With the rise in digital banking services, the Asia Pacific region faces growing concerns over fraud and cybersecurity. Blockchain’s ability to provide secure, transparent, and tamper-proof transactions makes it a valuable solution for banks in the region.

Global Blockchain in Retail Banking Market Share and Competitor Analysis

Cegeka, Oracle, SAP SE, Amazon Web Services, Inc., Goldman Sachs, Microsoft, BitPay, IBM, Intel Corporation, and Bitfury Group Limited among others, are some of the key players in the global blockchain in retail banking market.

Please note: This is not an exhaustive list of companies profiled in the report.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Functions

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

3          GLOBAL BLOCKCHAIN IN RETAIL BANKING MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2           Adjacent Market Opportunities

3.1.3           Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1           Market Drivers: Impact Analysis

3.2.2           Market Restraints: Impact Analysis

3.2.3           Market Opportunities: Impact Analysis

3.2.4           Market Challenges: Impact Analysis

3.3   Supply Side Analysis

3.3.1           Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2           SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL BLOCKCHAIN IN RETAIL BANKING MARKET, BY TYPE

4.1   Introduction

4.2   Blockchain in Retail Banking Market: Type Scope Key Takeaways

4.3   Revenue Growth Analysis, 2023 & 2029

4.4   Public

4.4.1           Public Market Estimates and Forecast, 2021-2029 (USD Million)

4.5   Private

4.5.1           Private Market Estimates and Forecast, 2021-2029 (USD Million)

4.6   Hybrid

4.6.1           Hybrid Market Estimates and Forecast, 2021-2029 (USD Million)

5          GLOBAL BLOCKCHAIN IN RETAIL BANKING MARKET, BY APPLICATION

5.1   Introduction

5.2   Blockchain in Retail Banking Market: Application Scope Key Takeaways

5.3   Revenue Growth Analysis, 2023 & 2029

5.4   Remittances

5.4.1           Remittances Market Estimates and Forecast, 2021-2029 (USD Million)

5.5   Identity Management

5.5.1           Identity Management Market Estimates and Forecast, 2021-2029 (USD Million)

5.6   Compliance Management

5.6.1           Compliance Management Market Estimates and Forecast, 2021-2029 (USD Million)

5.7   Payments and Smart Contracts

5.7.1           Payments and Smart Contracts Market Estimates and Forecast, 2021-2029 (USD Million)

5.8   Fraud Prevention

5.8.1           Fraud Prevention Market Estimates and Forecast, 2021-2029 (USD Million)

5.9   Others

5.9.1           Others Market Estimates and Forecast, 2021-2029 (USD Million)

6          GLOBAL BLOCKCHAIN IN RETAIL BANKING MARKET, BY COMPONENT

6.1   Introduction

6.2   Blockchain in Retail Banking Market: Component Scope Key Takeaways

6.3   Revenue Growth Analysis, 2023 & 2029

6.4   Application & Solution

6.4.1           Application & Solution Market Estimates and Forecast, 2021-2029 (USD Million)

6.5   Infrastructure & Protocols

6.5.1           Infrastructure & Protocols Market Estimates and Forecast, 2021-2029 (USD Million)

6.6   Middleware

6.6.1           Middleware Market Estimates and Forecast, 2021-2029 (USD Million)

7          GLOBAL BLOCKCHAIN IN RETAIL BANKING MARKET, BY REGION

7.1   Introduction

7.2   North America Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.1        By Type

7.2.2        By Application

7.2.3        By Component

7.2.4        By Country

7.2.4.1     U.S. Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.1.1        By Type

7.2.4.1.2        By Application

7.2.4.1.3        By Component

7.2.4.2     Canada Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.2.1        By Type

7.2.4.2.2        By Application

7.2.4.2.3        By Component

7.2.4.3     Mexico Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.2.4.3.1        By Type

7.2.4.3.2        By Application

7.2.4.3.3        By Component

7.3   Europe Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.1        By Type

7.3.2        By Application

7.3.3        By Component

7.3.4        By Country

7.3.4.1     Germany Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.1.1        By Type

7.3.4.1.2        By Application

7.3.4.1.3        By Component

7.3.4.2     U.K. Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.2.1        By Type

7.3.4.2.2        By Application

7.3.4.2.3        By Component

7.3.4.3     France Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.3.1        By Type

7.3.4.3.2        By Application

7.3.4.3.3        By Component

7.3.4.4     Italy Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.4.1        By Type

7.3.4.4.2        By Application

7.2.4.4.3        By Component

7.3.4.5     Spain Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.5.1        By Type

7.3.4.5.2        By Application

7.2.4.5.3        By Component

7.3.4.6     Netherlands Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.6.1        By Type

7.3.4.6.2        By Application

7.2.4.6.3        By Component

7.3.4.7     Rest of Europe Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.3.4.7.1        By Type

7.3.4.7.2        By Application

7.2.4.7.3        By Component

7.4   Asia Pacific Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.1        By Type

7.4.2        By Application

7.4.3        By Component

7.4.4        By Country

7.4.4.1     China Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.1.1        By Type

7.4.4.1.2        By Application

7.4.4.1.3        By Component

7.4.4.2     Japan Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.2.1        By Type

7.4.4.2.2        By Application

7.4.4.2.3        By Component

7.4.4.3     India Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.3.1        By Type

7.4.4.3.2        By Application

7.4.4.3.3        By Component

7.4.4.4     South Korea Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.4.1        By Type

7.4.4.4.2        By Application

7.4.4.4.3        By Component

7.4.4.5     Singapore Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.5.1        By Type

7.4.4.5.2        By Application

7.4.4.5.3        By Component

7.4.4.6     Malaysia Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.6.1        By Type

7.4.4.6.2        By Application

7.4.4.6.3        By Component

7.4.4.7     Thailand Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.7.1        By Type

7.4.4.7.2        By Application

7.4.4.7.3        By Component

7.4.4.8     Indonesia Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.8.1        By Type

7.4.4.8.2        By Application

7.4.4.8.3        By Component

7.4.4.9     Vietnam Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.9.1        By Type

7.4.4.9.2        By Application

7.4.4.9.3        By Component

7.4.4.10  Taiwan Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.10.1 By Type

7.4.4.10.2 By Application

7.4.4.10.3 By Component

7.4.4.11  Rest of Asia Pacific Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.4.4.11.1 By Type

7.4.4.11.2 By Application

7.4.4.11.3 By Component

7.5   Middle East and Africa Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.1        By Type

7.5.2        By Application

7.5.3        By Component

7.5.4        By Country

7.5.4.1     Saudi Arabia Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.1.1        By Type

7.5.4.1.2        By Application

7.5.4.1.3        By Component

7.5.4.2     U.A.E. Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.2.1        By Type

7.5.4.2.2        By Application

7.5.4.2.3        By Component

7.5.4.3     Israel Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.3.1        By Type

7.5.4.3.2        By Application

7.5.4.3.3        By Component

7.5.4.4     South Africa Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.4.1        By Type

7.5.4.4.2        By Application

7.5.4.4.3        By Component

7.5.4.5     Rest of Middle East and Africa Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.5.4.5.1        By Type

7.5.4.5.2        By Application

7.5.4.5.2        By Component

7.6   Central and South America Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.1        By Type

7.6.2        By Application

7.6.3        By Component

7.6.4        By Country

7.6.4.1     Brazil Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.1.1        By Type

7.6.4.1.2        By Application

7.6.4.1.3        By Component

7.6.4.2     Argentina Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.2.1        By Type

7.6.4.2.2        By Application

7.6.4.2.3        By Component

7.6.4.3     Chile Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.3.1        By Type

7.6.4.3.2        By Application

7.6.4.3.3        By Component

7.6.4.4     Rest of Central and South America Blockchain in Retail Banking Market Estimates and Forecast, 2021-2029 (USD Million)

7.6.4.4.1        By Type

7.6.4.4.2        By Application

7.6.4.4.3        By Component

8          COMPETITIVE LANDCAPE

8.1   Company Market Share Analysis

8.2   Four Quadrant Positioning Matrix

8.2.1        Market Leaders

8.2.2        Market Visionaries

8.2.3        Market Challengers

8.2.4        Niche Market Players

8.3   Vendor Landscape

8.3.1        North America

8.3.2        Europe

8.3.3        Asia Pacific

8.3.4        Rest of the World

8.4   Company Profiles  

8.4.1        Cegeka

8.4.1.1 Business Description & Financial Analysis

8.4.1.2 SWOT Analysis

8.4.1.3 Products & Services Offered

8.4.1.4 Strategic Alliances between Business Partners

8.4.2        Oracle

8.4.2.1 Business Description & Financial Analysis

8.4.2.2 SWOT Analysis

8.4.2.3 Products & Services Offered

8.4.2.4 Strategic Alliances between Business Partners

8.4.3        SAP SE

8.4.3.1 Business Description & Financial Analysis

8.4.3.2 SWOT Analysis

8.4.3.3 Products & Services Offered

8.4.3.4 Strategic Alliances between Business Partners

8.4.4        Amazon Web Services, Inc.

8.4.4.1 Business Description & Financial Analysis

8.4.4.2 SWOT Analysis

8.4.4.3 Products & Services Offered

8.4.4.4 Strategic Alliances between Business Partners

8.4.5        Goldman Sachs

8.4.5.1 Business Description & Financial Analysis

8.4.5.2 SWOT Analysis

8.4.5.3 Products & Services Offered

8.4.5.4 Strategic Alliances between Business Partners

8.4.6        MICROSOFT

8.4.6.1 Business Description & Financial Analysis

8.4.6.2 SWOT Analysis

8.4.6.3 Products & Services Offered

8.4.6.4 Strategic Alliances between Business Partners

8.4.7        BitPay  

8.4.7.1 Business Description & Financial Analysis

8.4.7.2 SWOT Analysis

8.4.7.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.8        IBM

8.4.8.1 Business Description & Financial Analysis

8.4.8.2 SWOT Analysis

8.4.8.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.9        Intel Corporation

8.4.9.1 Business Description & Financial Analysis

8.4.9.2 SWOT Analysis

8.4.9.3 Products & Services Offered

8.4.9.4 Strategic Alliances between Business Partners

8.4.10       Bitfury Group

8.4.10.1 Business Description & Financial Analysis

8.4.10.2 SWOT Analysis

8.4.10.3 Products & Services Offered

8.4.10.4 Strategic Alliances between Business Partners

8.4.11      Other Companies

8.4.11.1 Business Description & Financial Analysis

8.4.11.2 SWOT Analysis

8.4.11.3 Products & Services Offered

8.4.11.4 Strategic Alliances between Business Partners

9          RESEARCH METHODOLOGY

9.1   Market Introduction

9.1.1        Market Definition

9.1.2           Market Scope & Segmentation

9.2   Information Procurement

9.2.1        Secondary Research

9.2.1.1 Purchased Databases

9.2.1.2 GMEs Internal Data Repository

9.2.1.3 Secondary Resources & Third Party Perspectives

9.2.1.4 Company Information Sources

9.2.2        Primary Research

9.2.2.1 Various Types of Respondents for Primary Interviews

9.2.2.2 Number of Interviews Conducted throughout the Research Process

9.2.2.3 Primary Stakeholders

9.2.2.4 Discussion Guide for Primary Participants

9.2.3        Expert Panels

9.2.3.1 Expert Panels Across 30+ Industry

9.2.4        Paid Local Experts

9.2.4.1 Paid Local Experts Across 30+ Industry Across each Region

9.3   Market Estimation

9.3.1        Top-Down Approach

9.3.1.1 Macro-Economic Indicators Considered

9.3.1.2 Micro-Economic Indicators Considered

9.3.2        Bottom Up Approach

9.3.2.1 Company Share Analysis Approach

9.3.2.2 Estimation of Potential Type Sales

9.4   Data Triangulation

9.4.1        Data Collection

9.4.2           Time Series, Cross Sectional & Panel Data Analysis

9.4.3        Cluster Analysis

9.5   Analysis and Output

9.5.1           Inhouse AI Based Real Time Analytics Tool

9.5.2           Output From Desk & Primary Research

9.6   Research Assumptions & Limitations

9.7.1        Research Assumptions

9.7.2        Research Limitations

LIST OF TABLES

1 Global Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

2 Public Market, By Region, 2021-2029 (USD Million)

3 Private Market, By Region, 2021-2029 (USD Million)             

4 Hybrid Market, By Region, 2021-2029 (USD Million)               

5 Global Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million) 

6 Remittances Market, By Region, 2021-2029 (USD Million)

7 Identity Management Market, By Region, 2021-2029 (USD Million)

8 Compliance Management Market, By Region, 2021-2029 (USD Million)     

9 Payments and Smart Contracts Market, By Region, 2021-2029 (USD Million)       

10 Fraud Prevention Market, By Region, 2021-2029 (USD Million)      

11 Others Market, By Region, 2021-2029 (USD Million)              

12 Global Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

13 Application & Solution Market, By Region, 2021-2029 (USD Million)          

14 Infrastructure & Protocols Market, By Region, 2021-2029 (USD Million)             

15 Middleware Market, By Region, 2021-2029 (USD Million)  

16 Regional Analysis, 2021-2029 (USD Million)              

17 North America Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

18 North America Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

19 North America Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

20 North America Blockchain in Retail Banking Market, By Country, 2021-2029 (USD Million)

21 U.S Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

22 U.S Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

23 U.S Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

24 Canada Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

25 Canada Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

26 Canada Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

27 Mexico Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

28 Mexico Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

29 Mexico Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

30 Europe Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

31 Europe Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

32 Europe Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

33 Europe Blockchain in Retail Banking Market, By Country 2021-2029 (USD Million)

34 Germany Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

35 Germany Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

36 Germany Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

37 U.K Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

38 U.K Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

39 U.K Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

40 France Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

41 France Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

42 France Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

43 Italy Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

44 Italy Blockchain in Retail Banking Market, By application, 2021-2029 (USD Million)

45 Italy Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

46 Spain Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

47 Spain Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

48 Spain Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

49 Netherlands Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

50 Netherlands Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

51 Netherlands Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

52 Rest Of Europe Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

53 Rest Of Europe Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

54 Rest of Europe Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

55 Asia Pacific Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

56 Asia Pacific Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

57 Asia Pacific Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

58 Asia Pacific Blockchain in Retail Banking Market, By Country, 2021-2029 (USD Million)

59 China Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

60 China Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

61 China Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

62 India Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

63 India Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

64 India Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

65 Japan Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

66 Japan Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

67 Japan Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

68 South Korea Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

69 South Korea Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

70 South Korea Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

71 malaysia Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

72 malaysia Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

73 malaysia Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

74 Thailand Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

75 Thailand Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

76 Thailand Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

77 Indonesia Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

78 Indonesia Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

79 Indonesia Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

80 Vietnam Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

81 Vietnam Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

82 Vietnam Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

83 Taiwan Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

84 Taiwan Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

85 Taiwan Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

86 Rest of Asia Pacific Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

87 Rest of Asia Pacific Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

88 Rest of Asia Pacific Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

89 Middle East and Africa Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

90 Middle East and Africa Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

91 Middle East and Africa Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

92 Middle East and Africa Blockchain in Retail Banking Market, By Country, 2021-2029 (USD Million)

93 Saudi Arabia Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

94 Saudi Arabia Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

95 Saudi Arabia Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

96 UAE Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

97 UAE Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

98 UAE Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

99 Israel Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

100 Israel Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

101 Israel Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

102 South Africa Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

103 South Africa Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

104 South Africa Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

105 Rest of Middle East and Africa Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

106 Rest of Middle East and Africa Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

107 Rest of Middle East and Africa Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

108 Central and South America Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

109 Central and South America Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

110 Central and South America Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

111 Central and South America Blockchain in Retail Banking Market, By Country, 2021-2029 (USD Million)

112 Brazil Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

113 Brazil Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

114 Brazil Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

115 Argentina Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

116 Argentina Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

117 Argentina Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

118 Chile Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

119 Chile Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

120 Chile Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

121 Rest of Central and South America Blockchain in Retail Banking Market, By Type, 2021-2029 (USD Million)

122 Rest of Central and South America Blockchain in Retail Banking Market, By Application, 2021-2029 (USD Million)

123 Rest of Central and South America Blockchain in Retail Banking Market, By Component, 2021-2029 (USD Million)

124 Cegeka: Products & Services Offering

125 Oracle: Products & Services Offering         

126 SAP SE: Products & Services Offering           

127 Amazon Web Services, Inc.: Products & Services Offering              

128 Goldman Sachs: Products & Services Offering     

129 MICROSOFT: Products & Services Offering 

130 BitPay: Products & Services Offering           

131 IBM: Products & Services Offering 

132 Intel Corporation, Inc: Products & Services Offering      

133  Bitfury Group: Products & Services Offering        

134 Other Companies: Products & Services Offering  

LIST OF FIGURES

1 Global Blockchain in Retail Banking Market Overview

2 Global Blockchain in Retail Banking Market Value From 2021-2029 (USD Million)

3 Global Blockchain in Retail Banking Market Share, By Type (2023)

4 Global Blockchain in Retail Banking Market Share, By Application (2023)

5 Global Blockchain in Retail Banking Market Share, By Component (2023)

6 Global Blockchain in Retail Banking Market, By Region (Asia Pacific Market)

7 Technological Trends In Global Blockchain in Retail Banking Market

8 Four Quadrant Competitor Positioning Matrix

9 Impact Of Macro & Micro Indicators On The Market

10 Impact Of Key Drivers On The Global Blockchain in Retail Banking Market

11 Impact Of Challenges On The Global Blockchain in Retail Banking Market

12 Porter’s Five Forces Analysis

13 Global Blockchain in Retail Banking Market: By Type Scope Key Takeaways

14 Global Blockchain in Retail Banking Market, By Type Segment: Revenue Growth Analysis

15 Public Market, By Region, 2021-2029 (USD Million)    

16 Private Market, By Region, 2021-2029 (USD Million)

17 Hybrid Market, By Region, 2021-2029 (USD Million)   

18 Global Blockchain in Retail Banking Market: By Application Scope Key Takeaways

19 Global Blockchain in Retail Banking Market, By Application Segment: Revenue Growth Analysis

20 Remittances Market, By Region, 2021-2029 (USD Million)    

21 Identity Management Market, By Region, 2021-2029 (USD Million) 

22 Compliance Management Market, By Region, 2021-2029 (USD Million)     

23 Payments and Smart Contracts Market, By Region, 2021-2029 (USD Million)       

24 Fraud Prevention Market, By Region, 2021-2029 (USD Million)        

25 Others Market, By Region, 2021-2029 (USD Million)   

26 Global Blockchain in Retail Banking Market: By Component Scope Key Takeaways

27 Global Blockchain in Retail Banking Market, By Component Segment: Revenue Growth Analysis

28 Application & Solution Market, By Region, 2021-2029 (USD Million)

29 Infrastructure & Protocols Market, By Region, 2021-2029 (USD Million)

30 Middleware Market, By Region, 2021-2029 (USD Million)      

31 Regional Segment: Revenue Growth Analysis

32 Global Blockchain in Retail Banking Market: Regional Analysis

33 North America Blockchain in Retail Banking Market Overview

34 North America Blockchain in Retail Banking Market, By Type

35 North America Blockchain in Retail Banking Market, By Application

36 North America Blockchain in Retail Banking Market, By Component

37 North America Blockchain in Retail Banking Market, By Country

38 U.S. Blockchain in Retail Banking Market, By Type

39 U.S. Blockchain in Retail Banking Market, By Application

40 U.S. Blockchain in Retail Banking Market, By Component

41 Canada Blockchain in Retail Banking Market, By Type

42 Canada Blockchain in Retail Banking Market, By Application

43 Canada Blockchain in Retail Banking Market, By Component

44 Mexico Blockchain in Retail Banking Market, By Type

45 Mexico Blockchain in Retail Banking Market, By Application

46 Mexico Blockchain in Retail Banking Market, By Component

47 Four Quadrant Positioning Matrix

48 Company Market Share Analysis

49 Cegeka: Company Snapshot

50 Cegeka: SWOT Analysis

51 Cegeka: Geographic Presence

52 Oracle: Company Snapshot

53 Oracle: SWOT Analysis

54 Oracle: Geographic Presence

55 SAP SE: Company Snapshot

56 SAP SE: SWOT Analysis

57 SAP SE: Geographic Presence

58 Amazon Web Services, Inc.: Company Snapshot

59 Amazon Web Services, Inc.: Swot Analysis

60 Amazon Web Services, Inc.: Geographic Presence

61 Goldman Sachs: Company Snapshot

62 Goldman Sachs: SWOT Analysis

63 Goldman Sachs: Geographic Presence

64 MICROSOFT: Company Snapshot

65 MICROSOFT: SWOT Analysis

66 MICROSOFT: Geographic Presence

67 BitPay: Company Snapshot

68 BitPay: SWOT Analysis

69 BitPay: Geographic Presence

70 IBM: Company Snapshot

71 IBM: SWOT Analysis

72 IBM: Geographic Presence

73 Intel Corporation, Inc.: Company Snapshot

74 Intel Corporation, Inc.: SWOT Analysis

75 Intel Corporation, Inc.: Geographic Presence

76 Bitfury Group: Company Snapshot

77 Bitfury Group: SWOT Analysis

78 Bitfury Group: Geographic Presence

79 Other Companies: Company Snapshot

80 Other Companies: SWOT Analysis

81 Other Companies: Geographic Presence

The Global Blockchain in Retail Banking Market has been studied from the year 2019 till 2029. However, the CAGR provided in the report is from the year 2024 to 2029. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Blockchain in Retail Banking Market Size

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Blockchain in Retail Banking Market.

Blockchain in Retail Banking Market Growth

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Blockchain in Retail Banking Market Trends

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

Blockchain in Retail Banking Market Share

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Frequently Asked Questions

The global blockchain in retail banking market is estimated to exhibit a CAGR of 45.6% from 2024 to 2029.
Cegeka, Oracle, SAP SE, Amazon Web Services, Inc., Goldman Sachs, Microsoft, BitPay, IBM, Intel Corporation, and Bitfury Group Limited among others, are some of the key players in the global blockchain in retail banking market.
The adoption of blockchain-based smart contracts offers an opportunity to automate and enforce contractual agreements in retail banking, improving operational efficiency, reducing legal costs, and eliminating the need for intermediaries in loan agreements and financial transactions. Additionally, the tokenization of assets through blockchain presents an opportunity for banks to offer new financial products, such as tokenized real estate, commodities, or stocks, opening up new revenue streams and broadening access to investments for a wider customer base.
The primary factors propelling the market growth are the increased demand for enhanced security and transparency in financial transactions and the growing adoption of digital currencies and decentralized finance (DeFi) solutions. Additionally, the government and regulatory support for blockchain innovation in financial services along with the push for faster cross-border payments and real-time transaction settlement are expected to support market growth.

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