SAN FRANCISCO, September 21, 2022 /PRNewswire/ — The global decentralized finance market size is expected to reach $231.19 billion by 2030, expanding at a CAGR of 42.5% from 2022 to 2030, according to a new study by Grand View Research, Inc. The industry is growing in terms of revenue due to rapid technological advancements and innovation in the crypto industry. Another element fueling the expansion of the industry is the degree of transparency and real-time settlement of financial transactions on DeFi (Decentralized Finance) networks.
Key industry insights and findings from the report:
- The smart contracts segment is expected to witness significant growth over the forecast period. Decentralized contracts have various advantages, such as transparency.
- The application of smart contracts is intrinsically integrated with blockchain technology since every action is tracked and made visible to the public.
- The payments segment is expected to witness the fastest CAGR during the forecast period. The growth can be attributed to the disintermediation feature of DeFi, which can lower transaction costs.
- Asia Pacific is expected to experience the fastest CAGR during the forecast period. In 2022, YouGov and Visa surveyed 16,295 adults in 14 markets across the Asia Pacific.
- It was found that 21% of Asia Pacific consumers had already used DeFi services, which is expected to increase by 17% this year, and that 38% of consumers were interested in trying DeFi services in the next six months.
Read the full 130-page market research report for more industry insights,”Report analyzing Decentralized Finance Market Size, Share, and Trends by Application (Payments, Stablecoins), by Component (dApps, Blockchain Technology), by Region (EU, North AmericaAPAC), and sector forecasts, 2022 – 2030“, published by Grand View Research.
Decentralized Finance Market Growth and Trends
The growing popularity of DeFi services is expected to open new opportunities for industry growth. Additionally, the growing adoption and acceptance of crypto is driving growth. For example, in July 2022, Visa surveyed 2,250 small business owners around the world. According to the survey, 25% of respondents said they would accept crypto assets as payment options. The growing acceptance of crypto assets bodes well for the growth of the industry. Visa predicts that the DeFi movement should open up new business opportunities for established banks and other financial service providers in the near future. Financial institutions will eventually be able to integrate end-to-end solutions as use cases continue to grow and solidify. For example, financial firms might be able to provide institutional clients with securitization and asset financing under DeFi protocols.
They could also start offering services designed specifically for Web 3.0 companies and business owners, such as risk management and compliance as a service or insurance underwriting for DeFi protocols. DeFi sites emerged during the COVID-19 pandemic as investors sought yield in response to historically low interest rates. Most DeFi services offer similar services to conventional financial services but with less regulation, which was the main reason investors shifted their interest to DeFi during the COVID-19 pandemic. DeFi platforms are decentralized without any entity exercising control, which should open up new growth opportunities for the industry.
Segmentation of the decentralized finance market
Grand View Research has segmented the global decentralized finance market based on components, applications, and regions:
DeFi Market – Component Outlook (Revenue, USD Million, 2020 – 2030)
- blockchain technology
- Decentralized applications (dApps)
- Smart contracts
DeFi Market – Application Outlook (Revenue, USD Million, 2020 – 2030)
- Asset Tokenization
- Compliance and Identity
- Marketplaces & Liquidity
- Payments
- Data analysis
- Decentralized exchanges
- Prediction industry
- Stable Coins
- Others
DeFi Market – Regional Outlook (Revenue, USD Million, 2020 – 2030)
- North America
- Europe
- UK
- Germany
- France
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Middle East & Africa
List of Decentralized Finance Market Key Players
- Compound Labs, Inc.
- ManufacturerDAO
- Aave
- Uniswap
- SushiSwap
- Curve Finance
- Synthetix
- Pendulum
- Banking Network
- DAO Badger
Check out other related studies published by Grand View Research:
- Financial cloud market – The Global Financial Cloud Market Size is Expected to Reach $101.71 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 20.3% from 2022 to 2030. Financial organizations are modernizing their processes and embracing different aspects of digital transformation due the convenience offered by cloud solutions. Financial institutions using the cloud model benefit from improved disaster recovery, fault tolerance and data protection.
- Smart Financial Connectivity Market – The global smart financial connectivity market size is expected to reach $301.35 million by 2028, registering a CAGR of 4.0% during the forecast period, according to a new report by Grand View Research, Inc. The global smart financial connectivity market is expected to witness strong growth during the period forecast, mainly due to the increased demand for IoT based smart connectivity platforms, the rapidly growing digital transformation of the banking industry, and the burgeoning competition among banks and financial institutions to expand their consumer base.
- Smart Financial Technology Market – The global smart financial technology market size is expected to reach $670.51 million by 2028 and is expected to grow at a CAGR of 3.6% from 2022 to 2028, according to a new report by Grand View Research, Inc. Key market growth factors include increasing adoption of smart ATM solutions coupled with the growing number of ATM installations and growing smart city projects around the world.
Browse next-generation technology industry research reports from Grand View Research.
About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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