Global Decentralized Finance (DeFi) Market

Decentralized Finance (DeFi) Market Size, Share, Growth Analysis, By Component(Blockchain Technology, Decentralized Applications (dApps) and Smart Contracts Source), By Application(Assets Tokenization, Compliance & Identity), By Industry(BFSI, Retail & E-commerce) - Industry Forecast 2024-2031

Report ID: SQMIG45E2246 | Region: Global | Published Date: May, 2024
Pages: 197 | Tables: 96 | Figures: 70

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Decentralized Finance (DeFi) Market size was valued at USD 14.1 billion in 2022, USD 20.69 billion in 2023 and is projected to grow USD 446.43 billion by 2031, growing at a CAGR of 46.80% in the forecast period (2024-2031).

Prominent market participants have extended their reach and enhanced their range of products and services by forming alliances and partnerships with fintech firms, other financial institutions, and technology suppliers. In addition to major market advancements, market players are forming a range of strategic alliances with rivals in order to grow and endure in an increasingly cutthroat and dynamic business environment. 'Bancor Network (Switzerland)', 'Balancer (US)', 'SushiSwap (Japan)', 'Dapper Labs, Inc. (Canada)', 'Uniswap (US)', 'MakerDAO (US)', 'Synthetix (Australia)', 'Badger DAO (US)', 'Compound Labs, Inc. (US)', 'Curve Finance (US)', 'MetaMask (US)', 'Moon Pay Limited (US)', 'Hashflow (US)', 'Aave (UK)'

A safe and user-friendly betting platform is in high demand due to the exponential growth in e-sports betting. Decentralised Finance: Using Blockchain technology, this sports betting solution is outfitted with a decentralised finance system that facilitates anonymous direct payments without putting one's own money at risk or requiring an intermediary or brokerage. contributing to the market expansion for decentralised finance (defi).

Transforming Finance with Decentralized Exchanges in DeFi: Decentralized Finance, or DeFi, is revolutionizing financial services. It represents equity and behaviors that are clear to see when everyone is involved. Big changes are occurring in the independent finance market, which makes use of emerging blockchain technologies. This will determine its future course. The increasing prevalence of decentralized exchanges (DEXs) represents a significant shift in the Unattached DeFi Market.

The market in 2022 was dominated by decentralized finance in North America as the sector with the most established companies comes out at the top. Moreover, North America hosts one of the largest cryptocurrency market hence a potential breeding ground for DeFi platforms. Europe ranks second in terms of market size for decentralized finance market due to benefits associated with those who provide DeFi technology services. The system gets rid of the power the banks and other financial organizations have over money, financial services, and financial goods. Furthermore, it does away with usage fees that banks and other financial organizations impose on customers. Furthermore, the Decentralized Finance market in Germany commanded the highest market share, while the Decentralized Finance market in the United Kingdom grew at the quickest rate in the European Union.

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Global Decentralized Finance (DeFi) Market

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