Global Decentralized Finance (DeFi) Market Size to Reach USD 601.00 Billion in 2032 | Emergen Research

Rising demand for decentralized finance platforms is a key factor driving Decentralized Finance (DeFi) market revenue growt

Vancouver, Sept. 12, 2023 (GLOBE NEWSWIRE) — The global Decentralized Finance (DeFi) market size is expected to reach USD 601.00 Billion in 2032 and register a steady revenue CAGR of 46.1% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for decentralized finance platforms is the key factor driving market revenue growth. Decentralized finance eliminates the need for a centralized finance model by allowing people to access financial services anywhere. Anyone with a cryptocurrency wallet and an Internet connection, regardless of location, can use DeFi services. Users can also trade and move their assets without having to wait for bank transfers or pay traditional bank fees. Decentralized finance manages financial transactions using cryptocurrencies and Blockchain technology.

In addition, rising demand for e-sports and gaming is another key factor driving revenue growth of the market. A decentralized sports betting system is a platform that utilizes Blockchain technology to build a sports betting community, which allows bettors to place wagers anonymously and without putting their own money at risk. Transactions made through Dexsport are not only anonymous but also safe and transparent, as these are stored as smart contracts on the Ethereum Blockchain. These decentralized sports betting systems are cryptographically safe and allow for faster transactions than standard betting platforms.

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Moreovr, consumers have better access and control over their cash and assets in the DeFi system ,which is also expected to drive market revenue growth during the forecast period. However, DeFi is still in its early stages and , hence is mainly uncontrolled. Users are exposed to significant legal and financial risks, as well as extraordinary market volatility, which could restrain market revenue growth.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 13.61 Billion
CAGR (2023–2032) 46.1%
Revenue Forecast To 2032 USD 601.00 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Component, application, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled MakerDAO, Aave, Uniswap Labs, Curve UK Limited, Balancer, Bancor, BadgerDAO, Loopring Technology Limited, 1inch, and Kyber Network 
Customization Scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global Decentralized Finance market is consolidated with few large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

  • MakerDAO
  • Aave
  • Uniswap Labs
  • Curve UK Limited
  • Balancer
  • Bancor
  • BadgerDAO
  • Loopring Technology Limited
  • 1inch
  • Kyber Network

Strategic Development

  • On 16 December 2021, ConsenSys, the leading Ethereum software firm, announced the launch of ConsenSys Rollups, tackling the main difficulty of scalable applications on Quorum tech-stack. ConsenSys designed the ConsenSys Rollups solution with the help of Mastercard’s engineering team. DeFi, Non-Fungible Tokens (NFT), gaming, Web 3.0, and the metaverse are a few of the domains where Ethereum projects’ innovation is blooming. ConsenSys collaborated with Mastercard to co-develop important building blocks for scaling blockchain technology on the Ethereum Mainnet or for private use.

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Some Key Highlights From the Report

  • The blockchain technology segment accounted for largest revenue share in the global DeFI market in 2022. This is because DeFI uses the same blockchain technology as cryptocurrencies, which ensures transparency, security, and immutability of data. A blockchain is a distributed and secure ledger or database. Any transactions that are recorded must be agreed upon using the consensus technique. In addition, using a hashing algorithm, each transaction is encrypted and has a proper link to the previous transaction. Transactions are recorded in blocks on the blockchain and subsequently validated by other users. If these verifiers agree on a transaction, the block is closed and encrypted, and a new block with information about the preceding block is created, providing enhanced security.
  • The smart contracts segment is expected to register steadily fast revenue growth rate in the global DeFI market during the forecast period. This is because smart contracts, consisting of lines of code embedded in the blockchain, are one of the key active ingredients in the DeFi tech mix. These not only specify contract terms and conditions, but also monitor contracts and have the ability to automatically set financial wheels in motion by executing a contract if, or when, its terms and conditions are met.
  • The compliance and identity segment is expected to account for significantly large revenue share in the global DeFI market during the forecast period. This is because these identification systems are decentralized, hence users have complete choice over how their identity is communicated. Decentralized digital identity does not rely on hackable usernames and passwords. Instead, the user generates an online identity in the form of a wallet, which is instantly validated against authoritative sources such as government databases and other anti-fraud checks. In addition, decentralization also decreases the possibility of gaining access to data.
  • The North America market accounted for largest revenue share in the global DeFI market in 2022. This is due to rising demand for decentralized finance platforms as these offer financial services. Decentralized finance eliminates the need for a centralized finance model by allowing anybody, anywhere to access financial services. Moreover, presence of key companies and rising number of strategic initiatives are also expected to drive market revenue growth of this region during the forecast period.

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For the purpose of this report, Emergen Research has segmented the global decentralized finance market on the basis of component, application, and region:

  • Component Outlook (Revenue, USD Billion; 2019–2032)
    • Blockchain Technology
    • Decentralized Applications
    • Smart Contracts
  • Application Outlook (Revenue, USD Billion; 2019–2032)
    • Asset Tokenization
    • Compliance & Identity
    • Marketplaces & Liquidity
    • Payments
    • Data & Analytics
    • Decentralized Exchanges
    • Prediction Industry
    • Stable coins
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Spain
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Rest of Middle East & Africa

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