NEW YORK, NY, March 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Decentralized Finance (DeFi) Market By Component (Decentralized Applications, Smart Contracts, And Blockchain Technology), By Application (Data & Analytics, Marketplaces & Liquidity, Payments, Assets Tokenization, Decentralized Exchanges, Compliance & Identity, And Stablecoins), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.
“According to the latest research study, the demand of global Decentralized Finance (DeFi) Market size & share in terms of revenue was valued at USD 11.96 Billion in 2021 and it is expected to surpass around USD 232.20 Billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 42.6% during the forecast period 2022 to 2030.”
What is Decentralized Finance (DeFi)? How big is the Decentralized Finance (DeFi) Industry?
The term "decentralized finance" (abbreviated as "DeFi") refers to a financial system that is built on top of a blockchain network and enables the creation, trading, and management of financial instruments and assets in a decentralized manner. This eliminates the need for intermediaries such as banks or other financial institutions. DeFi is also abbreviated as "DeFi." DeFi is dependent on smart contracts, which are digital agreements that can carry out their own execution and which ensure that the terms and conditions of an agreement between two parties are adhered to.
The protocols and applications that make up DeFi provide users with access to a vast array of services, including as trading, staking, borrowing and lending, and more. They are available to anybody who has access to the internet and do not need users to go via a centralized authority. As a result, they are more open, secure, and accessible than traditional financial systems.
The total value locked (TVL) in DeFi protocols has surpassed $200 billion as of March 2023, reflecting the fast expansion that the DeFi business has experienced over the past several years. New protocols and applications are continually being created as part of the ongoing process of enhancing the DeFi ecosystem in order to meet the problems of scalability, security, and usability. It is anticipated that the distributed finance (DeFi) business will continue to flourish and cause a disruption in the existing financial sector as the use of blockchain technology sees increased adoption.
Decentralized Finance (DeFi) Market Report Coverage & Overview:
Decentralized finance (DeFi) provides financial instruments and proves to be the best alternative for brokerages, banks, and exchanges. Moreover, DeFi tools enable people to either borrow or lend funds, venture into price changes on assets by using derivatives, and trade cryptocurrencies. In addition to this, DeFi offers insurance against risks and helps end-users earn interest on savings accounts. Some of the applications of DeFi include promoting high-interest rates.
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Global Decentralized Finance (DeFi) Market: Growth Factors
The growth of the global decentralized finance (DeFi) industry over the forecast timespan can be attributed to its robust scalability and security and improved functionalities. With a large number of people entering the digital asset business, the market for decentralized finance (DeFi) is predicted to gain traction in the years ahead. A prominent increase in e-sports activities globally is a key growth driver for the global decentralized finance (DeFi) market.
Nonetheless, coding errors and hacking have been common in DeFi and this can put brakes on the expansion of the global market. Apart from this, the expansion of DeFi’s infrastructure is in its nascent stage and it is not insured. Moreover, DeFi tools are associated with specific risks and hence can pose a threat to the growth of the global market. However, the growing use and popularity of blockchain-based prediction tools will open new avenues of growth in the global decentralized finance (DeFi) market in the years ahead.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 11.96 Billion |
| Projected Market Size in 2030 | USD 232.20 Billion |
| CAGR Growth Rate | 42.6% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Uniswap, SushiSwap, Curve, Balancer, Aave, MakerDAO, Nexus Mutual, Cover Protocol, USDT, USDC, DAI, Melon, Set Protocol, Chainlink., Compound Labs Inc, Curve Finance, Synthetix, Bancor Network, and Badger DAO. |
| Key Segment | By Component, By Application, By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Decentralized Finance (DeFi) Market: Segmentation Analysis
On the basis of component, the global decentralized finance (DeFi) industry is sectored into decentralized applications, smart contracts, and blockchain technology segments. Furthermore, the decentralized applications segment is anticipated to register notable growth over the forecast period. The growth of the segment over 2022-2030 can be owing to a rise in decentralized fiscal operations such as insurance, investing, lending, and banking. Apart from this, centralized finance tools can become decentralized with the help of smart contracts, thereby boosting the expansion of the smart contracts segment.
Based on the application, the global decentralized finance (DeFi) market is segmented into data & analytics, compliance & identity, marketplaces & liquidity, assets tokenization, payments, decentralized exchanges, and stablecoins. Moreover, the payments segment is predicted to register the fastest CAGR in the forecasting years. The segmental growth can be attributed to the use of peer-to-peer payment methods in the DeFi industry. Apart from this, DeFi payment helps financial institutions in improving their business infrastructure and efficiently serve wholesale as well as retail customers.
The global Decentralized Finance (DeFi) market is segmented as follows:
By Component
- Decentralized Applications
- Blockchain Technology
- Smart Contracts
By Application
- Data & Analytics
- Marketplaces & Liquidity
- Payments
- Assets Tokenization
- Decentralized Exchanges
- Compliance & Identity
- Stablecoins
Browse the full “Decentralized Finance (DeFi) Market By Component (Decentralized Applications, Smart Contracts, and Blockchain Technology), By Application (Data & Analytics, Marketplaces & Liquidity, Payments, Assets Tokenization, Decentralized Exchanges, Compliance & Identity, and Stablecoins), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/decentralized-finance-market
Competitive Landscape
Some of the main competitors dominating the global Decentralized Finance (DeFi) market include -
- Uniswap
- SushiSwap
- Curve
- Balancer
- Aave
- MakerDAO
- Nexus Mutual
- Cover Protocol
- USDT
- USDC
- DAI
- Melon
- Set Protocol
- Chainlink.
- Compound Labs Inc
- Curve Finance
- Synthetix
- Bancor Network
- Badger DAO
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Decentralized Finance (DeFi) market is likely to expand at a CAGR of around 42.6% during the forecast period (2022-2030).
- In terms of revenue, the Decentralized Finance (DeFi) market size was valued at around US$ 11.96 Billion in 2021 and is projected to reach US$ 232.20 Billion by 2030.
- The global market is anticipated to surge at a remarkable rate over the forecast period due to the large-scale consumption of decentralized finance by the millennial population in countries such as the U.S.
- Based on component, the blockchain technology segment accounted for the major market share in 2021
- On basis of application, the data & analytics segment accounted for the highest market share in 2021
- On the basis of region, the North American region is predicted to be a key revenue pocket of the global market over the projected timeline
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- What segments does the Decentralized Finance (DeFi) Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Component, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia-Pacific decentralized finance (DeFi) market is predicted to record the highest CAGR over the forecast timeframe owing to strong economic expansion and the use of new technologies in Asian countries. In addition to this, there are many platforms operating in blockchain technology in the Asia-Pacific zone. In the first half of 2022, Huobi Global, an online asset exchange organization, introduced Ivy Blocks, which is a new investment unit of Ivy Blocks focusing on Web3 as well as DeFi projects. These strategic initiatives will help in massive contribution to the growth of the regional market size in the forthcoming years.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In January 2022, Metamask, a Web3 wallet firm, declared the beta launch of Ethereum staking features that can be availed through Lido’s liquid staking solutions. Reportedly, end-users who want to earn staking prizes can choose any one of the staking providers from the interface of Web3 wallet. The initiative will help in boosting the expansion of the global decentralized finance (DeFi) market.
- In January 2022, Blue, a firm offering identity verification solutions for DeFi traders, launched $3.2 million in funding from stealth mode. The strategic move will be used for bringing a massive improvement in DeFi protocol identity verification activities.
- In the first half of 2021, two firms Sheesha Finance and EQIFI joined hands to help end-users access DeFi tool as well as global banking services on a single platform used for carrying out investing, lending, and borrowing activities.
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FREQUENTLY ASKED QUESTIONS
- Which key factors will influence decentralized finance (DeFi) market growth over 2022-2030?
The global decentralized finance (DeFi) market is projected to expand over 2022-2030 owing to escalating demand for decentralized finance in blockchain and insurance. A massive increase in e-sports events and online gaming activities will boost the global market demand.
- What will be the value of the decentralized finance (DeFi) market during 2022-2030?
According to study, the global decentralized finance (DeFi) market size was $11.96 billion in 2021 and is projected to reach $232.20 billion by the end of 2030 with a compound annual growth rate (CAGR) of roughly 42.6% between 2022 and 2030.
- Which region will contribute notably towards the decentralized finance (DeFi) market value?
The North American decentralized finance (DeFi) market is anticipated to record the highest growth in the ensuing years owing to the presence of key players including Compound Labs, Inc., and Uniswap. In addition to this, North America is one of the biggest cryptocurrency markets across the globe that also adopts DeFi platforms.
- Which are the major players leveraging the global decentralized finance (DeFi) market growth?
The global decentralized finance (DeFi) market is led by players like Uniswap, SushiSwap, Curve, Balancer, Aave, MakerDAO, Nexus Mutual, Cover Protocol, USDT, USDC, DAI, Melon, Set Protocol, Chainlink., Compound Labs Inc, Curve Finance, Synthetix, Bancor Network, and Badger DAO.
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