Global Decentralized Finance (DeFi) Market

Decentralized Finance (DeFi) Market Size, Share, Growth Analysis, By Component(Blockchain, Decentralized Applications (dApps), Smart Contracts), Application(Data & Analytics, Decentralized exchanges, Payments, Stablecoins, Marketplaces, Others), Industry, and Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2246 | Region: Global | Published Date: June, 2024
Pages: 197 | Tables: 99 | Figures: 76

Decentralized Finance (DeFi) Market Regional Insights

North America posted the highest growth in the global decentralized finance (DeFi) market in 2023. This is due to the growing adoption of blockchain technology and smart contracts, underpinning many DeFi platforms. These platforms offer a range of financial services. The trend is changing as individual and organization types negotiate the transaction using financial instruments, enabling greater access to and control over their assets.  

Meanwhile, Asia Pacific is considered the fastest-growing region during the forecast period. While the Asia-Pacific region saw an increase in DeFi adoption due to tech-savvy people, interest from governments in promoting financial inclusion and the possibility of more efficient cross-border payments.

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Global Decentralized Finance (DeFi) Market size was valued at around USD 22 billion in 2022 and is poised to grow from USD 23.99 billion in 2023 to USD 48.02 billion by 2031, at a CAGR of 9.06% over the forecast period (2024–2031). 

A strategic collaboration among market players has been identified in the Decentralized Finance (DeFi) market. For example, in March 2023, AllianceBlock focused on seamless connections between decentralized finance (DeFi) and traditional finance (TradFi) through its untrusted and decentralized services and partnered with ABO Digital, Alpha Blue Ocean's private digital asset finance arm. By utilizing AllianceBlock's decentralized blockchain infrastructure and the Nexera Protocol, traditional financial instruments can be tokenized, providing an avenue for capital providers who prefer not to hold digital assets to participate through traditional Actively Managed Certificates (AMCs). 'Suffescom Solutions ', 'RisingMax ', 'BestWeb3Development ', 'IBM ', 'BestBlockchainDevs ', 'Accenture ', 'Tata Consultancy Services ', 'Cyberium Inc. ', 'Deloitte ', 'Develop Coins ', 'Bitdeal ', 'McKinsey & Company ', 'AktaryTech ', 'MarketAcross ', 'LevinRiegner ', 'Compound Labs, Inc. ', 'MakerDAO ', 'Aave ', 'Uniswap ', 'SushiSwap ', 'Curve Finance ', 'Synthetix ', 'Balancer ', 'Bancor Network ', 'Badger DAO'

Blockchain technology provides a sophisticated and transparent environment for financial transactions. DeFi applications can use smart contracts to automate and enforce transactions without the need for an intermediary. Blockchain technology allows for interoperability between various DeFi protocols and applications. DeFi platforms can communicate and integrate with ease. This connectivity enables the configuration of the DeFi protocol, where developers can combine different building blocks to create innovative new economic products. DeFi operates on a public blockchain, accessible to anyone with an internet connection. This global access allows individuals to participate in financial activities without the need for a traditional bank account or credit history. 

One of the issues with DeFi is balancing decentralization and efficiency. Centralized crypto currency exchanges, such as Coinbase, are efficient but lack decentralization. Decentralized exchanges (DEXs), on the other hand, allow crypto owners to engage directly without the use of a middleman. The market, which is dominated by Uniswap and Sushiswap, is expanding at a rapid pace. There was more DEX trading in the first two months of 2021 than in the preceding two years combined. The main driver of this expansion is automated market makers (AMMs), who create liquidity pools on DEXs where crypto asset holders lend their holdings in exchange for interest. AMMs are now used by 93% of DEXs.  

North America posted the highest growth in the global decentralized finance (DeFi) market in 2023. This is due to the growing adoption of blockchain technology and smart contracts, underpinning many DeFi platforms. These platforms offer a range of financial services. The trend is changing as individual and organization types negotiate the transaction using financial instruments, enabling greater access to and control over their assets.  

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Global Decentralized Finance (DeFi) Market

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