DeFi
Decentralized Finance (DeFi) Market to Surpass $446.43 Billion by 2031
SkyQuest Technology Consulting Pvt. Ltd.
Westford, United States, May 20, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Global Decentralized Finance (DeFi) Market will reach a value of USD 446.43 billion by 2031, growing at a CAGR of 46.80% over the forecast period (2024-2031). Its increase during the projection period was driven by the strong scalability, improved functionality and security of decentralized finance globally. The entry of many people into the digital asset space will ensure the future growth of the decentralized finance (DeFi) market. This remarkable growth is partly a result of the surge in esports activities globally.
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Browse the in-depth table of contents on “Decentralized Finance (DeFi) Market”
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Pages – 197
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Paintings – 95
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Numbers – 70
Decentralized Finance (DeFi) Market Overview:
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Report cover |
Details |
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Market revenue in 2023 |
$20.69 billion |
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Estimated value by 2031 |
$446.43 billion |
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Rate of growth |
Poised to grow at a CAGR of 46.80% |
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Forecast period |
2024-2031 |
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Forecast units |
Value (in billions USD) |
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Report cover |
Revenue Forecast, Competitive Landscape, Growth Factors and Trends |
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Segments covered |
Component, application and industry |
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Geographies covered |
North America, Europe, Asia Pacific and Rest of the World |
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Highlights of the report |
Institutional interest in exploring opportunities related to DeFi evolution and user accessibility |
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Main market opportunities |
Closing the global gap in financial inclusion and Defi immutability |
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Key Market Drivers |
Growing demand in esports and gaming |
Execution of smart contracts helps the component dominate the market
The most notable feature that makes blockchain technology superior in the global Defi industry is the decentralization that allows for transparency and honesty. Smart contracts can execute automatically reliable transactions due to this decentralized structure, this way institutional investors who want security may find it attractive as the reliability of blockchains has made them popular within the Defi ecosystem.
Removing centralized control promotes financial inclusion for applications that are growing at a rapid pace
Decentralized finance applications reduce costs and improve accessibility by eliminating middlemen. This factor contributes to their growth in the global DeFi market. The lack of centralized control allows for economic interactions that do not depend on the permission of others while promoting, among other things, financial inclusion, thus enabling all these benefits at lower prices. This is why different types of users are flocking to decentralized financial services in search of truly borderless financial services.
The story continues
To be the largest cryptocurrency market in the region, allowing the North to dominate the decentralized finance (DeFi) market
In North America, decentralized finance appears to be the industry with the largest number of well-established companies. Additionally, one of the largest cryptocurrency markets is in North America and therefore has the potential to incubate DeFi systems. Europe ranks second in decentralized financial markets as companies providing DeFi technology solutions enjoy certain advantages there. The monopoly on the distribution of money, financial products and financial services by banks and other financial institutions is overthrown by such a system. Additionally, it eliminates user fees that banks and other financial institutions charge consumers.
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Decentralized Finance (DeFi) Market Overview
Drivers:
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Access financial products without the need for a traditional bank account
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Growing demand in esports and gaming
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Growing use of digital currency
Constraints:
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Risks associated with smart contracts
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Regulators are a cause for concern
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The decentralized nature of the Defi is too difficult to manage
Leading Players in the Global Decentralized Finance (DeFi) Market
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Dapper Labs, Inc. (Canada)
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Badger DAO (United States)
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Bancor network (Switzerland)
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Curve Finance (United States)
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MakerDAO (United States)
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SushiSwap (Japan)
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Uniswap (United States)
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Synthetix (Australia)
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Balancer (United States)
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Compound Labs, Inc. (United States)
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Key Questions Answered in the Global Decentralized Finance (DeFi) Market Report
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What role does the elimination of centralized control play in the explosive rise of decentralized finance applications in the global DeFi market?
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What are the driving forces behind the supremacy of blockchain technology in the global DeFi market, and how is it attracting institutional investors?
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What advantages does North America offer DeFi systems over other regions, and why has it become the dominant force in the decentralized finance (DeFi) market?
This report provides the following information:
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Analysis of key factors (exponential growth of electronic sports betting, anonymous direct payments without putting one’s own money at risk, rapid increase in the use of cryptocurrencies and decentralized technology used by the cryptocurrency market), constraints (different countries have frameworks different legal conditions, severe clauses). & poorly designed contracts and attacks on blockchain networks), opportunities (improved user experiences are increasing, the creation of intuitive DeFi platforms and DeFi offerings are governed by central entities) and challenges (there is no There are no equivalent guarantees in DeFi and DeFi runs a significant risk of being compromised) influencing the growth of the decentralized finance (DeFi) market
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Market Penetration: Comprehensive information on product portfolios offered by major players in the decentralized finance (DeFi) market
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Product Development/Innovation: Detailed information on upcoming trends, R&D activities and product launches in the decentralized finance (DeFi) market
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Market Development: Comprehensive Information on Lucrative Emerging Regions
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Market Diversification: Comprehensive information on new products, growing geographies and recent market developments
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Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue and product analysis of key market players.
Related reports:
Global Fintech Blockchain Market
Global Blockchain in Healthcare Market
Global Blockchain as a Service Market
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