Westford ,USA, May 20, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Global Decentralized Finance (DeFi) Market will attain a value of USD 446.43 Billion by 2031, with a CAGR of 46.80% over the forecast period (2024-2031). Its rise over the projection period was motivated by worldwide decentralized finance’s robust scalability, better functionality and security. The entry of lots of people into a digital asset space will ensure growth in future for decentralized finance (DeFi) market. This remarkable growth partly results from the large increases in e-sports activities happening on a global scale.
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Browse in-depth TOC on the ” Decentralized Finance (DeFi) Market ”
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Pages – 197
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Tables – 95
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Figures – 70
Decentralized Finance (DeFi) Market Overview:
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Report Coverage |
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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Growth Rate |
Poised to grow at a CAGR of 46.80% |
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Forecast Period |
2024–2031 |
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Forecast Units |
Value (USD Billion) |
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Report Coverage |
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 the Rest of the world |
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Report Highlights |
Institutional Interest in Exploring Opportunities in DeFi’s Evolution and User Accessibility |
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Key Market Opportunities |
Reduction in The Worldwide Gap in Financial Inclusion and Immutability Benefit of Defi |
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Key Market Drivers |
Rising Demand in E-Sports and Gaming |
Execution of Smart Contracts Helps Component to Dominate Market
The most remarkable feature which makes blockchain technology superior in global Defi industry is decentralization that allows transparency and honesty Smart contracts can execute auto trustworthy transactions because of this decentralized structure in this way institutional investors who want security can find it attractive because reliability of blockchains has made them popular within the Defi ecosystem.
Removal of Centralized Control Fosters Financial Inclusion of Application is Growing at a Rapid Pace
Decentralised financing applications reduce costs and improve accessibility by eliminating intermediaries. This factor contributes to their growth in the global DeFi market. The absence of centralized control allows for economic interactions that are not dependent on the permission of others while still promoting financial inclusion among other things thus enabling all these benefits at lower prices. Hence different types of user’s flock to decentralized financial services seeking truly borderless financial services.
Being the Largest Cryptocurrency Market in the Region Allowing North to Dominate Decentralized Finance (DeFi) Market
In North America, decentralised finance emerges as the industry with the greatest number of well-established enterprises. Besides, one of the biggest cryptocurrency markets is found in North America and thus has the potential for incubating DeFi systems. Europe ranks second in decentralised finance markets because companies providing DeFi technology solutions enjoy some perks there. The monopoly of money, funds products and financial services distribution, by banks, and other financial institutions is overthrown by such a system. Moreover, it eliminates the utilisation fees that consumers are charged by banks and other financial institutions.
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Decentralized Finance (DeFi) Market Insight
Drivers:
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Accessing Financial Products Without Needing a Traditional Bank Account
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Rising Demand in E-Sports and Gaming
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Growing Use of Digital Currency
Restraints:
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Risks Associated with Smart Contracts
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Regulators Are a Source of Concern
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Decentralized Nature of Defi too Difficult to Deal
Prominent Players in Global Decentralized Finance (DeFi) Market
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Dapper Labs, Inc. (Canada)
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Badger DAO (US)
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Bancor Network (Switzerland)
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Curve Finance (US)
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MakerDAO (US)
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SushiSwap (Japan)
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Uniswap (US)
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Synthetix (Australia)
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Balancer (US)
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Compound Labs, Inc. (US)
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Key Questions Answered in Global Decentralized Finance (DeFi) Market Report
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What role does the elimination of centralized control play in the decentralized finance apps’ explosive rise in the worldwide DeFi market?
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What are the driving forces behind blockchain technology’s supremacy in the global DeFi market, and how does it draw in institutional investors?
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What benefits does North America provide to DeFi systems over other regions, and why has it become the dominant force in the decentralized finance (DeFi) market?
This report provides the following insights:
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Analysis of key drivers (Exponential growth in e-sports betting, anonymous direct payments without putting one’s own money at risk, rapid increase of cryptocurrency use and decentralised technology used by the cryptocurrency market), restraints (Different nations have different legal frameworks, severe clauses & poorly designed contracts and attacks on blockchain networks), opportunities (Improved user experiences is increasing, building intuitive DeFi platforms and DeFi offerings are governed by central entities), and challenges (There are no equivalent safeguards in DeFi and DeFi run at significant danger of being compromised) influencing the growth of decentralized finance (DeFi) market
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Market Penetration: Comprehensive information on the product portfolios offered by the top players in the decentralized finance (DeFi) market
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Product Development/Innovation: Detailed insights on the 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: Exhaustive information about new products, growing geographies, and recent developments in the market
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Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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