Decentralized Finance (DeFi) Market Growth & Trends
The global decentralized finance market size is expected to reach USD 231.19 billion by 2030, expanding at a CAGR of 42.5% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The industry is growing in terms of revenue due to rapid technological advancement and innovation in the crypto industry. Another element fueling the industry expansion is the degree of transparency and real-time settlement of financial transactions on DeFi (Decentralized Finance) networks. The rising popularity of DeFi services is anticipated to open new opportunities for industry growth. In addition, the increasing adoption and acceptance of crypto are driving growth.
For instance, in July 2022, Visa surveyed 2,250 small business owners across the globe. According to the survey, 25% of respondents said that they would be accepting crypto assets as payment options. The growing acceptance of crypto assets bodes well for industry growth. Visa anticipates that the DeFi movement is expected to lead to new business prospects for established banks and other financial services providers in the near future. Financial institutions will eventually be able to integrate end-to-end solutions as use cases continue to grow and solidify. For instance, financial firms might be able to provide institutional clients with asset securitization and financing under DeFi protocols.
They might also begin offering services designed specifically for Web 3.0 enterprises and business owners, such as risk management and compliance as a service or insurance underwriting for DeFi protocols. The DeFi sites emerged during the COVID-19 pandemic as investors looked for yield in response to historically low-interest rates. Most DeFi services offer similar services as conventional financial services but with less regulation, which was the prime reason investors shifted their interest toward DeFi during the COVID-19 pandemic. DeFi platforms are decentralized with no single entity exerting control, which is anticipated to open new growth opportunities for the industry.
Decentralized Finance Market Report Highlights
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