Market Insights Digital FinTech Digital Assets

DeFi - Georgia

Georgia

The [currentlayername], which refers to decentralized finance, is projected to witness a substantial growth in revenue in the coming years.
By 2024, it is estimated that the revenue in this market will reach an impressive amount of [revenueyeartoday].
This growth is expected to continue steadily, with an annual growth rate of 7.48% from 2024 to 2028.
As a result, the projected total revenue in the [currentlayername] is expected to reach a significant sum of US$3,013.00k by 2028.
In terms of user statistics, the average revenue per user in the [currentlayername] is anticipated to amount to US$224.00 in 2024.
This metric provides insights into the revenue generated by each individual user within the market segment.
When comparing the [currentlayername] globally, it is worth noting that the United States stands out with the highest revenue.
In 2024, the revenue the United States is projected to reach a staggering US$12,530,000.00k, showcasing the country's dominance in this market segment.
Looking ahead, the number of users in the [currentlayername] is expected to grow significantly.
By 2028, it is estimated that the number of users will reach 11.31k users.
This indicates a positive trend in terms of user adoption and engagement within the [currentlayername].
Additionally, user penetration, which refers to the proportion of the population actively participating in the [currentlayername], is expected to increase over time.
In 2024, user penetration is projected to be 0.26%, and this figure is anticipated to rise to 0.29% by 2028.
These numbers and insights highlight the potential and growth prospects of the [currentlayername], both on a global scale and within the country of georgia.
The DeFi market in Georgia is witnessing a surge in adoption, with local crypto enthusiasts embracing decentralized finance solutions for financial inclusion.

Key regions: India, Japan, Asia, United States, South Korea

Market

Region

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Currency

Analyst Opinion

The DeFi (Decentralized Finance) market is currently experiencing significant growth and innovation. One current trend is the rise of decentralized exchanges (DEXs), which allow users to trade cryptocurrencies without a central authority. Another trend is the emergence of yield farming, where users can earn rewards for providing liquidity to DeFi protocols. Additionally, the integration of non-fungible tokens (NFTs) into DeFi is also gaining popularity, allowing for new ways to collateralize assets.
The growth of the DeFi market is driven by several factors, including the increasing demand for decentralized financial services that are more accessible, transparent, and inclusive than traditional finance. Additionally, the flexibility and programmability of blockchain technology enable the creation of new financial instruments and services that were previously impossible. The availability of decentralized lending, borrowing, and trading platforms also contributes to the growth of DeFi, allowing users to interact with financial markets in a more decentralized and permissionless way.
Looking ahead, the DeFi market is expected to continue growing. Factors that are expected to drive this growth include the ongoing development of new DeFi use cases and applications, the increasing adoption of cryptocurrency by mainstream investors, and the continued emergence of new DeFi platforms and protocols. However, the market is also likely to face challenges, such as regulatory uncertainty and security concerns, which could impact its growth in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.