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The Block chain Market registers enormous growth rate during the forecast period, 2017–2023

04-19-2018 01:31 PM CET | IT, New Media & Software

Press release from: Genesis market insights

The Block chain Market registers enormous growth rate during

Global Block chain Market was valued at USD 357.7 million in the year 2017. Global Blockchain market is further estimated to grow at a CAGR of 74.5% from 2018 to reach USD 10.10 Billion by the year 2023. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period due to high adoption and acceptance of blockchain technology. At country level U.S, Japan & China is projected to grow strongly in the coming years.

JP Morgan Chase (U.S), IBM Blockchain (US), Microsoft Blockchain (US), Chain, Inc. (US), Amazon AWS (U.S) and Abra (US) are some of the key players in the Global Blockchain market. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Rapidly growing cryptocurrency market
Providing faster transactions
Unregulated and not monitored by any central bank
Increasing traceability and customer experience
Providing Security of online communications
Security & privacy
Lack of awareness about technology

The segmentation are done on the basis of provider, by application, by organization size, by industry vertical and by region. On the basis of application, the global blockchain market is sub segmented as payments, smart contracts, exchanges, documentation, digital identity, supply chain management, governance, risk and compliance management and others (digital voting and content storage management) of which the payment segment is expected to hold the highest market share during the forecast period. On the basis of providers application and solution provider holds the highest market share in coming years.

The segmentation done on the basis of Industry Vertical, the real estate segment is expected to hold the highest market share among other industries. On the basis of Organization Size the market is segmented as small and medium-sized enterprises (SMEs) and large enterprises of which large enterprises is expected to grow at the highest CAGR during the forecasted period.

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Key Benefits for Stakeholders
Blockchain Manufacturers, Distributors and Retailers
Research and Consulting Organization
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Regulatory bodies, policy actors and consumers.

By Application
Smart Contracts
Digital Identity
Supply chain management
Governance, risk and compliance management
Others (digital voting and content storage management)

By Provider
Application and solution provider
Middleware provider
Infrastructure and protocol provider

By Organization Size
Small and Medium-Sized Enterprises (SMEs)
Large enterprises

By Industry Vertical
Banking, Financial Services, and Insurance (BFSI)
Government and public sector
Healthcare and life sciences
Media and entertainment
Retail and e-commerce
Travel and hospitality
Transportation and logistics
Real estate
IT and telecommunications
Others (automotive, education, and energy and utilities)

By Region
North America

Key Market Players
360 Blockchain Inc.
Amazon AWS
Abra (US)
IBM Blockchain
Microsoft Blockchain
Chain, Inc.
BTL Group
JP Morgan Chase
(A brief overview of 13 companies is also provided)

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Detailed customization is also available for you. Further, if the report listed above does not meet with your key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.

Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports.

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