Press release
India Blockchain Technology Market (2018-2024)-6Wresearch
India Blockchain Technology Market (2018-2024)-6Wresearch
Blockchain technology, popularly known as a protocol for value exchange is registering rising adoption among several applications including banking and financial services, transportation, supply chain as well as government verticals in India. The solution is gaining awareness owing to more efficient, transparent, and secured database solutions. Further, recent pilot project initiatives in Andhra Pradesh would result in greater adoption of blockchain solution in certain key states including Delhi, Madhya Pradesh, Uttar Pradesh and Punjab over the coming years.
According to 6Wresearch, India blockchain technology market is projected to grow at a CAGR of 58% during 2018-24. The market would be highly dependent on increasing growth of digital payment solution through several intermediaries including digital wallets and Unified Payment Interface (UPI); digital payment solution market is projected to grow around 10 times and cross $500 billion by 2020 as compared to around $50 billion in 2017. This would give the desired push for the integration of blockchain technology for much secured transactions.
Explore Press Release : http://www.6wresearch.com/press-releases/india-blockchain-technology-market-share-forecasts-size-growth-opportunity-shipments-cagr-players-trends-news-company-profile.html
According to Babu Munagala, Founder and CEO, Zebi Data India Pvt. Ltd., "Blockchain technology is bound to register substantial growth over the coming years. Currently, consumer awareness for this particular technology is at a very niche stage. However, with surging growth of blockchain integration in several verticals, majorly driven by government and enterprise segment, the market is projected to register considerable growth over the next 2 to 3 years."
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "In 2017, public blockchain segment registered maximum revenue share owing to greater need for blockchain solution integration among available public networks in the country."
"In terms of regions, the Western region recorded highest revenue share in India due to surging consumer adoption for blockchain technology solution pertaining to BFSI, transportation and logistics, and several other verticals."
According to Anuj Mehrotra, Senior Research Analyst, Research and Consulting, 6Wresearch, "Recent fraud in Punjab National Bank (PNB) of more than $1.7 billion, devastated the faith of security in public entities among Indian consumers. Banking sector has already initiated plans to evaluate the adoption of blockchain solution in the present banking ecosystem to avoid fraudulent activities and scams. For instance, in Feb 2018, State Bank of India (SBI) initiated its exploration in the adoption of blockchain technology. Additionally, the financial application vertical is anticipated to record higher growth rate and cross 58% revenue share by 2024."
Some of the key players in India blockchain technology market include- Zebi, Primechain, Krypc, Accubits and IBM, and Ernst & Young.
"India Blockchain Technology Market (2018-2024)" report provides in-depth analysis with 38 figures and 3 tables covered in more than 80 pages. The report thoroughly covers the blockchain technology market by applications, technology, end users, and regions. The report also offer an unbiased and detailed analysis of the on-going trends, opportunities, high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
For Sample Pages & Detailed Report Description Visit : http://www.6wresearch.com/market-reports/india-blockchain-technology-market-2018-2024-forecast-by-technology-type-applications-end-user-regions-competitive-landscape-iot.html
6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography.
Delhi/NCR Office
1107-1108, PEARLS BEST HEIGHTS
TOWER 1, NETAJI SUBHASH PLACE
PITAMPURA, New Delhi-110034
Email sales@6wresearch.com
Phone: +911143024305
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release India Blockchain Technology Market (2018-2024)-6Wresearch here
News-ID: 1054001 • Views: …
More Releases from 6Wresearch- Market Intelligence Solutions
Why the Global Transformers Market is Growing Steadily with Rising Power Demand …
The global transformers market growth has boosted in the recent years as it has been influenced by an increase in the demand for electricity, rapid urbanization, and expansion of power transmission and distribution networks. Transformers are important in electrical infrastructure which enable efficient voltage regulation for power generation, transmission, and end-use applications. The demand for reliable and high-performance transformers is steadily increasing, with rising investments in energy infrastructure and the…
Why the Global Washing Machine Market is Expanding with Technological Advancemen …
The global washing machine market is estimated to grow in the coming years as it is driven by some major factors, such as increasing consumer demand for home appliances and technological innovations. Other factors that are boosting the growth of the market include the rising focus on time-saving solutions and the growing trend of smart home integration, where consumers are preferring more advanced, and automated washing machines. Washing machines have…
Why the Global Wallet Market is Growing Steadily with Digital Payments and Finan …
The global wallet market growth has been witnessing a surge over the years as it has been driven by some major reasons, such as the rapid shift toward cashless transactions and the increasing adoption of digital payment solutions worldwide. Wallets, especially digital wallets, have become an important part of daily life for consumers and businesses, as they offer convenience, security, and seamless transaction experiences. Also, with the rising penetration of…
Why the Global Wall Clock Market is Growing Steadily with Advancements in Design …
The global wall clock market has experienced consistent growth in recent years, which is driven by a combination of evolving consumer preferences, home decor trends, and advancements in clock technology. Wall clocks, once considered functional household items, are now becoming stylish decor pieces that improve the aesthetics of living rooms, offices, and other spaces. The increasing emphasis on home decoration, as well as the growing focus on convenience and time…
More Releases for India
India Smart Air Purifier Market Set to Witness Significant Growth by 2035 | Phil …
India smart air purifier market was valued at $125.8 million in 2024 and is projected to reach $298.7 million by 2035, growing at a CAGR of 8.3% during the forecast period (2025-2035).
India Smart Air Purifier Market Overview
The Indian smart air purifier market is experiencing significant growth, driven by increasing concerns over air pollution and its impact on health. Consumers are increasingly adopting smart air purifiers equipped with advanced features…
Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li …
RnM newly added a research report on the Ayurvedic Service market, which represents a study for the period from 2020 to 2026.
The research study provides a near look at the market scenario and dynamics impacting its growth. This report highlights the crucial developments along with other events happening in the market which are marking on the growth and opening doors for future growth in the coming years. Additionally, the…
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the…
Interior Designers India, Designers and Architects India, Interior Design Consul …
Synergy Corporate Interiors Pvt. Ltd. are offer Designers and Architects India Our architects, designers are working an national and international client base. The final design output is then integrated with the various technical and engineering aspects and taken into production. The expression is also individualistic, based on the communication of the correct corporate identity. Our designers, engineers and architects perform any plan successfully combine handy knowledge with creative ideas into…
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat …
All the Domain Registration services are at affordable price and assure you for the 100% quality.
India Internet offers cheap domain name registration for many domain extensions available. We are a full-service web site solutions provider. We offer a full range of web services including domain registration India, Web Hosting India, Web design, SEO marketing and etc.
We offer different standard and different Windows .NET low-cost, full-featured, all-inclusive web hosting and domain…
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer.
During the domain registration process, you will…
