Blockchain Market is Rising Need for Improving Industrial Efficiency at the Highest CAGR of 79.9% with Top Competitors and Global Forecast to 2025

Global Blockchain Market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Blockchain Market Projected for USD 242.4 million in 2017 and is growing at a CAGR of 79.9% during the forecast period of 2018 to 2025.

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Major Market Drivers:

• Helps in total ownership cost reduction, transparency, and faster transaction
• Growth in blockchain services
• Increase in the adoption of blockchain technology with respect to payments, digital identities and smart contracts
• Introduction of new breed of programmable blockchain platforms

Market Segmentation:

The global blockchain market is Segmented Based On
• organization size,
• applications,
• end users and
• geographical segments.

Based on Organization Size, the global blockchain market is segmented into

• small and medium sized enterprise and
• large sized enterprise.

On the Basis Of Application, the global blockchain market is segmented into

• payments,
• documentation,
• smart contracts,
• digital identity,
• exchanges,
• governance,
• risk, and
• compliance management,
• supply chain management and others.

On the basis of End Users, the global blockchain market is segmented into

• government and public sector,
• healthcare and life sciences,
• banking,
• financial services and insurance,
• transportation and logistics,
• retail and ecommerce,
• media and entertainment,
• IT and telecommunication,
• travel and hospitality,
• real estate and others.

Based on Geography, the global blockchain market report covers data points for 28 countries across multiple geographies such as

• North America,
• South America,
• Europe,
• Asia-Pacific and Middle East & Africa.

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Blockchain Market With the surge in the adoption of blockchain technology with respect to payments, digital identities, and smart contracts along with the growth in its services is poised to boost the market demand in the forecast period of 2018 to 2025.

Major Market Competitors:

• IBM Corporation,
• Microsoft Corporation,
• AWS,
• Digital Asset Holdings,
• Earthport,
• BTL Group,
• Chain Inc.,
• Factom,
• Ripple,
• Alphapoint,
• Bitfury,
• Coinbase and
• Abra among others.

Blockchain Market report defines the trends and forecast the upcoming opportunities and threats of the blockchain market in the upcoming 8 years. Blockchain is just a digitalized immutable ledger of economic transactions which can record not only the financial transactions but everything related to value. It can be used during payments, smart contracts, digital identity risk and compliance management and many more. One of the major factors such as increase in the adoption of blockchain technology is driving the market demand. This has increased the annual savings for banks and also has reduced infrastructure cost. For instance, According to DMR, around USD 8-12 billion were reported as annual savings for the banks who have utilized blockchain technology.

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This release was published on openPR.