Global Blockchain Technology Market 2024| Industry Crucial Players - Microsoft Corporation, Deloitte Touche Tohmatsu Limited, IBM Corporation, R3, Chain Inc., Consensus Systems (ConsenSys), Ripple, Digital Asset Holdings LLC, Credits

The increased cost-effectiveness and speed of blockchain transactions owing to the elimination of third party authentications has significantly boosted the demand for these technologies by individuals and organizations worldwide. In addition, high-end security and encryption of blockchain is also expected to reduce fraud and related cybercrime, resulting in market growth. Revenues arising from blockchain technology market activities are expected to grow at a massive CAGR of more than 58.7% through 2024. Such insights have been extracted from the report titled “Blockchain Technology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” that was recently included in the massive repository of Market Research Reports Search Engine (MRRSE).

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The integration of IOT (internet of things) with blockchain technologies by various industries such as finance, healthcare and music is expected to increase scope of operations through digitalization of services being provided.

North America is expected to continue as the leader in blockchain technology market share owing to the presence of major market leaders, faster adoption, and rising investments for further development of the technology in the region. In addition, increasing digitization of the economies of countries like India, Japan and China are also aiding in market growth of the Asia Pacific region. Key market players are focusing on merger and acquisition strategies along with diversifying product portfolios to gain competitive benefits.

Blockchain Technology Market: Report Summary

The report delivers an extensive analysis at a regional and global level & detailed forecast on the blockchain technology market, in terms of value (US$ Mn), for the period of forecast 2016 to 2024. Vital aspects, such as social, political, and economic factors impacting development and demand for blockchain technology have been extensively assessed in the report.

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An exhaustive value chain analysis on the blockchain technology market industry has been offered in the report, and the Porter’s Five Forces model has effectively been used to help in better understanding about the competitive scenario among key market players. A complete market attractiveness analysis, where applications have precisely assessed on the basis of their market size, general attractiveness, and growth rate, has also been included in the report. Market players have been benchmarked in terms of company overview, SWOT analysis, business strategies, and recent relevant developments.

Blockchain Technology Market: Research Methodology

In-depth discussions and interviews have been conducted with a variety of key industry experts and opinion leaders in order to create this report. Extensive primary and secondary research methodologies have been used, to extract reliable and relevant insights on the blockchain technology market industry. Primary research comprises bulk of the research efforts, which is further supplemented by comprehensive secondary research.

Key market players in the blockchain technology market industry have been closely assessed, while vital information has been taken from press releases, annual reports, and other relevant documents to gain understanding of the market’s competitor landscape and overall situation. The research approach used here is regarded to be successful in recognizing and extracting actionable insights on the market data, identifying unexplored business opportunities, and gaining a better perception on the players of the industry.

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