Blockchain Market Growth Rising at 79.6% CAGR to Reach US$ 7,683.7 Million by 2022: Key Players Abra, AlphaPoint, Amazon Web Services, Inc., Bitfury Group Limited, BTL Group Ltd., Chain, Inc., Coinbase and More

The global blockchain market size is expected to grow from USD 411.5 million in 2017 to USD 7,683.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 79.6%.

The demand for distributed ledger technology, reduced total cost of ownership, rising cryptocurrencies market cap and initial coin offerings, increasing demand for simplified business processes, transparency and immutability, faster transactions, and Blockchain-as-a-Service are said to fuel the growth of this market.

In addition, rising importance and adoption of blockchain for communication service providers, transformation of international trade and supply chain management, new breed for programmable blockchain platforms, and high adoption of blockchain for payments, smart contracts, and digital identities would create opportunities for the growth of this market. However, uncertain regulatory status and a common set of standards might hinder the overall growth of the market.

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The blockchain is a peer-to-peer technology with nodes supporting the ledger and the mining process, and enables connectivity that significantly transforms the payment industry. The integration of the technology provides real-time payments against assets with an immutable state and digital identity, and result in substantial cost savings in the context of reconciliation and settlement for many financial institutions and banks. In addition, blockchain automates the payment processing activities, eliminates the need for intermediaries, and reduce the administrative costs and time for providers and payers. All these factors are expected to be fueling the overall growth of this segment in the blockchain market.

Blockchain solution providers in the APAC region, design and develop user-friendly, cost-effective, and faster processing cryptocurrency platforms to enhance the application reach of blockchain in multiple industry verticals. Large enterprises and SMEs have been adopting venture funding strategies and are investing in R&D activities in an effort to provide technologically advanced blockchain solutions. In addition, the rapid transformation of the potential countries from semi-transparent to transparent real estate sector has propelled the market growth of blockchain in the APAC region.

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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of the profiles of the primary participants is given below:
By Company: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%

By Designation: C-level: 60%, Director level: 25%, and Others: 15%

By Region: North America: 10%, Europe: 20%, APAC: 40%, and ROW: 30%

The key vendors profiled in the report such as Abra (US), AlphaPoint (US), Amazon Web Services, Inc. (US), Bitfury Group Limited (US), BTL Group Ltd. (Canada), Chain, Inc. (US), Coinbase (US), Digital Asset Holdings LLC. (US), Earthport PLC (UK), Factom (US), International Business Machines Corporation (US), Microsoft Corporation (US) and Ripple (US).

Related Report:

Global Blockchain Technology Industry Market Research Report

The Blockchain Technology market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Blockchain Technology industrial chain, this report mainly elaborate the definition, types, applications and major players of Blockchain Technology market in details.

Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Blockchain Technology market.

Read More: https://bit.ly/2QJFC5U

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