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Global Blockchain Technology Market to Witness Stellar Growth Rate in the Next 10 Years

01-28-2019 09:52 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Infinium Global Research

/ PR Agency: Infinium Global Research
Infinium Global Research

Infinium Global Research

The report defines the blockchain technology as the record keeping technology that contains the information within the chain of blocks. Blockchain uses cryptography to secure the communication. In the blockchain technology, the chain of blocks is used to hold every information about transactions. Blocks used in the transaction contains unique cryptographic hash along with the information about the previous block used in the same transaction. Even a small change in a transaction creates a completely new hash.

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Growing adoption of blockchain across various industry verticals is driving the growth of blockchain technology market. The blockchain is a trending technology that used in the BFSI, media and entertainment sector healthcare and life sciences retail and e-commerce sector power generation and other industry verticals. Blockchain offers superior ability to maintain records with a minimum cost of operation.    This technology is vastly used in the banks, government, and public databases as it provides a better security solution for fund transferring.

In addition, blockchain technology used in the backing and financial sector offers lower transaction fees, high transparency and minimize the hacker’s attacks with improved securities. Furthermore, the use of this blockchain technology in the power sector is also increasing. Several utilities are evolving into a distributed and smart power grid. The various organization and the companies are investing in distributed power generation that expected to escalate the demand for blockchain technology in the energy sector. Moreover, adoption of the baas business model from the individuals and businesses is rising that anticipated to boost the demand of blockchain technology market in upcoming years.

Segmented by Applications

On the basis of application, global blockchain technology market segmented as Payments, Digital Identity, Smart Contracts, Documentation, and other applications. Blockchain technology is enormously being used in these applications owing to its offered security benefits. The growing popularity of smart contract is contributing to the growth of the blockchain market.

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Regional Analysis

The report of global blockchain technology market covers geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, North America is the dominating region in this market followed by Europe. High adoption of blockchain technology in the BFSI and healthcare industries are driving the growth of blockchain technology in this region. In addition, the high rate of new technology acceptance is contributing to the growth of this market. In addition, the Asia Pacific is the fastest growing region in this market owing to the rising adoption on blockchain technology, growing energy and healthcare sector, and digital advancements in the banking and financial sectors.

Competitive Landscape

The report offers profiles of the companies in the global blockchain technology market such as IBM Corporation, Microsoft Corporation, Amazon, Blockchain Tech Ltd, AWS, Earthport, BTL Group, Factom, Ripple, and Abra.

Browse detailed TOC and Description of this Premium Report@ https://www.infiniumglobalresearch.com/ict-semiconductor/global-blockchain-technology-market

About Infinium Global Research

Infinium Global Research and Consulting Solutions is started with a single motto of being a business partner of the first choice. We at Infinium work on the strengths of our clients to ensure we help them consolidate their market position. We firmly believe in the fact that ‘if you are able to develop newer opportunities then you find there is no dearth of opportunities for you. With our strategic research approaches and deep dive in the market segments, we try to find out new opportunities that our clients can encash with their existing resources. Our experts with over 100 years of cumulative experience in research offer the best in the industry services to our clients to ensure that they achieve their business goals.

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Infinium Global Research
Office No. 04, 06, Ganadhish Empire,
Rahatani Corner, Pune, MH 411027
Email: info@infiniumglobalresearch.com
Website: www.infiniumglobalresearch.com

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