Blockchain Technology Market Booming at CAGR of 42.8% By 2022 Companies benefiting the Boom are Microsoft Corporation, IBM, Accenture, Deloitte, Capgemini, Cognizant, Infosys, Tata Communication Services, VirtusaPolaris and Wipro

Blockchain technology is being used increasingly in the Banking Financial Services and Insurance (BFSI) segment for financial transactions and cross-border payments. In the banking and financial sector, it is utilized to secure payments, maintain customer identities, settle cross-border payments, etc. The global Blockchain market is expected to grow at a CAGR of 42.8% (2017-2022), resulting in global revenue of USD 13.96 billion by 2022.
Blockchain technology is also employed in the healthcare sector, supply chain management, energy, media, informatics, etc. BFS,I however, holds the largest share while Blockchain in retail industry under supply chain management is the fastest growing sector.
The Blockchain Technology market is further classified into three main types based on its users’ accessibilities – Public Blockchain Technology, Private Blockchain Technology and Mixed Blockchain Technology. Public Blockchain technology rules the roost.
The US dominates in Blockchain patents application. About half of the total Blockchain patents applied are primarily for financial applications.

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Key growth factors
Financial Technology (FinTech) companies are planning to invest a part of their total investment in the distributed ledge technology, i.e., Blockchain. The decentralized nature of technology attracts the banking sector to adopt it.
The Blockchain technology market is expected to exhibit swift growth owing to less time consumption and its transparent nature that also requires less transaction costs.
Threats and key players
Even though the Blockchain market is expected to grow globally, there still a lack of awareness, regulation problems and clashes of ideology that hinders its adoption.
Some of the Blockchain technology providers in the Blockchain market are Microsoft Corporation, IBM, Accenture, Deloitte, etc.
Major key player profiled in this Report are Microsoft Corporation, IBM, Accenture, Deloitte, Capgemini, Cognizant, Infosys, Tata Communication Services, VirtusaPolaris and Wipro
Key market dynamics of the ABC industry is the best part about this Blockchain technology market research report. This Blockchain technology market research report deals with the analysis of the up-and-coming trends along with major drivers, restraints, challenges and opportunities in the market for ABC industry. Analysis and discussion of important industry trends, market size, and market share are estimated in the BLOCKCHAIN TECHNOLOGY report. This BLOCKCHAIN TECHNOLOGY report also presents an analysis of prime manufacturers, trends, opportunities, marketing strategies, market effect factor and consumer needs by major regions, types, and applications globally while considering the past, present and future state of the ABC industry.

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This Blockchain technology market analysis gives an examination of a range of segments that are relied upon to witness the quickest development amid the estimate forecast frame. The company profiles of all the key players and brands that are dominating the Blockchain technology market with moves like product launches, joint ventures, mergers and acquisitions which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report. The data and information covered in the Blockchain technology report are obtained from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts.

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