Blockchain Market Infrastructure Growth and Development 2018 to 2026

Blockchain technology can be used to build a permanent and transparent ledger system for gathering data on exchanges, real-time tracking of digital transaction and payments, and to prevent frauds and errors, are also factors expected to boost the blockchain technology market growth.

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Key players operating in the Blockchain market include IBM Corporation, Microsoft Corporation, Amazon.com, Inc., SAP SE, Intel Corporation, Samsung Group, NVIDIA Corporation, Xilinx, Inc., AMD, Inc., Siemens AG, Accenture Plc, and Infosys Ltd.

Blockchain technology is a decentralized software program that enables protected digital transactions of digital currencies such as Bitcoin. These transactions are recorded in the register from a number of computers. The register maintains a continuous set of data containing information about the transaction records without changing the transaction information. The data in the register is maintained in the form of lists, which are organized in Blocks for each time period. These Blocks consist of information about the transactions, and provide a reference to the previous Block, thus, linking the prior to the present. Block links to the prior Block to form a Blockchain. Generally, one Block contains the information about a set of transactional records for a particular period of time or fixed memory size.

Blockchain permits applicants to authenticate and review transactions. Blockchain-based transactions of value can be completed in faster way, more safely, and economically than conventional transaction systems. Rising popularity of these ledger chains has led to a significant increase in total capital investments in cryptocurrencies. As of December 2017, according to CoinMarketCap, a cryptocoin price market capital tracker, total market capitalization of the cryptocurrencies was valued at over US$ 500 billion from around US$ 18 billion in 2016.

Regional Insights

The blockchain market is expected to be segmented on the basis of geography in North America, Europe, Asia Pacific, Latin America, Middle East, and Africa regions. The market in North America is expected to be dominant in the global market, owing to rising awareness and increasing applications of this technology in various segments. For instance, U.S. Department of Energy is exploring the application of blockchain technology for the management of next-generation power grids.

Competitive Insights

Key players in this market are focusing on new application areas for this technology. For instance, in April 2017, IBM partnered with ASCAP and PRS for implementing blockchain technology in music distribution to improve data accuracy.

Blockchain Market Taxonomy:

On the basis of offering, the blockchain market is segmented into:
• Hardware
◦ GPU
◦ FPGA
◦ ASIC
◦ Microprocessors
◦ Memory
• Software
◦ Platform
◦ Solution

On the basis of market type, the blockchain market segmented into:
• Private
• Public
• Consortium

On the basis of end-user industry, the blockchain market segmented into:
• Initial Coin Offering Institutions
• Digital Currency Providers
• Blockchain Stocks
• Peer to Peer Lender
• Banking, Financial Services, and Insurance (BFSI)
• Information Technology

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This release was published on openPR.