What's driving the Blockchain Technology market Share? Chain Inc., Ripple, Eric Industries, Microsoft, Circle Internet Financial Limited, R3, Samsung, Deloitte, IBM, Deloitte, Linux Foundation

Worldwide Blockchain Technology market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

According to a new study the global blockchain technology market is anticipated to reach USD 16.82 billion by 2026. Also termed as Distributed Ledger Technology (DLT), blockchain enables secure transaction over a distributed network. Since the transactions are taken place usually over the network, it is difficult to reverse the transaction history. Blockchain also eliminates the need of third-party verifications since the ledgers are shared by all the parties over the distributed network. These are some of the major factors for adoption of blockchain technology.

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Blockchain technology is currently being adopted majorly by the financial institutions due to its benefits such as reduced infrastructural costs for reconciling statements, data management settlements etc. It has also been proven beneficial to increase the transactional speed by eliminating the need of trusted third party. Bitcoin uses cryptography for securing its ledgers, thus ensures high security platform for the transactions.
Adoption of blockchain is not limited to the financial sector, however it is being implemented across different verticals. For example, with blockchain’s extended support for Internet of Things (IoT), the technology and telecom vertical is implementing blockchain for initiating a better coordination between different devices. This sector is also benefitting from blockchain because of its feature to eliminate the processing fees which gets levied by third parties. Healthcare vertical is also focusing on blockchain for securing its important and sensitive data and documents and for securing its digital assets.

Key Findings from the study suggest the largest share of this market in 2017 was of North America, as there are a fundamentally high number of ventures adopting the blockchain technology. The technology will have the capacity to help IoT applications in technology and telecom sector along with the enhanced payment solutions. The healthcare segment will adopt this this technology owing to secure their sensitive information.

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Asia Pacific market is anticipated to grow at a faster pace because of its changing financial framework which drives the demand for secure and low-cost online payment transfers. Speculations have been that more companies would invest in this technology, thus tapping the huge potential in this market. Companies such as Chain Inc., Ripple, Eric Industries, Microsoft, Circle Internet Financial Limited, R3, Samsung, Deloitte, IBM, Deloitte, Linux Foundation, BTL Group, are some of the prominent players in this market.

Table of Contents:

1. Overview and Scope

2. Executive Summary

3. Blockchain Technology Market Insights

4. Blockchain Technology Market Size and Forecast by Application Type

5. Blockchain Technology Market Size and Forecast by Organization Size

6. Blockchain Technology Market Size and Forecast by End-Use Type

7. Blockchain technology Market Size and Forecast by Regions

8. Company Profiles

More Details on this Report At: https://www.marketstudyreport.com/reports/blockchain-technology-market-by-application-type-financial-services-consumer-products-technology-media-telecom-healthcare-transportation-public-sector-by-regions-market-size-forecast-2017-2026

Related Report:

Global Blockchain Technology in Healthcare Market Size, Status and Forecast 2019-2025

The development in offering competent healthcare services is extremely dependent on its advancements in the information technology, and the ability to store and record information economically and easily as well as share it securely amongst disparate applications & systems. Blockchain technology is gradually being touted as the solution for the interoperability as well as security concern that plague the outmoded health systems. This report focuses on the global Blockchain Technology in Healthcare status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Blockchain Technology in Healthcare development in United States, Europe and China.

https://www.marketstudyreport.com/reports/global-blockchain-technology-in-healthcare-market-size-status-and-forecast-2019-2025

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