What's Driving the Blockchain Market Growth? Eminent Players: IBM, AWS, Microsoft, SAP, Intel, Oracle, Bitfury, among Others

The Global Blockchain Market is expected to grow from USD 1.59 billion in 2019, to reach USD 201.01 billion by 2028, growing at a CAGR of 71.1% during the forecast period.

This detailed market study covers blockchain technology market growth potentials which can assist the stake holders to understand key trends and prospects in identifying the growth opportunities and competitive scenarios. The report also focuses on data from different primary and secondary sources, and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global blockchain technology market

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According to the report, increasing demand for this technology across financial services, consumer and industrial products, technology, media and telecommunications, healthcare, transport, and government sectors is expected to drive the blockchain market during the forecast period.

What is Blockchain Market?

Blockchain technology functions as an electronic system for processing transactions and record keeping. This allows varying respondents connected to the network, basically public, to track information through a reliable network, thereby eliminating the need for any kind of verification by third parties. Increasing internet-based transactions, currency digitization, and reliable online payment gateways are just a few of the main factors projected to drive demand in the upcoming years. Because of the extensive advantages of this technology, the blockchain market is expected to exhibit significant growth, such as eliminating the need for any financial institution to authenticate transactions, eliminating reconciliation, decreasing duplicative recordkeeping, facilitating quicker settlement and minimizing the error rate. This technology enables access to databases from everywhere, allowing it to be used concurrently by various entities to put different systems nearer and assist in enhancing effectiveness.

Key Factors Impacting the Growth of Blockchain Market:
o Increasing the use of internet-based banking across the globe.
o Acceptance of blockchain technologies by various industries.
o Encrypted business transactions with a swift settlement period.
o Favorable government programs towards realizing the cashless economy.

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This report provides:
1) An overview of the global market for blockchain technology market and related technologies.
2) Analysis of global market trends, yearly estimates and annual growth rate projections for compounds (CAGRs).
3) Identification of new market opportunities and targeted consumer marketing strategies for global blockchain technology market.
4) Analysis of R&D and demand for new technologies and new applications
5) Extensive company profiles of key players in industry.

The researchers have studied the market in depth and have developed important segments such as product type, application and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.

With an emphasis on strategies there have been several primary developments done by major companies such as IBM, AWS, Microsoft, SAP, Intel, Oracle, Bitfury, Cegeka, Earthport, Guardtime, Digital Asset Holdings, Chain, Huawei, BlockCypher, Symbiont, BigchainDB, Applied Blockchain, Records Keeper, Blockpoint, Auxesis Group, BTL Group, Blockchain Foundry, AlphaPoint, and Factom.

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Market Segmentation:

By Providers:
o Application Providers
o Middleware Providers
o Infrastructure Providers

By Organization Size:
o Large Enterprises
o Small & Medium-sized Enterprises

By Application:
o Payments
o Smart Contracts
o Documentation
o Digital Identity
o Supply Chain Management
o Governance
o Risk
o Compliance Management
o Others

By End User:
o BFSI
o Government
o Healthcare and Life Sciences
o Media and Entertainment
o Retail and E-Commerce
o Travel and Hospitality
o Transportation and Logistics
o Real Estate
o Energy and Utilities
o Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Providers
o By Organization Size
o By Application
o By End-User

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Providers
o By Organization Size
o By Application
o By End-User

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Providers
o By Organization Size
o By Application
o By End-User

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Providers
o By Organization Size
o By Application
o By End-User

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Providers
o By Organization Size
o By Application
o By End-User

Rest of the World
o By Region (South America, Africa)
o By Providers
o By Organization Size
o By Application
o By End-User

Reasons to Buy This Report:
o Market size estimation of the global blockchain market on a regional and global basis.
o The unique research design for market size estimation and forecast.
o Profiling of major companies operating in the blockchain market with key developments.
o Broad scope to cover all the possible segments helping every stakeholder in the blockchain market.

Customization:
We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

Contact:

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
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Email: sales@quincemarketinsights.com
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This release was published on openPR.