Press release
Blockchain Services Market Strategic Assessment Of Emerging Technologies 2020 – 2023 By Top Key Players Capgemini, Wipro, Mphasis, TCS
The Business Research Company
The global blockchain services market is expected to decline from $1.26 billion in 2019 to $1.06 billion in 2020 at a compound annual growth rate (CAGR) of -15.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it, which impacted industries negatively and resulted in low investments on technology. The market is then expected to recover and reach $4.36 billion in 2023 at a CAGR of 60.01%.
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The blockchain services market consists of sales of blockchain services and related products. For companies engaged in building blockchain applications blockchain-as-a-service acts as a third-party service that creates and manages cloud-based networks which is a growing field for blockchain technology. The revenue generated by the blockchain services market is through sales of blockchain services by platform vendors and service providers for the application of identity management, payments, smart contracts, supply chain management, and others.
The inefficiency of scalability in blockchain technology impedes the blockchain services market as it obstructs the processes involved. There is a partial dependence of the blockchain network`s health over the number of nodes in the network and the spread of those nodes across the world. The bigger the blocks, the increase in the size of the blockchain is even faster which removes out the solo miners, and that eventually results in more pile-up of transactions.
Blockchain Services Market Segmentation:
By Component
1. Tools
2. Services
By End-User
1. BFSI
2. IT & Telecom
3. Healthcare
4. Retail
5. Manufacturing
6. Logistics
7. Government
8. Media & Entertainment
9. Energy and Utilities
10. Others
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Few Points From Table Of Content
1. Executive Summary
2. Blockchain Services Market Characteristics
3. Blockchain Services Market Size And Growth
4. Blockchain Services Market Segmentation
5. Blockchain Services Market Regional And Country Analysis
……
25. Blockchain Services Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Blockchain Services Market
27. Blockchain Services Market Trends And Strategies
28. Blockchain Services Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the blockchain services market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the blockchain services market are Capgemini, Wipro, Mphasis, PwC, TCS, L&T Infotech, Alibaba, OpenXcell, lntinfotech, Ardor Nxt Group
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About US:
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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