Blockchain Distributed Ledger Market is Expected to Witness Higher Growth Rate by 2027 | Top 10 Companies and Their Growth Strategies- Chain Inc., IBM Corporation, Accenture PLC, Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsof

According to a new report published by Allied Market Research, titled,"Blockchain Distributed Ledger Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027," the global blockchain distributed ledger market is expected to reach $5,430 million by 2023, growing at a CAGR of 57.6%. North America dominated the global market in terms of revenue, accounting for more than 40% share of the global market, followed by Europe.

The major players such as Chain Inc., IBM Corporation, Accenture PLC, Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, and Earthport have adopted new technology launch as their key strategy to expand their market foothold.

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Key Benefits from Blockchain Distributed Ledger Market Report 2020-2027:

• The study provides an in-depth analysis of the global blockchain distributed ledger market to elucidate the prominent investment pockets.

• A comprehensive analysis of the factors that drive and restrict the blockchain distributed ledger market growth is provided.

• The report provides extensive and qualitative blockchain distributed ledger market analysis on the significant segments or regions.

• The report provides information about key drivers, restraints, and opportunities along with the blockchain distributed ledger market forecast.

• The market is analyzed based on various regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with the blockchain distributed ledger market size.

Negligible fees for transaction in blockchain distributed ledger applications, elimination of third parties in business deals, and less chances of fraud & identity theft are the key drivers of the global blockchain distributed ledger market. Also, better security measurements, improved capital optimization, and transparency and independence are expected to drive the blockchain distributed ledger market. Moreover, increase in awareness toward blockchain distributed ledger applications among people is expected to provide lucrative opportunities to market players.

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Top Impacting Factors:

1. Public blockchain segment maintain it's dominance

Public blockchain is the leading segment in the global market, and is expected to maintain this trend throughout the forecast period. However, lack of awareness about cryptocurrency among people and limited access are expected to hinder the growth in the blockchain distributed ledger industry. On the other hand, private blockchain segment is expected to witness significant growth in the future. Private blockchain has a different level of security than public blockchain known as Bitcoin. Banks and financial institutions are increasingly investing in private blockchain technology.

2. The BFSI sector is projected to maintain its lead in the end-user segment.

In the emerging economies, business and technology are connected to each other through digital economy, where blockchain creates a whole new paradigm. It provides tamper-evident recording of the linked transaction history in a distributed network, and has the potential to disrupt the financial business applications. Most of the blockchain distributed ledger technologies deployed in the financial industry are expected to be private. Recently governments, central banks, private banks, and online banks of all types have shown a great deal of interest in distributed ledgers and block chain technology.

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1. North America Hold Lions Share

North America is expected to maintain its dominance throughout the forecast period, owing to the presence of key companies in the region Moreover, advancements in internet payments are expected to boost the growth, especially in Asian countries such as China, Japan, South Korea, and India.

2. Asia-Pacific Growing at Impressive Growth Rate

Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to increase in internet transitions, upsurge in the use of internet, and rise in adoption of advanced technologies. Furthermore, increase in pay management devices across China, Japan, India, and South Korea to cater to the end user needs, such as banking, real estate, stock market, and virtual currency, has supplemented the market growth.

Blockchain Distributed Ledger Key Market Segments:

By Type

• Private Blockchain
• Public Blockchain

By End User

• Government
• BFSI
• Automotive
• Retail & e-Commerce
• Media & Entertainment
• Others

By Geography

• North America

o U.S.
o Mexico
o Canada

• Europe

o UK
o Germany
o France
o Rest of Europe

• Asia-Pacific

o China
o Japan
o India
o Rest of Asia-Pacific

• LAMEA

o Latin America
o Middle East
o Africa

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