Press release
Smart Contracts Market Expected to Accelerate Growth by 2030 | CAGR 21.4%
Smart Contracts Market Overview:
Global Smart Contracts Market 2022-2030 report discovers comprehensive insights on key manufacturers with share information, market size and projection, key dynamics, growth factors, and new company profiles. The report provides detailed information about the market overview, prevalent trends, demand, and recent developments impacting the market growth in the coming years. Smart Contracts Market opportunities analysis, strategic growth analysis, product launches, marketplace expanding, and technological innovations are also highlighted. The report uncovers Smart Contracts market size, potential growth, trends and expansion strategies followed by top prominent players.
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The use of smart contracts and automation including automated computer programs, which make it possible to automate processes, payments to improve efficiency is driving the global smart contract market. Furthermore, the rise of government initiatives in blockchain technology is driving the growth of the global smart contract market. The use of smart contracts leads to the elimination of errors that occur due to the manual entry of many forms. The demand for smart contracts is growing rapidly due to the advantages mentioned above, ultimately supporting the growth of the global smart contracts market. The increasing application of smart contracts in various industries such as banking, government, healthcare, financial institutions, and supply chain is expected to boost the market. Also, due to confidentiality issues, only specified people will have access to documents. Similarly, smart contracts can be used to conduct research in a private and secure manner.
However, blockchain technology is involved in smart contracts but the lack of standardization and flexibility of blockchain technology creates challenges in developing smart contracts and is expected to hinder the growth of the global smart contract market. together. Also, Smart contracts are not able to handle complex processes and situations since contracts include terms that are not always understood.
Some of the key players profiled in the study are
Monax Industries Limited (U.K.), Monetas (Switzerland), Blockstream Corporation (U.S.), Coinbase, Inc (U.S.), Bitfinex (Hong Kong), BlockCypher, Inc (U.S.), Chain, Inc.(U.S.), Coinify ApS (Denmark), BitPay, Inc (U.S.), GoCoin Pte. Ltd (Singapore), and Others.
Smart Contracts Market Segmentation:
By Type:
Bitcoin
Sidechains
NXT
Ethereum
Other
By Technology:
Ethereum
Rootstock (RSK)
Namecoin
Ripple
Others
By Applications:
Automobile
Government
Supply Chain Management
Others
Latest Industry Developments:
• In 2017, Prophy became the first real estate transaction in the world to use smart contracts. Their first contract was for a $60,000 house in Ukraine.
• PrairieDog Venture and Data Gumbo have launched a partnership in June 2020 to use smart contracts to transform capital projects. The partnership will create smart contracts to address long-standing industry concerns related to business and information disputes and capital projects, conversions and maintenance for the industrial, commercial and infrastructure sectors.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecasts (2022-2030) of the following regions are covered:
• North America (U.S., Canada)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
• South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
• Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regionally, the global smart contract market can be segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa. North America is expected to dominate the smart contract market during the forecast period due to the adoption rate of new products or technologies within the region. Adoption in non-BFSI industries is also higher than the global average for North American smart contracts.
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Table of Content of Smart Contracts Market Report:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Covid-19 Impact On Smart Contracts Market
5. Smart Contracts Market Overview, By Segmentation, 2017 - 2030 (USD Million)
6. Smart Contracts Market Overview, By Geography, 2017 - 2030 (USD Million)
7. North America Smart Contracts Market Overview, By Countries, 2017 - 2030 (USD Million)
8. Europe Smart Contracts Market Overview, By Countries, 2017 - 2030 (USD Million)
9. Asia Pacific Smart Contracts Market Overview, By Countries, 2017 - 2030 (USD Million)
10. Middle East & Africa Smart Contracts Market Overview, By Countries, 2017 - 2030 (USD Million)
11. South America Smart Contracts Market Overview, By Countries, 2017 - 2030 (USD Million)
12. Competitive Landscape
13. Key Vendor Analysis
14. Smart Contracts Market Cost Analysis
15. Industrial Chain, Sourcing Strategy and Downstream Buyers
16. Marketing Strategy Analysis, Distributors/Traders
17. Market Effect Factors Analysis
18. Future Outlook of the Market
Read Detailed Index of full Research Study at@
https://www.contrivedatuminsights.com/product-report/smart-contracts-market-insights-2020-global-and-chinese-analysis-and-forecast-to-2027-7137
Why You Should Buy This Report:
1. The forecast for the established and growing markets for global Smart Contracts
2. Use Porter's Five Forces analysis to analyze various market perspectives.
3. The market segment that is anticipated to dominate the Smart Contracts industry worldwide.
4. Geographical areas that are anticipated to experience the quickest growth over the projection period.
5. Identify the most recent innovations, market shares for global Smart Contracts and marketing techniques used by the leading industry competitors.
Related Source: https://www.digitaljournal.com/pr/global-smart-contracts-market-is-expected-to-grow-at-a-cagr-of-21-4-during-forecast-period
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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