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Blockchain Distributed Ledger Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

04-21-2023 08:10 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Blockchain Distributed Ledger Market is Anticipated

The global blockchain distributed ledger market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The BFSI companies operating in the global market are rapidly adopting digital ledger technology to secure end-users financial and monetary data & identity. Technology applications including cross-border transactions, clearing and settlements, trade finance platforms, and credit reporting are gaining traction across various end-user industries, this is expected to foster market growth. For instance, in June 2021, Indian banks such as SBI, HDFC Bank, ICICI Bank, and 12 others have come together to further widen the blockchain application for the processing of Letters of Credit (LCs/LoCs), GST invoices, and e-way bills. The project is expected to use Infosys' Finacle Connect, a blockchain-based platform that enables digitization and automation of trade-related finance processes. For this to be implemented, the 15 banks have formed a company called Indian Banks' Blockchain Infrastructure Co Pvt Ltd (IBBIC).

Moreover, the several key producers of blockchain distributed ledgers such as Blockstream, Coin Sciences Ltd., and Well Fargo are expected to increase their footprint through joint ventures and mergers. In December 2021, Wells Fargo partnered with HSBC to use its blockchain tools for the settlement of bilateral foreign exchange (FX) transactions. By using the HSBC-developed FX Everywhere platform settling three million transactions to date worth $2.5 trillion. Furthermore, in January 2022, Google Cloud announced a new digital assets team to support the customers' needs in building, transacting, storing value, and deploying new products on blockchain-based platforms. The Google Cloud team provides several short- and long-term initiatives to support companies in the digital assets/blockchain ecosystem, this includes node hosting, remote procedure call (RPC), hosting several public BigQuery databases, including bitcoin, Ethereum, bitcoin cash, Dash, Litecoin, Zcash, Theta, Hedera Hashgraph, Band Protocol, IoTeX, Polygon, XRP, and Dogecoin.

To Request a Sample of our Report on Blockchain Distributed Ledger Market: https://www.omrglobal.com/request-sample/blockchain-distributed-ledger-market

Market Coverage

The market number available for - 2021-2029
Base year- 2021
Forecast period- 2023-2029
Segment Covered-

By Enterprise Size
By Application
By End-User
Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape includes- Depository Trust & Clearing Corp., Digital Asset Holdings, LLC, Elrond Network, Enterprise Ethereum Alliance, and others.
Blockchain Distributed Ledger Market- Segmentation

By Enterprise Size

Large Enterprises
Small & Medium Enterprises
By Application

Payments
Smart Contracts
Supply Chain Management
Compliance Management
Trade Finance
Others
By End-User

BFSI
Government & Public
Manufacturing
Retail & E-Commerce
Media & Entertainment
Transportation & Logistics
Healthcare
Energy & Utilities
Others
A full Report of Blockchain Distributed Ledger Market is Available @ https://www.omrglobal.com/industry-reports/blockchain-distributed-ledger-market

Blockchain Distributed Ledger Market by Region

North America

United States
Canada
Europe

UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of APAC
Rest of the World

Latin America
Middle East and Africa
Company Profiles

Alchemy Insights, Inc
AlphaPoint Corp.
Amazon aws
Auxesis Services & Technologies Pvt Ltd.
Blockstream
Coin Sciences Ltd
ConsenSys Software Inc.
Dapper Labs Inc.
Depository Trust & Clearing Corp.
Digital Asset Holdings, LLC
Elrond Network
Enterprise Ethereum Alliance
Financial Services Blockchain Consortium (Shenzhen)
Huobi Global Platform
IBM
Linux Foundation
NTT Data
oracle
Polygon Technology
Sky Mavis
TomoChain Lab Pte. Ltd
Zhejang Huawei Scientific Instrument Co. Ltd.
Reasons to buy from us -

We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/blockchain-distributed-ledger-market

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Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +91 7803040404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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