Press release
Blockchain Technology Market is expected to grow by 82.2 Percent from 2023 to 2029 Growth, Trends, Size, Share, Industry Demand, Global Analysis
Blockchain Technology Market
In 2022, the Blockchain Technology Market was valued at USD 12.2 billion. Anticipated growth is on the horizon, with a projected 82.2% increase in total revenue from 2023 to 2029, reaching a substantial 814.29 billion USD.
Blockchain, initially known for facilitating cryptocurrency transactions sans traditional intermediaries, has evolved into a multifaceted solution. Beyond its role in the crypto realm, it's being touted as the remedy for various corporate challenges such as supply-chain monitoring, fraud prevention, and identity verification. While some early adopters in sectors like retail are exploring blockchain-based applications for tasks like supply-chain management, the broader business landscape remains cautious. Concerns over high implementation costs, uncertain returns, and technological hurdles are factors contributing to the hesitancy among the majority.
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What are Blockchain Technology Dynamics?
The increasing emphasis on usability and speed in second-generation applications opens up practical use cases, such as the creation of self-executing contracts and contingencies. Unlike their predecessors, these applications leverage new cryptographic methods for transaction verification, minimizing bottlenecks, consuming less energy than the proof-of-work method, and facilitating faster transactions at lower fees.
This emphasis on engagement, collaboration, sharing, and transactions across diverse platforms empowers businesses to establish essential infrastructures catering to a multitude of use cases. Furthermore, the seamless interaction with numerous entities across platforms, facilitated by innovative platforms, paves the way for the development of core infrastructures that can efficiently serve a variety of use cases.
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What is Blockchain Technology Regional Insight?
In 2022, North America took the lead in the market, securing the largest market share at 39.56%. The regional market's surge is attributed to the widespread adoption of blockchain technology by businesses in the area. Sectors such as government, retail, and BFSI are increasingly integrating blockchain due to the implementation of payment and wallet solutions, smart contracts, and digital identity detection solutions. Notably, the growing adoption of cryptocurrencies among North American consumers stands out as a key factor contributing to the expansion of the regional industry.
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What is Blockchain Technology Segmentation?
by Type
1. Public Cloud
2. Private Cloud
3. Hybrid Cloud
by Component
1. Application & Solution
2. Infrastructure & Protocols
3. Middleware
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Who are Blockchain Technology Key Players?
1. IBM (US)
2. AWS(US)
3. Microsoft(US)
4. Intel(US)
5. BlockCypher(US)
6. RecordsKeeper(US)
7. BlockPoint(US)
8. AlphaPoint(US)
9. Factom(US)
10. SpinSys(US)
11. BTL Group(US)
12. iXLedger(US)
13. ConsenSys(US)
14. Symbiont(US)
15. Digital Asset Holdings(US)
16. Oracle(US)
17. SAP (Germany)
18. Bitfury(Netherlands)
19. Cegeka(Belgium)
20. Earthport (UK)
Table of content for the Blockchain Technology includes:
1. Global Blockchain Technology: Research Methodology
2. Global Blockchain Technology: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Blockchain Technology: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Market Size, Share, Size & Forecast by different segment |
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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