Global Blockchain Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights in its upcoming report titled “Global Blockchain Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global blockchain market is estimated to register a CAGR of X.X% in terms of value during the forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global blockchain market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global blockchain market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global blockchain market report has been segmented on the basis of application, end user, and region.
Blockchain is a decentralized technology which behaves like a database. Data on this is stored in block format which is cryptographically secured and cannot be altered by altering subsequent blocks. Basically, it is a public ledger anyone can verify the information on the block but no one can open or alter the data. It can be used to keep track of digital transactions carried out.
Blockchain technology is cryptographically secured which is a key factor driving the growth of the global blockchain market. In addition, increasing adoption of blockchain technology in various end-use sectors such as financial service, automotive sector, and law etc. is further fuelling growth to the global blockchain market. Moreover, rising demand for secure databases to maintain records and smart contracting from various end users is further expected to boost growth to the global blockchain market over the forecast period.
However, complexity in use of blockchain is a key factor restraining the growth of the global blockchain market. Additionally, lack of awareness among people, security flaw, human error, and cost of a block are some major factors hampering the growth of the global blockchain market.
With improved digital infrastructure and technological innovation new opportunities are emerging for major market players and overall development of global blockchain market is expected over the next few years.
North America dominated the global blockchain market in terms of revenue share, owing to presence of appropriate digital infrastructure and increased digital currency transaction ratio by general population in the region. The market in Europe accounted for the second-highest revenue share in the global blockchain market, owing to increasing acceptance of digital currency by general population followed by market in Asia Pacific. Emerging economies in the Asia Pacific such as Japan and China are expected to expand at the highest CAGR of X.X% over the forecast period.
Global Blockchain Market Segmentation:
Global blockchain market segmentation on the basis of application:
- Clearing and settlement
- Digital identity
Global blockchain market segmentation on the basis of end user:
- Banking sector
- Insurance sector
- Financial institutes
- Government and public sector
- Retail and ecommerce sector
- Automotive sector
Global blockchain market segmentation on the basis of region:
- North America
- Asia Pacific
- South America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- International Business Machines Corporation (IBM)
- Microsoft Corporation
- Deloitte LLP.
- BTL Group Ltd.
- Digital Asset Holdings, LLC
- Global Arena Holding, Inc.
- BitFury Group Limited.
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