Global Blockchain Technology Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

The global Blockchain technology market size was valued at USD 3.0 billion in 2020 and is anticipated to reach USD 506.15 billion by 2030 with the CAGR of 67% over the forecast period.Blockchain is a growing number of blocks that are interlinked using cryptography. Each block of blockchain contains cryptographic hash of the previous one, thereby resisting the data modifications. Blockchain is considered as the one of the most prominent technology in information technology domain. The technology enables the involved parties to access the ledger as well as act as irrefutable proof for all the transaction between the involved parties. Due to the digital signature and encryption technologies in block chain, it is considered as the most secure and tamper-proof system. As the block chain technology is decentralized, no intermediate fee is required during the transactions. In addition to bitcoin, blockchain also incorporated litecoin, ripple and mintchip. Blockchain technology incorporated with artificial intelligence is gaining traction around the globe. AI offers the management of decentralized monetary systems as it helps to predict bitcoin values, thereby helping the bitcoin traders to manage the bitcoin transactions.
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Market Dynamics and Factors:
Global blockchain technology market is estimated to grow with a CAGR of 69% during 2019-2025. Owing to the transparent and simplified nature of block chain coupled with the rising popularity of blockchain as a service are expected to increase the market growth during the forecast period. In blockchain technology is transparent, as it records every public transaction and also allows the verification of proper system functioning. Block chain allows business to business and peer to peer transactions to be completed without the involvement of third party services, such as banks, thereby reducing the transaction cost. Hence, the reduction in transaction cost positively influences the blockchain technology market growth. Escalating growth in the crypto currency based transactions as well as processes that require blockchain technique such as mining and hashing also boost the blockchain technology market growth. However, lack of awareness regarding the advantages of blockchain technology coupled with high setting cost required for the setting of blockchain technology hinders the market growth. Incorporation of AI in blockchain is estimated to foster the market growth in near future.
Market Segmentation:
Global Blockchain Technology Market – By Type
Public Blockchain
Private Blockchain
Consortium Blockchain
Global Blockchain Technology Market – By Application
Digital Identity
Exchanges
Payments
Smart Contracts
Supply Chain Management
Global Blockchain Technology Market – By Enterprise
Small & Medium Enterprises
Large Enterprises
Global Blockchain Technology Market – By End-User
Financial Services
Government
Retail
Healthcare
Media & Entertainment
Transportation & Logistics
Travel
Others
Global Blockchain Technology Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America dominated in the global blockchain technology market due to the faster adoption of new technologies coupled with the increasing technical awareness in this region. Increased awareness in North American region among the customers regarding the benefits provided by blockchain also helped North America to grab the top position.
Competitive Scenario:
Some of the major players of the global blockchain technology industry are IBM Corporation, Microsoft Corporation, Linux Foundation, Interbit, Circle Internet Financial Limited, Global Arena Holding, Amazon Web Services, Inc., AlphaPoint, Earthport, Factom, Ripple Labs, Inc., Digital Asset Holdings, Abra, and Deloitte.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Blockchain Technology industry, although key threats, opportunities and disruptive technologies that could shape the Global Blockchain Technology Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Blockchain Technology Market most.
The data analysis present in the Global Blockchain Technology Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Blockchain Technology Market business.
The 2021 Annual Global Blockchain Technology Market offers:
100+ charts exploring and analysing the Global Blockchain Technology Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Telemedicine Market type
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