Blockchain Market 2021 report provides a detailed and exclusive analysis of vital statistics, data, opportunities, demand factors, information, trends, geographical area and revenue forecast to 2028. Global Blockchain Market report discusses the market outlook, drivers and restraints, future analysis, key players, overview, and competitive landscape. The recent developments, major drivers, segmentation by types and applications, opportunities within the market are also identified in the Blockchain Market.
According to our latest market study on “Blockchain Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Type, and Application,” the market is expected to grow from US$ 1.57 Bn in 2018 to US$ 162.84 Bn by 2028; it is estimated to grow at a CAGR of 68.1% from 2021 to 2028.
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The global Blockchain market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. In 2020, North America led the market with a substantial revenue share, followed by Asia Pacific and Europe. North America is one of the fastest growing regions in terms of technological development. In the past few years, the region has witnessed significant adoption of blockchain solutions across all the industries. The North America region contributes to the largest market share in the global blockchain market. In terms of revenue, it is estimated that it would continue to dominate the global blockchain market throughout the forecast period from 2019 to 2027. The adoption of blockchain technology is very high in the US. The highly competitive environment in the US and strong presence of technology providers such as IBM and Microsoft is contributing to the high growth of blockchain market in North America.
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- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Blockchain market
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
The global Blockchain market is segmented on the basis of technology, type, application, and geography. The market, based on technology, In terms of technology adoption and use cases, the BFSI industry is leading the market across the world. Blockchain solutions are being implemented in payments, remittances, identity management, fund processing, dispute management, risk management, and many other applications. The market, based on application, is segmented into commercial, industrial, and residential. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).
Impact of COVID-19 Pandemic on Blockchain Market
The COVID-19 pandemic hit almost all industries across the world in FY 2020 due to lockdown measures imposed by various countries, which disrupted supply chain of different industries and generated a demand and supply gap in different industries. However, the market is expected to regain its growth by the second quarter of 2022, according to the research study.
On the basis of industry vertical, the global blockchain market is categorized into BFSI, Retail, Government, Transportation and Logistics, Healthcare, Automotive, Media & Entertainment, and Others. The others segment in the blockchain market include Real Estate, Energy, Telecom, and Sports among others.
The global blockchain market is bifurcated by application segment into payments, exchanges, smart contracts, documentation, digital identity, governance, risk & compliance, and others. With blockchain applications such as payments, smart contracts, and documentation among others, businesses have a huge opportunity to increase their revenue. Blockchain reduces cost, increase security, increase transparency, and decrease transaction time while reducing the need for a trusted third party. However, the outbreak has severely affected the production and revenue generation due to lowered production volumes across different industries. Thus, the COVID-19 pandemic continues to have a negative impact on the growth of the Blockchain market in North America.
IBM Corporation, Microsoft Corporation, Accenture, Amazon Web Services, SAP Se, Hewlett Packard Enterprise Development , LP (HPE), Oracle Corporation, Intel Corporation, Ripple, Bitfury Group
Table of Contents:
- Key Takeaways
- Research Methodology
- Blockchain Market Landscape
- Blockchain Market – Key Market Dynamics
- Blockchain Market – Global Market Analysis
- Blockchain Market – Revenue and Forecasts to 2028 – Segmentation
- Blockchain Market Revenue and Forecasts to 2028 – Geographical Analysis
- Industry Landscape
- Blockchain Market, Key Company Profiles
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