Blockchain Government Market Analysis & Technological Innovation by Leading Key Players

The Global Blockchain Government Market is projected to reach a value of over USD 8.9 billion by 2027 at a CAGR of around 81.2%.

Blockchain is a technology that holds the transactional records of data and meanwhile ensuring security, transparency, and services. These technologies used to improve government services and transparent citizen rights. Moreover, it is defined as a chain or record that stored the data in the forms of blocks which can be controlled by authorized persons only. The countries such as the UK, the US, Estonia, Switzerland, Georgie, and others are using Blockchain technology to enhance the public services as well as for new business growth.

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BLOCKCHAIN GOVERNMENT MARKET: Drivers & Restraint

Market Driver:

Blockchain Technology for Smart Cities Initiative

The growing adoption of Blockchain technology for smart cities helps to enhance the growth in identification management and improve business infrastructures. Also, these technologies use to deliver innovative services and solutions for the citizens and local corporations. Moreover, Blockchain provides features to create a secure infrastructure for management purposes. Furthermore, the smart city uses information technology to integrate and manage and business infrastructure.

Hence, by 2021 the city of Dubai has planned to become the first Blockchain-powered smart city. Moreover, since 2012 Estonia is using many Blockchain and distributed ledger technology for tracking the citizens. These, the adoption of Blockchain technology for smart cities is expected to surge the Blockchain government market during the forecast period.

Highly Adoption in the Public Sector

The high adoption in the public sector which helps in the healthcare, digital currency, voting and taxation results to rise the market growth. Also, it provides security, efficiency, and speed for many public sector organizations. The Blockchain technology experiments in many public sectors which is enhancing its growth worldwide and improve its work efficiency. Moreover, it is also being used for the reduction of labour-intensive processes and to secure the storage of government, citizens, and business data.

Therefore, the high adoption in the public sector leads to rising the demand of the Blockchain government market during the forecast period.

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Market Restraint:

Data Modification and Storage Issues

Data modification and data storage are some of the major issues of blockchain technology which can restrain the growth of the market. Once the data is stored or added in the Blockchain it is very difficult to modify or to changes. Moreover, the bitcoin blockchain requires near about 200 GB of storage which is one of the key concerns for the storage of data in the system.

Hence, these restraining factors and issues may hamper the growth of the blockchain government market.

Blockchain Government Market: Key Segments

Based on Platform: Application Platform, Infrastructure Platform, and Middleware Platform.
Based on Type: Public Blockchain, Private Blockchain, and Hybrid Blockchain.
Based on Application: Payment, Identify Management, Voting, Digital Certificates, Supply Chain Traceability, Taxation, and Others.
Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis

Blockchain Government Market: Report Scope

The report on the blockchain government market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Blockchain Government Market include:

IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
SAP SE
Oracle
Microsoft
com, Inc. (Amazon Web Services, Inc.)
Infosys Limited
Accenture Plc
Intel Corporation
Auxesis Services & Technologies (P) Ltd.
Factom
Other Key Companies

Blockchain Government Market: report segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Blockchain Government Market, by Type

Public Blockchain
Private Blockchain
Hybrid Blockchain

Blockchain Government Market, by Platform

Application Platform
Infrastructure Platform
Middleware Platform

Blockchain Government Market, by Application

Payment
Identify Management
Voting
Digital Certificates
Supply Chain Traceability
Taxation
Others

Blockchain Government Market by Region

Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
North America (US, Canada, Mexico)
Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

What are the important developments affecting the market globally and its growth?
What will be the impact of the developments in the market on the industry and on the market competitor in the future?
What are the evolving variations of the market worldwide?
What are the evolving functions of the market worldwide?
What is the important condition that will affect market growth worldwide during the study period?
Who are the major players operating in the market across the globe?
How are the major players leveraging in the present market scenario worldwide?

Table of Content

INTRODUCTION
RESEARCH DESIGN & SCOPE
EXECUTIVE SUMMARY
MARKET DYNAMICS
INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
GLOBAL BLOCKCHAIN GOVERNMENT MARKET BY PLATFORM, Market Size in USD Million (2019-2027)
GLOBAL BLOCKCHAIN GOVERNMENT MARKET BY TYPE, Market Size in USD Million (2019-2027)
GLOBAL BLOCKCHAIN GOVERNMENT MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
GLOBAL BLOCKCHAIN GOVERNMENT MARKET BY REGION, Market Size in USD Million (2019-2027)
COMPETITIVE LANDSCAPE
COMPANY PROFILES
APPENDIX

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