BLOCKCHAIN TECHNOLOGY MARKET ANALYSIS (2019-2027)
A blockchain or previously referred to as block chain is an increasing list of records called blocks containing transaction data and timestamps of the previous block that are linked using cryptography. Blockchain is a faster, more secure, and more economical technology used to carry out online transactions across financial services and nonfinancial sectors. Since the blockchain technology is decentralized, it eliminates the necessity of third parties or intermediaries to verify online transactions. As a result of this, the global blockchain technology market is expected to witness a paradigm shift during the forecast period owing to its increased adoption in the financial services and nonfinancial sectors.
Market Dynamics
In blockchain technology, the data is decentralized, which thereby removes the need for intermediaries or third parties to verify transactions. Elimination of third party interference reduces the magnitude of the cost required for third-party verification and data authentication. This control is distributed between the parties involved transactions, which in turn, makes it faster. Furthermore, blockchain technology significantly minimizes the infrastructure cost incurred due to intermediaries thereby speeding up the transactions. As a result of this, blockchain technology has attracted various sectors including nonfinancial sectors. Thus, reduced time for transactions is expected to drive the market growth over the forecast period. The online payments through blockchain technology are secure since there are no intermediaries and the data is decentralized. The chain of transition is completely automated from beginning to end and requires no documentation, thereby reducing the errors caused by duplication. Moreover, the availability of real-time tracking of transactions averts the fraud caused by errors during online payment. This has enabled online transactions with large-scale payment. Hence, these factors are expected to propel the global blockchain technology market growth in the near future.
Market Taxonomy
This report segments the Global Blockchain Technology Market on the basis of Type is segmented into, Public blockchain, Private blockchain and Consortium blockchain. On the basis of Application, Global Blockchain Technology Market is segmented into Application, Financial Services and Non-Financial sector. On the basis of region, Global Blockchain Technology Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.
Key features of the study:
- This report provides an in-depth analysis of the Global Blockchain Technology Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
- It profiles leading players in the global Blockchain Technology Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered in the Global Blockchain Technology Market includes Digital Asset Holdings, LLC, Microsoft Corporation, Ripple, Deloitte Touche Tohmatsu Limited, R3, Consensys Systems (ConsenSys), IBM Corporation, and Chain Inc.
- These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
- The global Blockchain Technology market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Blockchain Technology Market
Detailed Segmentation:
- Global Blockchain Technology Market, By Product Type:
- Global Blockchain Technology Market, By Application:
- Global Blockchain Technology Market, By Region:
- Company Profiles
- Public blockchain,
- Private blockchain
- Consortium blockchain
- Application
- Financial Services
- Non-Financial sector
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Accenture
- Coinbase
- Chain Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Consensys Systems (ConsenSys)
- Deloitte Touche Tohmatsu Limited,
- Digital Asset Holdings, LLC
- IBM Corporation
- JP Morgan Chase & CO
- Microsoft Corporation
- Ripple
- R3
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