SAN FRANCISCO, November 28, 2018 / PRNewswire / –
Global Blockchain market It is expected to grow to a significant CAGR in the next period as the scope and its applications are increasing enormously worldwide. Blockchain is a distributed register technology that tracks all data exchanges and verifies every transaction. It is a mathematical structure for storing data, which is almost impossible to falsify and is used for storing precious data. The global market for blockchain a $ 708 million in 2017 it is expected to reach $ 60.7 billion in 2024. The factors that are playing an important role in the growth of the blockchain market are the high demand for ledger technology, the growth of initial offers of coins and cryptocurrency, reduction of total cost of ownership and increasing acceptance of Blockchain- as-a- Service.
The blockchain market is segmented according to the size of the organization, the application, the end user and the region. Depending on the size of the organization, the market could be explored in large companies and small and medium-sized enterprises (SMEs). It is estimated that the large business sector represents the significant market share in the years to come. The reason behind the overall growth of the market could be customer satisfaction and a huge investment in research and development. The market can be categorized based on applications such as governance, risk and compliance management, payments, supply chain management, exchanges, digital identity, smart contracts, documentation and others that could be explored during the forecast period. The payments sector can represent the significant market share of the blockchain and it is estimated that it will bring the general market in the coming years.
IT and telecommunications, banking, financial and insurance services (BFSI), real estate, government and public sector, transport and logistics, health and life sciences, travel and hospitality, media and entertainment, retail and e-commerce and other users could be explored in blockchain during the forecast period. It is estimated that the vertical real estate sector will grow at the highest CAGR in the years to come. The Blockchain market is geographically segmented in the Americas (North America, South America) Europe (Eastern Europe, Western Europe) Asia Pacific (India, China, Japan, New Zeland, is Australia) Middle East (United Arab Emirates, Saudi Arabia e Qatar) is Africa (South Africa).
Globally, North America it can represent the significant market share of Blockchain and it is estimated that it will bring the general market in the years to come. The reason behind the overall growth of the market could be the presence of key producers with a huge operational base in this region and the application of payments, smart contracts and documentation. Europe and the Asia Pacific it is also estimated that it has a positive influence on future growth. Europe it is the second region with a significant market share. However, Asia Pacific it is estimated to grow at the highest CAGR in the forecast period. Developing countries like India is China they are the main consumers of Blockchain in this region.
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The main players in the blockchain market are Ripple, Abra, Microsoft Corporation, AlphaPoint, International Business Machines Corporation, Bitfury Group Limited, Factom, Amazon Web Services, Inc., BTL Group Ltd., Digital Asset Holdings LLC, Earthport PLC and Coinbase. These players are focusing on inorganic growth to stay in the midst of strong competition.
- Market leader
- Market participants
- A bra
- Advanced Micro Devices & # 39;
- BTL Group
- BitFury Group
- Global Arena Holding
- TATA consulting services
- Main topics
- Distributed register
- Digital economy
- Bitcoin transactions
- Digital transactions
- Digital currency
- Plm software
- Data center infrastructure, business application industry trends
- Market of business applications
- Financial ledger
- Internet architecture
- Transactions in real time
- Greater security
- Collaborative business
- Through company boundaries
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