Market Overview

Smart contract enables organizations, government bodies, and individuals to exchange monetary values, shares, and bonds for which specific value is associated. The smart contract is a clear and easy way to avoid a conflict between both the parties, without any intervention of a middle man. Moreover, smart contracts are being majorly adopted across various industries such as BFSI and construction among others for financial agreement, insurance breaches, property law and etc. Moreover, in smart contract, after fulfilment of contracts, the asset in the contract which is in the form of digital or crypto-currencies is transferred to the predefined party. In the smart contract, the risk of fraud is minimal and it eliminates the cumbersome paperwork and middle party services. Smart contracts can positively impact government as well as commercial industries by atomizing the contract enforcement which will decrease the cost of operations. All these factors are expected to drive growth of the global smart contract market positively.

Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/3398

Market Dynamics

On the basis of region, the global Smart Contract market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

In 2018, North America region dominated the global smart contract market and it is expected to retain its dominance throughout the forecast period owing to presence of large blockchain technology providers such as Google, Microsoft, and IBM and a large IT sector in The U.S. which help to develop smart contracts. These factors are expected to drive the market growth in this region. According to Coherent Market Insights' analysis, the global IT industry is expected to reach $5.18 trillion in 2020, and the U.S. holds around 31% share of the IT industry across the globe.

Global Smart Contract Market: Taxonomy

The global smart contract market is segmented on the basis of contract type, platform, end-use industry and region.

On the basis of contract type, the global smart contract market is segmented into:

Smart Legal Contracts

Decentralized Autonomous Organizations (DAO) Contracts

Application Logic Contacts (ALC)

Distributed Applications (DApps)

On the basis of platform, the global smart contract market is segmented into:

Ethereum

EOS

Hedera

Neo

Tron

Get Request Customization Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/3398

Major players operating in the global smart contract market are EOS, Tron, Ginete Technologies, Hedra Hashgraph, Hyperledger, IBM, Icertis, NEM, Neo, OpenXcell, Stellar, Waves, Thomson Reuters, Monax Industries, Blockstream, Coinbase, BlockCypher and Monetas.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Name: Mr. Raj Shah

Phone: US +12067016702 / UK +4402081334027

Email: [email protected]

Visit Our Blogs: https://blog.coherentmarketinsights.com