Blockchain is a permanent database which keeps track record of each and every bitcoins transaction that has ever been executed.The blocks which keep records are added to the Blockchain in a linear and chronological order. The technology has an ability to perform financial operations instantaneously though permissioned ledgers which are distributed uniformly.
The major factor that drives the growth of Blockchain Technology Market is growing demand for faster and secure environment for payments & transaction by companies, high adoption of advanced programming platform by firms. The Blockchain technology provides secure and faster payment transaction services with the help of cryptography technology which keeps the data encoded until it will reach to receiver.
Globally the market for Blockchain technology market is expected to grow at the compound annual growth rate of about 51% from 2016 to 2022.
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Key Players for Blockchain Technology Market:
Some of the major players in Global Blockchain Technology Market include IBM Corporation (U.S.), Microsoft Corporation (U.S.), and Deloitte, Inc. (U.S.), Ripple (U.S.), Coinbase (U.S.), Chain, Inc.(U.S.), Abra, Inc. (U.S.), Bitfury Group (U.S.), BlockChain tech Ltd. (U.K.), and Earthport PLC (U.K.) among others.
Segments for Blockchain Technology Market:
Global Blockchain Technology Market can be segmented as follows:
Segmentation by Services: Payments & transactions, contracts, digital identity, documentation, and exchanges among others.
Segmentation by Application: Banking & Finance, healthcare, government, media& entertainment, and retail among others.
Regional Analysis of Blockchain Technology Market:
North America is dominating the Global Blockchain Technology Market with the largest market share in the region due continuous initiatives taken for the development in ledger technology for blockchain market and thereforeis expected to grow with highest market sizeby 2022. Blockchain Technology Market in Asia-Pacific market is expected to grow at with a high CAGR due to investment by major players in this region.
Study Objective of Blockchain Technology Market:
To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global Blockchain Technology Market
To provide insights about factors affecting the market growth.
To analyze the Blockchain Technology Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment by services, by application and sub-segments.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Blockchain Technology Market.
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Banking & Financial institutes
Block Chain technology vendors
Internet service providers
Research and consulting firms
Resellers & Distributors
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