The Blockchain market is expected to grow at a CAGR of 79.6% during the forecast period i.e. 2018-2023. All the industries including large or SMEs started adopting blockchain as its primary need. The worldwide Blockchain Technologies market is going to penetrate deeply into all the industry verticals. The interest for distributed ledger technology, rising cryptocurrencies market capitalization and initial coin offerings, decreased total cost of ownership, expanding demand for streamlined business processes and creating transparency and immutability, faster transactions and increasing adoption of Blockchain-as-a-Service are the real development drivers of the market are driving the market exponentially. The market has been segmented on the basis of provider, types of blockchain, the size of organization and the industry verticals.
What is Blockchain Market?
Blockchain is a distributed ledger innovation that empowers the creations of an immutable record of transactions to impart with multiple participants in a business network. Blockchain is not controlled by any third party. Rather anyone can read, write, and can hold a copy of it. This technology provides protect from the untrusted agreement in a common virtual records. Blockchain technology allows peer to peer transaction and solves this problem without using a trusted intermediary. Its data is completely consistent, timely, accurate, and widely available.
What are the applications of Blockchain Market?
Blockchain itself is a shared database which includes digital information on the product, people, or events that can accessed by many users. As of today, numerous of project have improved their management by the application of blockchain technology. Industries like BFSI, agriculture, automotive, healthcare, retail & E-commerce, energy, media & entertainment and others are the industry verticals where blockchain will be the mainstream.
Market Research and Market Trends of Blockchain Market:
- Microsoft: 2018 may be the year of Blockchain goes main stream
- Mark Russinvoch, who is the chief technology engineer and officer of Software Company Azure platform, said an entire scope of businesses are on the cusp of presenting the electronic ledger technology behind digital forms of money like Bitcoin. It’s the beginning of these technologies are becoming mainstream enough, people around are understanding it as much as it required. In blockchain the key benefits are being reduction in the chance of fraud, the reduction of waste and need of middleman will drive the market easily and exponentially.
- Gibraltar launches financial services license for blockchain
- Gibraltar’s financial service watchdog will present the world’s first bespoke permit for “fintech” firms utilizing blockchain distributed ledger technology.
- Approximately twenty two of world’s biggest banks and fintech firm R3 have developed a payment mode using blockchain technology.
- Google Is working on blockchain technology for cloud
- Google is getting in to the blockchain technology by creating its own blockchain-related technologies to work with its different online services. They are planning for creating a white label version that other company can also use it on their own server.
- Microsoft Unveils New Blockchain Tools for Azure
- Microsoft announced the Azure blockchain workbench, releasing it for the developers that work with distributed ledger tech. this workbench will providing the scaffolding for an end to end blockchain application.
Who are the Major Players of Blockchain Market in Supply Chain market?
The major players in this market are Microsoft Corporation, Deloitte Touche Tohmatsu Limited, IBM Corporation, R3 and 12 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2017-2025.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.