The global blockchain market is projected to witness a significant CAGR of 71.46 % during the forecast period to reach a total market size of US$4.401 billion by 2022, increasing from US$0.297 billion in 2017.
The major factor that has been driving the use of blockchain is the transparency of a transaction along with the ability to be incorruptible which has resulted in increased acceptance among the wider audience.
The adoption of DLT among the various application such as payments, smart contracts, exchanges, digital identities, and documentation has also supplemented its growth. It is expected that the use of blockchain technology is going to increase owing to investments in blockchain technology start-ups, ties between financial organization and blockchain technology providers. The strengthening and development of the banking sector in the less developed and emerging markets is expected to support the growth of blockchain market.
North America is dominating the global blockchain market and contributed to the leading shares in terms of revenue on account of high acceptance of blockchain technology due to its transparency and immutability. Europe also has significant shares in the global blockchain market and is anticipated to register the healthy growth.
Asia Pacific is the most lucrative market due to the growing demand for the blockchain technology from the various industries such as banking, finance, insurance, media and entertainment and, retail and e-commerce sectors. South America and the Middle East and Africa are at a nascent stage in the global blockchain market due to low awareness and adaptability in the regions and are anticipated to register decent market growth.
Key Topics Covered:
2. Research Methodology
3. Key Findings Of The Study
4. Market Dynamics
5. Global Blockchain Market Forecast By Product (US$ billion)
6. Global Blockchain Market Forecast By Application (US$ billion)
7. Global Blockchain Market Forecast By End-User (US$ billion)
8. Global Blockchain Market Forecast By Geography (US$ billion)
9. Competitive intelligence
10. Company profiles
- Microsoft Corporation
- IBM Corporation
- Ripple Labs, Inc.
- Chain, Inc.
- Circle Internet Financial Limited
- BitFury Holding B.V.
- Yuan Technology
- AlphaPoint Corporation
For more information about this report visit https://www.researchandmarkets.com/research/wzsgzt/blockchain_market