DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Blockchain Technology Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific Blockchain Technology market is expected to grow at the highest CAGR (54%) during the forecasted years of 2018-2023 and is expected to earn a revenue of USD 4.59 Bn by 2023.
APAC has been witnessing the fastest adoption of Blockchain technology in the last couple of years. It is expected that Asia pacific will attract significant volumes of venture capital investments for innovations in Blockchain.
Based on industries, supply chain management led the Asia-Pacific Blockchain technology market in 2017. Supply chain management made a huge breakthrough in China. IBM is one of the leading Blockchain consulting firms to have initiated the application of Blockchain technology in China with supply chain trials. Blockchain technology in Supply Chain management maintains records of asset transactions, verifies certificates, and links bar codes with digital codes.
The Banking and Financial services sector is growing at the second highest CAGR. There is an increasing demand for a more efficient and affordable system of sending money across the region and even outside Asia. Blockchain Technology has the potential to cut down the cross border payment cost, hence expected to drive the Banking and Financial Service sector.
Key growth factors:
- Asia-Pacific is becoming the dynamic ground to implement new business models using Blockchain technology
- Further, the region is showing the largest adoption of Blockchain technology because of the increased use of e-wallets in China
Threats and key players:
- In China, though government bodies in key countries are accelerating Blockchain adoptions, recent regulations on Blockchain technology may pose challenges.
- In September 2017, the Central bank of China declared ICO as an illegal method of raising funds, causing the Blockchain project and start-ups to refund all the bitcoin and ethereum they had raised during ICO campaign to protect investors
The key players of this regions are Microsoft Corporation, IBM,
Accenture, Deloitte, and Capgemini
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Introduction
Chapter 3: Asia-Pacific Blockchain Technology Market overview
Chapter 4: Asia-Pacific Blockchain Technology Market by country
Chapter 5: Asia-Pacific Blockchain Technology Market by industries
Chapter 6: Company profiles
- Microsoft Corporation
- Tata Communication Services
- The Wanxiang Blockchain Labs (China)
- The Wanda Group (China)
For more information about this report visit https://www.researchandmarkets.com/research/pf3fkw/asiapacific?w=4
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