The Worldwide Blockchain Industry is Expected to Reach $34 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Blockchain Market (2021-2026) by Component, Provider, Type, Organization Size, Deployment, Application, Industry, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Blockchain Market is estimated to be USD 5.3 Bn in 2021 and is expected to reach USD 34 Bn by 2026, growing at a CAGR of 45%.

Key factors such as the rise of Blockchain as a Service (BaaS) that allows the customer to utilize cloud-based solutions for building and hosting their blockchain apps is a prominent driver for blockchain technology. Also, there has been a rising acceptance of cryptocurrencies, which has further fuelled the growth of the market. The adoption of blockchain technology, especially in the financial services sector, is broad because it can reduce the transaction processing time, thus reducing the complexities involved in a transaction, accelerating the growth of the market.

The high initial costs involved in setting up the process and operations, the stringent regulatory requirements in different countries, limited availability of technical skillsets for implementing the blockchain technology can be restraining factors for the growth of the market.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Blockchain Market.
• The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence's Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

Market Dynamics

Drivers

• Increasing Adoption of Blockchain as a Service(BaaS)
• Increasing Merchants Accepting Cryptocurrencies
• Growing Need for Simplifying Business Processes
• Need for Increased Transparency and Faster Financial Transactions

Restraints

• Blockchain Laws & Regulations
• High Initial Costs

Opportunities

• Increasing Adoption of Blockchain Technology in IoT & Cyber-Security
• Increasing Venture Capital Investment in Blockchain
• Rising Adoption of Blockchain for Payments
• Government Investments in Blockchain Technology Development Projects

Challenges

• Data Safety & Security
• Integration with the Existing Applications

Companies Mentioned

• Alphapoint
• Amazon Web Services, Inc.
• Asta Solutions Pty Ltd.
• Bacoor, Inc.
• Chain, Inc
• Coinbase, Inc.
• Digiledge
• Digital Asset Holdings, LLC
• Earthport
• Exioms Technology Pvt. Ltd.
• Hewlett Packard Enterprises (HPE)
• Huobi
• IBM Corporation
• Microsoft Corporation
• Paystand
• Peer Ledger
• R3 Technology Inc
• SAP SE
• SimplyFi SofTech India Pvt. Ltd
• SmartMesh Foundation Pte. Ltd
• BTL Group Ltd.
• Circle Internet Financial Limited
• Deloitte Touche Tohmatsu Limited
• Global Arena Holding, Inc. (GAHI)
• The Linux Foundation
• Monax
• Ripple
• Oracle Corp
• TCS
• Leeway Hertz
• Capgemini SE

For more information about this report visit https://www.researchandmarkets.com/r/3s9bah