Blockchain Market
Added: (Tue Sep 17 2019)
Pressbox (Press Release) -
Blockchain market: The blockchain creates the transparency and immutability in the transactions which is the key driving factor of the global market
Market Overview:
The blockchain is a distributed database of a public ledger of transactions that maintains a continuously growing list of records named as blocks. The each block contains a timestamp that is linked to the previous block. The blockchain technology is based on the distributed computing system with high byzantine fault tolerance. The blockchain is a significant and innovative technology as it stands as the proof of all the transactions on the network. The blockchain creates the chain of the all blocks stored in the system. The blockchain market was valued at USD 1.2 billion in 2018 and is estimated to raise by USD 23.3 billion by 2023 with a CAGR of 80.25%.
Market drivers and restraints:
The blockchain creates the transparency and immutability in the transactions that is the major driving factor of the global blockchain market. The adoption of the technology based applications such as payments, exchanges, documentation and digital identities also fuel the demand and drives the global blockchain market.
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Report segmented as:
By application providers:
• Application providers
• Middleware providers
• Infrastructure providers
By application:
• Payments
• Exchanges
• Smart contracts
• Documentation
• Digital identity
• Supply chain management
• Governance
• Risk
• Compliance management
By end use:
• BSFI
• Government
• Healthcare
• Life sciences
• Media and entertainment
• Retail and e-commerce
• Travel and hospitality
• Transportation
• Real estate
• Utilities
Geographical analysis:
The global blockchain market is segregated into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The North America is leading the global blockchain and contributed the high shares in terms of revenue to the global blockchain technology as the high acceptance of blockchain owing to its transparency and immutability.
Important market players:
The key players operating in the blockchain market are IBM, AWS, Microsoft, SAP, Intel, Oracle, Bitfury, Cegeka, Earthpot, Guardtime, Digital Asset Holdings, Huawei, BlockCypher, Symbiont, BigchainDB, Applied Blockchain, RecordsKeeper, Blockpoint, Auxesis Group, BTL Group, Blockchain Foundry, AlphaPoint, and Factom.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
About Us:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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