According to 360iResearch, the global blockchain market to grow from USD 212.09 million in 2016 to USD 4847.7 million by 2023, at a CAGR of 56.37%. The year 2016 has been considered as the base year, while the forecast period is up-to 2023.
A blockchain is a digitized ledger that keeps secure track of digital currency transactions without any centralized record. Blockchain technology refers to distributed ledger technology (DLT) that stores the data across the network ensuring secured business transaction with less friction and more transparency. The blockchain technology is expected to make more scalable and safer business in a cost-effective way due to its ability to make efficient digital agreements, a better mean of establishing identity.
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The major forces driving the growth of the blockchain market include the need of transparency and immutability in transaction and consumer protection and money laundering regulations. Moreover, secure transaction and improved auditability reduced transaction and transaction settlement time more use cases and removal of middlemen and distributed database. However issue of low scalability, lack of understanding and knowledge, uncertain industry regulation and governance, and user privacy and security concern may hinder the market growth. In the middle of difficulty lies opportunity such as the fintech and insurtech, and industry apps and cloud. The possible challenges for the market growth are iot with complete transparency of the decentralized ledger, complex technical, and integration concerns. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global blockchain market is studied across aerospace & defense, banking, financial services & insurance, consumer goods & retail, education, energy & utilities, government, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, transportation & logistics, and travel & hospitality. Based on geography, the global blockchain market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of blockchain market. Moreover, the study highlights current market trends and provides forecast. We also have highlighted future trends in the blockchain market that will impact the demand during the forecast period. Moreover, the competitive analysis of blockchain market brings an insight on the product usability profiles of the leading players. Additionally, the analysis highlights features & pricing, informant reviews of the key products in the market.
Reasons to Buy:
The blockchain market research study reveals hidden insights and dynamic, which in turn helps the players in the ecosystem take better strategic decisions. The firms looking for purchasing the global blockchain market research report could look for following prospects on their way to better understand the market that can aid further decision making and possibly identify the best opportunities to exploit.
– Evaluate the qualitative and quantitative aspects of the report and analyze the blockchain market penetration with respect to industries and geographies.
– Evaluate the key vendors in the blockchain market in terms of products satisfaction and business strategy. This helps identify consumer preferences and understand its current position in 360iResearch FPNV Positioning Matrix.
– Evaluates the key vendors and deeply analyze competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the blockchain market.
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Table of Contents
- Preface
- Executive Summary
- Market Overview
- Global Blockchain Market: Industry Trends Analysis
- Global Blockchain Market: Geographic Trends Analysis
- Competitive Landscape
- Product Usability Profiles
- Appendix
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