The Global Blockchain market is estimated to grow at a significant rate owing to the launch of various blockchain associations in partnership with market players in developed and emerging countries along with galvanizing venture capital funding in blockchain technology. Moreover, boost in the demand for the technology across various verticals such as retail, real estate, IT & telecommunication, coupled with increasing requirement for faster transactions and escalation in the demand for simplified business procedures are some of the driving factors anticipated to catalyze the market growth of the blockchain in the forecast period.
According to MarkNtel Advisors’ research report titled “Global Blockchain Market Analysis, 2020”, the Global Blockchain market is anticipated to grow at a CAGR of around 73.1% during 2020-25. Based on Organization, small and medium (SMEs) organization is projected to grow at a significant pace in the forthcoming years due to an increasing necessity to simplify cost of operations at a faster rate across SMEs. Moreover, the adoption rate of the blockchain technology in the SMEs is surging exponentially owing to the factors such as cost reduction, improved data security, and financial transaction. Thus, this is expected to propel the market of blockchain in the forthcoming years.
“Global Blockchain Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Blockchain providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Acquired Significant Market Share
Asia-Pacific acquired the significant market share in the Global Blockchain market in 2019 on account of rising predominance of blockchain companies in the countries such as Singapore, increase in the government spending on blockchain technology, and rising integration of blockchain service the public sector such as banks and financial institutes, healthcare etc., to minimize the operating cost, to execute quicker transaction, and to simplify the business operations.
Moreover, developments in the financial sector in the economies such as India and China, influx of SMEs coupled with wide ranging applications of blockchain solutions for payments & smart contracts and increasing demand for online security is predicted to promulgate the growth of Asia-Pacific Blockchain market in the forthcoming period as stated in the MarkNtel Advisors’ research report “Global Blockchain Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Blockchain market are IBM, AWS, Microsoft, SAP, Intel, Oracle, NTT Data, Earthport, Amazon Web Services, Consensus Systems, Huawei, Monax, Ripple, BTL Group, R3 etc.
1. By Component (Services (Consultation, Development & Integration, Support & Maintenance), Platform)
2. By Provider (Application Provider, Infrastructure Provider, Middleware Provider)
3. By Type (Private, Public, Hybrid)
4. By Organization (Small, Medium, Large)
5. By Application (Payment, Documentation, Exchanges, Supply Chain Management, Digital Identity, Others (Advertising insights, etc.))
6. By End-User (Manufacturing, Government & Transportation, Logistics, Healthcare & Life science, Energy & Utilities, Media & Entertainment, BFSI, IT & Telecom, Retail & Ecommerce, Others (Agriculture, etc.))
7. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
8. By Country (US, Canada, Mexico, Brazil, UK, Germany, France, Spain, Switzerland, China, Japan, South Korea, India, Singapore, Australia, UAE, Saudi Arabia, Israel, South Africa),
9. By Company (IBM, AWS, Microsoft, SAP, Intel, Oracle, NTT Data, Earthport, Amazon Web Services, Consensus Systems, Huawei, Monax, Ripple, BTL Group, R3 etc.)
Key questions answered in the study:
1. What are the current and future trends of the Blockchain industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Blockchain industry?
5. What is the customer orientation, purchase behavior, and expectations from the Blockchain firms across various regions?