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Blockchain is a distributed ledger that consists of a continuous list of records of transactions made in cryptocurrency. Increasing traction and acceptance of blockchain technology in industries from fintech to IT & communication, healthcare, media, and life science is projected to accentuate the growth of blockchain technology in the forthcoming period.
The Global Blockchain Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Blockchain market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
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 2020-25F. Based on end user, BFSI acquired the significant market share in the Global Blockchain Market owing to the emanating rate of adoption and rising investment in this technology by various financial institutions to enhance the proficiency of financial processes, to improve audit transparency, and to reduce the security-related risks.
Moreover, the deployment of blockchain technology in the healthcare sector is also growing at a robust rate due to the increasing usage of the technology to continuously track on the supply chain of healthcare products from production unit as it allows the pharmaceutical firms to have an eye on various illegitimate activities, such as counterfeiting and illicit manufacturing of harmful medicines and illegal stock hoarding. Thus, this is estimated to strongly attribute toward the growth of Global Blockchain market in the forthcoming years.
Hybrid Solution Acquired Considerable Market Share
Based on type, hybrid segment accounted for the considerable market share in the Global Blockchain market as it fulfills the requirement of the industries by offering features of both private and public blockchain solutions. The rising customer inclination toward the transparency, better security, and growing demand for fast processing applications for payments and transactions is anticipated to strongly contribute towards the growth of the Blockchain market globally in the near future 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 include IBM, AWS, Microsoft, SAP, Intel, Oracle, NTT Data, Earthport, Amazon Web Services, Consensus Systems, Huawei, Monax, Ripple, BTL Group, R3 etc. In order to expand their footing in the market, these companies are proliferating their product portfolio by launching new forms of technology in blockchain.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Blockchains Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Blockchains Market during 2020-25?
A. The growth rate of Global Blockchains Market during 2020-25 is forecast to be grow at a CAGR of 73.1%.
Q. Who are the key competitors or players operating in Global Blockchains Market?
A. IBM, AWS, Microsoft, SAP, Intel, Oracle, NTT Data, Earthport, Amazon Web Services, Consensus Systems, Huawei, Monax, Ripple, BTL Group, R3 etc., are few of the leading players in the Global Blockchains Market.
Q. Which type segment would emerge as an opportunity area for players in Global Blockchains Market?
A. Private solution is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Blockchains Market?
A. Asia-Pacific grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Blockchains Market.
