19 February 2019:
Blockchain
Market was million US$ in 2018 and is expected to million US$ by
the end of 2024, growing at a CAGR of between 2019 and 2024.This report studies
the Blockchain market size (value and volume) by players, regions, product
types and end industries, history data 2014-2018 and forecast data 2019-2024;
This report also studies the global Blockchain market competition landscape,
market drivers and trends, opportunities and challenges, risks and entry
barriers, sales channels, distributors and Porter's Five Forces Analysis.
The Global Blockchain Market is subject to witness a
substantial growth due to increasing adoption of blockchain technology in
financial services, the exclusion of third parties for financial deals, and
limited occurrence of fraud & identity theft. However, lack of awareness
about the blockchain technology among general population is expected to
restrain market growth to large extent.
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Although, addition of block-chain technology that provides
more security and flexibility for financial services in cryptocurrency market,
thus offering numerous growth opportunities for business, in the recent years.
Globally, the blockchain market is predicted to grow at a significant CAGR in
forecast period, providing numerous opportunities for market players to invest
for research and development in the blockchain technology.
A block chain is a constantly growing list of records, which
are also termed as a block; these blocks are connected and managed with the
help of cryptography. Every block broadly consists of a hash pointer that is
linked with the previous block, along with a timestamp and transaction data.
Block chains does not allow any modification to the existing data, thereby
providing necessary security. The authenticity of every cryptocurrency coins is
provided with the help of a blockchain. These factors are expected to fuel the
growth of market during the forecast period.
Latest technological advancement in banking & financial
sector coupled with inclination towards innovation necessary for a communal
financial transaction database are anticipated to foster the demand for
blockchain technology in upcoming years. The blockchain technology involves
monitoring & formation of new units, enhanced security and minimizing risks
such as money fraud.
Countries such as Malaysia, China and Singapore are leading
the Asia-Pacific market with shifting trends towards adoption of digital
currency over traditional form of financial exchange and significant investment
by leading industry players considering potential growth opportunities in the
region. The key players in the blockchain market are Chain Inc., Circle
Internet Financial Ltd., Digital Asset Holdings Ltd., Eric Industries Co., IBM
Co., Linux Foundation, Post-Trade Distributed Ledger, Inc., R3CEV LLC, and
Safello AB
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Blockchain Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Market Leaders
•
IBM
•
Microsoft
•
Accenture
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