Blockchain Market Research Report

 

Blockchain Market

The global Blockchain market is increasing at a significant rate over the forecast period starting from 2020 till 2027. According to the GMI Research forecast, the market is growing due to rapid innovation the bitcoin transaction and increasing awareness related to the numerous exceptional advantages offered by blockchain such as enables verification with no dependency on the third party, record the transactions in chronological order, and other benefits.

Blockchain is known as a system of recording information in such a way that makes it impossible or difficult to change, hack, or cheat the system. It is also considered a digital ledger of duplicated transactions and distributed across the entire network of computer systems on the blockchain.

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Some of the major factors contributing to the growth of the global blockchain market include the rapid innovation in the bitcoin transaction and the growing awareness associated with the several benefits provided by a blockchain, such as record the transactions in chronological order, allows verification with no dependency on the third party, and numerous other advantages. Blockchain technology is one of the most promising technology in the IT domain. This technology has hugely disrupted the way financial sector operators and has affected various other sectors such as media, consumer goods, and others. Furthermore, the growing adoption of distributed ledger technology (DLT) systems based on advanced data analytics is one of the major factors enhancing the growth of the blockchain market size.

The strong demand for cloud-based services, especially among the organizations, is expected to surge the demand of the market. The blockchain-as-a-Services (BaaS) allows the companies to opt for various applications such as enterprise resource management systems, security management systems, and various other systems. The outbreak of the COVID-19 pandemic has adversely influenced the rising demand of the market. The current coronavirus has created numerous challenges for the blockchain market, particularly in 2020. Blockchain technology has been used for crisis management, public health data surveillance, donation tracking, and other operations. The pandemic situation has temporarily closed different industries, which has affected the blockchain market. On the other hand, the high cost involved in the initial stage is hindering the market growth.

Key Players of the Global Blockchain Market:

·        IBM Corporation

·        Amazon Web Services, Inc.

·        Microsoft

·        SAP SE

·        Intel Corporation

·        Oracle

·        Bitfury Group Limited

·        Cegeka

·        Guardtime

·        Digital Asset Holdings, LLC

Market Segmentation:

Global Blockchain Market Report Segment by Component:

·        Platform

·        Services

Global Blockchain Market Report Segment by Provider:

·        Application Providers

·        Middleware Providers

·        Infrastructure Providers

Global Blockchain Market Report Segment by Type:

·        Private

·        Public

·        Hybrid

Global Blockchain Market Report Segment by Organization Size:

·        Large Enterprises

·        SMEs

Global Blockchain Market Report Segment by Application Area:

·        Transportation and Logistics

·        Agriculture and Food

·        Manufacturing

·        Energy and Utilities

·        Healthcare and Life Sciences

·        Banking and Financial Services

·        IT and Telecom

·        Retail and eCommerce

·        Others

Global Blockchain Market Report Segment by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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