Market Overview:
A blockchain is a distributed, decentralized and public digital ledger that is used to record communications across computers so that the record cannot be transformed retroactively without the modification of all subsequent blocks. This permits the contributors to audit and verify transactions inexpensively. A blockchain database is managed autonomously using distributed time-stamping server and peer-to-peer network. The use of a blockchain eliminates the characteristic of infinite generation of data from a digital asset. It approves that, each unit of value is transmitted only once, thus resolving the long-standing problem of double capital expenditure. Global blockchain market was valued, in 2017 USD XX million and in 2025 is expected to reach at USD XX million with growing CAGR of XX%.
Market Dynamics:
The driving factors for the growth of his market are reduced total cost of ownership and growing demand for distributed ledger technology. Growing demand for simplified business processes, increasing cryptocurrencies market cap and initial coin offerings, and creating transparency and immutability are also some of the factors also driving growth of this market.
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However, high adoption of blockchain for payments, smart contracts, the transformation of international trade and supply chain management, digital identities are anticipated to boost the growth of blockchain market in upcoming years. In addition, adoption of blockchain technology and increasing importance for communication service providers, and a new breed of programmable blockchain platforms would create beneficial market opportunities.
Market Players:
Some of the key players offering blockchain solutions include Amazon Web Services, Inc., BTL Group Ltd., Chain, Inc., Coinbase, Digital Asset Holdings LLC., Earthport PLC, Factom, International Business Machines Corporation, Microsoft Corporation, Ripple, Abra, AlphaPoint, and Bitfury Group Limited.
Market Segmentation:
The global block chain market is segmented into application, organization size, provider, industry vertical and geography. The application segment for the blockchain market is sub-segmented into payments, exchanges, smart contracts, documentation, digital identity, supply chain management, governance, risk and compliance management and others. Based on provider, the market is classified into application and solution provider, middleware provider and infrastructure and protocol provider. On the basis of organization size the market is bifurcated into small and medium-sized enterprises (SMEs) and large enterprises. Furthermore, based on industry vertical, the market is classified as banking, financial services, and insurance (BFSI), government and public sector, healthcare and life sciences, media and entertainment, retail and e-commerce, travel and hospitality, transportation and logistics, real estate, it and telecommunications and others.
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Market segmented based on application: Payments Exchanges Smart Contracts Documentation Digital Identity Supply Chain Management Governance Risk and Compliance Management Others
Market segmented based on provider:
application and solution provider, Middleware provider Infrastructure and protocol provider
Market segmented based on region:
North America US Canada Mexico Europe UK Germany France Rest of Europe Asia-Pacific China Japan India Australia Rest of Asia-Pacific Latin America Brazil Rest of Latin America Middle East and Africa (MEA) South Africa Saudi Arabia Rest of MEA
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Read more:
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- What Is Blockchain Technology? - cbinsights.com - February 6th, 2018 [February 6th, 2018]
- 7 Ways Blockchain Will Enable Entrepreneurs in 2018 | Inc.com - February 6th, 2018 [February 6th, 2018]
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- Verizon and Wells Fargo Are Getting on the Blockchain - Market Realist - September 25th, 2019 [September 25th, 2019]
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- Vodafone litters London with blockchain tokens in new augmented reality game - The Next Web - September 25th, 2019 [September 25th, 2019]
- 5 Enterprise Blockchain Stories of the Week - Forbes - September 25th, 2019 [September 25th, 2019]
- ternity Partners with Uruguay Can to Track Cannabis Production on the Blockchain - GlobeNewswire - September 25th, 2019 [September 25th, 2019]
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- Five things to know about blockchain and CRE - REjournals.com - September 25th, 2019 [September 25th, 2019]
- Blockchain Technology Is Already Improving Lives At 22 Hospitals - Forbes - September 25th, 2019 [September 25th, 2019]
- How Blockchain Is Changing The Game For Social Impact Initiatives - Forbes - September 25th, 2019 [September 25th, 2019]
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- Could Blockchain Revolutionize the Real Estate Industry? - RisMedia.com - October 1st, 2019 [October 1st, 2019]
- Cross Reality And Blockchain - A New Era Of The VR Industry - Forbes - October 1st, 2019 [October 1st, 2019]
- Vontobel to offer structured product using blockchain technology - Investment Europe - October 1st, 2019 [October 1st, 2019]
- MineRP to partner with Karuschain to adopt blockchain platform - Mining Technology - October 1st, 2019 [October 1st, 2019]
- Stellar Development Foundation proposes to disable inflation mechanism from its protocol - The Block Crypto - October 1st, 2019 [October 1st, 2019]
- BurstIQ raises $5.5M to bring blockchain to the healthcare space - VatorNews - October 1st, 2019 [October 1st, 2019]
- Blockchains Next Frontier: Saving the Planet (and Possibly Pandas, Too) - Observer - October 1st, 2019 [October 1st, 2019]
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- US Homeland Security grants blockchain credentialing contract to Danube Tech - Ledger Insights - October 1st, 2019 [October 1st, 2019]
- U Wyoming Spurs Blockchain Development with Hackathon 'Stampede' - Campus Technology - October 1st, 2019 [October 1st, 2019]
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- Will Facebook's Libra Overtake Bitcoin Cryptocurrency And The Ethereum Blockchain? How Will It Work? - Forbes - October 1st, 2019 [October 1st, 2019]
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- How Blockchain Is Affecting The Marketing And Advertising Industry - Forbes - October 1st, 2019 [October 1st, 2019]
- Japanese Messaging App LINE Positioning Itself As Leader In Blockchain and Crypto Space - Forbes - October 1st, 2019 [October 1st, 2019]
- Could Blockchain Help the Cannabis Industry? Were About to Find Out - Observer - October 1st, 2019 [October 1st, 2019]
- Energy Blockchain Applications Expected to Experience a 67% CAGR - Transmission & Distribution World - October 24th, 2019 [October 24th, 2019]
- Blockchain Technology is Disrupting the Startup Ecosystem - Times of India - October 24th, 2019 [October 24th, 2019]
- Is blockchain the answer for sustainability in the cocoa sector? - ConfectioneryNews.com - October 24th, 2019 [October 24th, 2019]
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