Blockchain Market expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025, at an impressive Compound Annual Growth Rate (CAGR) of 67.3%
Northbrook, IL -- (SBWIRE) -- 08/24/2021 -- According to a new market research report "Blockchain Market by Component (Platform and Services), Provider (Application, Middleware, and Infrastructure), Type (Private, Public, and Hybrid), Organization Size, Application Area (BFSI, Government, IT & Telecom), and Region - Global Forecast to 2025" published by MarketsandMarkets™, the market size expected to grow from $3.0 billion in 2020 to $39.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 67.3% during 2020–2025.
Major forces driving the Blockchain Market include the increasing venture capital funding and investments in the blockchain technology, increasing popularity of the blockchain technology in retail and supply chain management, and growing focus on reducing operational cost.
Browse in-depth TOC on "Blockchain Market"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90100890
Based on type, the hybrid blockchain type segment to grow at the highest CAGR from 2020 to 2025
A permissioned blockchain is a type of hybrid blockchain that shares many features of both private and public blockchains. A permissioned blockchain provides a hybrid solution between the low trust offered by public blockchains and the single, highly trusted entity model of private blockchains. Popularly called a consortium blockchain, permissioned blockchain has predetermined standards that enable a few selected nodes to participate in the verification of the transaction process. A single person or company does not have full control over the information and access, thereby providing a secured network. The market size of the hybrid type in the Blockchain Market is expected to grow at the highest CAGR during the forecast period.
Increasing number of blockchain startups to drive the SMEs segment in the Blockchain Market during 2020-2025
Based on organization size, the Blockchain Market is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. The SMEs segment is expected to grow at a higher CAGR from 2020 to 2025, as there will be a sharp increase in the number of blockchain startups. The blockchain technology can prove to be an asset for SMEs, as it helps reduce operational cost by eliminating intermediaries required for trading across regions. Another area where SMEs can take advantage of the blockchain technology in their manual or semi-automatic processes, include invoicing, inventory, and payroll. For instance, smart contracts, a critical capability offered by the blockchain solution, can prove to be more economical, helping SMEs streamline their operations cost-effectively and at a faster rate.
Among regions, North America to dominate the Blockchain Market in 2020
The global Blockchain Market by region covers North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is home for most of the industries with a large operation base, and has witnessed a prominent implementation of smart contracts, documentation and payment applications in most of its industries, particularly in BFSI, retail and eCommerce, and healthcare and life sciences. The region is expected to be the early and largest adopter of blockchain solutions, due to increasing funding on the development of distributed ledger technologies to provide customers with transparency and faster transactions. An increasing adoption rate in various industries including transportation and logistics, retail and eCommerce, media and entertainment, real estate and IT and telecommunication is expected to drive the market. Moreover, financial institutions in APAC are heavily investing in designing a permissioned blockchain network to streamline their internal operations and minimize costs. The integration of the technology in these verticals is changing the way businesses are conducted across industry verticals.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=90100890
The report encompasses the different strategies, such as mergers and acquisitions, partnerships and collaborations, business expansions, and product developments, adopted by major players to increase their market share. Major technology vendors in the Blockchain Market include IBM (US), AWS (US), Microsoft (US), SAP (Germany), Intel (US), Oracle (US), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (UK), Guardtime (US), Digital Asset Holdings (US), Chain (US), Huawei (China), BlockCypher (US), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (Gibraltar), BlockPoint (US), Auxesis Group (India), BTL Group (Canada), Blockchain Foundry (UK), AlphaPoint (US), NTT Data (Japan), Factom (US), SpinSys (US), ConsenSys (US), Infosys (India), iXLedger (UK), and Stratis (UK).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/blockchain-technology-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/blockchain-technology.asp