The report studies the historical data and offers crucial forecast estimations to assist the readers, investors, stakeholders, and businesses to formulate strategic investment plans
New York, NY -- (SBWIRE) -- 02/19/2021 -- The global Blockchain in Government Market is forecast to reach USD 22.03 Billion by 2026, according to a new report by Reports and Data. Blockchain brings digital technology into real-time computing systems management. The market has the ability to change aspects of digital technology, which includes the method of conducting business, enhancing education, delivering healthcare, shopping, learning, social media, and entertainment.
Blockchain technology in the government sector are using the services to build transparent, open, and collaborative networks. The technology is a potential vehicle to improve government services and stimulate more transparent government-citizen relations. The technology works dramatically to optimize the business process through secure and more efficient data sharing.
There are numerous possible application of blockchain in the government market. Through this technology, the government can eliminate bureaucracy, reduce waste, prevent tax fraud, and improve the way they deliver services. Digital cash transactions can help transform the financial transactions between the government and its citizens.
The rising concern of corruption and bureaucracy can be eliminated via the application of blockchain in government. Mistrust in government's services to effectively solve the problems and provide services to the citizens is a baseline for public perceptions. Blockchain in government creates a trustless environment for regulatory activities and efforts are put in to combat slow, expensive multi-step processes that require several intermediaries.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Blockchain in Government market and profiled in the report are:
IBM, SAP, Oracle, Microsoft, Accenture, Infosys, AWS, Deloitte, Intel, and Ripple, among others.
The research study further covers the expansion and scope of the market in the key geographies across the globe. It assesses the scope of the market on a global as well as country-wise level. The market is spread across the key regions that include: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides a comprehensive analysis of the production and consumption patterns, import and export ratio, supply and demand dynamics, key trends and demands, consumer behavior, and presence and operations of prominent players in each region of the market.
The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2026 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.
The report further segments the market on the basis of product types and application spectrum offered by the market.
Provider Outlook (Revenue, USD Billion; 2016-2026)
Application Outlook (Revenue, USD Billion; 2016-2026)
Type Outlook (Revenue, USD Billion; 2016-2026)
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Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Blockchain in Government Market Segmentation & Impact Analysis
4.1. Blockchain in Government Market Material Segmentation Analysis
4.2. Industrial Outlook
The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Blockchain in Government market and its competitive landscape.
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