Global Blockchain Market is Set to Reach USD 42.0 billion by 2024, Observing a CAGR of 80.0% during 2020–2025

The global Blockchain market is expected to grow at a CAGR of 80.0% during the forecast period with its market size predicted to reach USD 42.0 billion by 2024. Globally, blockchain industry players are leveraging market growth through the formulation of several policies and reforms by a government organization in various developed as well as developing economies along with entering into several partnership agreements. The key players in the blockchain market are launching a new link for various supply chain experts.

On the basis of organization size, the global blockchain market is divided into large enterprises and small and medium enterprises. Among the two categories, the small and medium enterprises category is expected to witness faster growth during the forecast period. The growth of this segment is attributed towards increasing utilization of these techniques that helps in eliminating wastage of resources and cost, thereby enhancing efficiency and effectiveness in their business operations.

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On the basis of vertical, the global blockchain market is divided into government, retail and e-commerce, transportation and logistics, BFSI, media and entertainment, IT and telecommunication, healthcare & life sciences, real estate, travel & hospitality, and others. Of all, the BFSI sector is expected to witness the fastest growth during the forecast period owing to the increase in shifting the trend of business organizations from central infrastructure administration to distributed situation.

Geographically, North America has accounted for the largest share in the blockchain market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of organizations having a huge base of operation, adoption of payment and documentation uses in several industries along with widespread execution of smart contracts. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to huge investment undertaken towards the development of blockchain market that helps in reducing excessive labor cost.

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Some of the key players operating in the global blockchain market are IBM Corporation, Ripple, Amazon Web Services, Inc., Microsoft Corporation, Abra, Chain Inc., BigchainDB Gmbh, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.

Global Blockchain Market Coverage

Provider Insight and Forecast 2014-2024

  • Middleware Provider
  • Application & Solution Provider
  • Infrastructure & Protocols Provider

Application Insight and Forecast 2014-2024

  • Smart Contracts
  • Payments
  • Documentation
  • Supply Chain Management
  • Exchanges
  • Governance, Risk, and Compliance Management
  • Digital Identity
  • Others

Enterprise Size Insight and Forecast 2014-2024

  • Large Enterprises
  • Small & Medium Enterprises

Vertical Insight and Forecast 2014-2024

  • Government
  • Retail & E-Commerce
  • Transportation & Logistics
  • BFSI
  • Media & Entertainment
  • IT & Telecommunication
  • Healthcare & Life Sciences
  • Real Estate
  • Travel & Hospitality
  • Others

Geographical Segmentation

Blockchain Market by Region

North America

  • By Provider
  • By Application
  • By Enterprise Size
  • By Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Provider
  • By Application
  • By Enterprise Size
  • By Vertical
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Provider
  • By Application
  • By Enterprise Size
  • By Vertical
  • By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Provider
  • By Application
  • By Enterprise Size
  • By Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, and Other Countries
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