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Blockchain Market Size, Share, Growth Opportunities & Industry Report, 2020-2027 – X herald

Blockchain Market:

The GMI Research’s latest analysis reveals that the Blockchain Market is slated to register a significant CAGR over the forecast period. This is attributed to the high adoption of distributed ledger technology (DLT) systems on the basis of advanced data analytics and the rising demand for cloud-based services, especially among the companies.

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Blockchain Market’s leading Manufacturers:

  • IBM Corporation
  • Amazon Web Services, Inc.
  • Microsoft
  • SAP SE
  • Intel Corporation
  • Oracle
  • Bitfury Group Limited
  • Cegeka
  • Guardtime
  • Digital Asset Holdings, LLC

Blockchain Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The rapid innovation in the bitcoin transaction and the rising awareness associated with the several advantages provided by blockchain like enables verification with no dependency on the third party, record the transactions in chronological order, and numerous other benefits will further accelerate the growth of the blockchain market share in terms of revenue. One of the main technologies in the IT domain is blockchain technology. This technology has impacted financial sector operators as well as various other sectors, including media, consumer goods, and others. Moreover, the high adoption of distributed ledger technology (DLT) systems on the basis of advanced data analytics will fuel the demand of the blockchain market size. DLT is known as a decentralized system that is majorly utilized to record the transaction with safety mechanisms and advanced data analytics.

The rising demand for cloud-based services, especially among companies, is another factor that will have a positive influence on the market’s demand. The blockchain-as-a-Services (BaaS) allows the organizations to opt for various applications that include company resource management systems, security management systems, and several other systems. The emergence of the COVID-19 pandemic has negatively influenced the demand of the market, particularly in 2020. Blockchain technology has been utilized for donation tracking, crisis management, public health data surveillance, and other operations. The pandemic situation has temporarily closed numerous sectors, which has affected the blockchain market. On the other hand, the factor hindering the growth of the market include the high cost involved in the starting stage. High venture capital funds and large investments are required to set up the specialized infrastructure and architecture.

Organization Size Segment Drivers

Based on organization size, the SME is predicted to rise at a faster CAGR over the coming years due to the increasing need for streamlining the business processes cost-effectively across the SMEs, which is further promoting them to opt for blockchain technology to save their money and time. The high adoption of blockchain is on the experimentation stage in leading SMEs; however, the increasing rate of adoption owing to its transparency and low infrastructure cost.

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Blockchain Market Segmentation:

Segmentation by Component:

Segmentation by Provider:

  • Application Providers
  • Middleware Providers
  • Infrastructure Providers

Segmentation by Type:

Segmentation by Organization Size:

Segmentation 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

Segmentation by Region:

  • North America
    • United States of America
    • Canada

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. 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 help our clients to stay ahead of the curve.

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