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Blockchain Technology Market Report


Company Analysis, History and Future Overview, Global Sales Trends by 2025


Published Date: 2019-09-23   |   Pages: Ongoing   |   Tables: Ongoing   |  Report ID: 8100 |  Industry: Miscellaneous  |   Format : pdf word ppt excel



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The global blockchain technology market is anticipated to bank on growing use of the technology to improve identity management, cross-border payment options, collateral management, KYC or documentation, and trade finance transactions in the financial sector. Adoption of blockchain technology is expected to significantly increase in future as enterprises continue to show interest in various benefits of the technology.

Blockchain technology can help with faster settlement of financial transactions, reduced number of errors in transaction processing, elimination of the requirement for reconciliation in accounting and validation of transactions, and reduced duplication in recordkeeping. In September 2019, Verizon, a US telecommunications company, was awarded a patent by the US Patent and Trademark Office for blockchain-based virtual SIM cards.

Important Points to Remember

  Increasing acceptance of cryptocurrency among merchants to augment demand for blockchain technology

 Vendors to introduce innovative and novel blockchain technologies to attract more consumers

 BFSI to continue to create healthy demand for blockchain technology in the coming years

 Blockchain technology to find increased application in the payments sector

End-use Industries other than Finance to Increase Investments in Blockchain Technology

Strong investments in blockchain technology not only from the financial sector but also the government and healthcare sectors are expected to create lucrative market growth opportunities for players during the forecast period. Rising adoption of blockchain technology in the IT sector could also help with rewarding business prospects for vendors in the coming years. Increasing expansion of the alternative cryptocurrencies market and growing acceptance of cryptocurrency among merchants are anticipated to further augment the demand for blockchain technology. High use of blockchain technology among SMEs mainly for the purpose of automating financial transactions and increasing data security is predicted to propel the global market growth in future.

Players to Launch More Advanced Products to Cement Competitive Market Position

Some of the leading vendors operating in the global blockchain technology market are Amazon, Digital Asset Holdings, IBM, BTL Group, Microsoft, Bitfury Group, Coinbase, Ripple, Earthport, and Chain, Inc. Vendors are expected to partner with other companies to strengthen their position in the global blockchain technology market. Introduction of new and more sophisticated blockchain technologies could be another strategy largely adopted by vendors. In September 2019, Modex, a UK technology company that builds blockchain solutions, launched the Modex Blockchain Database platform (Modex BCDB) to simplify the way enterprises can deploy blockchain technology.

By Industry

 BFSI

 Government

  Healthcare

  Retail and E-Commerce

  Transportation and Logistics

By Application

  Payments

 Exchanges

 Smart Contracts

 Documentation

  Digital Identity

Among industry segments, BFSI is projected to account for a remarkable share of the global blockchain technology market due to its heavy investment in the technology. Development of new blockchain technologies complying with transaction and regulatory standards followed in the BFSI sector could be a significant growth driver of the segment. Among applications, payments is forecast to secure a commanding share of the global blockchain technology market because of the need to enhance efficiency of payment systems. Growing focus on reducing operational costs of payment systems and increasing transparency in payments and other transactions could also help to push forward the demand for blockchain technology in the payments application.

By Region        

world_regions

Rise in the uptake of blockchain technology, especially in the retail, government, and BFSI sectors, is projected to increase the market growth of North America. The US and Canada showing increased adoption of new and advanced technologies could make substantial contributions to the growth of North America in the global blockchain technology market. Asia Pacific could be another high-growth region for the global blockchain technology market, taking into consideration the increasing growth of the financial sector in India and China. Advancement of blockchain technology on the back of strong initiatives taken by research and government organizations is anticipated to set the tone for impressive market growth of Asia Pacific.

Agriculture


Agriculture is expected to be an important sector of the global business in the coming years. At QYR Consulting we make sincere efforts to help you improve your performance and transform your business by seizing the opportunities. Our research reports include an assessment of the shifting agricultural trends, evolving energy needs, and introduction of disruptive technologies. We offer market outlooks after through research, which is conducted using primary and secondary research methodologies.

Our reports highlight the best investment opportunities by evaluating the risk factors. Over a period of time, we have built a valuable network of market experts, which makes its own, invaluable contribution in writing these business reports. With our understanding of the promising markets, we present to you a heuristic approach towards discovering the future of energy and agriculture sector.


Energy and Power


Energy and power systems across the globe have undergone massive changes in recent years. The surging demand for power consumption has drastically impacted generation and distribution of energy through the years. The changing landscape, with innovation in automotive, housing, and industrial sectors, has pushed energy and power companies to not just boost production but also look for alternatives for sustainability. The sector is challenged by issues of soaring demand and rising CO2 emissions.

The research reports shed light on the energy and power needs of the future. They predict the rise and fall from conventional energy consumption to renewable power production. Analysts have discussed the benefits and hurdles that energy mixes are expected to bring. Wind, solar, and other renewable and less harmful energy sources have been extensively researched and written about in these research reports.


Service and Software


The software industry has reinvented the future of business over the years. From providing top-notch solutions to customizing them for specific needs, the software industry offers myriad services. Shifting trends and needs of the global citizens has drastically helped the service and software industry as devised applications that were unheard of. We understand your changing needs that demand unique vision and strategy.


The software industry has reinvented the future of business over the years. From providing top-notch solutions to customizing them for specific needs, the software industry offers myriad services. Shifting trends and needs of the global citizens has drastically helped the service and software industry to devise applications that were unheard of. We understand your changing needs that demand unique vision and strategy.

The research reports have been collated by an expert team of analysts who aim to be your guiding hand through the coming years. The thoughtful evaluation of the service and software industry attempts to provide a detailed picture of the changing competitive landscape. Analysts have discussed products and evaluated the way they must progress to stay ahead of the game.

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Why QYR Consulting?


We are committed to delivering the best solutions and we offer a 24*7 helpline.


We promise superior quality of authenticated data.


We offer help and advice across varying time zones.


We boast a strong team of experienced analysts.


We have an exhaustive repository of published reports.


Read More

Contact us Directly

USA
 +1 626 428 8800

India
  +91 20 67104444

Beijing
  +86 108 294 5717

For Enquiry : sales@qyrconsulting.com

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  You must accept our privacy policies before submit your requirement




Why QYR Consulting?


We are committed to delivering the best solutions and we offer a 24*7 helpline.


We promise superior quality of authenticated data.


We offer help and advice across varying time zones.


We boast a strong team of experienced analysts.


We have an exhaustive repository of published reports.


Read More

Contact us Directly

USA
 +1 626 428 8800

India
  +91 20 67104444

Beijing
  +86 108 294 5717

For Enquiry : sales@qyrconsulting.com

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NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts.QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.



Blockchain Technology Market Report