Global Block Chain Market, Impressive CAGR of around 70% over the forecast period-: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
The global block chain market is segmented into type such as public block chain, private block chain and consortium or federated block chain. Among these segments, public block chain is expected to emerge as fastest growing segment in block chain market. The growth of public block chain is attributed to the potential which enables to replace most functions of traditional financial institutions with software, fundamentally reshaping the way the financial system works. Apart from this, the benefits of public block chain are easy global transactions which is anticipated to positively impact the growth of global chain market over the forecast period.
Global block chain market is expected to register a notable CAGR of around 70% over the forecast period. Moreover, the global block chain market is expected to expand on the back of growing real estate vertical across the globe. In addition block chain based transactions of value can be completed in faster way, more safely, and economically than conventional transaction systems. This is because conventional transaction systems refer to central administrator or centralized data storage system.
North America is anticipated to dominate the overall market of block chain market during the forecast period on account of high acceptance of block chain technology due to its transparency and immutability. The banking, financial, services and insurance (BFSI) by end type is expected to emerge as fastest growing market among other segments of global block chain market.
Security Enhanced Features to Boom the Market
The global market of block chain permits applicants to authenticate and review transactions. Factors such as crypto volatility with cryptocurrencies are emerging which may significantly increase the growth of blockchain market over the forecast period. Further, blockchain based transactions can be completed in faster way, more safely, and economically as compared to conventional transaction systems. Factors such as these are expected to benefit the expansion of the market globally.
Rise in Transaction Technology
The increasing level of transaction technology has led to the increase in the block chains. Further, factors such as easy transactions and growing popularity are increasing the use of block chain. Apart from this, benefits of block chain are protection from malicious attacks and creation of transparency.
The report titled “BlockChain Market: Global Market & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the blockchain market in terms of market segmentation by type, by end user, by applications and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global block chain market which includes company profiling of IBM Corporation, Microsoft Corporation, Amazon.com, Inc., SAP SE, Intel Corporation, Samsung Group, NVIDIA Corporation, Xilinx, Inc., AMD, Inc., Siemens AG and Accenture Plc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global block chain market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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