BlockChain Market:Future Scope,Revenue Growth To Attain A CAGR Of Around 5% By 2024
Recent report published by research nester 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.
The blockchain market has been segmented by type, end user and applications. Based on type, the block chain market is segmented into public blockchain, private blockchain, and consortium or federated blockchain. Among these segments, the public blockchain segment is expected to grow at highest CAGR during the forecast period.
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This can be attributed to trouble-free transactions globally. Moreover, block chain is the digital and decentralized ledger technology that records all transactions without the need for a financial intermediary like a bank. These factors are envisioned to strengthen the growth of blockchain market.
The global market for blockchain is expected to flourish at a CAGR of 70% during the period 2017–2024. High acceptance of block chain technology due to its transparency and immutability is anticipated to drive the growth of blockchain market. Further the global blockchain market is likely to grow on the basis of the real estate vertical, which is expected to grow at the highest rate and is anticipated to boom the growth of the market with noteworthy revenue by the end of 2024.
In the regional segment, North America represented the largest market in previous years and is anticipated to dominate the overall market of blockchain during the forecast period. This can be attributed to its ineradicable hostility honing to leading shares in terms of revenue in the market. Europe market is expected to expand owing to the representative shares in the global blockchain market over the forecast period.
Factors, such as increasing investments and great involvement of industries are likely to be the major drivers for Asia Pacific blockchain market over the forecast period. Moreover, China is predicted to contribute significantly towards the growth of Asia Pacific blockchain market during the forecast period.
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.
However, factors such as scalability and privacy issues regarding the storage of transactions on a public ledger are likely to inhibit the growth of the blockchain market in the near future.
This report also provides the existing competitive scenario of some of the key players of the blockchain 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 blockchain 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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Originally published at https://www.marketwatch.com on October 1, 2019
