DUBLIN–(BUSINESS WIRE)–The “Blockchain Market to 2027 – Global Analysis and Forecasts by Application; Industry Vertical” report has been added to ResearchAndMarkets.com’s offering.
The global blockchain market was valued at US$ 1.57 Bn in 2018 and is expected to reach US$ 162.84 Bn by 2027 with a CAGR growth rate of 68.1% in the forecast period from 2019 to 2027.
The increasing proliferation of Blockchain technology in various industries ranging from BFSI to retail is pushing the government and companies worldwide to focus and invest in Blockchain technology. Presently, Blockchain technology has a variety of use cases in the BFSI sector, and over the past few years, the applications of Blockchain in payments, smart contracts, document management, and others have been growing at an exponential rate.
The successful implementation of Blockchain in BFSI sector attracted interest from other industries such as retail, logistics, government towards the benefits offered by Blockchain such as increased operational efficiency and reduced costs in various business functions.
Blockchain technology is developing at an exponential pace with more and more companies and startups expanding their innovative blockchain solutions portfolio. As use cases associated with Blockchain and areas of demand have risen, startups have adopted blockchain technology to meet growing consumer demands. Blockchain technology helps in reducing documentation and compliance costs.
North America holds the majority revenue share in the global blockchain market. The fast growth and adoption in North America is primarily driven by the growing demand of blockchain solutions from various industries such as BFSI, Retail, Government, Transportation and Logistics, Healthcare, Automotive, and Media & Entertainment.
With big market players such as IBM, Microsoft, and Accenture, a large number of start-ups are also entering the blockchain marketplace to develop innovative Blockchain based solutions and services. These start-ups, further, are receiving a considerable amount of funding from the investors.
Growing regions such as Asia Pacific, Middle East, Africa, and South America are also anticipated to offer significant growth opportunities for the global blockchain market in the forecast period from 2019 to 2027 owing to the supportive government initiatives.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Blockchain Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
5. Blockchain Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Extensive Adoption of Blockchain Solutions in the BFSI Industry Vertical
5.1.2 Higher Transparency and Operational Efficiency with Substantial Cost Savings
5.1.3 Increasing Number of Innovative Start-Ups Worldwide
5.2 Key Market Restraints
5.2.1 Data Privacy, Confidentiality and Security Concerns
5.2.2 Unclear Regulatory Environment
5.2.3 Interoperability, Scalability and Sustainability Challenges
5.3 Key Market Opportunities
5.3.1 Rising Government Support and Initiatives Worldwide
5.4 Future Trends
5.4.1 Combination of Blockchain and Artificial intelligence for Advanced Applications
5.5 Impact Analysis of Drivers and Restraints
6. Blockchain – Global Market Analysis
6.1 Global Blockchain Market Overview
6.2 Global Blockchain Market Forecast and Analysis
6.3 Market Positioning- Top Three Players
7. Global Blockchain Analysis – By Application
7.2 Global Blockchain Breakdown, By Application, 2018 & 2027
7.5 Smart Contracts
7.7 Digital Identity
7.8 Governance, Risk & Compliance
8. Blockchain Market Revenue And Forecasts To 2027 – Industry Vertical
8.2 Blockchain Market Breakdown, By Industry Vertical, 2018 & 2027
8.3 BFSI Market
8.4 Retail Market
8.5 Government Market
8.6 Transportation & Logistics Market
8.7 Healthcare Market
8.8 Automotive Market
8.9 Media & Entertainment Market
8.10 Others Market
9. Blockchain Market – Geographical Analysis
10. Industry Landscape
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Company Profiles
- IBM Corporation
- Microsoft Corporation
- Amazon Web Services
- SAP Se
- Hewlett Packard Enterprise Development LP (HPE)
- Oracle Corporation
- Intel Corporation
- Bitfury Group
For more information about this report visit https://www.researchandmarkets.com/r/8w0bvo
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire