Blockchain Market Overview and Insights:
According to MarkNtel Advisors Report, the Global Blockchain Market is rapidly expanding and expects a whopping 73.1% CAGR during the forecast period, i.e., 2023-28.
Blockchain Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
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Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-2028
What are the major challenges facing the Blockchain Market?
The primary growth restraint to the Global Blockchain Market during 2023-28 is less awareness of the significance & benefits of blockchain technology, especially across sectors other than BFSI, coupled with the lack of knowledge among people about its implementation. It, in turn, is restricting its scalability and R&D investments associated with it. Besides, uncertain regulations, security & privacy concerns with blockchain transactions, and high energy consumption during crypto mining are a few other aspects restricting the adoption of blockchain technology among organizations, which could hinder the growth of the global market in the years to come.
Who are the Key Players Operating in the Blockchain Industry?
The top companies of the Blockchain market ruling the industry are:
- IBM
- Amazon Web Services, Inc.
- Microsoft
- SAP
- Intel
- Oracle
- NTT Data
- Accenture
- Deloitte Touche Tohmatsu Limited
- Consensys Systems
- Huawei
- Monax
- Blockchain Tech LTD
- R3
- Others
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What is Included in Blockchain Market Segmentation?
The report has segmented the market into the following categories:
By Component
- Services- Market Size & Forecast 2018-2028F, USD Million
- Consultation- Market Size & Forecast 2018-2028F, USD Million
- Development & Integration- Market Size & Forecast 2018-2028F, USD Million
- Support & Maintenance- Market Size & Forecast 2018-2028F, USD Million
- Platform- Market Size & Forecast 2018-2028F, USD Million
By Provider
- Application Provider- Market Size & Forecast 2018-2028F, USD Million
- Infrastructure Provider- Market Size & Forecast 2018-2028F, USD Million
- Middleware Provider- Market Size & Forecast 2018-2028F, USD Million
By Type
- Private- Market Size & Forecast 2018-2028F, USD Million
- Public- Market Size & Forecast 2018-2028F, USD Million
- Hybrid- Market Size & Forecast 2018-2028F, USD Million
By Organization
- Small- Market Size & Forecast 2018-2028F, USD Million
- Medium- Market Size & Forecast 2018-2028F, USD Million
- Large- Market Size & Forecast 2018-2028F, USD Million
By Application
- Payment- Market Size & Forecast 2018-2028F, USD Million
- Documentation- Market Size & Forecast 2018-2028F, USD Million
- Exchanges- Market Size & Forecast 2018-2028F, USD Million
- Supply Chain Management- Market Size & Forecast 2018-2028F, USD Million
- Digital Identity- Market Size & Forecast 2018-2028F, USD Million
- Others (Advertising insights, Smart Contracts, etc.) - Market Size & Forecast 2018-2028F, USD Million
Amongst all applications, payments hold the biggest share in the Global Blockchain Market, and the same trend is expected during the forecast period, i.e., 2023-28. It attributes primarily to the increasing market value of cryptocurrencies, declining transaction costs, and the mounting utilization of cloud services in payments & transactions. Blockchain technology helps automate payments and enable low-cost cross-border transactions & settlements.
By End User
- BFSI- Market Size & Forecast 2018-2028F, USD Million
- Government- Market Size & Forecast 2018-2028F, USD Million
- Logistics- Market Size & Forecast 2018-2028F, USD Million
- Healthcare- Market Size & Forecast 2018-2028F, USD Million
- Energy & Utilities- Market Size & Forecast 2018-2028F, USD Million
- Media & Entertainment- Market Size & Forecast 2018-2028F, USD Million
- IT & Telecom- Market Size & Forecast 2018-2028F, USD Million
- Retail & E-commerce- Market Size & Forecast 2018-2028F, USD Million
- Others (Agriculture, Manufacturing, etc.)- Market Size & Forecast 2018-2028F, USD Million
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Frequently Asked Questions (FAQs)-
- What are the industry's overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- How has the Blockchain industry been evolving in terms of geography & adoption?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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