Blockchain Market study by “Premium Market Insights” provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.
An exclusive Blockchain market research report provides depth analysis of the market dynamics across five regions such as North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by type, application, and region was done based on the thorough market analysis and validationthrough extensive primary inputs from industry experts, key opinion leaders of companies, and stakeholders) andsecondary research (global/regional associations, trade journals, technical white papers, company’s website, annual report SEC filing, and paid databases). Further, the market has been estimated by utilizing various research methodologies and internal statistical model.
The global blockchain market is expected to decline from $2.45 billion in 2019 to $2.27 billion in 2020 at a comping annual growth rate (CAGR) of -7.27%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that eventually led to a slowdown in the economy. The market is then expected to recover and grow very rapidly to reach $15.88 billion in 2023 at a CAGR of 91.25%.
Leading Blockchain market Players:
Amazon Web Services, Inc.
BTL Group Ltd.
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The blockchain market consists of sales of blockchain technology by the entities that develop this technology. Blockchain is a decentralized ledger or a database that records the data of the organizations in many databases which is called a block over a network called chain connected in peer to peer version referred to as node. Blockchain is preferred for its safe, secure and transparent nature.
Federated blockchain, also called as a consortium blockchain, is expected to be a major trend shaping the blockchain market in the forecast period. Federated blockchain is a private permission type of blockchain, which gives permission for multiple entities to have access to the network by voting or token system. Decentralization is maintained by the prior selection of the authority nodes by the organizations in the network which can exchange the data or information continuously. In 2018, IBM introduced Batavia, which a blockchain-based trade finance platform and a consortia group of 5 banks namely, UBS, Erste Group, Commerzbank, CaixaBank and Bank of Montrea and is powered by IBM.
The blockchain market covered in this report is segmented by type into private; public; hybrid. It is also segmented by provider into application; middleware; infrastructure and by application into BFSI; telecom & IT; government.
The report is a combination of qualitative and quantitative analysis of the virtual reality industry. The global market majorly considers five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SACM). The report also focuses on the exhaustive PEST analysis and extensive market dynamics during the forecast period.
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