Global Blockchain Technology Market Share Likely to Grow at a CAGR of 68% by 2030 – Custom Market Insights
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Blockchain Technology Market Size, Share, Growth – Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook and Forecast 2022-2030
SANDY, UTAH, USA, July 27, 2022 /EINPresswire.com/ — The blockchain technology market size was estimated to be around USD 4.8 billion in 2021 and is expected to reach USD 69 billion by 2030, with a CAGR of approximately 68% between 2022 and 2030. The report examines blockchain technology market drivers and restraints, as well as how they will impact demand over the forecast period. The paper also looks at international potential in the global blockchain technology sector.
Blockchain Technology Market: Overview
The corporate network can record transactions and track assets more easily thanks to blockchain technology. Real estate, vehicles, money and property are examples of tangible assets (intellectual property, patents, copyrights, trademarks). On the blockchain network, almost anything of value can be tracked and traced, reducing costs and risk for all parties. Blockchain is the best technology to deliver this data as it enables fully transparent, instantly shared data to be stored in an immutable ledger accessible only to authorized network users. Orders, payments, accounts, production and more can be tracked using the blockchain network.
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Growth factors
Market expansion is expected as a result of companies such as PayPal and Xbox accepting cryptocurrency as a form of payment. To enable crypto-based payments for their customers, a number of eateries have joined forces with crypto solution providers.
Blockchain technology offers enormous potential in a variety of industries, including finance, cyber security and the Internet of Things. Numerous application areas, including smart city initiatives, smart transportation, vehicle connectivity and self-driving cars, smart grids, and smart homes, have widely deployed IoT devices. Many companies are creating new technology use cases using IoT devices, which are widely used as IoT devices. Blockchain technology is being used by some innovators to build decentralized networks of IoT devices. As a result, there is no longer a requirement for a central hub for device connectivity. Blockchain technology is expected to enable direct device-to-device communication, eliminating the need for additional monitoring systems.
Key Players Insights
These major competitors in the blockchain market, along with their business profiles, recent advancements, and key market strategies, are subject to a thorough competitive analysis in the study. Guardtime, Cegeka, Symbiont, BigHand, Applied Blockchain, Auxesis Group, Spinneys, Infosys, NTT Data, Factom and R3 are some of the participants.
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Some of the prominent players
IBM
AWS
Intel
Infosys
NTT data
The global blockchain technology market is segmented as follows:
By component
Platform
Services
By supplier
application
Middleware
Infrastructure
By organization
Large companies
SMEs
Upon application
Transportation and logistics
Agriculture and food
Energy and utilities
BFSI
IT and Telecom
The authorities
Retail and e-commerce
Second
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By geography
North America
USA
Canada
Mexico
Europe
France
Great Britain
Spain
Germany
Italy
The rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Middle East and Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
The rest of the Middle East and Africa
Latin America
Brazil
Argentina
The rest of Latin America
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