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Jun 11, 2019 (MarketersMedia via COMTEX) — The business opportunity of Blockchain Technology Market. Consult to our analyst and gain crucial insights and facilitate your business growth
Dublin, United States – June 11, 2019 /MarketersMedia/ —
Global Blockchain Technology Market reports provide CAGR Value 2018-2025 and analysis of Top Players, Geography, End users, Applications, Competitor analysis, Sales, Revenue, Price, Gross Margin, Market Share, Trends and Forecast. Rising demand for Blockchain Technology in financial institutions, healthcare and supply chain management will augment Blockchain Technology Market in the upcoming year.
The global Blockchain Technology market is expected to grow with a significant rate during the forecast period 2018-2025 owing to the growing demand of distributed ledger technology, increasing cryptocurrencies market cap need of abridged business procedures and creating transparency and immutability and faster transactions.
Public product type of Blockchain Technology market is projected to be the leading segment of the overall market during the forecast period.
On the basis of type, the Blockchain Technology market has been segmented into Public, Private, and Consortium or Federated. Public blockchain dominates the global Blockchain Technology owing to its properties which can be accessed by any and everyone.
Infrastructure & protocol provider is expected to leading industry for providing Blockchain Technology services during the forecast period.
On the basis of application, the global Blockchain Technology market has been segmented into Application and solution provider, Middleware provider and Infrastructure & protocol provider. By Service provider type, Infrastructure & protocol provider segment will lead the Blockchain Technology market owing to providing customized distributed ledger network for their customer. The application and solutions providers are anticipated to the fastest growing segment due to the application developers develop applications that minimizing the transcription data duplication and offering timely authentication.
Payment is projected to leading industry for utilizing applications of the Blockchain Technology during the forecast period
On the basis of application type, the Blockchain Technology market has been segmented into Payments, Exchange, Digital identity, Smart Contracts, Documentation, Supply chain management, Governance, risk and compliance management. By application type, the Payment segment will lead the market owing to properties of blockchain to reduce the need for middlemen such as third-party authorization and central agencies from the payment processing. Digital identity segment will be the fastest growing market owing to providing secure and trustworthy identification system.
BFSI is anticipated to dominating End-Users segment for utilizing applications of the Blockchain Technology during the forecast period.
On the basis of End-users type, the Blockchain Technology market has been segmented into BFSI, Government and public sector, Healthcare, Media and Entertainment, Retail and e-Commerce, Travel and hospitality, Transportation and logistics, IT and telecommunications, others (automotive, education, and energy and utilities). By end-users type, BFSI segment is projected to lead the market due to technology has the ability to reduce the cost, abridged new business procedures and creating transparency and immutability and faster transactions. Healthcare segment will influence by providing better access to patients, the healthcare community, and researchers access to a shared data source to obtain timely, comprehensive, and accurate patient health data.
North America accounts for lion’s share of the global Blockchain Technology market during the anticipated period.
On the basis of region, the Blockchain Technology market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Blockchain Technology market over the forecast period owing to growing demand for applications of Blockchain Technology in various industries such as smart contracts, documentation and payment applications in most of its industries particularly in BFSI, retail and e-commerce, and healthcare and life sciences. Asia Pacific is projected to be the fastest growing market throughout the forecast period due to increment in applications of blockchain in BFSI, healthcare, and cybersecurity.