NEW YORK, Nov. 20, 2017 /PRNewswire/ -- The Blockchain technology is mainly designed to maintain the distributed decentralized databases, which consists of a growing list of data records that preserves the integrity, singularity and validity of the stored information, without involving any third party for verification purposes. It has the potential to protect the identities of the user, making Blockchain a more secure way to carry out any transaction.
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With the modernization of technology especially by digitalization of currency; this technology have penetrated deeply into various industry verticals. The overall market is classified based on industry vertical – banking financial services & insurance (BFSI), information and communication, government & public sector, healthcare, logistics, supply chain & transportation, e-commerce and retail and others.
The report incorporates the distinct analysis of the market on the basis of the product and services such as exchanging, trading and investment, financial services, infrastructure, payments & E-wallet, digital identity & reputation and others. Based on provider type market is segmented into solution & application provider and infrastructure & protocol provider.
Based on industry verticals of market is segregated by banking financial services & insurance (BFSI), information and communication, government & public sector, healthcare, logistics, supply chain & transportation, e-commerce and retail and others. The market has also been segmented on the basis of type such as public and private Blockchain. Based on Geography, market is classified in to North America, Asia-Pacific, Europe and RoW. The report also provides a detailed analysis of financials, strategy, products, and recent developments of the leading companies in the Blockchain market.
Global Blockchain market is estimated to reach $6,076.6M by 2023, and expected to grow at a CAGR of 48.37% during the forecast period. North American region is dominating the global Blockchain market.
North American region comprises of well-established end-user industries which are increasingly employing Blockchain technology for payments, digital identities, smart contracts and documentation. It is followed by European and Asia-Pacific region. The growth is due to increasing interest about Blockchain technology among the citizens, businesses organizations and various industry verticals across the European Union and APac.
Sample Companies Profiled in this Report are:
Microsoft Corporation (U.S.),
IBM Corporation (U.S.),
Deloitte Touche Tohmatsu Limited (U.S.),
Ripple (U.S.),
BTL Group Ltd. (Canada),
10+.
Other companies challenging their position in the Blockchain market include:
Chain Inc. (U.S.)
Global Arena Holding, Inc. (U.S.)
DigitalX Ltd. (Australia) and among others.
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