ALBANY, New York, June 25, 2018 /PRNewswire/ --
The global blockchain technology market depicts the presence of a highly competitive and emerging vendor landscape, says Transparency Market Research, on the basis of a recently published report. Such an intense competition mainly exists due to the presence of powerful and well-known players. Many businesses working in this market are focusing on mergers and acquisitions as key strategies, in order to gain extensive revenue.
Enhancing product portfolio, bringing about geographical expansion, and increasing capacity of provision of blockchain processes, also are other important schemes implemented by most organizations operating in the global blockchain technology market. With the entry of new players on a regular basis, the level of competition is expected to dramatically increase during the forthcoming years. Microsoft Corporation, Ripple, IBM Corporation, Digital Asset Holdings LLC, Credits, Deloitte Touche Tohmatsu Limited, Chain Inc., Consensus Systems (ConsenSys), and R3, are key players operating in the global blockchain technology market.
Request a Brochure for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18437
The global blockchain technology market is expected to gain revenue worth US$20 bn by 2024, which is a significant increase from US$315.9 mn gained in 2015. Such a revenue gain is projected to occur at a mind blowing CAGR of 58.9% during the forecast period ranging from 2016 to 2024.
Growth in Cryptocurrencies Fuels Blockchain Technology Market
The global blockchain technology market is mainly being driven by mammoth investments made by several startups companies working in the same field. Increasing partnerships between blockchain technology providers and financial organizations is also expected to make the market pick up extensive pace in the near future. An enormous growth in cryptocurrency-based transactions, coupled with associated processes such as mining and hashing that require blockchain technologies, is also propelling the market up to a large extent. Additionally, the banking sectors is growing extensively with leaps and bounds, further encouraging use of recent technologies like blockchain, consequently boosting growth in the global blockchain technology market.
Request a PDF Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18437
High Costs for Blockchain Setups Hinders Market's Expansion
However, volatility in cryptocurrency trading has occurred in recent times, especially in context of bitcoin's fall and consequent downgrading scenarios experienced by other currencies, is is largely hindering the global blockchain technology market. Lack of relevant source material in several underdeveloped and remote regions process blockchain technologies too has been restraining the global blockchain technology market's growth. Moreover, high costs of setting blockchain technologies presents difficulties for new businesses having less capital to establish themselves properly. Nevertheless, some organizations are expected to introduce cost effective solutions, which may reduce effects of the restraints in the near future.
Download Report TOC for in-depth analysis at https://www.transparencymarketresearch.com/report-toc/18437
From a regional perspective, this market is segmented into North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. Of these, North America grabs the lion's share in terms of revenue gained, owing to a strong technological infrastructure and high awareness regarding blockchain processes, present in the region. However, the next few years are also expected to depict Asia Pacific gain rampant growth, owing to rising awareness about the blockchain systems, mainly in leading countries like India and China.
This review is based on Transparency Market Research's report, titled, "Blockchain Technology Market (Type - Public Blockchain, Private Blockchain, and Consortium Blockchain; Application - Financial Services and Non-financial Sector) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
Request for Multiple Chapters on this Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=18437
- Many businesses working in this market are focusing on mergers and acquisitions as key strategies, in order to gain extensive revenue.
- The global blockchain technology market is mainly being driven by mammoth investments made by several startups companies working in the same field.
The Blockchain technology market is segmented as follows:
- Public blockchain
- Private blockchain
- Consortium blockchain
- Financial services
- Non-financial sector
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Middle East and Africa
- South Africa
- South America
Popular Research Reports by TMR:
- Cryptocurrency Market (Component - Hardware (FPGA, GPU, ASIC, and Wallet), Software (Mining Platform, Blockchain, Coin Wallet, Exchange); Type - Bitcoin, Ethereum, Ripple (XRP), Litecoin, and Dashcoin) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025:https://www.transparencymarketresearch.com/cryptocurrency-market.html
- Blockchain Distributed Ledger Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023: https://www.transparencymarketresearch.com/blockchain-distributed-ledger-market.html
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.
Our reports are single-point solutions for industries to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Research Blog: http://www.editiontruth.com/
SOURCE Transparency Market Research