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Blockchain Technology Market To Witness Healthy Growth At 69.4% CAGR By 2025, Due To Rising Acceptance Of Cryptocurrency & High Demand From BFSI Sector | Million Insights


News provided by

Million Insights

Dec 02, 2020, 04:40 ET

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FELTON, Calif., Dec. 2, 2020 /PRNewswire/ -- The global blockchain technology market is estimated to reach USD 57,641.3 million, by the end of 2025, and is anticipated to grow at a CAGR of 69.4% over the forecast period, 2019 to 2025, according to a new report by Million Insights. Blockchain technology helps to monitor all types of cryptocurrency transactions. This technology works as a record-keeping & electronic transaction & record processing system. This solution enables users that are connected over the network to track data through a secured network, thereby, eliminating the need for third party authentication.

The market is anticipated to propel at a rapid pace due to various benefits such as minimized error rate, elimination of reconciliation, and reduction in record delicacy. Blockchain technology solution makes the database to be universal and allows different institutions to utilize the same. This universal access at the same time increases the efficiency of the system.

Please click here to get the sample pdf and find more details on "Blockchain Technology Market" Report 2025.

Growing demand for blockchain solutions across healthcare, financial services, media & telecom, public sector, and transportation sector is boosting the market growth. Increasing acceptance of cryptocurrency and rising demand from the BFSI sector is also proliferating the need for blockchain technology. This technology provides instant settlements for financial transactions with optimized options.

Key participants in the blockchain technology market include, Microsoft Corporation; Linux Foundation; IBM Corporation; Deloitte; BTL Group; R3; Chain Inc.; Global Arena Holding, Inc. (GAHI); Circle Internet Financial Limited; Eric Industries; and Ripple.

Further key findings from the report suggest:

  • Public type segment is projected to propel at the fastest CAGR of over 70.1% over the forecasted period, 2019 to 2025. Growing adoption of this solution in government & institutions is supporting the segmental growth.
  • Application & solution component segment is estimated to grow the CAGR of more than 71.2% during the forecasted period. Various benefits like reduced data duplication, timely authentication are contributing to market growth.
  • Digital identity application segment is projected to register the fastest CAGR in the next few years.
  • Based on the enterprise size, small and medium enterprise segment is anticipated to register the fastest CAGR of over 70.7% during the forecasted period.
  • In 2018, financial services type segment led the blockchain technology market with the highest share and is estimated to continue its dominance in the next six years.
  • Asia Pacific is projected to register the highest CAGR from 2019 to 2025. Growing demand for blockchain technology in banks & finance institutions is driving the market growth.

Browse 150 page research report with TOC on "Global Blockchain Technology Market" at: https://www.millioninsights.com/industry-reports/global-blockchain-technology-market

Million Insights has segmented the global blockchain technology market based on type, component, application, enterprise size, end-use and region:

  • Blockchain Technology Type Outlook (Revenue, USD Million, 2015 - 2025)
    • Public
    • Private
    • Hybrid
  • Blockchain Technology Component Outlook (Revenue, USD Million, 2015 - 2025)
    • Application & Solution
    • Infrastructure & Protocols
    • Middlewar
  • Blockchain Technology Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Digital Identity
    • Exchanges
    • Payments
    • Smart Contracts
    • Supply Chain Management
    • Others
  • Blockchain Technology Enterprise Size Outlook (Revenue, USD Million, 2015 - 2025)
    • Large Enterprises
    • Small & Medium Enterprises
  • Blockchain Technology End Use Outlook (Revenue, USD Million, 2015 - 2025)
    • Financial Services
    • Government
    • Healthcare
    • Media & Entertainment
    • Retail
    • Transportation & Logistics
    • Travel
    • Others
  • Blockchain Technology Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
    • South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • UAE

Explore the latest market research reports by Million Insights:

  • Furniture Market - The global furniture market size was USD 480.7 billion in 2017, growing at 5.1% CAGR over the forecast duration, 2018 to 2025. Increasing disposable income coupled with growth in the hospitality sector has led to a rise in demand for premium furniture.
  • Pay TV Market - The global pay TV market size was accounted for USD 225.9 billion in 2019, growing at over 1.5% CAGR over the forecast period, 2020 to 2027. With the technical advancements, there has been the integration of predictive analytics solutions that have led to a rise in popularity of Over-The-Top (OTT).
  • Electric Scooters Market - The global electric scooters market size was accounted for USD 18.6 billion in 2019. Factors such as depleting energy non-renewable energy sources and increasing concern regarding the emission of greenhouse gases are driving the demand for electric scooters.
  • North America Industrial Insulation Market - The North America industrial insulation market size was accounted for USD 1.86 billion in 2017. It is projected to grow at a significant CAGR of 4.0% over the forecast period, 2018 to 2025. The increasing demand for insulation materials in different industries with an emphasis on reducing thermal losses in heat transfer operations is boosting the market growth.

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter

SOURCE Million Insights

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