Blockchain Technology Market Size Expected to Reach USD 111.58 Billion by 2027 | CAGR of 67.6%
The rising adoption of blockchain technology in supply chain management is driving the demand of the market.
VANCOUVER, BRITISH COLUMBIA, CANADA, September 15, 2022 /EINPresswire.com/ — The new report titled ‘Global Blockchain Technology Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Blockchain Technology market outlook over the forecast duration (2020-2027). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Blockchain Technology market.
The global Blockchain Technology Market will be worth USD 111.58 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rising adoption of blockchain technology in supply chain management. Blockchain technology help in the flow of information through multiple nodes, and it also helps in back-tracking the origin of the products. The blockchain technology can efficiently handle the tracking of the raw materials and enhance the transparency of the supply system. The increased transparency of the supply chain provides more visibility to both consumers and businesses and reduces fraud for high-value goods such as pharmaceutical drugs and diamonds. The usage of blockchain technology reduces communication or transfer data errors as it provides all t parties involved in a supply chain with the same information. Thus blockchain technology helps in reducing cost or improving the quality of the products.
Increasing integration of Blockchain technology into government agencies for effective data management. The increasing interest of the government or public organization to utilize the blockchain technology in order to enhance the transparency and security of the organizations.
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The latest research report serves as a perfect example of the precise analysis of the global Blockchain Technology market. It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Blockchain Technology industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic’s aftermath, with respect to this industry. Furthermore, the major aspects of the market have been discussed in the report, with expert opinions on the current status of the market.
Some Key Highlights from the Report:
In November 2019, Coke One North America (CONA) acquired the blockchain technology of SAP. The acquisition was performed to streamline the supply chain processes between the 70 franchised bottling companies, and it also increased efficiency and transparency of the CONA’s complex production line.
The private segment held the largest market share of 46.6% in 2019, as it is more centralized in nature than the public blockchain. Moreover, private blockchain can process faster transactions and are also far more scalable.
Small & Medium enterprises are forecasted to grow with the fastest CAGR of 68.0% over the forecast period as more number of startups are adopting blockchain technology.
The Infrastructure segment held the largest market share of the blockchain technology in 2019 due to the increasing demand for the blockchain protocol such as Openchain, Ethereum, BigChainDB, and Hyperledger.
The Banking and Financial Services segment accounted for the largest market share in 2019 due to the advantages of secure transactions obtained through blockchain technologies.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the rising investments by financial technology (FinTech) firms in emerging economies.
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Competitive Outlook:
The global Blockchain Technology market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Blockchain Technology market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry include:
AWS, INTEL, IBM, MICROSOFT, HUAWEI, SAP, ORACLE, DIGITAL ASSET HOLDINGS, BLOCKCYPHER, and GUARDTIME, among others.
Emergen Research has segmented the global Blockchain Technology Market on the basis of Type, Enterprise size, Provider, Application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Private
Public
Hybrid
Enterprise size Outlook (Revenue, USD Billion; 2017-2027)
Small & Medium Enterprises
Large Enterprises
Provider Outlook (Revenue, USD Billion; 2017-2027)
Application
Middleware
Infrastructure
Application Outlook (Revenue, USD Billion; 2017-2027)
Banking and Financial services
Healthcare and Life sciences
Transportation and Logistics
Government
Retail and eCommerce
Others
Key regions covered in the report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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The report considers the following timeline for market estimations:
Historical Years: 2016 – 2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020 – 2027
In conclusion, the Blockchain Technology Market report is an exhaustive database that will help readers formulate lucrative strategies. The Blockchain Technology Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
Questions addressed in the report:
What is the estimated market growth rate throughout the forecast period?
Which end-use industry is expected to witness the highest demand for Blockchain Technology in the near future?
What is the regulatory framework governing the application of Blockchain Technology in the food industry?
Which manufacturing processes are utilized for the production of Blockchain Technology?
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Thank you for reading our report. Customization of this report is available in chapter-wise or region-wise sections. Kindly get in touch with us to know more about the report, and our team will provide excellent assistance.
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