Blockchain technology market to reach $7.74 billion by 2024 “The global blockchain technology market is expected to reach USD 7.74 billion by 2024. The increasing adoption of the technology in the financial services sector and expected adoption across the public sector and healthcare segments are few of the major factors that are expected to fuel the demand for the said market” The global blockchain technology market is expected to reach USD 7.74 billion by 2024, according to a new report by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions. The technology works as an electronic transactionprocessing and record-keeping system. This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification. The increasing adoption of the technology in the financial services sector and expected adoption across the public sector and healthcare segments are few of the major factors that are expected to fuel the demand for the said market. Follow Us: Detailed Research Report available at: http://www.grandviewresearch.com/industry-analysis/blockchain-technologymarket The market is expected to grow rapidly owing to numerous benefits that it provides, such as eradication of the requirement of a financial institution to validate transactions, reduce duplicative record keeping, eliminate reconciliation, minimize error rates, and facilitate faster settlement. With the use of the said technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer togetherand help increase the efficiency. The increasing demand for this technology across financial services, consumer or industrial products, technology, media & telecom, healthcare, transportation, and public sector is largely responsible for driving the market toward growth. The major drivers include the growing interest of the BFSI sector and increasing merchants accepting crypto currencies among others. The probable opportunity of this technology further includes the instant settlement of various financial transactions and achieving optimized settlement options for the netting and clearing process. Further key findings from the report suggest: Recently, investments have been made in the technology by various financial institutions in association with key technology players to further improve the efficiency of the underlying financial processes and help minimize the risk The technology will be able to support IoT applications, book keeping in the healthcare sector, instantaneous payments in the transportation segment, and maintenance of records for land ownership by the governments in the public sector. Follow Us: Some of the prominent vendors in the market include Chain Inc., Circle Internet Financial Limited, Digital Asset Holdings, Eric Industries, IBM Corporation, Linux Foundation, Post-Trade Distributed Ledger, R3, Ripple, and Safello. Read our blog on technology industry: http://www.grandviewresearch.com/blogs/technology Table of content of global blockchain technology market research report: Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data Sources Chapter 2. Executive Summary Chapter 3. Blockchain Technology Market Variables, Trends, & Scope 3.1. Market Segmentation & Scope 3.2. Blockchain Value Chain Analysis 3.3. Blockchain Market Dynamics 3.3.1. Market driver analysis 3.3.2. Market restraint analysis 3.4. Penetration & Growth Prospect Mapping Follow Us: 3.5. Industry Analysis - Porter’s 3.6. Blockchain Market Rank Analysis 3.7. Blockchain Market PESTEL Analysis 3.8. Blockchain Market: Opportunity Analysis Chapter 4. Blockchain Technology Market: Type Estimates & Trend Analysis 4.1. Type Segment Analysis & Market Share, 2015 & 2024 4.2. Market Size & Forecasts and Trend Analysis, 2015 to 2024 4.2.1. Public 4.2.1.1. Market estimates and forecasts, 2015 - 2024 4.2.2. Private 4.2.2.1. Market estimates and forecasts, 2015 - 2024 4.2.3. Hybrid 4.2.3.1. Market estimates and forecasts, 2015 - 2024 Chapter 5. Blockchain Technology Market: Application Estimates & Trend Analysis 5.1. Application Analysis & Market Share, 2015 & 2024 5.2. Market Size & Forecasts and Trend Analysis, 2015 to 2024 Follow Us: 5.2.1. Financial services 5.2.1.1. Market estimates and forecasts, 2015 - 2024 5.2.2. Consumer or industrial products 5.2.2.1. Market estimates and forecasts, 2015 - 2024 5.2.3. Technology, media, and telecom 5.2.3.1. Market estimates and forecasts, 2015 - 2024 5.2.4. Healthcare 5.2.4.1. Market estimates and forecasts, 2015 - 2024 5.2.5. Transportation 5.2.5.1. Market estimates and forecasts, 2015 - 2024 5.2.6. Public sector 5.2.6.1. Market estimates and forecasts, 2015 - 2024 Chapter 6. Blockchain Technology Market: Regional Estimates & Trend Analysis 6.1. Regional Movement Analysis & Market Share, 2015 & 2024 6.2. Market Size & Forecasts and Trend Analysis, 2015 to 2024 for the following region: 6.2.1. North America Follow Us: 6.2.1.1. Market estimates and forecasts, 2015 - 2024 6.2.1.2. U.S. 6.2.1.2.1. Market estimates and forecasts, 2015 - 2024 6.2.1.3. Canada 6.2.1.3.1. Market estimates and forecasts, 2015 - 2024 6.2.1.4. Mexico 6.2.1.4.1. Market estimates and forecasts, 2015 - 2024 6.2.2. Europe 6.2.2.1. Market estimates and forecasts, 2015 - 2024 6.2.2.2. UK 6.2.2.2.1. Market estimates and forecasts, 2015 - 2024 6.2.2.3. Germany 6.2.2.3.1. Market estimates and forecasts, 2015 - 2024 6.2.2.4. France 6.2.2.4.1. Market estimates and forecasts, 2015 - 2024 6.2.3. APAC 6.2.3.1. Market estimates and forecasts, 2015 - 2024 Follow Us: 6.2.3.2. China 6.2.3.2.1. Market estimates and forecasts, 2015 - 2024 6.2.3.3. India 6.2.3.3.1. Market estimates and forecasts, 2015 - 2024 6.2.3.4. Australia 6.2.3.4.1. Market estimates and forecasts, 2015 - 2024 6.2.4. Rest of the world 6.2.4.1. Market estimates and forecasts, 2015 - 2024 Chapter 7. Competitive Landscape 7.1. Strategy Framework 7.2. Company Profiles 7.2.1. BTL Group 7.2.2. Chain, Inc. 7.2.3. Circle Internet Financial Limited 7.2.4. Deloitte 7.2.5. Digital Asset Holdings 7.2.6. Eric Industries Follow Us: 7.2.7. Global Arena Holding, Inc. (GAHI) 7.2.8. IBM Corp. 7.2.9. Linux Foundation 7.2.10. Microsoft Corp. 7.2.11. Post-Trade Distributed Ledger 7.2.12. R3 7.2.13. Ripple 7.2.14. Safello Follow Us: About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com Web – http://www.grandviewresearch.com/ Follow Us:
The global blockchain technology market is expected to reach USD 7.74 billion by 2024, according to a new report by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions. The technology works as an electronic transaction-processing and record-keeping system. This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification.
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