Blockchain Technology Market Size – USD 1.98 billion in 2019, Market Trends – Integration of Blockchain technology into government agencies
VANCOUVER, BC, CANADA, April 12, 2022 /EINPresswire.com/ – 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 helps 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.
The researchers have considered all the factors influencing the growth of the Blockchain Technology market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Blockchain Technology market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Blockchain Technology market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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Some Key Findings 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 competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Blockchain Technology industry are:
AWS, INTEL, IBM, MICROSOFT, HUAWEI, SAP, ORACLE, DIGITAL ASSET HOLDINGS, BLOCKCYPHER, and GUARDTIME, among others.
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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)
Enterprise size Outlook (Revenue, USD Billion; 2017-2027)
Small & Medium Enterprises
Provider Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Banking and Financial services
Healthcare and Life sciences
Transportation and Logistics
Retail and eCommerce
The report offers a country-wise analysis to provide a comprehensive analysis of the Blockchain Technology market in terms of production and consumption patterns, supply and demand ratio, import / export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (US, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
The all-inclusive report on the Global Blockchain Technology Market added by Emergen Research demonstrates that the global Blockchain Technology market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Blockchain Technology market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Blockchain Technology Market Report:
The report encompasses Blockchain Technology market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements.
An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies.
Supply chain analysis along with technological advancements offered in the report
The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Blockchain Technology industry.
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