May 19, 2017, Tampa, Florida – Global blockchain market is expected to reach USD 16.3 billion by 2024, according to a new research study published by Ameri Research. Escalating focus by organizations on immutability, transparency, and scalability is a major factor driving market growth over the forecast period.
Extensive use across varied business applications including logistics & transportation, BFSI, retail, healthcare, media & entertainment, manufacturing, legal and government is anticipated to fuel market growth. Additionally, high efficiency of this technology for intra-organizational execution, asset management, transaction processing, and identity management have significantly resulted inmounting adoption by enterprises to better handle resources and produce superior results.
Lack of awareness regarding the blockchain technology coupled with uncertain regulatory status is anticipated to hinder market growth significantly over the next few years. However, the industry is witnessing an imminent trend of venture capitalists and financial institutions investing heavily in blockchain which is also expected to catapult demand significantly over the forecast period.
Click the link below to view the report description: - https://www.ameriresearch.com/product/blockchain-market-outlook-2024
Key findings from the study: -
- Large enterprises accounted for more than 70% of the overall revenue in 2016 and is also anticipated to witness bullish growth over the next few years mainly on account of rising demand from these organizations to record high volumes of operational and financial transactions
- Payment segment emerged as the dominant application segment in 2016 which is majorly attributed to the growing adoption of virtual transactions and online payments primarily in the developing countries including India, Brazil, Vietnam, and Singapore
- BFSI held the majority market share in 2016 and is expected to witness robust growth over the forecast period which is accredited to the snowballing number of online transaction worldwide
- Asia Pacific emerged as the fastest growing regional market in the global blockchain market closely followed by Latin America majorly owing to the increasing penetration of online transactions in the region
- Key industry participants includeMicrosoft Corporation, IBM Corporation,Deloitte, Coinbase,Digitalx Ltd.,Bitfury, and Digital Asset Holdings. Major players focus on developing innovative and effective technologies to increase their market share
Market Segmentation
- Blockchain Market by Enterprise Size (Revenue, USD Million)
- Small Medium Enterprises (SMEs)
- Large Enterprises
- Blockchain Market by Application (Revenue, USD Million)
- Payment
- Exchanges
- Smart Contracts
- Documentation
- Digital Identity
- Others
- Blockchain Market by End-Use (Revenue, USD Million)
- BFSI
- Healthcare
- Retail
- Automotive
- Media & Entertainment
- Government
- Others
- Blockchain Market by Region (Revenue, USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
- Saudi Arabia
- UAE
Media Contact
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City: Tampa
State: FL
Country: United States
Website: https://www.ameriresearch.com/product/blockchain-market-outlook-2024
