NEW YORK, Nov. 11, 2021 /PRNewswire/ -- According to the
research report "Blockchain Technology Market - Forecast and
Analysis Report 2021-2025", the market is expected to have a
YOY growth rate of 19.00% in 2021 and is supposed to grow at a CAGR
of over 32% between 2020 and 2025.
North America is the largest
market for blockchain technology. The increasing adoption of
blockchain technology by governments for voting and to enforce
stricter regulations on the purchase and possession of weapons such
as guns is creating significant growth opportunities for blockchain
technology providers in North
America.
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additional highlights and key points on various market segments and
how they will impact in coming years.
Vendor Insights
The global blockchain technology market is fragmented with the
presence of several global and regional players. Accenture Plc,
Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys
Ltd., Intel Corp., International Business Machines Corp., Microsoft
Corp., Oracle Corp., SAP SE, and Tata Consultancy Services Ltd. are
some of the dominant vendors featured in the report.
Some of the leading players in the market are acquiring startups
and partnering with FinTech companies and IT firms to develop
blockchain solutions.
For instance, in April 2020,
Accenture Plc completed its acquisition of Symantec Cyber Security
Services from Broadcom Inc. Again, in May
2020, the company acquired Callisto Integration, a
Canada-based provider of
consulting and technology services.
Find additional highlights on the growth
strategies adopted by vendors and their product offerings.
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Geographical Market Analysis
North America will provide
maximum growth opportunities in the blockchain technology market
during the forecast period. According to our research report, the
region currently holds 43% of the global market share and is
expected to dominate the market through 2025.
The report also offers a detailed analysis of the growth of the
market across Europe, APAC,
South America, and MEA. In
addition, countries such as the US, China, UK, Canada, and Germany are expected to emerge as prominent
markets for blockchain technology during the forecast period.
Know more about this market's geographical
distribution along with the detailed analysis of the top
regions.
www.technavio.com/report/blockchain-technology-market-industry-analysis
Key Market Trends & Challenges:
The report identifies the advent of AI as the major trend
influencing the blockchain technology market. The integration of AI
with blockchain is one of the most advanced IT developments taking
place currently. The use of AI helps decentralize monetary systems
and predict the value of bitcoins. This can help traders to
efficiently manage bitcoin transactions. This trend is expected to
further gain prominence with the growing focus on enhancing
security and customer experience by FinTech firms worldwide.
Despite the integration of AI, network privacy and security
concerns might inhibit the growth of the market. Service providers
gather a lot of personal information from customers through cookies
to create custom advertisements and target the right audience. This
collected data could be misused and hacked, which can lead to
financial losses for customers. This is discouraging users from
adopting FinTech solutions, which is reducing the growth
opportunities for vendors.
View free sample for
highlights on market Trends & Challenges affecting the
blockchain technology market.
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Related Reports:
Global Fintech Blockchain Market – Global fintech
blockchain market is segmented by component (platform and services)
and geography (North America,
Europe, APAC, South America, and MEA).
Download Exclusive Free Sample Report
Blockchain Identity Management Market – Global
blockchain identity management market is segmented by end-user
(BFSI, government, healthcare, and others), application (end-point,
network, and infrastructure), and geography (North America, Europe, APAC, South
America, and MEA).
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Blockchain
Technology Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base
year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum
& CAGR
|
Accelerate at a CAGR
of over 32%
|
Market growth
2021-2025
|
USD 6.25
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
19.00
|
Regional
analysis
|
North America,
Europe, APAC, South America, and MEA
|
Performing market
contribution
|
North America at
43%
|
Key consumer
countries
|
US, China, UK,
Canada, and Germany
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
Accenture Plc,
Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys
Ltd., Intel Corp., International Business Machines Corp., Microsoft
Corp., Oracle Corp., SAP SE, and Tata Consultancy Services
Ltd.
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period.
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
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SOURCE Technavio