CHICAGO, July 12,
2024 /PRNewswire/ -- The
global Blockchain Market size is projected to grow from
USD 20.1 billion in 2024 to
USD 248.9 billion by 2029 at a
Compound Annual Growth Rate (CAGR) of 65.5% during the forecast
period, according to a new report by MarketsandMarkets™. The
integration of cloud-based solutions and advanced technologies like
AI, ML, has propelled the rapid growth of blockchain adoption.
Cloud-based blockchain solutions offer remote accessibility and
cost reductions, while AI, ML, and integration are used for
efficiency. These combined advancements in blockchain cater to
organizations' demands for scalable, cost-effective, and efficient
security solutions, driving significant expansion in the Blockchain
Market.
Browse in-depth TOC on "Blockchain Market"
632 - Tables
62 - Figures
444 - Pages
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90100890
Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2018-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD
Billion)
|
Segments
Covered
|
Component, Provider,
Type, Deployment Mode, Organization Size, Vertical, And
Region
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Companies
covered
|
Major vendors in the
global Blockchain Market AWS (US), Oracle (US), IBM (US), Huawei
(China), Accenture (Ireland), TCS (India), Google (US), Alibaba
(China), Microsoft (US), OVHcloud (France), SAP (Germany), and HPE
(US), Tencent (China), Wipro (India), Infosys (India), Lumen (US),
DigitalOcean (US), VMware (US), Applied Blockchain (UK), ConsenSys
(US), Akamai (US), Contabo (Germany), Leewayhertz (US), Vultr (US),
Cloudsigma (Switzerland), Mevspace (Poland), and Scaleway
(France)
|
Based on the components, platforms to accounts for the
highest market size during the forecast period.
The blockchain platform is a decentralized solution
used for tracking, documenting, and facilitating transactions.
Financial transactions were the initial application of blockchain
platforms. But now days, it may be used in many different sectors,
such supply chain management and e-commerce. These software
programs offer the foundation required to develop apps that depend
on any form of transaction. Software programs known as blockchain
platforms let companies create blockchain-based apps. The use of a
distributed, immutable ledger to record activities, resource
movements, and transactions over a network is known as blockchain
technology. Businesses can employ a blockchain-based ledger system
for any application where transactions are necessary. The
blockchain platform operates as a development platform with an
integrated distributed ledger-which is an encrypted storage space
for all kinds of data. The integrated data is then used to help
develop consensus mechanisms that are used to validate and approve
transaction.
Request Sample
Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=90100890
By vertical, banking and financial services accounts for
the highest market size during the forecast period.
Blockchain technology transforms the financial industry by
creating a decentralized database of distinct and
digital assets. It is simpler to transfer assets using tokens that
represent the assets "off-chain" when a distributed ledger is used.
Blockchain technology has several advantages for banking, one of
which is the creation of tokenized security, which can completely
do away with middlemen and reduce asset exchange costs. The
application space for banking and financial services has recognized
the value of blockchain technology, which aid in the security of
consumer transactions. In addition, new business models in payment,
online banking, and financial transaction technologies are being
made possible by the technological shift from centralized
infrastructure management to the distributed ecosystem.
By region, North America
accounts for the highest market size.
North America is now the
leading region in the global Blockchain Market due to its abundance
of blockchain suppliers. Due to the presence of economically robust
nations like the US and Canada,
the region offers the most substantial and cutting-edge
technological infrastructure. North
America is one of the main geographic contributors to the
global Blockchain Market, even when it comes to market size. One of
the main factors driving the Blockchain Market's growth in
North America is the existence of
major regional players like IBM, AWS, and others. Businesses in
this area are creating blockchain-based solutions to improve
customer service. Government agencies are investigating blockchain
technology on a number of fronts, including protocols, security
assurances, cryptographic techniques, use cases, applications, and
current services (National Institute of Standards and Technology,
NIST). The study's conclusions have been documented in academic
articles, experimentation software, and suggestions for next NIST
projects in this field. Blockchain technology is not limited to
manufacturing supply chains; it can also be applied to data
registries, digital identities, and record management systems.
Inquire Before
Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=90100890
Top Companies in Blockchain Market:
Key Players AWS (US), Oracle (US), IBM (US), Huawei (China), Accenture (Ireland), TCS (India), Google (US), Alibaba (China), Microsoft (US), OVHcloud
(France), SAP (Germany), and HPE (US), T Tencent (China), Wipro (India), Infosys (India), Lumen (US), DigitalOcean (US), VMware
(US), Applied Blockchain (UK), ConsenSys (US), Akamai (US), Contabo
(Germany), Leewayhertz (US), Vultr
(US), Cloudsigma (Switzerland),
Mevspace (Poland), and Scaleway
(France) are the key players and
other players in the Blockchain Market.
Browse Adjacent Markets: Software
and Services Market Research Reports &
Consulting
Related Reports:
3D Digital Asset Market- Global Forecast to
2029
Embedded Finance Market - Global Forecast to
2029
Smart Learning Market - Global Forecast to
2029
eGRC Market - Global Forecast to 2029
Insolvency Software Market - Global Forecast to
2028
Get access to the latest updates on Blockchain
Companies and Blockchain Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or
follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/blockchain-market-worth-248-9-billion-by-2029---exclusive-report-by-marketsandmarkets-302195622.html
SOURCE MarketsandMarkets