Global
Blockchain Market was valued at USD 357.7 million in the year
2017.
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Global Blockchain
market is further estimated to grow at a CAGR of 74.5% from 2018 to reach USD
10.10 Billion by the year 2023. North America region holds the highest market
share in 2017 and Asia-Pacific market is considered as the fastest growing
market in the forecasted period due to high adoption and acceptance of
blockchain technology. At country level U.S, Japan & China is projected to
grow strongly in the coming years.
Blockchain technology
enables registration of transactions in various computer systems in blocks of
time. These blocks of time and are all interconnected to form a chain and thus
the term Blockchain is derived. A block typically records transaction data for
a fixed time period or a fixed memory size. Blockchain transactions can be
completed in a faster, secure and more efficient way when compared with the traditional
systems. The blockchain data is not stored at a one particular point and can be
easily verified leading to increased transparency. The above features have led
to a rapid adoption of this technology in the financial segment which was
originally designed for digital currency.
JP Morgan Chase (U.S),
IBM Blockchain (US), Microsoft Blockchain (US), Chain, Inc. (US), Amazon AWS
(U.S) and Abra (US) are some of the key players in the Global Blockchain
market. Rising research and development expenses to cater changing demand of
end users, similarly growth strategies such as acquisition, merger and
expansion of the distribution network were few techniques adopted by most of
Tier 1 and Tier 2 manufacturers in recent years.
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In-depth
interviews were conducted with principal participants of the Global Blockchain Market,
C-level executive, market experts, consultants, and trend analysts. This is
paired with the extensive use of reliable secondary sources like company data
bases and directories. Then, functional disciplines like financial management
and logistics are identified to further market research. Analysts
also considered taking every factor that could be used to identify strengths,
opportunities, weaknesses, and threats of the Global Blockchain Market. These
factors include annual revenue, key segments, production capacity, and new
products. Industry
standards are also identified for market analysis. This done together with the
evaluation business practices within the market, understanding government’s
presence in the industry, identifying leverage of Global Smart Bottle
Market, studying commercial terms and conditions, and analyzing market
Report Includes:-
The
report cloaks the market analysis and projection of Global Blockchain Market on a regional as
well as global level. The report constitutes qualitative and quantitative
valuation by industry analysts, first-hand data, assistance from industry
experts along with their most recent verbatim and each industry manufacturers
via the market value chain. The research experts have additionally assessed the
in general sales and revenue generation of this particular market. In addition,
this report also delivers widespread analysis of root market trends, several
governing elements and macro-economic indicators, coupled with market
improvements as per every segment. Furthermore, the report contains diverse
profiles of primary market players of Global Blockchain Market.
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