Meticulous Research®– a leading global market research company published a research report titled “Blockchain Market by Industry Vertical (BFSI, Government, Healthcare, Retail & E-commerce, Transportation & Logistics) Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity) and Geography-Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global blockchain market is expected to grow at a CAGR of 74.1% from 2018 to reach $28,248.7 million by 2025. Increasing Adoption of BaaS, growing number of merchants accepting cryptocurrency, and growing interest in blockchain among financial institutions are the key factors driving the growth of the global blockchain market. However, regulatory uncertainty; limited scalability; security, privacy & lack of awareness are hindering the growth of the market.
The global blockchain market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2025 by -industry vertical BFSI, government, healthcare & life sciences, media & entertainment, retail & e-commerce, travel & hospitality, transportation & logistics, real estate, and IT) application (payments, exchanges, smart contracts, documentation, digital identity, supply chain management, governance risk & compliance management). The study also evaluates industry competitors and analyzes the market at regional and country level.
Browse in-depth Report on:https://www.meticulousresearch.com/product/blockchain-market/9/
On the basis of application, the payments segment accounted for the largest share of the global blockchain market. This segment is expected to grow at a CAGR of 72.2% during the forecast period, driven by rising need to transfer funds directly and securely to anyone and growing demand to reduce cost of transactions.
On the basis of vertical, Banking, Financial Services and Insurance (BFSI) accounted for the largest share of the global blockchain market. The rising need to simplify financial transactions, increasing demand to counteract fraud, and growing interest of companies to adopt blockchain are the major factors contributing in market growth.
This research report analyzes major geographies and provides comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of blockchain market in 2017. North America is a home to various global technology companies, which makes it a dominating market throughout the world. In addition, there is greater adoption of blockchain banks, financial institutes, transport & logistics, and healthcare industries in this region.
The major players operating in the global blockchain market are Amazon (U.S.), IBM (U.S.), Microsoft (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Earthport (U.K.), Coinbase (U.S.) Bitfury Group (Netherlands), BTL Group (Canada), and Digital Asset Holdings (U.S.) among others.
Key questions answered in the report-
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