The blockchain market size is expected to reach USD 550.68 Billion in 2030 and register a revenue CAGR of 69.1% over the forecast period, according to the latest report by Reports and Data. Surge in data and identity theft activities is driving blockchain market revenue growth. Blockchain has developed over the years and aids in conduction of financial transactions. Increase in cashless payments, credit and debit cards, and card-based payment methods are becoming quite common. Blockchain supports these changes by increasing transaction processing speed and providing greater efficiency in real-time processing.
Blockchain brings digital technology into real-time computing systems management. Blockchain can change aspects of digital technology, which includes the method of conducting business, enhancing education, delivering healthcare, shopping, learning, social media, and entertainment. Blockchain offers a sturdy environment for sharing data securely in real-time. The technology provides enhanced security to real-time digital economic process. Blockchain in retail industries is being used by companies such as Walmart and Visa. They are using blockchain to streamline supply chains, speed-up payments, and store records.
Blockchain is a technology that keeps record of any digital transaction made by users in multiple systems for decentralized storage of data. Digital economy has changed dramatically over the years with a rise in the value of cryptocurrencies, such as ‘Bitcoin’ increasing exponentially in last couple of years. Technology that supports cryptocurrency is known as the blockchain. It serves as an encrypted ledger to keep a track on cryptocurrency’s value and ownership. Blockchain significantly decreases cost by removing the “middleman” in digital marketing. In case of search engine marketing through blockchain, website owners can save cost by removing the need for Google or Facebook or any other intermediaries.
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Major players in the market include IBM Corporation, Microsoft Corporation, SAP, Oracle, Symbiont, Huawei, Blockpoint, BTL Group, Factom, and Earthport.
Some Key Highlights in the Report
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For the purpose of this report, Reports and Data has segmented blockchain market based on provider, application, organization size, end-use, and region:
Component Type Outlook (Revenue, USD Billion; 2019–2030)
Type Outlook (Revenue, USD Billion; 2019–2030)
Provider Outlook (Revenue, USD Billion; 2019–2030)
Organization Size Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
Regional Outlook (Revenue, USD Billion; 2019–2030)
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Key Advantages of Blockchain Report:
Conclusively, all aspects of the Blockchain market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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