It has become the enabling technology for BFSI sector as banks . Furthermore, an increasing number of government initiatives for adopting blockchain technology and devices are expected to offer lucrative . It is also known as distributed ledger.Growing interests in securing the online financial transactions continues to impel the market. Blockchain Technology Market. The major players cover in this report are: Accenture, Deloitte, Financial . This study. North America and Europe are expected to collectively account for around 76.2% of the market share in 2020, with the former constituting around 41.1% share. Kenneth Research, in its repository of market research reports, have recently added a report on Blockchain Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The cryptocurrency sector is still growing, attracting more investors aiming to leverage various benefits of the industry. They are more secure in comparison to systems that rely on human element since it may lead to data manipulation or damage. The report on the fintech blockchain market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. Market segmentation February 11, 2022 05:38 ET | Source: The . Online jobs site Hired told CNBC that average salary for blockchain developers is between . According to , the global Blockchain in supply chain market is expected to have a significant compounded annual growth rate of 87.0%, and reach a market size of USD 3,314.6 Mn by 2023. As per Zion Market Research study, The Global Blockchain Technology in Supply Chain Management Market was worth around USD 262.9 million in 2021 and is estimated to grow to about USD 3153.7 . Sample Request. In 2018, the Illinois Blockchain Initiative (IBI) launched several pilots, including a birth registration pilot to develop secure identity solutions and a . Find the most up-to-date statistics and facts on Blockchain Skip to main content Try our corporate solution for free! Our experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies interspersed with relevant data. This report presents a comprehensive overview, market shares, and growth opportunities of Blockchain in the Healthcare market by product type, application, key players and key regions and countries. Worldwide spend on blockchain solutions is forecast to reach $17.9 billion by 2024 and will grow at a compound annual growth rate (CAGR) of 46.4%. 9,488. Development activity and steps like . The blockchain market growth is attributed to the growing trend of Initial Coin Offering (ICOs), which intended to raise funds from investors. The global blockchain technology market size was valued at USD 5.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 85.9% from 2022 to 2030. Market revenue growth is primarily driven by increasing need for transparency in supply chain and technology advancements in transactions along supply chain . It additionally sheds insight on the worldwide Blockchain industry's market segmentation. Blockchain technology is a tool with potential applications for organizations, which allow secure transactions without the need for a central authority. Blockchain is a digital, distributed ledger that records transactions and maintains identical copies of data on numerous systems owned by different entities. The market growth can be attributed to the increasing venture capital funding in blockchain technology companies. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative impact on demand across all regions amid . The skyrocketing demand for blockchain-related jobs has also translated into a significant salary bump. The Blockchain in Insurance Market size will touch USD 1.42 billion at a staggering 69.72% CAGR between the forecast period 2019- 2024, according to the new Market Research Future (MRFR) analysis . (PricewaterhouseCoopers, 2020) Popular Blockchain Companies The Blockchain market size is projected . This data point analysis depicts the worldwide Blockchain market's growth prospects. The blockchain market size is expected to grow from $4.93Bn in 2021 to $227.99Bn by 2028; it is estimated to grow at a CAGR of 72.9% from 2021 to 2028. The global blockchain market is growing at a considerable CAGR of around 56.1% during the forecast period. Europe is estimated to reach $2.42 billion by 2030 at a significant CAGR of 32.3%. The complete study for the Blockchain Enterprise Survey Market 2022 report presents you analysis of market size, share, growth, marketplace expanding, technological innovations, trends, cost structure, revenue, statistical and comprehensive data of the global market. However, few current applications limits the blockchain reconciliation, which hampers the growth of the blockchain technology market. The blockchain market is gaining phenomenal growth, due to a shift towards digital economy. For instance, in 2017, the initial coin offerings have raised more than USD 2 billion with over 250 ICOs across the globe. the major driving factors contributing to the high growth rate of blockchain market include an increasing venture capital funding and investment in blockchain technology, extensive use of blockchain solutions in banking and cybersecurity, high adoption of blockchain solutions for payment, smart contracts, and digital identities, and rising … This growth is attracting investors and creators both to benefit from blockchain technology. rency and FinTech, and C) market forecast of the blockchain, crypt ocurrency and FinTech. [441 Pages Report] The Blockchain market size is projected to grow from USD 4.9 billion in 2021 to USD 67.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 68.4% during the forecast period. Blockchain technologies offer capabilities that range from incremental improvements to radical alterations to business models. Blockchain stats for 2022 show that blockchain will become a mainstay across major industries. (Statista) The technology has spread to other sectors as well: manufacturing (17.6% of the market share), distribution and services (14.6%), public sector (4.2%), and infrastructure (3.1%). The global blockchain technology market size is expected to reach USD 1,431.54 billion by 2030, growing at a CAGR of 85.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The report segments the Blockchain Platforms market into several regions, including North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America. The blockchain market in healthcare was valued at USD 2.12 billion in 2020, and is expected to reach USD 3.49 billion by 2026, with a CAGR of 8.7% during the forecast period, 2021 - 2026. The global blockchain market was valued at $2.3 bn in 2016 and is forecast to grow at a modest CAGR of 28.0% between 2017 and 2024, culminating to global revenue of $16.3 bn by 2024. 3. In recent times due to the increase in the adoption of the . This token can be subsequently traded on cryptocurrency exchanges. For instance, another recent report from Future Market Insights forecasts that the Blockchain market is expected to grow at a 34.1 percent rate during the years 2022-2032, increasing from $4.9 . The MarketWatch News Department was not involved in the creation of this content. Market Analysis. the major driving factors contributing to the high growth rate of blockchain market include an increasing venture capital funding and investment in blockchain technology, extensive use of. The global blockchain supply chain market size reached USD 271 million in 2020 and is expected to reach USD 14,180 million in 2028 and register a CAGR of 63.9% during the forecast period. also explores new . Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Blockchain Market Report 2021 - Global Forecast to 2026" has been added to ResearchAndMarkets.com's offering. The main factor that drives the Blockchain in Energy Market growth is the development and upgrading of the technologies. "] [/vc_column] [/vc_row] [vc_row] [vc_column] [vc_paragraph text="That is why blockchain let us switch from the centralized network to a decentralized one which prevents consolidating the management of all data by one . This information is given by . The global blockchain supply chain market size reached USD 271 million in 2020 and is expected to reach USD 14,180 million in 2028 and register a CAGR of 63.9% during the forecast period. Blockchain AI Market Size, Share, Trends Analysis & Industry Growth Report, 2020-2027. The blockchain market size was USD 2.01 billion in 2019 and is projected to reach USD 69.04 billion by 2027, exhibiting a CAGR of 56.1% during the forecast period. Blockchain Market in the Insurance Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) The Blockchain Market in the Insurance Industry is segmented by Deployment (On-premise, Cloud-Based), Type (Public, Private), Application (GRC Management, Smart Contract, Identity Management & Fraud Detection), and Geography. Europe blockchain market value share 2021, by industry. Blockchain Technology Market size surpassed USD 488 million in 2018 and is predicted to grow at more than 69% CAGR between 2019 and 2025.. Get more details on this report - Request Free Sample PDF Blockchain technology is an emerging technology of distributed database, which records all the transactions & digital events executed & shared among numerous contributing parties. The Blockchain Security Software market has witnessed growth from USD million to USD million from 2017 to 2022. (IDC, 2020) Experts predict that blockchain will boost global GDP by $1.76 trillion by 2030, which is equivalent to 1.4% of global GDP. Automotive blockchain is used to keep track of data and stores it for the processes related to automobile. $2.1 billion: Global spending on blockchain solutions in 2018; 3x: The number of blockchain-related LinkedIn job postings more than tripled over the last year; 20$ Billion: Amount the global blockchain market is expected to be worth in 2024; 69%: Banks currently experimenting with Blockchain Technology The Global Blockchain Technology Market size is expected to reach $72 billion by 2027, rising at a market growth of 51.8% CAGR during the forecast period. Blockdaemon's easy-to-use node management platform can help ease the transition to the blockchain sector for new market players. Blockchain in Retail Market provides detailed market insights to help companies make better business decisions and drive growth plans based on forecast and market trends. Tools and techniques to compile comprehensive market studies interspersed with relevant data shared, immutable processes... 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