Blockchain in Government Market 2022 – 2028: High demand for transparency and decentralized governance
Market Size – USD 189.2 Million in 2018, Market Growth – CAGR of 81.0%
NEW YORK CITY, NEW YORK, USA, Aug. 3, 2022 /EINPresswire.com/ — The global blockchain public market is forecast to reach $22.03 billion by 2026, according to a new report from Reports and Data. Blockchain brings digital technology into real-time management of data systems. The market has the ability to change aspects of digital technology, which include the way we do business, improve education, deliver healthcare, shopping, learning, social media and entertainment.
Blockchain technology in the public sector uses the services to build transparent, open and collaborative networks. The technology is a potential tool for improving public services and stimulating more transparent relations between authorities and citizens. The technology works dramatically to optimize the business process through secure and more efficient data sharing.
There are many possible applications of blockchain in the public market. Through this technology, governments can eliminate bureaucracy, reduce waste, prevent tax fraud and improve the way they deliver services. Digital cash transactions can help transform the financial transactions between the government and citizens.
The growing concern of corruption and bureaucracy can be eliminated by the use of blockchain in government. Distrust of government services to effectively solve problems and provide services to citizens is a baseline of public perceptions. Blockchain in government creates a trustless environment for regulatory activities, and efforts are being made to combat slow, expensive multi-step processes that require multiple intermediaries.
In June 2018, EUIPO and the European Commission organized a “Blockathon” competition in Brussels, where 11 teams of programmers created a series of anti-counterfeiting blockchain solutions, with the support of legal, IP and anti-counterfeiting specialists.
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Top 10 profiled in the Blockchain in Government Market Report:
• IBM
• SAP
• Oracle
• Microsoft
• Accenture
• Infosys
• AWS
• Deloitte
• Intel
• Ripple
Market Segmentation:
Vendor Outlook (Revenue, USD Billion; 2016-2026)
• Application providers
• Middleware providers
• Infrastructure providers
Application Outlook (Revenue, USD Billion; 2016-2026)
• Payments
• Voting
• Smart contracts
• Asset register
• Identity management
• Second
Type Outlook (Revenue, billion USD; 2016-2026)
• Public blockchain
• Private blockchain
• Consortium Blockchain
• Hybrid blockchain
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Key takeaways from the blockchain in government market report:
• A comprehensive overview of the global Blockchain in Government Market.
• Accurate market forecasts in terms of market size, share and volume.
• Thorough study of the global market dynamics, such as key drivers of market revenue growth, opportunities, threats, challenges, restraints, and future growth paths.
• Deep dive analysis of upcoming market trends.
• Qualitative and quantitative analyzes of Blockchain in the government market.
• Elaborate study of the leading regional markets in the Blockchain in Government Market.
• Complete overview of the market’s competitive landscape.
• Brief look at company profiles and portfolios.
Key regional markets covered in the report:
• North America
o the United States
o Canada
o Mexico
• Europe
o Russia
o Great Britain
o Germany
o France
o BENELUX
o The rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific
• Latin America
o Brazil
o The rest of Latin America
• The Middle East and Africa
o Saudi Arabia
o UAE
o Israel
o The rest of the Middle East and Africa
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About reports and data
Reports and Data is a market research and consulting company that offers syndicated research reports, custom research reports and consulting services. Our solutions focus exclusively on your purpose to locate, target and analyze changes in consumer behavior across demographics, across industries and help customers make smarter business decisions. We provide market intelligence studies that ensure relevant and fact-based research across a range of industries, including healthcare, technology, chemicals, power and energy. We continuously update our research offerings to ensure that our customers are aware of the latest trends in the market. Reports and data has a strong base of experienced analysts from various areas of expertise.
Tushar Rajput
Reports and data
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