Blockchain Services Global Market is estimated to grow at 58% rate
Blockchain Services Global Market Report 2022 – Market Size, Trends and Global Forecast 2022-2026
Business Research Company’s Blockchain Services Global Market Report 2022 – Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, United Kingdom, Oct. 27, 2022 /EINPresswire.com/ — According to The Business Research Company’s “Blockchain Services Global Market Report 2022”, the blockchain services market size is forecast to reach a value of $2.94 billion in 2021 to $4.65 billion in 2022 at a compound annual growth rate (CAGR) of 58.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, increases in commodity prices and supply chain disruptions, affecting many markets worldwide. Blockchain services market growth is expected to reach $35.3 billion by 2026 at a CAGR of 66.0%. It is a growing importance. of blockchain services with increased investments in blockchain technology from both public and private entities such as banks and financial institutions.
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Key trends in the blockchain services market
Quantum computing is becoming increasingly popular in the blockchain space which will help overcome the problems of providing blockchain services. Quantum computing is a process that uses quantum mechanical phenomena such as superposition and quantum entanglement for computing. Quantum computing uses qubits that help in storing and processing a large amount of data exponentially fast with less energy consumption, unlike conventional computers that use bits for the same process.
Blockchain Services Market Overview
The market for blockchain services consists of the sale of blockchain services and related products. For companies engaged in building blockchain applications, blockchain-as-a-service acts as a third-party service that creates and manages cloud-based networks, which is a growing field of blockchain technology. The revenue generated by the blockchain services market is through the sale of blockchain services by platform providers and service providers for use in identity management, payments, smart contracts, supply chain management and others.
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The Blockchain Services Global Market Report 2022 from TBRC covers the following information:
Market size data
• Forecast period: Historical and future
• By region: Asia Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Blockchain Services Market Segmentation
• By component: Tools, services
• By End Use: BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Logistics, Government, Media & Entertainment, Energy & Utilities, Others
• By application: payments, smart contracts, supply chain management, governance, risk and compliance management, identity management, other
• By Geography: The global blockchain services market is segmented into North America, South America, Asia Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as IBM Corporation, Amazon.com, Microsoft Corporation, Oracle Corporation, SAP, Stratis, Baidu, Inc., Huawei Technologies Co. Ltd., Accenture, Deloitte, Infosys.
Trends, opportunities, strategies and much more.
Blockchain Services Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides global blockchain services market analysis, an overview of the global market for blockchain services. The market report analyzes Blockchain Services global market size, Blockchain Services global market growth drivers, Global Blockchain Services global market segments, major players in the world Blockchain Services market, Blockchain Services market growth across geographies, and Blockchain Services market competitors’ revenue and market positioning. The Blockchain Services market report allows you to gain insight into opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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About The Business Research Company?
The Business Research Company has published over 3,000 industry reports, covering over 3,000 market segments and 60 geographies. The reports are based on 150,000 data sets, extensive secondary research and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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