DUBLIN–(BUSINESS WIRE)–The “Blockchain Market Size, Share, Trends, By Component Type, By Type, By Vendor, By Organization Size, By Application, By End-Use and By Region Forecast to 2030” report has been added ResearchAndMarkets.com’s Offering.
The blockchain market size is expected to reach $550.68 billion by 2030 and register a revenue CAGR of 69.1% over the forecast period, according to the latest report.
The market is expected to observe significant growth due to the increasing demand for cryptocurrency and Bitcoin. Moreover, the growing adoption of blockchain in major industries such as healthcare, BFSI, retail and others is expected to contribute to the market growth during the forecast period.
Blockchain brings digital technology to the forefront of business. It allows for secure, decentralized record keeping and enables smart contracts. Unlike traditional databases, which are centralized and vulnerable to hacks, blockchains are distributed and immutable. This makes them ideal for handling sensitive data, such as financial transactions or personal information.
Blockchain in retail is used to process payments, manage inventory and supply chains. For example, IBM partnered with Walmart to use blockchain to track food supply chains and improve food safety. Retail giant Amazon is also developing a blockchain-based platform for its customers and suppliers. This will help the company improve data security and streamline operations. The adoption of blockchain by major retail companies is expected to spur the growth of the blockchain market in North America.
The adoption of blockchain technology is expected to grow at a rapid pace in the healthcare sector. Blockchain can be used to store and manage patient records, keep track of medical equipment and secure data from cyber attacks. Healthcare providers can use blockchain to improve operations and secure sensitive data. The growing use of blockchain in the healthcare sector is expected to boost the growth of the blockchain market in North America.
For the purpose of this report, the publisher has segmented the blockchain market based on vendor, application, organization size, end use, and region:
Component Type Outlook (Revenue, billion USD; 2019-2030)
Type Outlook (Revenue, billion USD; 2019-2030)
Supplier Outlook (Revenue, billion USD; 2019-2030)
-
Application providers
-
Middleware providers
-
Infrastructure providers
Outlook for Organization Size (Revenue, billion USD; 2019-2030)
-
Small and medium-sized enterprises
-
Large companies
Application Outlook (Revenue, USD Billion; 2019-2030)
-
Payments
-
Exchanges
-
Smart contracts
-
Documentation
-
Digital identity
-
Supply Chain Management
-
Second
End-Use Outlook (Revenue, USD Billion; 2019-2030)
-
The authorities
-
IT and telecommunications
-
Health Service
-
BFSI
-
Property
-
Retail and e-commerce
-
Media and entertainment
-
Transportation and logistics
-
Energy and utilities
-
Second
Regional Outlook (Revenue, billion USD; 2019-2030)
-
North America
-
US
-
Canada
-
Mexico
-
Europe
-
Germany
-
Great Britain
-
France
-
Italy
-
Spain
-
Sweden
-
BENELUX
-
The rest of Europe
-
Asia-Pacific
-
China
-
India
-
Japan
-
South Korea
-
Rest of APAC
-
Latin America
-
Brazil
-
The rest of LATAM
-
Middle East and Africa
-
Saudi Arabia
-
UAE
-
South Africa
-
Israel
-
The rest of the MEA
Market dynamics
Drivers
-
Increasing need for greater transparency and increased security
-
Increasing use of cryptocurrency worldwide
Limitations
-
Lack of skilled professionals
-
Storage capacity concerns
Companies mentioned
-
IBM Corporation
-
Accenture
-
Intel Corporation
-
Amazon Web Services Inc.
-
Oracle
-
Huawei Technologies Co. Ltd.
-
SAP SE
-
Blockchain Foundry Inc.
-
NTT DATA Corporation
-
Infosys Limited
-
BigchainDB GmbH
-
SpinSys
For more information on this report visit
