LONDON, Dec. 19, 2022 (GLOBE NEWSWIRE) — Get a limited time discount of 33% on our uniquely designed opportunity and strategy market research reports. Contact us today and create winning strategies!
According to The Business Research Company’s research on the blockchain distributed ledger market, an increase in investments in private blockchain distributed ledger technology worldwide is expected to drive the growth of the blockchain distributed ledger market going forward. A blockchain distributed ledger is a digital ledger database of all transactions used in financial services spread across a number of nodes, computers, organizations or nations, and is accessible and controlled by one or more businesses worldwide. The private blockchain distributed ledger technology offers advantages such as blockchain access permission, complete data transaction privacy, centralized process, less energy, reduced transaction costs and data redundancies, simplified document management and getting rid of semi-manual compliance mechanisms. For example, in June 2022, Binance Labs, a UK-based venture capital firm, invested $500 million in funds for blockchain, Web3.0 startups and value-creating technologies. The investment is intended for initiatives to promote the adoption of blockchain technologies and expand the use of cryptocurrencies. Therefore, an increase in investments in private blockchain distributed ledger technology is driving the growth of the blockchain distributed ledger industry.
Ask for a sample of the global blockchain distributed ledger market report
The global blockchain distributed finance market size is expected to grow from $5.43 billion in 2021 to $8.84 billion in 2022 with a compound annual growth rate (CAGR) of 63.0%. 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, which have affected many markets around the world. The blockchain distributed ledger market share is expected to reach $62.21 billion in 2026 on a CAGR of 62.9%.
Technological development is a key trend gaining popularity in the blockchain distributed ledger market. Major market players are concentrating their efforts on implementing Internet of Things (IoT) and technologically advanced solutions in various end-use industries that help increase transparency and reduce costs by removing processing costs. For example, in February 2020, Hedera, a US-based developer of blockchain-alternative consensus data structures, developed a distributed ledger technology based on the Hedera Hashgraph consensus algorithm that provides organizations worldwide with the accessibility benefits of an open public network as well as the technological the possibilities to safely provide huge volumes of faster and cheaper transactions.
Major players in the blockchain distributed ledger market are AlphaPoint, Amazon Web Services Inc., Auxesis Services And Technologies Ltd., Digital Asset Holdings LLC, Earthport, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, iXledger, NTT DATA Corporation, Accenture PLC, Eris Industries, Huawei Technologies Co. Ltd., Visa Inc., Microsoft Corporation, Chain Inc. and Blockchain Tech Ltd.
The global blockchain distributed ledger market is segmented by type into private blockchain, public blockchain; by component to solution, service; by application to payments, smart contracts, supply chain management, compliance management, trade finance, other applications; of end-use industries into BFSI, public sector and public sector, manufacturing, retail and e-commerce, media and entertainment, transport and logistics, healthcare, energy and utilities.
North America will be largest region in the blockchain distributed ledger market in 2021. Asia-Pacific expected to be the fastest growing region in the blockchain distributed ledger market during the forecast period. The regions covered in this Blockchain Distributed Ledger market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Blockchain Distributed Ledger Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides blockchain distributed ledger market forecast for size and growth, blockchain distributed ledger market segments, blockchain distributed ledger market trends, blockchain distributed ledger drivers and restraints, market leading competitors’ revenue, profiles and blockchain distributed ledger market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 1,500,000 data sets, extensive secondary research and exclusive insights from interviews with industry leaders.
Not the market you’re looking for? Check out some similar market intelligence reports:
Blockchain in Banking and Finance Market 2022 – by Type (Public Blockchain, Private Blockchain, Others), by Application (Fund Transaction Management, Real-Time Loan Financing, Liquidity Management, Others) and by Region, Opportunities and Strategies and by Region, Opportunities and Strategies – global forecast to 2031
Blockchain Technologies Global Market Report 2022 – By Type (Public, Private, Hybrid), By Provider (Application Providers, Middleware Providers, Infrastructure Providers), By End User (Financial Services, Consumer or Industrial Electronics, Technology, Media & Telecom, Healthcare), Transportation, public sector), by application (payments, exchanges, smart contracts, documentation, digital identity, supply chain management, governance, risk and compliance management) – Market size, trends and global forecast 2022-2026
Blockchain AI Global Market Report 2022 – By Technology (Computer Vision, Machine Learning (ML), Natural Language Processing (NLP)), By Vertical (BFSI, Telecom & IT, Healthcare and Life Science, Manufacturing, Media & Environment, Automotive), By Application (Smart Contract, Payment, Data Security, Logistics & Supply Chain Management, Business Process Optimization) – Market Size, Trends and Global Forecast 2022-2026
Interested in knowing more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market and consumer research. Located globally, it has specialist consultants in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.
The world’s most comprehensive database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The global market model covers data sets in multiple layers that help users assess gaps between supply and demand.
