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The Blockchain Industry: 2016-2020 Analysis and 2021-2026 Forecasts Featuring Developments & Strategies of IBM, Accenture, DSC Technology, Infosys, and MoreDUBLIN, Sept. 20, 2021 /PRNewswire/ -- The "Global Blockchain Market (2021 Edition) - Analysis by Type (Public, Private, Hybrid), Application, End-user, Region, and Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)" report has been added to ResearchAndMarkets.com's offering. The Global Blockchain Market, valued at US$3.02 Billion in the year 2020, has been witnessing unprecedented growth in the last few years on the back of rising demand of cryptocurrency and growing digitalization. The COVID-19 pandemic has accelerated the digital transformation in many areas because of supply chain disruptions, lockdowns and many physical restrictions, with the usage of blockchain technology. The market growth of blockchain will also be facilitated by replacements of blockchain projects as most of them have ignored basic features of the technology. Also, with the pandemic brining into focus the required changes in the blockchain technology, the market will witness major growth in the near future. Additionally, rising adoption of distributed ledger technology (DLT) systems, increasing adoption of e-commerce will drive the Blockchain Market value in the near future. The pandemic has significantly pushed the demand for blockchain distributed ledger in several industries such as BFSI, manufacturing, retail & e-commerce and healthcare. In addition to this, as businesses across the globe are reopening, many organizations are shifting their focus towards blockchain distributed ledgers for advanced security features for their customersto reduce the risk of cyber-attacks. Segment Highlights Among Types in the Blockchain Market (Public blockchain, Private Blockchain, Hybrid blockchain), Public Blockchain is large segment globally and is expected to grow steadily in the forecast period. The advantages of public blockchain and easy accessibility for users will drive the market. Among Applications of the Blockchain Market (Digital Identity, Payments, Smart Contract, Supply Chain Management, Others), Payments holds large share in market globally and is expected to keep growing in the forecast period. It is one of the largest applications of Blockchain Market due to the growing demand of E-commerce and the advantages of blockchain in payments will keep driving the market in future. Among End-users of the Blockchain Market (BFSI, Payments, Industrial Products and Manufacturing, Energy and Utility, Government, Others), BFSI holds large share in market globally and is expected to keep growing in the forecast period. It is one of the largest sectors of Blockchain Market due to the high demand of e-financial services among young population and growing adoption of blockchain security in BFSI will keep driving the market in future. Scope of the Report
For more information about this report visit https://www.researchandmarkets.com/r/ejdcms Media Contact: Research and Markets SOURCE Research and Markets |