A blockchain, previously called block chain, is a system where data is stored in a series of time-stamped records. It is managed and distributed by a cluster of computer systems. The key reason for the growth of the blockchain market is its open nature. The blockchain technology is not owned or managed by a single entity. In simple terms, there is no governing central authority that regulates the blockchain technology. It is open to all and that’s what makes it more useful in industries like finance and other highly sensitive areas.
The democratized system stores data in immutable ledgers which means the information is open to everyone to see. Since technology is being widely used in a large number of industries, experts have coined many new terms for different stages of development. As far as the key benefits of the pillars of blockchain technology are concerned, they are transparency, decentralization, and immutability. In its initial days, blockchain technology was used majorly for Bitcoin, a cryptocurrency. Later, a large number of tech companies have introduced their own cryptocurrencies based on blockchain technology.
The global market of blockchain is expected to grow at a higher CAGR than before. A report based on the worldwide blockchain market predicts the future of the market after analyzing the past developments, the performance of key market players, current industry trends, and input from industry experts and analysts. The report breaks down the market into different segments based on products and applications, and it also provides a blockchain market forecast from 2019 to 2024 by analyzing the industry growth in different regions as well as the revenue and sales.
Key Players
Microsoft Corporation
IBM Corporation
Deloitte Touche Tohmatsu Limited
Ripple
BTL Group Ltd.
Earthport
Chain, Inc.
Abra, Inc
BitFury
Global Arena Holding, Inc.
DigitalX Ltd.
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Market Segmentation
A large number of companies nowadays use blockchain technology. In terms of industries, from real estate to banking, healthcare to advertising and retail, many are using blockchain these days. To define, understand and analyze this market, analysts have broken down the key market areas into segments based on product types and applications. On the basis of product types, there are three sub-segments that include Public Blockchain, Private Blockchain, and Consortium Blockchain. Another segment, which is based on the application type, includes Financial Services and Non-financial Sector. The report covers these segments in-depth and also predicts the future trends for the blockchain technology based on the market segments.
Regional Overview
The widespread use of blockchain in financial and non-financial sectors has encouraged a large number of companies to invest more in the technology. In its initial days, companies in China, North America, and Japan were among the most active ones using blockchain technology. Many currencies were introduced when Bitcoin became a hit. Soon, a large part of the world realized the potential of the technology and now it has marked its presence in many regions. The global blockchain market report 2019 covers North America which includes countries like the United States, Canada, and Mexico. It also covers the Asia-Pacific region where China, India, Japan, Korea, and Southeast Asia are the major players. In the European market, the report covers France, the UK, Italy, Germany, and Russia. The report also covers South America and the MEA region.
Industry News
Alibaba and Bayer have joined hands to give a technological boost to the agriculture industry. The Crop Science Division of the former and the payment Affiliate Ant Financial of the latter have signed a letter that says the companies will utilize blockchain technology to improve the income of farmers and will ensure increased efficiency and high-quality food production in agriculture.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Market Analysis by Regions
5 North America by Country
6 Europe by Country
7 Asia-Pacific by Country
8 South America by Country
9 Middle East and Africa by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Market Forecast (2019-2024)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
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