WESTFORD, Mass., April 24,
2024 /PRNewswire/ -- SkyQuest projects that the
Blockchain Market will attain a value of USD 1.3 trillion by 2031, with a CAGR of 80.8%
over the forecast period (2024-2031). Blockchain refers to a method
of recording information in a decentralized manner so
that it cannot be hacked or manipulated across a network. Growing
demand for decentralized finance around the world and
increasing focus on improving the security of digital transactions
are key factors driving the demand for blockchain over the coming
years.
Download a detailed overview:
https://www.skyquestt.com/report/blockchain-market
Browse in-depth TOC on "Blockchain Market"
- Pages - 157
- Tables - 148
- Figures – 78
Blockchain Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$8.76
billion
|
Estimated Value by
2031
|
$1.3
trillion
|
Growth Rate
|
Poised to grow at a
CAGR of 80.8%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Component, Type,
Application, Organization Size, End User, and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and the Rest of the world
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Use of blockchain in
cybersecurity and digital transactions
|
Key Market
Drivers
|
High demand for
decentralized finance (DeFi)
|
Large Enterprises to Dominate Adoption of Blockchain Due to
High Capital Expenditure
The majority of large enterprises are projected to adopt
Blockchain technologies and solutions in some or the other form.
These enterprises have high budgets and capital spending potential,
which helps them invest in the development of a novel Blockchain
platform and infrastructure for themselves, allowing this segment
to dominate the market.
SMEs Emerge as Fastest-growing Segment Owing to Rising
Awareness Regarding Blockchain Benefits
Small and medium enterprises (SMEs) are slated to witness the
fastest adoption of blockchain technologies and solutions in the
future. Increasing availability of cost-effective and scalable
blockchain solutions around the world is slated to promote
blockchain market growth via this segment. SMEs are also increasing
their competitiveness with the adoption of Blockchain
solutions.
Presence of Key Blockchain Tech Providers Allows North
America to Dominate the Market
North America is projected to
account for a substantial share of the global blockchain market
owing to the presence of key blockchain companies and the rapid
adoption of advanced technologies. Established IT infrastructure in
this region is also a major contributor to blockchain market growth
in this region. The United States
is estimated to lead blockchain adoption in North America going forward.
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Blockchain Market Insights:
Drivers
- Rising popularity of cryptocurrencies.
- Growing demand for decentralized finance
(DeFi).
- Increasing availability of enterprise Blockchain
solutions.
Restraints
- Regulatory uncertainty around Blockchain platforms and
technologies.
- Privacy and data security concerns associated with blockchain
solutions.
- High costs and complexity associated with blockchain
implementation.
Prominent Players in Blockchain Market
- IBM
- Microsoft
- Accenture
- Deloitte
- ConsenSys
- Chain
- R3
- Digital Asset Holdings
- Bitfury Group
- Intel
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/blockchain-market
Key Questions Answered in Blockchain Market Report
- Which key factors promote the adoption of blockchain?
- Who are the top blockchain companies to watch out for in the
global blockchain market?
- Which region accounts for the highest blockchain market
share?
- Which segment will bring in the most revenue for blockchain
companies?
This report provides the following insights:
- Analysis of key drivers (high demand for
decentralized finance, availability of enterprise
Blockchain solutions, growing demand for transparency in different
industry verticals, rising adoption of
cryptocurrencies), restraints (high costs of
implementation, complexity of integration, regulatory uncertainty,
data privacy and security concerns), and opportunities (rising
awareness regarding benefits of blockchain adoption, use of
blockchain in cybersecurity, use in digital transactions to reduce
transaction times), influencing the growth of blockchain
market.
- Market Penetration: All-inclusive analysis of product portfolio
of different market players and status of new product
launches.
- Product Development/Innovation: Elaborate assessment of R&D
activities, new product development, and upcoming trends of the
blockchain market.
- Market Development: Detailed analysis of potential regions
where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product
launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies,
revenue analysis, and product innovation by new and established
market players.
Related Reports:
Global Blockchain Technology in Healthcare Market
Global Blockchain In Manufacturing Market
Global Blockchain as a Service Market
Global Fintech Blockchain Market
Global Electronic Data Interchange (EDI) Software Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology