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Blockchain Technology Market Worth 2,312.5 Million USD by 2021


According to a new market research report "Blockchain Technology Market by Provider, Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Clearing and Settlement), Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the Blockchain Technology Market is estimated to grow from USD 210.2 Million in 2016 to USD 2,312.5 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 61.5%.






Browse 67 market data tables and 45 figures spread through 153 pages and in-depth TOC on "Blockchain Technology Market - Global Forecast to 2021"
Early buyers will receive 10% customization on this report.

The major forces driving the Blockchain Technology Market are transparency & immutability, and reduced total cost of ownership. The Blockchain Technology Market is growing rapidly because of the high adoption of this distributed ledger technology across various applications such as payments, smart contracts, exchanges, digital identities, and documentation.

Application and solution provider to grow at the highest CAGR from 2016 to 2021

Application and solution provider segment is expected to witness the highest CAGR in the global Blockchain Technology Market during the period 2016-2021. Application and solutions are used to accelerate the different business processes such as payments, documentation, transactions, and others deployed by organizations for efficient business operations.

Banking, Financial Services, and Insurance (BFSI) vertical to have the largest market size in 2016

The Blockchain Technology Market is also segmented into various industry verticals, out of which, the Banking, Financial Services, and Insurance (BFSI) sector is expected to dominate the market with the largest market share as the need for banking and financial transactions has evolved from traditional payments systems to be seamlessly integrated into new systems. Moreover, the media and entertainment vertical is estimated to grow at the highest rate, followed by healthcare and life sciences.

North America is expected to dominate the Blockchain Technology Market in 2016

North America is expected to hold the largest share of the Blockchain Technology Market in 2016 due to the technological advancements and early adoption of blockchain technology in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The major driving forces for this growth are transparency, immutability & scalability, and huge opportunities across industry verticals in APAC countries, especially India, Australia, and China.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, business expansions, and product developments, adopted by major players to increase their market share. Some of the major technology vendors include Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), and Earthport (U.K.).

About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
marketsandmarkets.com

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