Blockchain Technology Market size was valued at USD 12.2 Bn. in 2022 and the total revenue is expected to grow by 82.2% from 2023 to 2029, reaching nearly 814.29 Bn.

Blockchain Technology Market Overview:

The purpose of this study is to provide a thorough examination of the Blockchain Technology market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Blockchain Technology market's growth. The study also offers a comprehensive analysis of the market's value chain.

Market Scope:

The research method used to assess and anticipate the Blockchain Technology market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Blockchain Technology market was calculated using the revenue of significant enterprises.

Drivers:

Due to a number of important factors, the blockchain technology market has seen substantial growth and adoption. First and foremost, industries looking to improve data integrity and defend against cyber attacks have shown tremendous interest in blockchain's intrinsic security features, such as immutability and decentralised consensus. Additionally, organisations are exploring blockchain's potential to streamline supply chain management, reduce fraud, and boost customer trust due to the growing desire for transparent and reliable solutions.

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Segmentation:

By Type

Public, private, and hybrid clouds make up the three segments of the blockchain technology market. In 2022, the Public Cloud market segment had the most market share (58.17%). Multiple clients use the same processing resources in a multi-tenant system referred to as a public cloud blockchain. Many governments today are fusing cloud technologies with conventional systems all across the world.

By Application
Digital Identity, Exchanges, Payments, Smart Contracts, Supply Chain Management, and Others are the market segments for blockchain technology. In 2022, the Payments segment commanded the largest market share, and it is anticipated that this dominance would persist throughout the projection period.
Payment systems become more efficient thanks to blockchain technology, which also reduces expenses of operation and enhances transparency.

By Industries

Financial Services, Government, Healthcare, Media & Entertainment, Retail, Transportation & Logistics, Travel, and Others are the different market segments for blockchain technology. In 2022, the market share that the segment of Financial Services accounted for was 34.8%. Financial services employ blockchain technology to control business financial transactions.The potential of blockchain technology to execute secure and quick transactions is what is driving its demand in the financial services sector.

1 Global Blockchain Technology Market, by Type (2022-2029)
• Public Cloud
• Private Cloud
• Hybrid Cloud

2 Global Blockchain Technology Market, by Power Output (2022-2029)
• Application & Solution
• Infrastructure & Protocols
• Middleware

2 Global Blockchain Technology Market, by Industries (2022-2029)
• Financial Services
• Government
• Healthcare
• Media & Entertainment
• Retail
• Transportation & Logistics
• Travel
• Others

3 Global Blockchain Technology Market, by Application (2022-2029)
• Digital Identity
• Exchanges
• Payments
• Smart Contracts
• Supply Chain Management
• Others

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Key Players:

The major players covered in the Blockchain Technology market report are

1. IBM (US)
2. AWS(US)
3. Microsoft(US)
4. Intel(US)
5. BlockCypher(US)
6. RecordsKeeper(US)
7. BlockPoint(US)
8. AlphaPoint(US)
9. Factom(US)
10. SpinSys(US)
11. BTL Group(US)
12. iXLedger(US)
13. ConsenSys(US)
14. Symbiont(US)
15. Digital Asset Holdings(US)
16. Oracle(US)
17. SAP (Germany)
18. Bitfury(Netherlands)
19. Cegeka(Belgium)
20. Earthport (UK)
21. Applied Block chain(UK)
22. Auxesis Group(UK)
23. Guardtime (Switzerland)
24. Chain (China)
25. Huawei(China)
26. BigchainDB(Germany)
27. Block chain Foundry(Canada)
28. NTT Data (Japan)
29. Infosys(India)
30. Stratis(Hungary)

Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Blockchain Technology Market:

Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Blockchain Technology market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Blockchain Technology industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.

Key Questions Answered in the Blockchain Technology Market Report are:

Which segment grabbed the largest share in the Blockchain Technology market?
How was the competitive scenario of the Blockchain Technology market in 2020?
Which are the key factors responsible for the Blockchain Technology market growth?
Which region held the maximum share in the Blockchain Technology market in 2020?
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