The Blockchain Technologies Market Is Estimated To Reach $71.93 Billion By 2027 At A CAGR Of 52.2% – Includes Blockchain Technologies Market Forecast
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
increasingly investing in blockchain technology due to its high efficiency in data management are expected to drive innovation in blockchain technologies manufacturing, thus driving the market during the forecast period.
The global blockchain technologies market is expected to grow from $8.61 billion in 2022 to $13.41 billion in 2023 at a compound annual growth rate (CAGR) of 55.8%. The blockchain technologies market is expected to grow from $71.93 billion in 2027 at a CAGR of 52.2%.
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- By Type: Public, Private, Hybrid
- By Provider: Application Providers, Middleware Providers, Infrastructure Providers
- By End User: Financial Services, Consumer or Industrial Electronics, Technology, Media And Telecom, Healthcare, Transportation, Public Sector, Other End-Users
- By Application: Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, Governance, Risk And Compliance Management, Other Applications (Digital Voting And Content Storage Management)
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global blockchain technologies market in 2021.
Major Market Players in the blockchain technologies market include IBM, AWS, Microsoft Corporations, Ripple, Circle Internet Financial Limited, R3, Patron, Steem, Chain, Celsius Network, Menlo One.
Blockchain is increasingly being implemented in many back-office processes at industries from traditional banking and insurance, extending its application to even food production and pharmaceutical industries. For instance, in 2020, Farmer Connect and IBM announced the introduction of a new consumer mobile application called “Thank My Farmer”. The new application is a traceability platform powered by IBM Blockchain to help increase traceability, efficiency and fairness in the coffee supply chain.
The Blockchain Technologies Global Market Report 2023 provides a blockchain technologies market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The blockchain technologies market forecast analyzes blockchain technologies market size, blockchain technologies market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Blockchain is an immutable shared ledger that records online transactions, tracks assets, and builds trust in a business network.
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