Market Research Report
Global Blockchain Market, By Component, By Type, By Application, & By Region- Forecast and Analysis 2022-2028
|Global Blockchain Market, By Component, By Type, By Application, & By Region- Forecast and Analysis 2022-2028|
Published: May 9, 2022
SkyQuest Technology Consulting Pvt. Ltd.
Content info: 127 Pages
Delivery time: 1-2 business days
The Global Blockchain Market was valued at USD 4.56 Billion in 2021, and it is expected to reach a value of USD 117.77 Billion by 2028, at a CAGR of more than 59.12% over the forecast period (2022 - 2028). The global blockchain market is rapidly growing and is expected to continue to do so in the future years, due to the expanding number of innovations and consumer awareness of the benefits of employing blockchain technology is expected to propel the industry forward in the near future. The key aspects driving the growth of the global blockchain market include the adoption of blockchain technology across BFSI, healthcare, media and entertainment, and many others.
Wide acceptance of blockchain solutions for payment, digital identities, and smart contracts are also among some of the prospects that drive the industry growth during the forecast period. The increased venture capital investing in blockchain technology startups can also be attributed to the market's growth. Blockchain technology witnessed significant growth after the advent of Bitcoin, and it is now being used by various financial institutions for transactions. In the last two to three years, blockchain technology solutions have gained in popularity for a variety of commercial applications, including payments, exchanges, documentation, and many others. Many startups such as Blockpoint, Auxesis Group, Symbiont, SpinSys, Bitfury, Neufund, Fetch.AI, Confirm, Genomes, QubiTech, and CiveQ among others have entered the market and begun developing blockchain-based solutions
Top-down and bottom-up approaches were used to estimate and validate the size of the global blockchain market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Aspects covered in this report:
The global blockchain market is segmented on the basis of component, type and application. Based on the component, the market is segmented as platform and services. Based on the type, the market is segmented as public, private, and hybrid. Whereas, based on the applications, the market is segmented as Food & Agriculture, Transportation & Logistics, Manufacturing, Energy & Utilities, Healthcare & Life Sciences, Media & Entertainment, BFSI, Retail & E-Commerce, IT & Telecom, and Others.