Blockchain Technology Market Research Report: By Service Provider (Application and Solution Provider, Middleware Provider, Infrastructure & Protocol Provider), By Organization Size ( Large Enterprise, Small and Medium Enterprise ), By Application ( Payment & Transaction, Smart Contract, Digital Identity, Documentation, Exchanges and Others), By End-Users ( Healthcare & Life Sciences, BFSI, IT & Telecommunication, Retail, Government , Travel & Hospitality , Real Estate & Construction, Others) and By Region – Global Forecast 2023
Market analysis

With the presentation of better advances, the blockchain innovation is developing as the ultimate answer in the technological world. It is a set of associated algorithms that are meant for storing, accessing, and distributing data. The developing accentuation on decentralization of information records has prompted the multiplication of the blockchain innovation. The technology encourages unchanging nature of database activities, making the interactions straightforward. Blockchain-based applications are picking up a snappy mileage, covering a few areas including healthcare, BFSI, and retail. There is gigantic market opportunity for the blockchain innovation. For blockchain technology, adaptability and security are the two essential concerns. However, few current applications limits the blockchain reconciliation, which hampers the growth of the blockchain technology market. The blockchain technology market is growing at a CAGR of 66.41% during the forecast period (2018-2025).

Market segmentation

The blockchain technology market on the basis of its service provider is segmented into Application and Solution Provider, Infrastructure & Protocol Provider, Middleware Provider. Based on its organization size, the market is bifurcated into small and medium enterprise and large enterprise. Based on its application, the market is classified as Payment & Transaction, Digital Identity, Smart Contract, Exchanges, Documentation, Others. On the basis of its end-user, the market is segmented as Healthcare & Life Sciences, IT & Telecommunication, BFSI, Travel & Hospitality, Retail, Real Estate & Construction, Government, Others.

Regional analysis

Geographically, the blockchain technology market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

Hewlett Packard, Enterprise Company, Deloitte Touche Tohmatsu Limited, IBM Corporation, Accenture PLC, Infosys Limited, Amazon Web Services, Inc., among others are the major players in the blockchain technology market.