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Blockchain Technology Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2026

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Blockchain Technology Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2026

April 21
13:22 2020
Blockchain Technology Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2026

Blockchain Technology Market
WiseGuyReports.Com Publish a New Market Research Report On –“ Blockchain Technology Market Enabling Technologies, Applications, Standardization, Key Trends Forecasts 2026”.

 

Blockchain Technology Industry 2019

Description:-

The global blockchain technology market is anticipated to reach USD 16.82 billion by 2026. Also termed as Distributed Ledger Technology (DLT), blockchain enables secure transaction over a distributed network. Since the transactions are taken place usually over the network, it is difficult to reverse the transaction history. Blockchain also eliminates the need of third-party verifications since the ledgers are shared by all the parties over the distributed network. These are some of the major factors for adoption of blockchain technology.

 

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Blockchain technology is currently being adopted majorly by the financial institutions due to its benefits such as reduced infrastructural costs for reconciling statements, data management settlements etc. It has also been proven beneficial to increase the transactional speed by eliminating the need of trusted third party. Bitcoin uses cryptography for securing its ledgers, thus ensures high security platform for the transactions.

Adoption of blockchain is not limited to the financial sector, however it is being implemented across different verticals. For example, with blockchain’s extended support for Internet of Things (IoT), the technology and telecom vertical is implementing blockchain for initiating a better coordination between different devices. This sector is also benefitting from blockchain because of its feature to eliminate the processing fees which gets levied by third parties. Healthcare vertical is also focusing on blockchain for securing its important and sensitive data and documents and for securing its digital assets.

The adoption of blockchain can be clearly seen in the North America followed by Europe at a fast pace. However, the market for blockchain is gaining traction in Asia Pacific region owing to the developing economies such as India and China adopting this technology. Countries such as Australia have already adopted this technology and are developing a private blockchain for its stock exchange’s clearing and settlement process.

Key Findings from the study suggest the largest share of this market in 2017 was of North America, as there are a fundamentally high number of ventures adopting the blockchain technology. The technology will have the capacity to help IoT applications in technology and telecom sector along with the enhanced payment solutions. The healthcare segment will adopt this this technology owing to secure their sensitive information. Asia Pacific market is anticipated to grow at a faster pace because of its changing financial framework which drives the demand for secure and low-cost online payment transfers. Speculations have been that more companies would invest in this technology, thus tapping the huge potential in this market. Companies such as Chain Inc., Ripple, Eric Industries, Microsoft, Circle Internet Financial Limited, R3, Samsung, Deloitte, IBM, Deloitte, Linux Foundation, BTL Group, are some of the prominent players in this market.

 

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Table Of Content – Major key Points

1. Overview and Scope 

2. Executive Summary 

3. Blockchain technology Market Insights 

4. Blockchain Technology Market Size and Forecast by Application Type 

5. Blockchain Technology Market Size and Forecast by Organization Size 

6. Blockchain Technology Market Size and Forecast by End-Use Type 

7. Blockchain technology Market Size and Forecast by Regions 

8. Company Profiles 

Continued……

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