The Blockchain technology is mainly designed to enable the maintenance of a permission less distributed databases which consists of a growing list of data records that preserves the integrity, singularity and validity of the stored information, without involving any trusted third party for verification purposes. It has potential to protect the identities of the user that make Blockchain a more secure way to carry out transaction. With the modernization in every sector especially by digitalization of currency; Blockchain technology has penetrated deeply into all the industries verticals. The various industry verticals that use Blockchain technology include banking financial services & insurance (BFSI), information and communication, healthcare, logistics, supply chain & transportation, e-commerce and retail and others. Bitcoin-based payroll service can save both money and time while, transferring money internationally. The technology would provide digitally permanent, audit-able records that show stakeholders the state of the product at each value-added step. The Blockchain technology is therefore expected to acquire exponential growth. However, Lack of awareness about the blockchain technology is the major restraint in the overall growth of the market
The report incorporates the distinct analysis of the Blockchain market on the basis of the product and services such as exchanging, trading and investment. When segmented by provider type Blockchain market is segmented into infrastructure & protocol provider. Based on industry verticals of Blockchain technology, market is segregated by retail, financial services, healthcare, chemicals and others. The market has also been segmented on the basis of type such as public, private, consortium and other Blockchain. The market has also been studied on the basis of geography that includes a detailed study of the key economies across each region such as Americas, Asia-Pacific, Europe and others. The report also contains a detailed analysis of financials, strategy, products, and recent developments of the leading companies in the Blockchain market.
North America is the dominating region for global Blockchain market. The region comprises of well-established end-user industries which are increasingly employing Blockchain technology for payments, digital identities, smart contracts and documentation. Thus it is the leading end-user market for Blockchain technology. North America is followed by Europe and Asia-Pacific region. This is due to increasing interest about Blockchain technology among the citizens, businesses and legislators across the European Union.
Sample Companies profiled in this report are:
- Microsoft Corporation (U.S.),
- IBM Corporation (U.S.),
- Deloitte Touche Tohmatsu Limited (U.S.),
- Ripple (U.S.),
- BTL Group Ltd. (Canada),