Block Chain Market Overview
Blockchain refers to continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. A blockchain is inherently resistant to modification of the data. Moreover, block chain is the digital and decentralized ledger technology that records all transactions without the need for a financial intermediary like a bank.
Market Size and Forecast
Global blockchain market is anticipated to grow at a considerable CAGR of around 70% over the forecast period, i.e. 2017-2024. Further the global blockchain market is likely to grow on the basis of the real estate vertical, which is expected to grow at the highest rate during the forecast period. In the regional market, North America is anticipated to dominate the overall market of blockchain market during the forecast period. Further, the region contributed to the leading share in terms of revenue on account of high acceptance of blockchain technology due to its transparency and immutability.
Europe blockchain market is expected to expand due to the representative shares in the global blockchain market over the forecast period. Global blockchain market is profitable market in the region of Asia Pacific over the forecast period. Factors, such as increasing investments and great involvement of industries are likely to be the major drivers for Asia Pacific blockchain market over the forecast period. Moreover, China is predicted to contribute significantly towards the growth of Asia Pacific blockchain market over the forecast period.
Our in-depth analysis has segmented global blockchain market into the following segments:
By End User
The global block chain market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factors such as crypto volatility with cryptocurrencies are emerging which may significantly increase the growth of blockchain market over the forecast period. The global market of block chain permits applicants to authenticate and review transactions. Further, blockchain based transactions can be completed in faster way, more safely, and economically than conventional transaction systems.
Moreover, the global blockchain market is expected to expand on the back of growing real estate vertical across the globe. In addition blockchain based transactions of value can be completed in faster way, more safely, and economically than conventional transaction systems.
However, the blockchain is that it allows transactions to be stored on a public ledger, which can also be its biggest weakness. The publicly accessible ledger means privacy becomes an issue for confidential transactions, something that has slowed the incorporation of the block chain in some industry segments. Apart from this, scalability is some of the key factors which are expected to limit the growth of global blockchain market in upcoming years.
Scope and Context
Overview of the Parent Market
The global block chain market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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