Blockchain Set to Grow at 73.1% CAGR by 2028

According to recent findings, the Global Blockchain Market is rapidly expanding and expects a whopping 73.1% CAGR during the forecast period, i.e., 2023-28.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

Blockchain Overview:

The most prominent factors contributing to the market growth are the ever-increasing need for operational efficiency, especially in banks other financial institutes, coupled with substantial investments in blockchain technology with the rising legalization of cryptocurrency. The consistently increasing venture-capital funding for blockchain start-up companies is notably contributing to the expansion of the global blockchain market.

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Blockchain Outlook and Market Driver :

Massive Venture Capital Investments due to Rapidly Rising Market Value of Cryptocurrencies - Cryptocurrencies incur lower transaction fees than other payment methods, as they are based on blockchain technology. As a result, many individuals businesses are increasingly adopting the technology for cross-border payments remittances since the latter involves high transaction costs. Moreover, since cryptocurrencies are immutable, regulatory authorities cannot impose any restrictions on cross-border transactions. All these aspects have resulted in a significant surge in the market value of cryptocurrencies, i.e., attracting massive venture capital funding in blockchain startups, which projects lucrative prospects for the Global Blockchain Market during 2023-28.

Global Blockchain Segmentation Analysis:

By Component

Services- Market Size Forecast 2018-2028F, USD Million
- Consultation- Market Size Forecast 2018-2028F, USD Million
- Development Integration- Market Size Forecast 2018-2028F, USD Million
- Support Maintenance- Market Size Forecast 2018-2028F, USD Million
Platform- Market Size Forecast 2018-2028F, USD Million

By Provider

Application Provider- Market Size Forecast 2018-2028F, USD Million
Infrastructure Provider- Market Size Forecast 2018-2028F, USD Million
Middleware Provider- Market Size Forecast 2018-2028F, USD Million

By Type

Private- Market Size Forecast 2018-2028F, USD Million
Public- Market Size Forecast 2018-2028F, USD Million
Hybrid- Market Size Forecast 2018-2028F, USD Million

By Organization

Small- Market Size Forecast 2018-2028F, USD Million
Medium- Market Size Forecast 2018-2028F, USD Million
Large- Market Size Forecast 2018-2028F, USD Million

By Application

Payment- Market Size Forecast 2018-2028F, USD Million
Documentation- Market Size Forecast 2018-2028F, USD Million
Exchanges- Market Size Forecast 2018-2028F, USD Million
Supply Chain Management- Market Size Forecast 2018-2028F, USD Million
Digital Identity- Market Size Forecast 2018-2028F, USD Million
Others (Advertising insights, Smart Contracts, etc.) - Market Size Forecast 2018-2028F, USD Million

According to reports,Amongst all applications, payments hold the biggest share in the Global Blockchain Market, and the same trend is expected during the forecast period, i.e., 2023-28.

By End User

BFSI- Market Size Forecast 2018-2028F, USD Million
Government- Market Size Forecast 2018-2028F, USD Million
Logistics- Market Size Forecast 2018-2028F, USD Million
Healthcare- Market Size Forecast 2018-2028F, USD Million
Energy Utilities- Market Size Forecast 2018-2028F, USD Million
Media Entertainment- Market Size Forecast 2018-2028F, USD Million
IT Telecom- Market Size Forecast 2018-2028F, USD Million
Retail E-commerce- Market Size Forecast 2018-2028F, USD Million
Others (Agriculture, Manufacturing, etc.)- Market Size Forecast 2018-2028F, USD Million

According to reports,Here, the BFSI (Banking, Financial Services, Insurance) sector is the largest end-user in the Global Blockchain Market, mainly due to its growing focus on minimizing frauds by eliminating the middlemen of finances.

By Region

North America
South America
Europe
Middle East Africa
Asia-Pacific.

According to reports, Amongst all regions, North America dominates the Blockchain Market globally.

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Some of the Market players in the Global Blockchain are:

IBM
Amazon Web Services, Inc.
Microsoft
SAP
Intel
Oracle
NTT Data
Accenture
Deloitte Touche Tohmatsu Limited
Consensys Systems
Huawei
Monax
Blockchain Tech LTD

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Key Highlights of the Report – Unlock Valuable Market Insights

Market Size, Share Future Projections – Understand the current market dimensions and forecasted growth trajectory.
In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
Company Strategies Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
Key Stakeholders Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
Import Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
Market Trends Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

Define objectives and research design
Collect data through surveys and interviews
Analyze and validate data using reliable tools
Forecast trends and deliver actionable insights

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