"The
Report Global Blockchain Technology Market 2017-2021 provides
information on pricing, market analysis, shares, forecast, and
company profiles for key industry participants. -
MarketResearchReports.biz"
MarketResearchReports.biz has
announced the addition of a report, titled “Global
Blockchain Technology Market
2017-2021,” to its database. The report encompasses all the
important parameters of the market, including its dynamics,
competitive scenario, and geographical segmentation. According to the
report, the global blockchain technology is estimated to register a
phenomenal CAGR of 56% between 2017 and 2021.
Blockchain technology (BT)
supports the existence of cryptocurrency. Therefore, the growing
investments in financial technologies (FinTech) are providing a
significant momentum to the global BT market. FinTech companies are
allocating sizeable funds for the development of new and innovative
payment solutions. The increasing trend of digitization is paving way
for digital wallets, which in turn is leading to the greater
implementation of BT. Moreover, the disintermediation of banking
services is augmenting the market.
The rising concerns regarding
network privacy and security are, however, hampering the growth of
the market. In addition, the existing technology has issues with
system configuration, which induces skepticism among end users and
thus, limits its widespread adoption. Furthermore, the lack of
awareness regarding this technology is negatively impacting the
growth of the market.
On the other hand, the advent
of artificial intelligence (AI) and continuous advancements in
technology are likely to create tremendous growth opportunities for
the global BT market. AI enables investors to be better informed
while making a decision about their financial plans and customers to
have easy access to comparative information. The increasing
implementation of IoT is also expected to augur well for the growth
of the market in the near future.
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On the basis of end user, the
global blockchain technology is divided into supply chain management,
BFSI, and healthcare. BFSI will continue to account for the lion’s
share in the market until 2021. The soaring need to manage digital
transactions, insurance policies, and claims is driving the demand
for blockchain technology across the BFSI sector.
Geographically, the market is
segmented into Asia Pacific, Americas, and Europe, the Middle East,
and Africa (EMEA). The Americas will be the frontrunner in the market
throughout the forecast period. The growth of the segment can be
attributed to the burgeoning demand for cloud-based blockchain
technology and increasing number of mergers between BT service
providers and banking firms.
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http://www.marketresearchreports.biz/pressrelease/4083
The low availability of
suppliers makes it difficult for companies operating in the global
blockchain technology market to provide competitive costs to end
users. In such a scenario, to gain a competitive edge, players are
constantly focusing towards the development of new and advanced
technologies. The leading players in the market are Accenture,
Microsoft, and IBM. Other prominent companies operating in the global
blockchain technology market are Axoni, BTL Group, BlockCypher,
ConsenSys, Ethereum, Global Arena Holding, Provenance, Ripple,
Slock.it, Scorechain, and TATA Consultancy Services.
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