Reports and Insights issued a report recently titled “Blockchain Assessment Market: Opportunity Analysis and Future Assessment 2022-2030” which examines and assesses the market’s status over the forecast period. It is a thorough investigation that focuses on elementary and secondary drivers, leading segments, market size and share, and geographical assessment. The study also provides a comprehensive evaluation at of the leading players, major partnerships and alliances, mergers, and acquisitions, along with the trending innovation and corporate strategies.
The global blockchain assessment market in 2022 is estimated for more than US$ 3.6 Bn and expected to reach a value of US$ 95.6 Bn by 2030 with a significant CAGR of 51.4%.
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Blockchain Assessment Introduction
Blockchain is a distributed public ledger of all transaction that have been executed and shared among participating parties. In this blockchain, transactions in the public ledger are verified by concerts of a majority of participants and once information entered can never be erased. Blockchain minimizes cost and delays for financial transactions of third-party intermediaries.
Blockchain technology also eliminates error-prone processes, manual, and information discharge. Fundamental functions of certain industries are mostly suited to blockchain solutions. Financial services, government, and healthcare sectors are capturing focus. Core functions of financial services are verifying financial information and assets closely align with blockchain’s transformative impact.
Blockchain can play an important role by solving major current pain points, mainly related to trade finance and cross-border payments which will decrease the major intermediaries and are geographically agnostic.
Blockchain Assessment Market Dynamics
Increasing adoption of blockchain technology in retail and supply chain management is driving growth of the blockchain assessment market. For instance, according to National Centre of Biotechnology Information in 2017, the interest on blockchain technology has been drastically increased since 2013. The cumulative number of papers is increased from 2 in 2013 to 41 in 2015.
In addition, blockchain technology helps to create transparency and immutability which in turn demand for blockchain technology in banking, internet of things, and cyber security is propelling growth of the target market.
Furthermore, increasing demand for smart contracting from various end users and secure databases for the maintenance of records are another one of the main factors augmenting growth of the blockchain assessment market globally.
Moreover, growing funding and investment in blockchain technology is expected to promote growth of the blockchain assessment market over the forecast period. Increasing adoption of blockchain technology for payments, smart contracts, and digital identities is expected to fuel the growth of blockchain assessment market. However, complex process for use of blockchain is expected to hamper growth of the global blockchain assessment market.
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Blockchain Assessment Market Segmentation
Blockchain Assessment Market is segmented on the basis of type, application, and by region.
By Type
Public
Private
Hybrid
By Application
Financial Services
Consumer or Industrial Products
Technology, Media, and Telecom
Healthcare
Transportation
Public Sector
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
Blockchain Assessment Market Competitive Landscape
Some of the key participating players in blockchain assessment market are
- International Business Machines Corporation
- Amazon Web Services, Inc.
- Microsoft Corporation
- SAP SE
- Intel Corporation
- Oracle Corporation
- Bitfury USA, Inc.
- Cegeka NV
- Earthport plc
- GuardTime AS
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