Rising demand for real-time data analysis, visibility and proactive maintenance by DailyCoin

“Blockchain Market Report 2021 – Global Forecast to 2026” has been added. At ResearchAndMarkets.com offer.

The size of the blockchain market is projected to rise from $ 4.9 trillion in 2021 to $ 67.4 trillion by 2026, with a Compound Annual Growth Rate (CAGR) of 68.4%.

Key factors contributing to the high growth rate of the blockchain market include venture capital financing and increased investment in blockchain technology; widespread use of blockchain solutions in banking and cybersecurity; High adoption of blockchain solutions for payment, smart contracts, and digital identities; and rising government initiatives.

By components, the services segment recorded the highest growth rate in the forecast period

Depending on the components, the global blockchain market is segmented into platforms and services. The platform refers to an autonomous platform that cannot be further segmented. The market-leading Blockchain platform enables customers to configure private, public, and consortium-based blockchain environments and provide capabilities to develop their own blockchain applications and solutions.

These platforms enable people, products, applications, and services to work together in the blockchain network, cloud providers, and organizations. The service segment includes a variety of services required to deploy, execute, and maintain a blockchain platform in an organization, including technology consulting and consulting, development and integration, and support and maintenance.

It is expected that the platform segment will be well received in the planned period, as companies are expected to realize the many benefits that technology offers, including reducing the cost of the value chain, increasing security and allowing faster operations to be at the forefront of competitors. The services segment is expected to grow at a higher CAGR over the period.

The growth of the services segment will depend on the adoption of the blockchain platform in the market for the planned period. Services including technological advice and development, development and integration, and support and maintenance are a critical component of the deployment of the blockchain solution so that organizations can effectively use blockchain tools and effectively support their business operations.

Depending on the size of the organization, SMEs need to record the highest growth rate in the forecast period

The blockchain market is segmented by organization size into SMEs and large companies. These organizations are ranked according to the number of employees they work with and based on global standards. Companies of all sizes around the world are focusing on blockchain technology to revolutionize their traditional infrastructure systems and improve the customer experience.

Due to the growing need to improve business efficiency and maintain transparency in the business process, SMEs and large companies are taking advantage of advanced blockchain solutions for a variety of applications, such as smart contracts, payments, compliance management, supply chain management and loyalty. award management. .

Organizations with less than 1,000 employees are classified as SMEs. SMEs have a number of disadvantages, including high barriers to access and less protection from market conditions. The cost of operations is high due to the need for various intermediaries for interregional trade, which limits the growth of SMEs with limited resources. Blockchain can be an active technology in such scenarios, allowing a company to reduce its cost by eliminating these intermediaries.

Another area where SMEs can leverage blockchain technology in their day-to-day operations is manual or semi-automatic processes, including billing, inventory, and payroll. For example, smart contracts can be shown to be more cost-effective than the critical capability offered by blockchain solutions, and help SMEs to streamline their operations more efficiently and quickly.

Premium Insights

• Venture Capital Financing and Growth of Government Initiatives to Boost Blockchain Market Growth
• The platforms will be the Biggest Market in 2021
• Technological consulting and advisory services to increase the share in 2021
• Application providers on time for the larger market
• The hybrid segment will be larger during the forecast period
• Large companies will witness greater use of Blockchain within the planned timeframe
• Banking, Financial Services and Insurance to Blockchain Market Leadership Deadline
• Asia-Pacific will emerge as the best market for investment over the next five years

Market Dynamics

Drivers

• Venture Capital Financing and Increasing Investment in Blockchain Technology
• Increasing the need for Blockchain technology in retail and supply chain management for transparency and security in transactions
• Simplification of processes with Transparency, Security and immutability
• Lower operating costs

Restrictions

• Uncertain regulatory and compliance environment
• High costs of implementing Blockchain Technology

Options

• Rising government initiatives to increase demand for blockchain platforms and services
• Blockchain, IoT and Ai merge
• Extensive use of blockchain solutions in Banking and Cybersecurity
• High Adoption of Blockchain Solutions for Payments, Smart Contracts and Digital Identities
• Rising demand for real-time data analysis, improved visibility, and proactive maintenance
• The Potential of Blockchain Technology in New Industries

Challenges

• Security, privacy and control of blockchain transactions
• Limited availability of technical capabilities to implement blockchain technology
• Opposition from officials

Blockchain Regulations

Steps involved in implementing Blockchain Technology

Comparison of Centralized / Authorized and Decentralized / Unauthorized Blockchain

• Types of Blockchain Technology
• Private blockchain
• Public blockchain
• Allowed / Blockchain Hybrid

Value chain analysis

• Component / Hardware Suppliers
• Planning and Design
• Infrastructure and expansion
• Solution and Service Providers
• Integrating Systems
• Sales and Distribution Channels
• End users

Technology Analysis

• Blockchain and the Internet of Things
• Blockchain and Cloud
• Blockchain and Artificial Intelligence
• Blockchain and Supply Chain
• Big Data Analytics

Use cases

• The Smart Dubai Initiative uses Blockchain technology for smart transformation
• Id2020 Cooperation
• Blockchain Project Supply Chain and Inventory Management
• Approval of Blockchain Technology Resolutions by the Estonian Government
• Use of Blockchain for Smart Contracts
• IBM (NYSE 🙂 Linked to Walmart (NYSE 🙂 (US) to monitor Chinese pork and US mangoes to ensure food safety
• Blockchain, to know the fulfillment of your customers in retail
• Blockchain Technology for Automated Customer Service
• Blockchain Project Supply Chain and Inventory Management
• Case Study: Reducing Food Waste, Improving Food Safety and Traceability, and Supporting Online and Offline Consumers by Ibm
• Case 2: Oracle (NYSE 🙂 leverages innovative technologies such as Blockchain, Ai and IoT to transform supply chain operations in the shipbuilding industry
• Use Case 3: Blockchain Helps Rcs Global Trace Responsibly Produced Raw Materials by Ibm
• Use case 4: Carrefour (PA 🙂 Sa joined Ibm’s Blockchain-based Food Trust network
• Use Case 5: Virgin Diamond used Netobjex’s digital twin platform
• 6. Use Case: Curry & Company Joined Intel’s Blockchain-Based Integrated IoT Solution to Track Perishable Goods
• 7. Use Case: Bumble Bee Seafoods Collaborates with Sap to Track Fish Supply Chain in Indonesian Town
• 8. Use case: The Banking Group used Ibm’s Blockchain platform to facilitate Global Payments (NYSE 🙂
• Use Case 9: Saudi Customs used Blockchain technology for the pilot shipment
• Use case 10: Icici Bankua (NYSE 🙂 and Emirates Nbd partnered with Edgeverve Finacle to test first blockchain-based network
• Use Case 11: The Jordanian Investment Bank (Ajib) leverages the Oracle Blockchain platform for cross-border remittances

Blockchain Associations and Consortia

• Business Alliance
• Hyperledger Consortium
• Global Blockchain Business Council
• Blockchain Partnership Consortium
• R3Cev Blockchain Consortium
• Continuous Associated Settlement Group
• Global Payments Management Team
• Shenzhen Blockchain Financial Consortium
• With the library
• Wall Street Blockchain Alliance

These companies

• IBM
• Amazon (NASDAQ 🙂 Web Services
• Sap
• Intel (NASDAQ 🙂
• Oracle
• Huawei
• Accenture (NYSE 🙂
• Wipro (NYSE 🙂
• Bitfury
• Chain
• Encrypted block
• Guard time
• Cegeka
• The symbiote
• bigchaindb
• Blockchain applied
• Auxesis Group
• Spinsys
• Infosys (NYSE 🙂
• Ntt Data
• Fact
• R3
• Consensus
• Leewayhertz
• Initial Profiles
• Registration
• Layers
• Blockchain Casting
• Blockpoint
• Dragonchain

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