Blockchain Technology Market Revenue Growth Forecast till 2025 | Government Initiatives to Fuel Demand, says Fortune Business Insights

The Blockchain Technology Market is showing a huge demand in banking and insurance sector which contribute up to 41% of global market. It is expected to reach US$ 21,070.2 Mn by the end of 2025 as per the latest report by Fortune Business Insights.

Pune, India - May 15, 2019 /MarketersMedia/ —

The Global Blockchain Technology Market is predicted to rise gradually in the coming years. The market is expected to witness high demand from diverse industries, especially the banking, financial services, and insurance (BFSI) industry, finds Fortune Business Insights in a report, titled “Blockchain Technology Market Size, Share and Global Trend by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment (Proof of Concept, Pilot, Production), Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Entertainment, Retail & Consumer Goods, Travel and Transportation), and Geography Forecast till 2025.”

As stated in the report, the Global Blockchain Technology Market will reach US$ 21,070.2 Mn by the end of 2025 as against US$ 1,640.7 Mn in 2017. If these figures hold true, the global market will rise at a remarkable CAGR of 38.4%.

Request Sample Copy at https://www.fortunebusinessinsights.com/enquiry/sample/blockchain-technology-market-100072

In terms of industry vertical, the banking, financial services, and insurance segment held the leading share of 41% in the global blockchain technology market in 2017. The segment will gain further impetus following the introduction of bitcoin. “Rampantly increasing cyber-attacks and frauds in the BFSI industry accounts for millions of dollars. This has become a global concern. To make the technology used in the industry safer and more secure, Deloitte and Microsoft Azure and other tech giants are offering blockchain services,” said a lead analyst.

In terms of deployment, the proof of concept segment is gaining traction and is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is backed by high need for transparent transactions across industries such as healthcare, retail and BFSI.

Increasing Demand for Secure Blockchain Technology to Guarantee Growth at Promising Rate.

Government initiated awareness programs regarding benefits of blockchain technology among undeveloped nations is anticipated to fuel the demand in the global blockchain technology market, said a lead analyst at Fortune Business Insights.

Increasing adoption of e-financial services and rapid adoption of the blockchain technology in developed nations are expected to drive the global blockchain technology market during the forecast period.

Increasing number of new blockchain products and their approval grants is also anticipated to act as a driving factor for the global Blockchain technology market.

Partnerships Among Key Market Players and Blockchain Developers Driving the Market in North America.

North America was leading in the global blockchain technology market in 2017. The North America market was worth US$ 820 Mn in 2017. The region will continue leading the market at a global level through the forecast period. Growth witnessed in the market is also attributable to recent collaborations between market players in the U.S. and blockchain service provides. Europe is also anticipated to witness impressive growth during the forecast period owing to the high presence of blockchain technology developers.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/blockchain-technology-market-100072

In 2017, IBM was the leading organization in the global Blockchain technology market. Other companies operating in the global market are Oracle Corporation, Deloitte, Microsoft Corporation, IBM Corporation, The Linux Foundation, Chain Inc., Consensus Systems, Bits, Inc (Tendermint, Inc.), Schvey, Inc. (Axoni), VironIT, Altoros, and Fintech & Blockchain Software House.

About us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Info:
Name: Fortune Business Insights
Email: Send Email
Organization: Fortune Business Insights
Address: Fortune Business Insights Pvt Ltd 308, Supreme Headquarters, Survey No 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India
Phone: +1 424 253 0390
Website: https://www.fortunebusinessinsights.com/

Source URL: https://marketersmedia.com/blockchain-technology-market-revenue-growth-forecast-till-2025-government-initiatives-to-fuel-demand-says-fortune-business-insights/512983

Source: MarketersMedia

Release ID: 512983

Latest News

Virtual reality helps police learn to interact with autistic

May 26, 2019

WASHINGTON — An autistic man walks out of a store without paying for a toy he picked up. He's followed by a storekeeper demanding he come back inside. The situation quickly escalates, and police are called. Officers arrive, their patrol car's lights flashing and sirens blaring, to find the man in the parking lot, yelling and not responding to their commands. They have a choice: confront the man and risk having the situation turn violent or regroup to figure out a different approach. The scenario is part of a virtual reality simulation for police that's being developed by Axon —...

Anti-groping smartphone app highly popular in Japan

May 26, 2019

TOKYO — A smartphone app developed by Japanese police is being widely downloaded by women trying to protect themselves from gropers on packed rush-hour trains. The "Digi Police" app was originally issued by Tokyo police three years ago, but a function to scare off molesters was only added a few months ago. Since then, the app has reportedly been downloaded hundreds of thousands of times — unusual for a government-developed mobile application. Women in crowded trains and other public places in Japan often face sexual harassment, but are typically too afraid to call out for help. With the app, victims...

Nonprofits turn to cryptocurrency to help needy Venezuelans

May 26, 2019

BARQUISIMETO, Venezuela — Andreina Cordero started the year skipping meals so her three kids could eat. Her husband, a construction worker, was out of a job. And the family's savings had been devastated by the nation's hyperinflation, limiting Cordero's children to a diet of rice, beans, pasta and fried corn patties. But the family got a break from their daily struggle to feed themselves this spring when a social worker enrolled them in a program run by a Silicon Valley startup that is donating cryptocurrency to hundreds of Venezuelan families. Every week from February to April, Cordero received a deposit...

Feds: DeVos used personal emails for work in 'limited' cases

May 26, 2019

Education Secretary Betsy DeVos has sometimes used her personal email accounts for government business and has not always properly saved the messages, according to an internal investigation released Monday. The agency's Office of Inspector General, which was investigating at the request of House Democrats, said it searched the department's email system and found a "limited" number of messages to or from DeVos' personal accounts. In total, it said there were "fewer than 100" emails linked to four personal accounts. Most of the emails were from the first six months of 2017, soon after DeVos took office, and most were from...

Meet the T. rex cousin who you could literally look down on

May 26, 2019

WASHINGTON — History's most frightening dinosaur, the Tyrannosaurus rex, came from a long line of pipsqueaks. Scientists have identified a new cousin of the T. rex as a dinosaur that only reached the 3-foot height of a toddler. If it stretched its duck-billed head, an adult human maybe "would be looking at it in the eye," said Sterling Nesbitt, a paleontologist at Virginia Tech, who discovered the dinosaur. Nesbitt found a set of its bones in 1998 when he was 16, while serving as a volunteer on a dig in New Mexico with a famed paleontologist. But for about two...

About Us

Science Thread delivers quality and fascinating science and technology content that matters on a daily basis and makes it go viral.

Contact us: sales@sciencethread.com