Blockchain Market is expected to reach US$ XX by 2026 from US$ 422.25 Mn in 2018 at a CAGR of XX %.

Reduced total cost of ownership, rising crypto currencies market cap and initial coin offerings are few major drivers that has positively driven overall growth of Blockchain Market. In addition to this, increasing demand for simplified business processes, transparency, immutability, faster transactions with reduced costs and increasing use of blockchain as a service also responsible for growth of global Blockchain Market.

Blockchain Market

Infrastructure and protocols provider sub-segment had the largest market size among providers and is expected to dominate market during forecast period however it is application and solution provider segment that is projected to grow at a higher CAGR during forecast period. Rise in demand for fast processing applications for payments and transactions are few key factors boosting the overall growth. Payments application sub-segment held the largest market share for 2017 with factors like increasing use in banking and financial transactions and growth of the digital identity market is expected to further boost demand for Blockchain Market globally. Banking, Financial Services, and Insurance (BFSI) sub-segment is projected to have the largest shares during forecast period, whereas it is the media and entertainment vertical that is projected to grow at the highest rate. Increasing use of blockchain across smart contracts, document management and digital identities in the media industry are some main areas that is propelling the overall growth of Blockchain Market. Large enterprises held the the maximum share while small and medium-sized enterprises (SMEs) accounted for the highest growth in Blockchain Market. Highly cost-effective and time-efficiency form two key features for blockchain application as well in both large and small enterprises.

North America formed the largest market with Asia pacific accounting for highest CAGR during forecast period. Increase in application of blockchain solutions across various industry verticals such as (BFSI), retail and eCommerce and real estate has helped in boosting the overall Blockchain Market demand.

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