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Blockchain Technologies Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | Riot Blockchain Inc., Ripple Labs Inc., R3 LLC, Bitfury Group Limited, Steemit Inc.
Blockchain Technologies Global Market
The blockchain technologies market size is expected to see exponential growth in the next few years. It will grow to $161.14 billion in 2028 at a compound annual growth rate (CAGR) of 53.1%. The growth in the forecast period can be attributed to decentralized finance (defi) growth, non-fungible tokens (nfts) and digital assets, blockchain in healthcare for data security, environmental, social, and governance (esg) considerations, integration with internet of things (iot). Major trends in the forecast period include blockchain in supply chain, government and institutional adoption, layer 2 scaling solutions, cross-industry collaborations, tokenization of assets.
Market Overview -
Blockchain is an immutable shared ledger that records online transactions, tracks assets, and builds trust in a business network.
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Government Support Propelling The Blockchain Technologies Market
The favorable government initiatives towards blockchain is expected to drive the blockchain technologies market. Governments of both advanced and developing economies are focusing on framing policies and frameworks for adopting blockchain. For example, in January 2023, The Indian Government, through launched a blockchain module in collaboration with 5ire an India-based blockchain platform and Network Capital a India-based mentorship and career exploration platform aiming to foster innovation and entrepreneurship in India. Therefore, favorable government initiatives are expected to boost the demand for blockchain technologies in the forecast period.
Competitive Landscape -
Major companies operating in the blockchain technologies market report are Microsoft Corporation, Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Infosys Limited, Coinbase Global Inc., Auxesis Group, Cegeka NV, Circle Internet Financial Limited, Celsius Network Ltd., Canaan Inc., BTL Group Ltd., Patron Technology Ltd., Riot Blockchain Inc., Ripple Labs Inc., R3 LLC, Bitfury Group Limited, Steemit Inc., Applied Blockchain Ltd., BlockCypher Inc., Blockpoint Inc., AlphaPoint Corp., Chain Inc., BigchainDB GmbH, TraDove Inc., Symbiont.io Inc., Blockchain Foundry Inc., Factom Inc., Menlo One Ltd., RecordsKeeper, Galaxy Digital Holdings Ltd., BlockFi Lending LLC, ConsenSys AG, MoonPay Limited, Lockheed Martin Corporation, Blockdaemon Corp.
Blockchain Integration In Cross-Border Securities Settlement Fujitsu's Impact
Blockchain is increasingly being implemented in many back-office processes at industries from traditional banking and insurance, extending its application to even food production and pharmaceutical industries. For instance, in June 2023, Fujitsu. a Japan-based multinational information and communications technology company, completed a successful year-long pilot project with the Asian Development Bank, a Philippines-based regional bank. The project aimed to enhance cross-border securities settlement in regions including ASEAN, Japan, China, and South Korea, showcasing the potential for streamlined and secure transaction processes. Fujitsu plans to introduce the ""Fujitsu Web3 Acceleration Platform,"" integrating ""ConnectionChain"" to enable secure connectivity across multiple economies and promoting the adoption of blockchain technology in various industries beyond finance, including distribution and manufacturing.
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Key Segments -
The blockchain technologies market covered in this report is segmented -
1) By Type: Public, Private, Hybrid
2) By Provider: Application Providers, Middleware Providers, Infrastructure Providers
3) By Application: Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, Governance, Risk And Compliance Management, Other Applications (Digital Voting And Content
Storage Management)
4) By End User: Financial Services, Consumer or Industrial Electronics, Technology, Media And Telecom, Healthcare, Transportation, Public Sector, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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