The global blockchain market is expected to decline from $2.45 billion in 2019 to $2.27 billion in 2020 at a rate of -7.27%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that eventually led to a slowdown in the economy. The market is then expected to recover and grow very rapidly to reach $15.88 billion in 2023 at a whopping rate of 91.25%.
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The blockchain market consists of sales of blockchain technology by the entities that develop this technology. Blockchain is a decentralized ledger or a database that records the data of the organizations in many databases which is called a block over a network called chain connected in peer to peer version referred to as node.
Global Blockchain Market Segmentation –
The Blockchain market covered in this report is segmented
By Type Into Private; Public; Hybrid
By Provider Into Application; Middleware; Infrastructure
By Application Into BFSI; Telecom & IT; Government.
Global Blockchain Market Driver –
The growing demand for blockchain technology in industries and the public sector is expected to drive the growth of the market. Blockchain has been the base for cryptocurrencies since it is a decentralized database; therefore, it has found its most important use in financial services for making the digital transactions safe, secure, and transparent.
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A Few Points From The Global Blockchain Market ToC
1. Executive Summary
2. Blockchain Market Characteristics
3. Blockchain Market Size And Growth
3.1. Global Blockchain Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Blockchain Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Blockchain Market Segmentation
5. Blockchain Market Regional And Country Analysis
5.1. Global Blockchain Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Blockchain Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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