{"id":264538,"date":"2018-09-13T08:35:08","date_gmt":"2018-09-13T08:35:08","guid":{"rendered":"http:\/\/www.abnewswire.com\/pressreleases\/?p=264538"},"modified":"2018-09-13T08:35:08","modified_gmt":"2018-09-13T08:35:08","slug":"blockchain-technology-market-size-is-likely-to-reach-a-valuation-of-759-billion-by-2024-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/blockchain-technology-market-size-is-likely-to-reach-a-valuation-of-759-billion-by-2024-grand-view-research-inc_264538.html","title":{"rendered":"Blockchain Technology Market Size Is Likely To Reach A Valuation Of $7.59 Billion By 2024: Grand View Research, Inc."},"content":{"rendered":"
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“Grand View Research, Inc. – Market Research And Consulting.”<\/div>\n<\/div>\n<\/div>\n
According to report published by Grand View Research, Inc., the global blockchain technology market size will reach USD 7.59 billion by 2024. Increasing demand for this technology across financial services, consumer or industrial products, technology, media and telecom, healthcare, transportation, and public sectors is largely responsible for market growth.<\/div>\n

The global blockchain technology market<\/a><\/strong> size is expected to reach USD 7.59 billion by 2024, according to a new report by Grand View Research, Inc., registering a 37.2% CAGR during the forecast period. Increasing demand for this technology across financial services, consumer or industrial products, technology, media and telecom, healthcare, transportation, and public sectors is largely responsible for market growth.<\/p>\n

Blockchain technology works as an electronic transaction-processing and record-keeping system. This allows various participants who are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification. Increasing online transactions, digitization of currency, and secure online payment gateways are few of the major factors expected to fuel demand over the coming years.<\/p>\n

The market is expected to exhibit significant growth owing to abundant benefits provided by this technology, such as eliminating need for any financial institution to authenticate transactions, eliminating reconciliation, reducing duplicative recordkeeping, facilitating faster settlement, and minimizing error rates. This technology allows access to databases from everywhere, thereby allowing multiple institutions to use it simultaneously to bring different systems nearer and help improve efficiency.<\/p>\n

Major growth drivers include growing interest of the BFSI sector and increasing merchants accepting cryptocurrencies. The probable opportunity of this technology further includes instant settlement of various financial transactions and achieving optimized settlement options for netting and clearing process.<\/p>\n

Full Research Report On <\/strong>Blockchain Technology Market <\/strong>Analysis:<\/strong> www.grandviewresearch.com\/industry-analysis\/blockchain-technology-market<\/a><\/strong><\/p>\n

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Further key findings from the report suggest:<\/span><\/strong><\/p>\n