Blockchain In Security Market Increasing at A Phenomenal Pace to Reach 713 USD Million by 2028

04-Aug-2021 | Zion Market Research

Some of key players in Blockchain In Security market are IBM (US), AWS (US), Microsoft (US), SAP (Germany), Intel (US), Oracle (US), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (UK), Guardtime (US), Digital Asset Holdings (US), Chain (US), Huawei (China), BlockCypher (US), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (Gibraltar), BlockPoint (US), Auxesis Group (India), BTL Group (Canada), Blockchain Foundry (UK), NTT Data (Japan), Infosys (India), and Stratis (UK among others. These players are set to bolster the development of Blockchain In Security market.

According to analysts at Zion Market Research, the Blockchain In Security market accounted for USD 713 Million in 2020 and is expected to reach USD 16,225.7 Million by 2028, growing at a CAGR of more than 48.2 % from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Blockchain In Security Market By Component (Platform and Services), By Device Type (Private, Public and Hybrid), By Providers (Application ,Middleware, Infrastructure) and by Industry Type(Government, insurance, entertainment, automotive, retail, healthcare, education, manufacturing) : Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Streamlining of business processes cost effectively To Spur Growth

Global Blockchain in Security market is expected to grow from USD 713 million in 2020 to USD 16225.7 million by 2028, at a CAGR of 48.2% during the forecast period. It is due to the need for streamlining the business processes cost-effectively. The adoption of the Blockchain technology is currently in the experimentation phase in most of the segments however, the adoption rate is expected to increase significantly in the coming years, owing to the low infrastructure costs and transparency.

Presence of Big Players in The Region Support North America Dominance

North America accounted for a share of 35 % in 2020. The rising growth of healthcare and educational sectors are the key drivers. Consumer application sector is also estimated to grow fast in the region. Government in the region is also heavily investing in VR technology to boost the market.

North America is projected to hold the largest market size in the Blockchain market. Early adoption of Blockchain technologies by the organizations in the region and the emergence of several Blockchain technology providers will contribute to the overall share of the market. Businesses in UK and India have recognized the potential of the Blockchain technology in delivering enhanced customer experiences; hence, they have started adopting the technology to develop business applications.

Browse the full Blockchain In Security Market By Component (Platform and Services), By Device Type (Private, Public and Hybrid), By Providers (Application, Middleware, Infrastructure) and by Industry Type (Government, insurance, entertainment, automotive, retail, healthcare, education, manufacturing): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/blockchain-in-security-market

The Blockchain In Security market is segmented as follows:

By Component

  • Platform
  • Services

By Device Type

  • Private
  • Public
  • Hybrid

By Provider

  • Application Providers
  • Middleware Providers
  • Infrastructure Providers

By Industry Type

  • Transportation and Logistics
  • Agriculture and Food
  • Manufacturing
  • Government
  • IT and Telecom
  • Insurance
  • Retail
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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