Blockchain Distributed Ledger Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Description

Global Blockchain Distributed Ledger Market: Overview

A distributed ledger is a database that is consistently synchronized and shared on multiple sites, geographies, or institutions and is accessible to several people. At every node of the network, the participants can easily access the recordings that have been shared through the network and can also possess a similar copy of it. Blockchain is one of the types of distributed ledger compromised of immutable, digitally recorded data that is stored in the packages known as blocks. It uses cryptography that makes it difficult for the malicious user to manipulate the results as per his needs.

Global Blockchain Distributed Ledger Market: Growth Factors

The growing importance of smart contracts & digital ledgers in the commercial as well as the industrial sector and the growing trend of digitalization are the major factors that are propelling the growth of the global blockchain distributed ledger market. Nowadays, cryptocurrency is been gaining huge popularity. It is also known as digital money that can be transferred online without approaching any mediators such as banks. Distributed ledgers support such systems of payment for digital money in a decentralized mode. It also allows tracking financial transactions and trading the value through digital currency. For such a process, the blockchain distributed ledger offers enhanced security. Also, digital technology is been rapidly adopted to conduct financial transactions. All these factors are augmenting the growth of the global market. Moreover, the potential of the blockchain distributed ledger to connect multiple devices and the rise in the number of consumers especially in the healthcare IT sector are also some of the key aspects that are boosting the growth of the global market. Furthermore, the increase in financial development programs across the countries may fuel the growth of the global blockchain distributed ledger market during the forecast period. However, uncertain regulatory status, lack of knowledge, and lack of awareness regarding the key benefits of the blockchain distributed ledger may lead to a decrease in the adoption of this technology which in turn will restrain the growth of the blockchain distributed ledger market.

The entire world is facing multifaceted challenges evolved due to the Covid-19 pandemic. Blockchain technology has a vital role in the healthcare sector as it provides enhanced clinical trial data management by reducing the deferments in the regulatory approvals. Several aspects of blockchain technology such as immutability decentralization and transparency may aid to control the spread of the disease by fast-tracking drug delivery and early detection of the pandemic. It also has the potential to protect the user’s privacy at the time of treatment. Moreover, the blockchain distributor ledger is tamper-proof owing to its cryptographic technology. Thus, owing to all these factors, the healthcare sector is adopting blockchain distributed ledger thereby contributing to the growth of the global blockchain distributed ledger market.

Global Blockchain Distributed Ledger Market: Segmentation

The global blockchain distributed ledger market is divided into type, application, end-use, and region. Based on the type, the global blockchain distributed ledger market is split into private, public, and hybrid. The application segment is classified into exchanges, supply chain management, payments, digital identity, smart contracts, and others. Based on the end-use, the global market is bifurcated into healthcare, transportation & logistics, media & entertainment, financial services, retail, government, and others.

Global Blockchain Distributed Ledger Market: Regional Analysis

North America is estimated to lead the global blockchain distributed ledger market during the forecast period. This is due to the presence of major players and the growing adoption of blockchain technology in retail & e-commerce, healthcare, and the BFSI sector. Moreover, there is a rise in blockchain startups which are contributing to the growth of the global market in this region. Europe holds the second position in the global market owing to the rising acceptance of blockchain technology attributed to its immutability and transparency. On the other hand, Asia Pacific region is expected to grow at the highest CAGR due to the growing trend of digitalization and development in online payment services.

Global Blockchain Distributed Ledger Market: Competitive Players

IBM Corporation, Blockchain Tech Ltd., Chain Inc., Digital Asset Holdings, Eris Industries, Earthport, Accenture PLC, Deloitte, Intel Corporation, and Microsoft Corporation are some of the key players in the global blockchain distributed ledger market.

Global Blockchain Distributed Ledger Market: Regional Segment Analysis

• 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

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.

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