The global blockchain technology market is estimated to surpass $16 billion by 2024, according to a recent report from market research firm Global Market Insights, Inc.The reportIn a Sept. 20 press release, Global Market Insights provided highlights from its 180-page-long report entitled "Blockchain Technology Market By Providers, Application, End-Use, Regional Outlook, Competitive Market Share & Forecast 2024.".
Per the analysis, the key factor contributing to the global blockchain tech market growth will primarily be increasing adoption of blockchain by financial companies.
Financial organizations will purportedly take up blockchain due to its ability to boost the efficiency of companies' internal processes and cut the cost of operation in sectors such as trade finance, documentation and Know Your Customer.
Stakeholder segmentation of the blockchain marketA stakeholder segmentation of the blockchain market shows that application providers will see an 85% compound annual growth rate between 2018 and 2024, while digital identity application will purportedly register an over 90% CAGR throughout the same period.
The latter will find its driver in the attempt to resist cyberattacks.
The report further states that the government segment of the blockchain market is expected to grow by 85% CAGR over the forecast period, and the market's share from healthcare applications will register an 85% CAGR up to 2024 as well.
Earlier in September, Global Market Insights released a report that dove deeper into the blockchain tech in healthcare market, projecting that it will exceed $1.6 billion by 2025.
Examination of medical outcomes, interoperability of health data and cost component reductions will further impact blockchain adoption, according to the assessment.
Tech market advisory firm ABI Research published its findings regarding global revenues from blockchain technology, in late August, the firm suggested that global revenues for blockchain tech are expected to hit $10 billion by 2023.
Report: Global Blockchain Tech Market to Surpass $16B by 2024
Publicado en Sep 21, 2019
by Cointele | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.