The global blockchain technology market is accounted to register a CAGR of 67.54% during the forecast period and is estimated to reach USD 137.8 Billion by 2030.

Blockchain Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Blockchain Technology Market Information by Service Provider, Organization Size, Application, End Users, and Region – Forecast till 2030”, the Blockchain Technology Market could thrive at a rate of 67.54% between 2022 and 2030. The market size will be reaching around USD 137.8 Billion by the end of the year 2030

Blockchain Market Scope:

Blockchain refers to an immutable, shared ledger that enables tracking assets and recording transactions in a business network. The growing focus on the decentralization of data ledgers and information has caused a rise in the growth of the blockchain technology market.

The market simplifies the susceptibilities of the database functions by making transparent interactions.

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Market Competitive Landscape:

The global market for blockchain technology has prominent leaders such as:

• BitFury Group Ltd
• Digital Asset Holdings, LLC
• Microsoft Corporation
• Chain Inc
• IBM Corporation
• Abra, Inc
• Coinbase
• Deloitte Touche Tohmatsu Limited
• Blockchain Tech LTD
• Ripple Labs Inc
• Earthport Plc

Market Segmentation:By service provider, the blockchain technology market is segmented into infrastructure and protocol provider, middleware provider, application and solution provider, and others.By organization size, the large enterprise segment will lead the market over the forecast period. Large enterprises operating in sectors like supply chain, healthcare, financial services, and insurance are using blockchain technology for improving their efficiency in operations.By application, the payments will dominate the market over the forecast period.By end users, the BFSI segment will spearhead the market over the forecast period.

Financial services use blockchain technology to manage financial transactions taking place in businesses. 

Market USP Exclusively Encompassed:

The global market for blockchain technology has registered a massive surge in the growth rate in the last few years. The market’s growth is primarily attributed to the rising demand for digital identity across the globe.

Furthermore, the growing adoption of blockchain technology-based identification platforms across several countries worldwide is another crucial parameter projected to boost the market’s growth over the forecasted timeframe.

In addition, the increasing capitalization of market-related cryptocurrencies is anticipated to catalyze the market’s growth over the coming years.

On the other hand, the sophisticated integration procedure associated with blockchain technology may impede the market’s growth. Furthermore, the lack of technical teams across several regions worldwide is likely to restrain the market’s growth.

Regional AnalysisNorth America to Head Blockchain Technology MarketNorth America will head the market over the forecast period. Faster adoption of highly innovative technologies in the developed nations like Canada and the US, the growing adoption of blockchain technology among verticals such as retail, government, BFSI, among others for smart contacts, digital identity detection, payment and wallet solutions, the increasing adoption of blockchain technology by organizations in the region, the presence of a large number of players, early adoption of blockchain technologies by the organizations, the emergence of several blockchain technology providers, and adoption of technology to develop business applications are adding to the global blockchain technology market growth in the region.

Browse In-depth Market Research Report (123 Pages) on Blockchain Technology Market: 
www.marketresearchfuture.com/reports…arket-1708