PRN: Blockchain Market to Grow at a CAGR of 61.5% by 2021: BFSI Sector is Expected to Dominate the Market During the Forecast Period - Research and Markets

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Blockchain Market to Grow at a CAGR of 61.5% by 2021: BFSI Sector is Expected to Dominate the Market During the Forecast Period - Research and Markets

 
[07-June-2017]
 

DUBLIN, June 7, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Blockchain Market - Global Forecast to 2021" report to their offering.

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The Blockchain market size is expected to grow from USD 210.2 Million in 2016 to USD 2,312.5 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 61.5% during the forecast period. The major growth drivers of the Blockchain market are transparency & immutability, faster transactions, and reduced total cost of ownership.

The Blockchain market is segmented by provider, application, organization size, industry vertical, and region. The infrastructure and protocols provider segment is expected to dominate the Blockchain market during the forecast period, whereas the application and solution provider is projected to witness the highest growth rate due to the increased demand for fast processing applications for payments and transactions.

Payments application holds the largest share of the Blockchain market in 2016. The need for banking and financial transactions has evolved from traditional payments systems to be seamlessly integrated into new and always connected lifestyle which is fueling the growth of Blockchain-based payment solutions. The digital identity market is expected to grow at the highest rate as the Blockchain would make digital identities more secure and efficient, resulting in seamless sign-ons and will reduce identity frauds.

The Banking, Financial Services, and Insurance (BFSI) sector is expected to dominate the market with the largest market share during the forecast period, whereas the media and entertainment vertical is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of Blockchain across smart contracts, document management, and digital identities in the media industry.

Small and Medium Enterprises (SMEs) and large enterprises are rapidly deploying the Blockchain solutions. The demand for Blockchain solutions is increasing due to the cost-effective and time-efficient features; its growth is specifically high in SMEs, where low cost solutions are much required.

Companies Mentioned

  • 21, Inc.
  • Abra, Inc.
  • Alphaphoint
  • BTL Group (Blockchain Tech Ltd.)
  • Bitfury
  • Chain, Inc.
  • Circle Internet Financial Limited
  • Coinbase
  • Deloitte
  • Digital Asset Holdings
  • Digitalx Ltd. (Digital Cc Ltd.)
  • Earthport
  • Global Arena Holding, Inc. (GAHI)
  • IBM Corporation
  • Intelygenz
  • Microsoft Corporation
  • Ripple

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Blockchain Market Overview

6 Blockchain Market: Industry Trends

7 Blockchain Market Analysis, By Provider

8 Blockchain Market Analysis, By Application

9 Blockchain Market Analysis, By Organization Size

10 Blockchain Market Analysis, By Industry Vertical

11 Geographic Analysis

12 Competitive Landscape

13 Key Innovator Profiles

14 Appendix

For more information about this report visit http://www.researchandmarkets.com/research/twkp6b/blockchain_market

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Laura Wood, Senior Manager
press@researchandmarkets.com

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