Product ID: SQMIG45E2230
Global Blockchain Market Size, Share, Growth Analysis, By Component(Platforms/software, Hardware), By Type(Public, Private), By Application(Supply Chain Management, Cryptocurrencies), By Organization Size(SMEs and Large Enterprises), By End-User(BFSI, Healthcare & Lifesciences) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2230 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
148 |
Figures:
78
Global Blockchain Market Regional Insights
The North American region leads the global blockchain market in terms of size, when considering the global market. This is mainly the effect of the high involvement of blockchain technology providers, the established IT infrastructure and the regulatory environment that is conducive for blockchain innovation and acceptance. Furthermore, North America is a melting pot of diverse industries, including finance, health care, retail, and supply chain, and these industries are actively investigating the ways that blockchain technology can improve efficiency, safety, and visibility in their respective operations. The area is also homegrown with a diverse make-up of blockchain start-ups, research institutions and venture capital funding thus speeding up the growth of the blockchain market in North America.
On the other hand, the fastest growing region of the global blockchain market is Asia Pacific. At the same time, among the critical driving forces behind the growth of APAC are the fast-paced economic development, digitalization, and development of a young population who are tech-savvy. For instance, China, Japan, South Korea, Singapore, and India are experiencing the expanding number of investments in the research and development of blockchain, as well as the implementation of the technology in the financial, logistics, healthcare, government services, and other fields. In addition, the governmental initiatives such as regulatory sandboxes and blockchain-friendly policies are also creating an enabling environment for the blockchain startups and enterprises to grow more in the region. This, in turn, is leading to a tremendous increase in the usage of blockchain across the Asia-Pacific region, that is fueled by the regional business dynamism, technological progress, and rising demand for safe and reliable solutions.
Global Blockchain Market Report Snapshots
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