Product ID: SQMIG45E2230
Report ID:
SQMIG45E2230 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
148 |
Figures:
78
Global Blockchain Market size was valued at USD 6.5 Billion in 2022 and is poised to grow from USD 8.76 Billion in 2023 to USD 1.3 Trillion by 2031, at a CAGR of 80.8% during the forecast period (2024-2031).
Growing innovations and consumer awareness of the benefits of employing blockchain technology is expected to propel the market forward in the near future. The key aspects driving the growth of the global blockchain market include the adoption of blockchain technology across BFSI, healthcare, media and entertainment, and many others.
Wide acceptance of blockchain solutions for payment, digital identities, and smart contracts are also among some of the prospects that drive the market growth during the forecast period. The increased venture capital investing in blockchain technology startups can also be attributed to the market growth. Blockchain technology witnessed significant growth after the advent of Bitcoin, and it is now being used by various financial institutions for transactions. In the last two to three years, blockchain technology solutions have gained in popularity for a variety of commercial applications, including payments, exchanges, documentation, and many others. Many startups such as Blockpoint, Auxesis Group, Symbiont, SpinSys, Bitfury, Neufund, Fetch.AI, Confirm, Genomes, QubiTech, and CiveQ among others have entered the market and begun developing blockchain-based solutions.
US Blockchain Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG45E2230