Global [FURL=https://www.industryarc.com/Report/17949/blockchain-market.html]Blockchain Market[/FURL] is forecast to reach $1.2 Bn by 2025, growing at a CAGR of 46.3% during the forecast period from 2020 to 2025. Rising adoption of blockchain solutions due to their capability of providing increased transparency towards financial transaction management and increasing digitalisation are majorly driving the market growth of blockchain market. Higher deployments of blockchain technology across various industry verticals such as retail, banking, e-commerce and many others are also helping in boosting its market growth. Moreover, blockchain is getting widely deployed due to lesser chances of human error and rising rate of digitalization, thus helping in significant market growth.Key Takeaways
Hybrid Blockchain market is expected to have a major market share during the forecast period 2020-2025 owing to growing adoption from ecommerce, banking and many such industrial sectors.
Key market players such as IBM Corporation and Microsoft Corporation have been helping towards significant market growth in North America.
Rising rate of digitalization across industries along with providing an increased transparency system for financial data management are acting as major driving factors towards significant growth of Blockchain market.
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Geography - Segment Analysis
North America is expected to have a major growth in the global blockchain market during the forecast period from 2020 to 2025. High investments towards research and development activities along with rising adoption of blockchain technology have been fuelling the growth for Blockchain market in this region. Presence of some key players such as IBM Corporation, Oracle Corporation and Microsoft Corporation are acting as major drivers for the growth of blockchain market. Rising growth of IT sector and high deployment of blockchain solutions across industries like retail, ecommerce and many others are also causing significant market growth in this region.
Drivers – Blockchain Market
Increased transparency
Growing digitalization
Market Landscape: Partnerships and acquisitions along with product launches are the key strategies of the players in the Blockchain Market. The major key players in the Blockchain Market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Amazon Web Services, ConsenSys, Digital Asset Holdings, Applied Blockchain Ltd., Intel Corporation and Bitfury.
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