Kenneth Research released a report on Global Blockchain Technology Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031. The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period.
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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Blockchain Technology Market
Blockchain technology is being used increasingly in the Banking Financial Services and Insurance (BFSI) segment for financial transactions and cross-border payments. In the banking and financial sector, it is utilized to secure payments, maintain customer identities, settle cross-border payments, etc. The global Blockchain market is expected to grow at a CAGR of 42.8% (2017-2022), resulting in a global revenue of USD 13.96 billion by 2022.
Blockchain technology is also employed in the healthcare sector, supply chain management, energy, media, informatics, etc. BFS,I however, holds the largest share while Blockchain in retail industry under supply chain management is the fastest growing sector.
The Blockchain Technology market is further classified into three main types based on its users’ accessibilities – Public Blockchain Technology, Private Blockchain Technology and Mixed Blockchain Technology. Public Blockchain technology rules the roost.
The US dominates in Blockchain patents application. About half of the total Blockchain patents applied are primarily for financial applications.
Key growth factors
Financial Technology (FinTech) companies are planning to invest a part of their total investment in the distributed ledge technology, i.e., Blockchain. The decentralized nature of the technology attracts the banking sector to adopt it.
The Blockchain technology market is expected to exhibit swift growth owing to less time consumption and its transparent nature that also requires less transaction costs.
Threats and key players
Even though the Blockchain market is expected to grow globally, there still a lack of awareness, regulation problems and clashes of ideology that hinders its adoption.
Some of the Blockchain technology providers in the Blockchain market are Microsoft Corporation, IBM, Accenture, Deloitte, etc.
What’s covered in the report?
1. Overview of the Blockchain technology market
2. Current and forecast market size data for Global BFS, Insurance, supply-chain, healthcare, others
3. Current and forecasted regional (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) market size data for Blockchain technology market
4. Current and forecasted market size data for Global Public, Private, Mixed Blockchain technology
5. Analysis of company profiles of major public and private players operating in the market
6. Blockchain Technology patent analysis
7. Key Opportunity for Blockchain technology market
8. Market Trends in global Blockchain technology market
1. Get a broad understanding of the Blockchain technology application in BFS, Insurance separately along with its use in Supply Chain Management, healthcare, others
2. Get Region-specific drivers and challenges affecting the Global Blockchain Technology market
3. Recognize significant competitors’ business and market dynamics, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Global Blockchain Technology Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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