The Market Research on the “Blockchain Services Market 2021-2030”, now available with Market Insights Reports, Introduces systematic details in terms of market valuation, market size, revenue estimation, and geographical spectrum of the business vertical. The Blockchain Services market report offers an overview of top company profiles with business value and demand status of the industry. The report also helps the user to understand the market in terms of its definition, segmentation, market potential, influential trends, and therefore the challenges that the market is facing. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Blockchain Services investments from 2021 till 2030.
The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it, which impacted industries negatively and resulted in low investments on technology. The market is then expected to recover and reach $4.36 billion in 2023 at a CAGR of 60.01%.
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Major Key Players: –
IBM Corporation, Amazon.com, Microsoft Corporation, Oracle Corporation, SAP, Stratis, Baidu, Inc., Huawei Technologies Co. Ltd., Accenture, and Deloitte.
Market Overview: –
The blockchain services market consists of sales of blockchain services and related products. For companies engaged in building blockchain applications blockchain-as-a-service acts as a third-party service that creates and manages cloud-based networks which is a growing field for blockchain technology. The revenue generated by the blockchain services market is through sales of blockchain services by platform vendors and service providers for the application of identity management, payments, smart contracts, supply chain management, and others.
North America was the largest region in the blockchain services market in 2019. Asia Pacific is expected to be the fastest-growing region in the forecast period.
Quantum computing is gaining popularity in the blockchain space that will help overcome the problems faced in providing blockchain services. Quantum computing is a process that uses quantum-mechanical phenomena like superposition and quantum entanglement for computing. Quantum computing utilizes qubits that help in the storage and processing of a large amount of data exponentially fast with less energy consumption, unlike conventional computers that use bits for the same process. In 2019, Google announced that its quantum computer performed a calculation in 200 seconds which had a 53-qubit Sycamore processor. The same would take 10,000 years for the world’s fastest supercomputer, Summit, a supercomputer by IBM. The use of quantum computing will help resolve issues related to scalability and higher energy consumption by blockchain technology..
Markets Covered: 1) By Component: Tools; Services
2) By End-use: BFSI; IT & Telecom; Healthcare; Retail; Manufacturing; Logistics; Government; Media & Entertainment; Energy and Utilities; Others
3) By Application: Payments; Smart Contracts; Supply Chain Management; Governance, Risk, and Compliance Management; Identity Management; Others
Companies Mentioned: IBM Corporation; Amazon; Microsoft Corporation; Oracle Corporation; SAP
Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions; per capita expenditure.,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Blockchain Services Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, Current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Blockchain Services Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
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