Blockchain Technology Market Growing at 61.5% CAGR to 2021

PUNE, India, October 14, 2016 /PRNewswire/ --

The global blockchain technology market is projected to grow from USD 210.2 million in 2016 to USD 2,312.5 million by 2021, led by infrastructure and protocols provider segment while media and entertainment vertical to have the highest growth rate during the forecast period.

Complete report on global blockchain technology market spread across 153 pages, profiling 18 companies and supported with 67 tables and 45 figures is now available at http://www.marketreportshub.com/blockchain-technology-industry-research-marketsandmarkets.html .

The blockchain technology market is growing rapidly as the organizations are more focused on transparency & immutability, and scalability. However, factors such as lack of awareness about the blockchain technology and uncertain regulatory status are the major restraints in the overall growth of the market.

Infrastructure and protocols provider segment is estimated to have the largest market size in 2016 due to increasing need for services such as mining, public, and special protocols. Furthermore, the application and solution provider segment will grow at the highest CAGR during the forecast period, due to demand for efficient business processing applications.

The blockchain technology solutions have been deployed across various industry verticals, including Banking, Financial Services, and Insurance (BFSI), government & public sector, healthcare & life sciences, retail & ecommerce, automotive, media & entertainment, and others. The media and entertainment vertical is expected to witness the highest CAGR during the forecast period as the industry has been transformed with digital technology to solve various problems such as problem of copyrights by assigning rights, usage tracking, and distribution of all the content creators and owners using blockchain technology.

APAC includes emerging economies, such as India, China, Australia, and Singapore which are showing particular growth in cryptocurrency and blockchain technology start-ups. This is mainly due to the digitization of businesses by small, medium, and large enterprises in the region. Thus, the region is expected to witness the highest growth rate in the blockchain technology market.

The report includes the study of key players offering blockchain technology solutions; Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), and Earthport (U.K.) are some of the companies profiled in the report. Order a copy of Blockchain Technology Market by Provider, Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Clearing and Settlement), Organization Size, Vertical, and Region - Global Forecast to 2021 research report at http://www.marketreportshub.com/purchase?rpid=4304 .