Data Sheet on Global Blockchain Technology Market 2021 Industry Share, Size, Growth, SWOT Analysis, Cost Structure, Top Companies, Worldwide Demand, Segments and Forecast Research 2030
May 26, 2021 (AmericaNewsHour) —
In a recent published report, Kenneth Research has updated the market report for Data Sheet on Global Blockchain Technology Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Sheet on Global Blockchain Technology Market products.
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The Data Sheet on Global Blockchain Technology Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Increasing applications in sectors like Banking and Financial Services, Healthcare, Supply Chain Management, Energy, Media, and Informatics, among others, will enable the growth of the Blockchain technology market.
The global market for Blockchain technology will expand at a CAGR of 42.8% to reach a revenue of USD 19.9 Bn by 2023. Public, private and mixed are the different types of Blockchain technology, with the first reigning in terms of market dominance. The database from World Intellectual Property Organization reports that more than half of the 406 Blockchains related patent applications are from China.
China is leading global blockchain patent applications. Digitally-minded opportunists are the breakthrough of blockchain in China. The local governments of China are looking forward to working with Blockchain related programs and making investments that would benefit start-ups. China’s top retailers are planning to use blockchain for traceability systems. JD.com, a Chinese e-commerce firm plan to use Blockchain technology for Supply chain management. Blockchain application in supply chain management is expected to grow at a double-digit CAGR.
Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10009540
An abundance of forthcoming investments and benefits like smoother and transparent operations should be help negate the challenges posed by the lack of awareness and inadequate regulatory framework in the Blockchain market. Giants like Microsoft Corporation, IBM, Accenture, and Deloitte are among those who provide Blockchain technology services.
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