Blockchain Technology Market Expected To Grow At 36.8% CAGR Between 2021-2031 | Market Size, Share, Growth, Forecast
The global Blockchain technology market was valued at $ 6.1 billion in 2020 and is expected to reach $ 183.2 billion in 2031 at a CAGR of 36.8% between 2021 and 2031.
MILWAUKEE, WISCONSIN, USA, October 30, 2021 /EINPresswire.com/ – According to a Global Blockchain Technology Market Report released by Sheer Analytics and Insights, the total market was valued at $ 6.1 billion in 2020 , growing at a high CAGR of 36.8% between 2021 and 2031. It is estimated to reach $ 183.2 billion by 2031. North America has dominated the global Blockchain technology market in 2020 with a market share of 46.2% in value. Asia-Pacific is expected to dominate the global blockchain technology market during the forecast period. The Asia-Pacific Blockchain Technology Market is expected to grow at a CAGR of 39.3% in terms of value during the forecast period.
The concept of Blockchain technology is one of the most important technologies that created the third world of payments versus physical currencies or gold. Whether legal or illegal businesses, blockchain-based currencies have shown a significant impact on the market. It is believed that there are over 15 Blockchain technology-based cryptocurrencies that trade in the Blockchain-based marketplace, and the valuation of these currencies is over $ 5,000 billion in 2020. In addition to This, Blockchain technology based companies have attracted excellent traction from investors around the world and have attracted over $ 2 billion in 2021 to date.
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Recent investments in technology based on Blockchain technology:
Alchemy Insights, Inc., a Blockchain Technology Development Platform Company, Received $ 250 Million in Funding, Making Its Valuation Over $ 3 Billion
Quick node, a crypto-based startup, received over $ 35 million in seed funding
Sport chain, a blockchain-based fan engagement platform, raised $ 400,000
5ire, a UK-based company raised $ 1million in funding, bringing its total funding to $ 10million
Immunefi, a security-based platform for bugs and crypto solutions, raised $ 5.5 million
It is estimated that investments in technologies based on Blockchain technology will exceed 4 billion by the end of this year. The growth is mainly attributed to the growing demand for cryptocurrencies; companies have started to recognize this as a payment method, securing data with tighter, easier-to-implement protocols without the high hardware cost.
In terms of application, exchange platform-based systems dominate the market with a share of over 70% in 2021. This growth has been observed due to the infused and continuous massive investments in these companies over the years. last years. Based on our key findings, this segment has attracted more than $ 7 billion in investment over the past three years. At the same time, security protocols on Blockchain Technology systems are expected to grow at the fastest rate of over 50% during the forecast period.
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According to the study, the major players operating in this market are Alchemy Insights, Inc, Blockchain Technology.com, Microsoft Corporation, IBM Corporation, Deloitte Touche Tohmatsu Limited, Paxful, Mythical games, Chainalysis, Inc., Ripple Labs Inc., Chain Inc., BTL Group Ltd, Global Arena Holding Inc., New York Digital Investment Group LL, Coin DCX, Robinhood Markets, Inc., Digitalx Limited and EarthPort Plc.
The global blockchain technology market has been segmented into:
Global Blockchain Technology Market: By Supplier
Application and solution provider
Infrastructure and protocol provider
Global Blockchain Technology Market: By Application
Global Blockchain Technology Market: By Industry Verticals
Banking, Financial Services and Insurance (BFSI)
Government and public sector
Retail and e-commerce
Logistics and transport
Media and entertainment
Global Blockchain Technology Market: By Geography
The rest of europe
Rest of Asia-Pacific
Middle East and Africa
United Arab Emirates
Rest of Middle East and Africa
Rest of Latin America
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