Global Cryptocurrency and Blockchain Market Size, Share and Trends Analysis Report, By Component (Platforms and Services), By Organization Size (Large Enterprises and Small and Medium Enterprises (SMEs)), By Application (Transportation and Logistics, Healthcare and Life Science, Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Retail and E-Commerce, Government, and Others), Forecast (2022-2028)

The global cryptocurrency and blockchain market are anticipated to grow at a CAGR of nearly 35.0% during the forecast period (2022-2028). The major factor expected to drive the market growth is the rising venture capital funding and investments in blockchain technology. Furthermore, a rise in demand for remittances in developing countries, an increase in data security, and an improved market capitalization will further drive the market growth. Moreover, the untapped potential of emerging economies and increase in demand for cryptocurrency among banks, and financial institutions are encouraging the growth of the market. Additionally, blockchain has great potential in various application areas, such as banking, cybersecurity, and IoT (Internet of Things). These are some causes that propel the growth of the market during the forecast period.

Some major players in the market include Amazon Web Services Inc. (AWS), Advanced Micro Devices, Inc., and Huawei Technologies Co., Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2021, Amazon Web Services Inc. notify the availability of Ethereum, a popular decentralized blockchain framework that established a peer-to-peer network allowing participants to transact without a trusted central authority on Amazon Managed Blockchain and enabled popular use cases such as decentralized finance (Defi), a network of financial applications built on blockchain networks. In addition, in September 2021, Huawei Technologies Co. announced that the company has updated its blockchain-based cloud service, Blockchain Service 2.0 (BCS 2.0). Further, the company added that the new and enhanced platform meets performance requirements of 50,000 Transactions Per Second (TPS), much higher than Bitcoin and Ethereum.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Component
  • By Organization Size
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

 

• Competitive Landscape– Amazon Web Services Inc., Advanced Micro Devices, Inc., and Huawei Technologies Co., Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Cryptocurrency and Blockchain Market Report by Segment

By Component

• Platform
• Services

By Organization Size

• Large Enterprises
• SMEs

By Application

• Transportation and Logistics
• Healthcare and Life Science
• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecom
• Retail and Ecommerce
• Government
• Others

Global Cryptocurrency and Blockchain Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa