Blockchain
Blockchain Technology Market Worth $21,070.2 Million by 2025; Increasing Research & Regulatory Approvals to Boost Growth, says Fortune Business Insights™
Pune, Jan. 02, 2020 (GLOBE NEWSWIRE) — The global Blockchain Technology Market size is projected to reach USD 21,070.2 million by the end of 2025, thereby exhibiting a CAGR of 38.4%. Fortune Business Insights™ published this information in a recent report, titled, “Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025.” The report further states that the market was valued at USD 1,640.7 million in 2017.
Highlights of the Report
Nowadays, the industry giants are focusing mainly on investing huge sums in the research and development activities to create and implement blockchain in their companies. Besides, the government, as well as public authorities, are showcasing high interest in regulatory and research approvals of the products that are being launched in the market. All these factors are anticipated to propel the Blockchain Technology Market growth during the forecast period.
Proof of Concept Segment to Lead Fueled by Rising Usage in BFSI and Retail Industries In terms of deployment, the market is grouped into production, pilot, and proof of concept. Amongst these, the proof of concept segment is anticipated to lead the market in the coming years. This growth is attributable to the increasing investments by the governments of various countries for implementing this solution in the emerging or niche industries, namely, healthcare and BFSI. Moreover, the validated requirement of blockchain solutions for optimizing online transaction facilities in the retail and BFSI industries would also accelerate the growth of this segment. Some of the most significant end users of proof of concept solutions are manufacturing, life sciences, and healthcare industries.
Geographically, the market is segregated into Europe, the Middle East and Africa, Asia Pacific, North America, and Latin America. Out of these regions, North America had generated USD 820 million Blockchain Technology Market revenue in 2017. It is expected to retain its dominant position in the coming years owing to the rising partnerships and alliances between service providers and prominent companies in the U.S. They are doing so to ensure the coherent deployment of blockchain technology. Europe is projected to experience high growth stoked by the increasing dominance of the manufacturing industry in this region. Asia Pacific, on the other hand, is likely to showcase moderate growth and a significant CAGR on account of the rising number of investments undertaken by financial technology organizations in the developing nations, such as Korea, China, Japan, and others.
IBM Launches Blockchain Platform Free 2.0 Beta with Enhanced Features February 2019: IBM launched its latest next-generation cloud-based Blockchain Platform Free 2.0 Beta. It is a fully-flexible blockchain platform. It provides three state-of-the-art capabilities that are not present in any of the other available platforms in the market. It maintains complete control of the user’s smart contracts, ledge, and identities through a redesigned console. The user can connect an individual peer to multiple networks and even deploy only the necessary components. It aids in augmenting the user’s ability to gain advantage from several industry networks. Lastly, it helps the user to grow very easily and quickly by letting the person move from development to test, and to production in a single environment. Overall, this new development would support IBM in gaining more Blockchain Technology Market share during the forthcoming years.
Fortune Business Insights™ profiles some of the most renowned companies operating in the Blockchain Technology Market. They are as follows:
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IIoT (Industrial Internet of Things) Technology Market Size, Share and Global By Deployment Type (Hardware & Software), By Industry Vertical (Manufacturing, Oil &Gas, Metal & Mining), By Applications (Distribution Management System, Visualization Software, Transit Management System, and others) and Geography Forecast till 2026 Location-Based Services (LBS) Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Location Type (Indoor, Outdoor), By Application (Emergency Services, Tracking Services, Navigation Services, Others), By End-User (BFSI, IT and Telecommunications, Retail, Transportation and Logistics, Government, Healthcare and Life Sciences, Manufacturing) and Regional Forecast, 2019-2026 Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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Growing Regulatory Approvals by Several Authorities to Boost Growth
North America to Dominate Backed by Rising Partnerships Between Industry Giants
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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