The Report Global Blockchain Technology Market 2017-2021 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.bizAlbany, NY — (SBWIRE) —
Blockchain technology (BT) supports the existence of cryptocurrency. Therefore, the growing investments in financial technologies (
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The rising concerns regarding network privacy and security are, however, hampering the growth of the market. In addition, the existing technology has issues with system configuration, which induces skepticism among end users and thus, limits its widespread adoption. Furthermore, the lack of awareness regarding this technology is negatively impacting the growth of the market.
On the other hand, the advent of artificial intelligence (AI) and continuous advancements in technology are likely to create tremendous growth opportunities for the global BT market. AI enables investors to be better informed while making a decision about their financial plans and customers to have easy access to comparative information. The increasing implementation of IoT is also expected to augur well for the growth of the market in the near future.
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On the basis of end user, the global blockchain technology is divided into supply chain management, BFSI, and healthcare. BFSI will continue to account for the lion’s share in the market until 2021. The soaring need to manage digital transactions, insurance policies, and claims is driving the demand for blockchain technology across the BFSI sector.
Geographically, the market is segmented into
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The low availability of suppliers makes it difficult for companies operating in the global blockchain technology market to provide competitive costs to end users. In such a scenario, to gain a competitive edge, players are constantly focusing towards the development of new and advanced technologies. The leading players in the market are Accenture,
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