Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
Blockchain market to be worth $67.4 billion by 2026

Blockchain market to be worth $67.4 billion by 2026

Global blockchain market to grow by 68.4& CAGR during 2022-2026

by Jagdish Kumar
July 25, 2022
in Global
Reading Time: 4 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

A report published by MarketsandMarkets revealed that while crypto adoption is increasing, the blockchain market is expected to rise further capturing over $64 billion market by 2026. 

The report titled, ‘Blockchain by Component (Platforms and Services), Provider (Application, Middleware, and Infrastructure), Type (Private, Public, and Hybrid), Organization Size, Application Area, and Region – Global Forecast to 2026‘, said that global blockchain market which was just $4.9 billion in 2021 will jump to $67.4 billion by 2026.

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.5k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.5k

The report underlined that the sector will grow at a whopping 68.4% compound annual growth rate (CAGR) because of the growing investment of venture capital funding in blockchain technology.

With the widespread acceptance of blockchain technologies for payments, smart contracts, and digital identities, as well as growing government activities, the use of blockchain technologies in banking and cybersecurity is on the rise, the report added.

The report said that their study has covered services, providers, application areas, and geographical regions of Europe, Middle East and Africa (MENA), North America, APAC, and Latin America and also examined the blockchain market in light of current trends and advancements, as well as its projected expansion between 2021 and 2026.

It offers thorough analyses of the market’s major players, vendor shares, market size, and trends.

APAC region leads

Asia Pacific (APAC) is expected to experience the greatest CAGR growth in the global blockchain market throughout the forecast period. The region includes developing nations like Singapore, China, Japan, and the rest of APAC.

APAC nations are investing in blockchain initiatives more frequently. The economies of APAC are expanding rapidly thanks to a rise in technical advancements and a big number of enterprises. The region is now in the exploratory and adoption stages of the blockchain market. 

Additionally, expansion in the financial industry is anticipated to support the use of blockchain tools and services. The number of startups using cryptocurrencies and blockchain technologies is increasing in APAC nations.

For instance, a Hong Kong-based business called Bitspark provides a remittance network that allows users to send and receive money in developing economies using blockchain technology. The area is examining blockchain technology’s potential to discover new opportunities and potential obstacles to overcome.

APAC’s supply chains are frequently much more challenging to manage than those in other parts of the world.  The use of blockchain in the area is expanding in an effort to lessen these complications.

Ecommerce has become a significant driving factor for APAC in 2020 due to the increasing use of smartphones and the internet, which increased the need for efficient blockchain technologies and services in the area of streamlining and efficiently managing the supply chain.

Additionally, this is increasing the region’s need for blockchain products and services.

Global platform & services market

The platform and services categories make up the global blockchain market that is included in the component section. 

Clients using this technology can create private, public, and consortium-based blockchain environments using the market’s blockchain platforms, which also give them the tools to create unique blockchain solutions and applications.

These platforms allow people, products, applications, and services to interoperate across various blockchain networks, cloud providers, and organizations.

The services category encompasses a variety of services, such as technological advice and consultancy, development and integration, support and maintenance, that are necessary to establish, implement, and operate a blockchain platform in an enterprise, the report adds.

The report also said that the platform market is anticipated to experience rapid acceptance during the forecast period as businesses begin to make use of the technology’s many advantages, including lower value chain costs, higher security, and faster operations that will provide them a competitive advantage. 

The adoption of the blockchain platform in the market throughout the forecast period would determine the growth of the services sector.

Services including technological counseling and consultancy, development and integration, support and maintenance, and others play a crucial role in the adoption of blockchain solutions, enabling businesses to use blockchain technologies and efficiently support their core business processes.

The report also listed companies that were the leaders as suppliers and services in the blockchain market namely, IBM, SAP, Intel, Oracle, Huawei, Accenture, Wipro, Bitfury, Chain, Blockcypher, Guardtime, Auxesis Group, Cegaka, BigchainDB, Symbiont, Applied Blockchain, NTT Data, Factom, R3, Spinsys, Blockchain Foundry, Dragon Chain and others. 

Tags: blockchain marketcryptocrypto market 2026finance market
Advertisement Advertisement
Previous Post

What’s new in Devikins NFT Mobile Game?

Next Post

What to expect from Klever Browser Extension?

Jagdish Kumar

Jagdish Kumar

Reporting & writing on crypto & blockchain for the past few years. A content eagle, journalist & writer with a passion to explore new technologies that can change human lives. Joined Klever to make Crypto simple. Follow me on Twitter @TokenBharat or email me at jagdish@klever.io

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.5k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.5k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post
Klever Web Browser Extension

What to expect from Klever Browser Extension?

What is Crypto Winter

Understanding the realities of a crypto winter

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8375 shares
    Share 3350 Tweet 2094
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7039 shares
    Share 2816 Tweet 1760
  • Bitcoin battles back from record losses to $21,000

    5915 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5360 shares
    Share 2144 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5074 shares
    Share 2030 Tweet 1269

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version