Asia-Pacific Blockchain Technology Market: In-Depth Industry Analysis on Size, Cost Structure and Prominent Key Players Analysis

In a recent published report, Kenneth Research has updated the Market report for Asia-Pacific Blockchain Technology Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia-Pacific Blockchain Technology Market Products.

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Blockchain technology is used to record Bitcoin transactions via a global network of computers. It is a continuously growing list of blocks (record) that are linked and secured using cryptography. Each new block created is connected to the previous block via a “cryptographic Hash”. The Asia-Pacific Blockchain Technology market is expected to grow at the highest CAGR (54%) during the forecasted years of 2018-2023 and is expected to earn a revenue of USD 4.59 Bn by 2023. APAC has been witnessing the fastest adoption of Blockchain technology in the last couple of years. It is expected that Asia pacific will attract significant volumes of venture capital investments for innovations in Blockchain.

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

Based on industries, supply chain management led the Asia-Pacific Blockchain technology market in 2017. Supply chain management made a huge breakthrough in China. IBM is one of the leading Blockchain consulting firms to have initiated the application of Blockchain technology in China with supply chain trials. Blockchain technology in Supply Chain management maintains records of asset transactions, verifies certificates, and links bar codes with digital codes. The Banking and Financial services sector is growing at the second highest CAGR. There is an increasing demand for a more efficient and affordable system of sending money across the region and even outside Asia. Blockchain Technology has the potential to cut down the cross border payment cost, hence expected to drive the Banking and Financial Service sector.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Key growth factors:
o Asia-Pacific is becoming the dynamic ground to implement new business models using Blockchain technology
o Further, the region is showing the largest adoption of Blockchain technology because of the increased use of e-wallets in China

Threats and key players:
o In China, though government bodies in key countries are accelerating Blockchain adoptions, recent regulations on Blockchain technology may pose challenges.
o In September 2017, the Central bank of China declared ICO as an illegal method of raising funds, causing the Blockchain project and start-ups to refund all the bitcoin and ethereum they had raised during ICO campaign to protect investors
o The key players of this regions are Microsoft Corporation, IBM, Accenture, Deloitte, and Capgemini

What’s covered in the report?
o Overview of the Asia-Pacific Blockchain technology market
o The current and forecasted market size data for the Asia-Pacific Blockchain technology market
o The current and forecasted market size data for the segments of the market – by industries– BFS (Banking and Financial services), Insurance, Supply Chain, Healthcare, Others
o Market trends in the Asia-Pacific Blockchain technology market
o Market drivers and challenges in Asia-Pacific Blockchain technology market
o Current and forecasted regional (China, India, Japan, and Australia) market size data for Asia-Pacific Blockchain technology market and its segments
o Analysis of company profiles of major players operating in the market

Why buy?
o Get a broad understanding of the Asia-Pacific Blockchain technology market and its segments- by type and by industries
o Get region-specific drivers and challenges affecting the Asia-Pacific Blockchain technology market
o Recognize significant competitors’ business and market dynamics, and respond accordingly

Customizations Available
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at info@netscribes.com

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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