Global Blockchain Market Share 2021 | Manufacturing Size, Share, Future Trends, Opportunities, Industry Expansion Strategies and Global Analysis by Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Global Blockchain 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 Analsysis 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Global Blockchain Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Global Blockchain Market in Banking Industry: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023

Overview:
Blockchain technology is currently at nascent stage in the banking industry. During 2017–2018, most of the banks have adopted blockchain technology as part of their strategy, which has also resulted in banks entering in partnerships with technology companies and fintech vendors to build and test blockchain applications in their operations.
Blockchain is said to be all about improving efficiency and cost reduction, however, banks are taking it as a strategic move mainly to overcome their existing challenges related to compliance and regulatory, fraud reduction, and security among others, which in return offers higher transaction speeds of below 10 seconds and also helps in reducing operational costs.

Market Analysis:
Blockchain in banking industry is segmented by blockchain types, applications, sub-verticals, and regions. Blockchain types including public, private, and hybrid blockchains and the private blockchain is poised to grow at a higher rate during the forecast period 2018–2024. Currently, more than half of the banks are significantly focusing on building their own private blockchains by partnering with other banks and blockchain developers. The partnership is also aiming in creating a few numbers of global bank networks to enable seamless payment transactions.
In the banking industry, blockchain applications are currently focused on clearance and settlement systems, trading platforms, fraud detection, e-KYC, smart contracts, and regulatory reporting & compliance; the clearance and settlement systems segment is the largest adopter of blockchain technology. Blockchain partnerships are aiming at building applications around these mentioned use cases and companies including Microsoft, IBM, and JP Morgan are focusing on developing applications around fraud detection and compliance management.

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The sub-verticals mentioned in the report are Inter-bank transfers, Cross-border transfers & remittances, Retail and P2P payments and Corporate payments. Among these, banks are deploying blockchain to support their inter-bank transactions followed by others.

Regions:
The market is segmented by regions and Europe and Asia Pacific are the leading adopters of the technology followed by Americas and MEA. It is expected that blockchain will reduce financial fraud by up to 35% in the next three years, however it also eliminated the intermediaries involved in a payment transaction, which may create disruption in the banking industry. Countries including US, Japan, China, India and Western European countries are focusing on deploying blockchain solutions in their banking systems.

Vendors:
The report provides details about the market for blockchain in global banking industry. The report also contains an in-depth analysis of vendors profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views, and competitive landscape. The companies included in the report are Microsoft, IBM, Fujitsu, JP Morgan, Ripple, R3, Clearmatics, Primechain technologies, Signzy, and Accubits technologies.

Table of Contents
1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
4 Market Outlook
4.1 Overview
4.2 Porter 5 (Five) Forces
5 Market Characteristics
5.1 Ecosystem
5.2 Market Segmentation
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Blockchain ensure faster transactions
5.3.1.2 Blockchain offer secured transactions
5.3.1.3 Blockchain ensures auditability
5.3.2 Restraints
5.3.2.1 Data security and privacy concerns
5.3.2.2 Blockchain does not offer reversible transactions
5.3.3 Opportunities
5.3.3.1 Increasing demand for Blockchain as a Service
5.3.3.2 Growing usability of blockchain in IoT
5.3.4 DRO-Impact Analysis
5.3.5 Market Trends
6 Blockchain Types: Market Size & Analysis
6.1 Overview
6.2 Public Blockchain
6.3 Private Blockchain
6.4 Hybrid Blockchain
7 Applications: Market Size & Analysis
7.1 Overview
7.2 Clearance and Settlement Systems
7.3 Trade Finance
7.4 Fraud Detection
7.5 e-KYC
7.6 Smart Contracts
7.7 Regulatory Reporting and Compliance
8 Sub Verticals: Market Size & Analysis
8.1 Overview
8.2 Inter-bank Transfers
8.3 Cross-border Transfers & Remittances
8.4 Retail and P2P Payments
8.5 Corporate Payments
9 Regions: Market Size and Analysis
9.1 Overview
9.2 Americas
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
10 Vendor Profiles
10.1 Microsoft
10.1.1 Overview
10.1.2 Business unit
10.1.3 Geographic revenue
10.1.4 Business focus
10.1.5 SWOT
10.1.6 Business strategies
10.2 IBM
10.2.1 Overview
10.2.2 Business unit
10.2.3 Geographic revenue
10.2.4 Business focus
10.2.5 SWOT analysis
10.2.6 Business strategies
10.3 JPMorgan Chase & Co.
10.3.1 Overview
10.3.2 Business unit
10.3.3 Geographic revenue
10.3.4 Business focus
10.3.5 SWOT analysis
10.3.6 Business strategies
10.4 Fujitsu
10.4.1 Overview
10.4.2 Business unit
10.4.3 Geographic revenue
10.4.4 Business focus
10.4.5 SWOT analysis
10.4.6 Business strategies
10.5 Ripple
10.5.1 Overview
10.5.2 Business focus
10.5.3 SWOT analysis
10.5.4 Business strategies
11 Companies to Watch for
11.1 R3
11.1.1 Overview
11.1.2 Blockchain offerings
11.2 Clearmatics
11.2.1 Overview
11.2.2 Blockchain offering
11.3 Primechain Technologies
11.3.1 Overview
11.3.2 Blockchain offering
11.4 Signzy
11.4.1 Overview
11.4.2 Blockchain offering
11.5 Accubits Technologies
11.5.1 Overview
11.5.2 Blockchain offering
12 Competitive Landscape
12.1 Competitor Comparison Analysis
13 Partnerships
Annexure
 Acronyms

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