A new report out on the structure of the Global Blockchain Technology Market over the next four years has predicted that the market could be worth as much as seven billion dollars by the year 2021. This comes on the back of the annual report from 2015, which valued the market than at over 500 million dollars. The market is set to grow exponentially over the next four years, as increases in Fintech spending continue to occur.

What is the Blockchain Technology Market?

Blockchain in a ledger technology that is distributed through the internet over several hundred nodes, and has no physical server, instead using all the individual servers that are available. It can be used to manage financial transactions, technology sharing, and new tech platforms, without the need for added security from third parties. Blockchain can facilitate the use of peer-to-peer transactions without the need for intermediaries such as banks and other governing bodies. The Blockchain currency, Bitcoin, has been widely regarded as the foundation stone for the development of BT, the most advanced ledger management system so far, which has revolutionized the payment industry.

The technology used is currently at a stage where it is still being adopted and has a long way to go, but it has gained massive popularity over the last year, and many leading IT companies are testing the waters regarding the use of BT on a real-time basis.

Current status of manufacturers included

Some of the key points of the report issued by Market Reports World have shown how much Blockchain has influenced the IT world, especially in key areas such as privacy and security, increased market shares, and the use of artificial intelligence (AI) in the global industry. The 62-page report also included key statistics on the current status of Blockchain Tech manufacturers, which are a valuable resource for the direction and guidance of companies interested in investing in Fintech.

And it is this increased investment in Fintech that is currently driving the increases in the Global Market Share to grow at around 55 percent per annum, up to the year 2021. Fintech is an important part of the global development of Blockchain, and its increased use in a huge number of industries. As the amount of money being invested in Fintech companies increases so does the need to increase and improve Blockchain technology to cover an ever greater market in financial technology and the Internet of Things (IoT).

Report contains in-depth information

The report – which contains in-depth research information on the Blockchain technology industry into areas such as definitions, segmentation, applications, key players, market drivers, and market challenges – covers several key areas of business within the Global Blockchain Technology Market, including:

  • Five forces analysis
  • Product offerings
  • Recent developments
  • Business revenue ({8b3f73219b5080a422b1f04099b73d538078b62721cecdfd0086dbdff3438969} share)
  • Application (millions of units)

The report also estimates the market development trends for the period of 2017 to 2021, including the Blockchain Technology market analysis on the various international markets, development trends, competitive landscape analysis, and the development status of several key regions.

Conclusion of the report gives feasible proposals

The report concludes by making several important proposals for a new Blockchain Technology market and gives a full feasibility study evaluation of the concept. With the major growth prospects and detailed analysis of the major companies operating within the Blockchain Technology market, it is expected that prominent Blockchain companies such as Accenture, IBM, Microsoft, etc, will see more growth than other prominent vendors over the coming years.