LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global blockchain technology market is expected to accelerate at a CAGR of close to 56% during the forecast period. Increase in FinTech spending is one of the key factors triggering the growth of the market.
This research report titled ‘Global Blockchain Technology Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global blockchain technology market into the following end-user:
- BFSI
- Supply chain management
- Healthcare
- Others
In 2016, the BFSI segment accounted for 35% of the global market and is projected to reach 38% by 2021, exhibiting almost 3% increase in market share.
Global blockchain technology market: Top emerging trend
Advent of artificial intelligence (AI) is an emerging trend in the ICT space. BT powered by AI is the most advanced IT development taking place in the blockchain and cryptocurrency market. AI provides several features to manage decentralized monetary systems. AI algorithms can be used to predict the value of bitcoins, which can help bitcoin traders manage bitcoin transactions. Moreover, FinTech companies are analyzing the implementation of AI in financial transactions. A growing number of financial businesses are trying to investigate the different implications of machine learning and AI for their businesses. Robotics is also playing a role of consultants and is automating the processes of FinTech solutions by avoiding disruptions. These robots help in reducing the financial transactions, thereby bringing in great transparency, so companies can know the real profitability that is achieved on a day-to-day basis. This will help the customers with easy access to comparative information and will allow investors to be better informed before making decisions about their financial plans.
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Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Blockchain Technology Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, EMEA)
- Key leading countries
- Market segmentation by end-user (BFSI, supply chain management, healthcare, others)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Accenture, IBM, Microsoft)
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