LONDON--(BUSINESS WIRE)--The blockchain technology market is expected to grow by USD 8.07 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the blockchain technology market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through Response, Recovery and Renew phases. Download a Free Sample Report on COVID-19
The blockchain technology market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Related Report on Information Technology Industries:
Global Blockchain Identity Management Market: The blockchain identity management market size has the potential to grow by USD 4.61 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
Blockchain Technology Market in Transportation and Logistics Industry: The blockchain technology market size in transportation and logistics industry will decrease by $ 811.51 million during 2020-2024, and the market’s growth momentum will decelerate during the forecast period because of the decline in year-over-year growth. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
Major Three Blockchain Technology Market Participants:
Accenture Plc
Accenture Plc operates its business under five segments, which include communications, media & technology, financial services, healthcare & public service, products, and others. The company offers consulting, technical, and operation services that help organizations to implement distributed ledger technology for BFSI and capital markets.
Amazon.com Inc.
Amazon.com Inc. operates its business in North America and under International and amazon web services. The company offers Amazon Managed Blockchain service that helps to create and manage scalable blockchain networks using the popular open-source frameworks Hyperledger Fabric and Ethereum.
Huawei Investment & Holding Co. Ltd.
Huawei Investment & Holding Co. Ltd. operates its business in the carrier business, enterprise business, and consumer business. The company offers Huawei Cloud Blockchain service which efficiently helps to build smart city blockchain solutions and applications.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/blockchain-technology-market-industry-analysis
Blockchain Technology Market 2020-2024: Segmentation
Blockchain technology market is segmented as below:
-
End-user
- BFSI
- Government
- Healthcare
- Others
-
Geographic Landscape
- North America
- Europe
- APAC
- South America
- MEA
The blockchain technology market is driven by an increase in FinTech spending. In addition, other factors such as easier access to technology is expected to trigger the blockchain technology market toward witnessing a CAGR of over 29% during the forecast period.
Get more insights about the global trends impacting the future of blockchain technology market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR43773
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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