Global Blockchain Market to Surpass USD 39.7 billion by 2025



 In 2020, the private blockchain type is expected to have the largest market size. A private blockchain is a shared database or ledger that is protected by traditional security measures like limited user rights. In general, private keys known only to the related organization are used to provide security to a private blockchain. A private blockchain is a subset of blockchain technology in which write permissions are centralized within a single organization. Read permissions may also be restricted based on the usability of the organization. A private blockchain gives businesses more options for leveraging blockchain technology for business-to-business use cases.

The global blockchain market is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 67.3 percent between 2020 and 2025. The growing need for supply chain management applications integrated with blockchain technology, as well as the increasing need for business process simplification will drive the overall blockchain market.

During the forecast period, the banking and financial services application area is expected to have the largest market share in the blockchain market. The banking and financial services application area has recognized the significance of blockchain technology, which aids in the security of customer transactions. Due to various factors such as high compatibility with the financial services industry ecosystem, rising cryptocurrencies and Initial Coin Offerings (ICOs), rapid transactions, and reduced total cost of ownership, blockchain technology in banking and financial services is expected to experience rapid growth worldwide. North America is expected to have the largest blockchain market size. The region's organizations' early adoption of blockchain technologies, as well as the emergence of several blockchain technology providers, will contribute to the market's overall share. Businesses in North America have recognized the potential of blockchain technology in providing enhanced customer experiences, and as a result, they have begun to use it to develop business applications.



IBM is a well-established and well-known vendor of dedicated hardware, software, and related services. IBM's product portfolio is diverse, and it includes analytics cloud platforms, a blockchain platform, collaboration tools, the Watson IoT Platform, mobile security and device management tools, and Watson Customer Engagement. By constructing trusted networks across industries, IBM's blockchain platform helps enterprises improve their business efficiency and solve business challenges. Data security services, security intelligence and operations, consulting, secure engineering and application security, and security strategy risk and compliance are among IBM's service offerings.

IBM (US), AWS (US), Microsoft (US), SAP (Germany), Intel (US), Oracle (US), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (UK), Guardtime (US), Digital Asset Holdings (US), Chain (US), Huawei (China), BlockCypher (US), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (Gibraltar), BlockPoint (US) are our major vendors (US),

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