Blockchain Distributed LedgerGlobal Market 2024 To Reach $161.34Billion By 2028 At Rate Of 62.9%

LONDON, GREATER LONDON , UNITED KINGDOM, October 31, 2024 /EINPresswire.com/ --

The blockchain distributed ledger market has experienced exponential growth in recent years, projected to rise from $14.11 billion in 2023 to $22.92 billion in 2024, with a compound annual growth rate (CAGR) of 62.4%. This historic growth can be attributed to several factors, including the emergence of cryptocurrencies—particularly Bitcoin—the increasing demand for transparent and tamper-proof recordkeeping, heightened interest in decentralized systems, growing concerns about security and trust in digital transactions, and the adoption of smart contracts and automation.

What Is The Estimated Market Size Of The Global Blockchain Distributed Ledger Market And Its Annual Growth Rate?
The blockchain distributed ledger market is anticipated to witness exponential growth in the coming years, projected to reach $161.34 billion by 2028, with a compound annual growth rate (CAGR) of 62.9%. This growth during the forecast period can be attributed to the expansion of decentralized finance (DeFi), the implementation of central bank digital currencies (CBDCs), the increasing importance of tokenization, a rising use of blockchain in identity management, and the growth of non-fungible tokens (NFTs).

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Growth Driver Of The Blockchain Distributed Ledger Market
The anticipated increase in investments in private blockchain distributed ledger technology worldwide is expected to drive the growth of the blockchain distributed ledger market in the future. A blockchain distributed ledger serves as a digital database that records all transactions within financial services, distributed across various nodes, computers, organizations, or countries, and is accessible and managed by one or more businesses globally. Private blockchain distributed ledger technology offers several advantages, including permissioned access, enhanced privacy for data transactions, centralized processing, reduced energy consumption, lower transaction costs, minimized data redundancies, simplified document handling, and the elimination of semi-manual compliance processes.

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Who Are TheKey Players Shaping The Blockchain Distributed Ledger Market Trends?
Key players in the market include AlphaPoint, Amazon Web Services Inc., Auxesis Services And Technologies Ltd., Digital Asset Holdings LLC, Earthport, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, iXledger, NTT DATA Corporation, Accenture PLC, Eris Industries, Visa Inc., Microsoft Corporation, Chain Inc., Blockchain Tech Ltd., Capgemini, Deloitte Touche Tohmatsu Limited, Global Arena Holding Inc., Ethereum, BitFuryUsa Inc., Coinbase Inc., Abra Inc., Walmart Inc., Monero, Binance, Ripple, Bitmain Technologies Holding Company, Circle Internet Financial Limited, BitGo

What Are TheDominant Trends In Blockchain Distributed Ledger Market Growth?
Major market players are focusing their efforts on implementing advanced technological solutions across various end-use industries to improve transparency and lower costs by eliminating processing overheads.

How Is The Global Blockchain Distributed LedgerMarket Segmented?
1) By Type: Private Blockchain, Public Blockchain
2) By Component: Solution, Service
3) By Application: Payments, Smart Contracts, Supply Chain Management, Compliance Management, Trade Finance, Other Applications
4) By End-Use Industry: BFSI, Government And Public Sector, Manufacturing, Retail And E-Commerce, Media And Entertainment, Transportation And Logistics, Healthcare, Energy And Utilities

Geographical Insights: North America Leading TheBlockchain Distributed LedgerMarket
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Blockchain Distributed Ledger Market Definition
A blockchain distributed ledger is a database shared across multiple computers, nodes, institutions, or countries, designed to enhance data transfer speed, minimize the need for third-party intermediaries in business operations, and optimize capital. This technology is utilized in various applications, including payments, smart contracts, supply chain management, compliance management, and trade finance.

Blockchain Distributed Ledger Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global blockchain distributed ledgermarket report covering trends, opportunities, strategies, and more
The Blockchain Distributed Ledger Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on blockchain distributed ledger market size, blockchain distributed ledger market driversand trends, blockchain distributed ledger market major players and blockchain distributed ledger market growth across geographies. Thisreport helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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