The Global Blockchain Distributed Ledger Market size is expected to reach $5.0 billion by 2023, rising at a market growth of 60.6% CAGR during the forecast period. Blockchain distributed ledger is a medium of exchange formed and stored electronically, with the help of encryption methods, regulating the creation of financial units and verifying the transfer of funds.
Private organizations, individuals, and private firms create blockchain ledgers. The blockchain distributed ledger market has gained widespread adoption over the years. Minimal fees for transaction in blockchain distributed ledger applications, zero third party intervention in transactions, and almost minimal possibilities of fraud & identity theft would be the factors that would drive the market growth of blockchain distributed ledger market. Growing awareness about blockchain distributed ledger applications. However, limited acceptance and risk of unknown technical flaws are some of the factors that would hinder the market growth. Minimal effect of inflation on blockchain distributed ledger would be a factor that would offer lucrative opportunities for market participants.
Based on Types, the market report segments the market into Public and Private. Based on Verticals, the Global Blockchain Distributed Ledger market segments the market into BFSI, Government, Retail & Ecommerce, Automotive, Media & Entertainment, and Others. Based on Regions, the Global Blockchain Distributed Ledger market segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market research report covers competition analysis of key stake holders of the Global Blockchain Distributed Ledger Market. Key companies profiled in the report include Chain Inc., IBM Corporation, Accenture Plc., Monax Industries Limited, Intel Corporation, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, and Earthport.