BLOCKCHAIN MARKET ANALYSIS

Regional Analysis

Regional Insights

The blockchain market is expected to be segmented on the basis of geography in North America, Europe, Asia Pacific, Latin America, Middle East and Africa regions. The market in North America is expected to be dominant in the global market, owing to rising awareness and increasing applications of this technology in various segments. For instance, U.S. Department of Energy is exploring the application of blockchain for the management of next-generation power grids.

Rising demand for e-Commerce in emerging economies of Asia Pacific such as China and India is another factor fueling growth of the market. According to Coherent Market Insights’ analysis, in 2016, China accounted for over 63% of digital buyers, followed by India and Japan in the region. Hence, Asia Pacific accounted for over 10% of the global retail e-Commerce sales in 2016. This is owing to increasing implementation and improving blockchain services in this region. Blockchain is used in e-Commerce for gathering data on exchanges, real-time tracking of digital transaction, and payments. Increased adoption and development of Bitcoin in China is expected to fuel growth rate of block chain market in Asia Pacific region. According to Coherent Market Insights, in 2017 the number of Bitcoin users in China were relatively high and over 80% of Bitcoin transactions were done in the Chinese Yuan.

Geographies covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa