Blockchain Technology Market : Recent Industry Developments and Growth Strategies Adopted by Players
The global blockchain technology market is led by top three companies viz R3, Chain Inc., and IBM, which collectively accounted for 45.3% of the market in 2015. Players in the market are focusing on mergers and acquisitions so as to expand their consumer bases and make valuable additions to their existing technologies, states Transparency Market Research (TMR) in its report. The competition is high in the blockchain market on account of the powerful presence of many players. Enhancement of product portfolio remains the key focus of leading vendors in this market. As per the report, the global blockchain market is expected to rise from US$315.9 mn in 2015 to be worth US$20 bn by the end of 2024, exhibiting a whopping CAGR of 58.7% between 2016 and 2024, which is tremendously high. On the basis of type, the global blockchain market is expected to be led by the consortium blockchain technology, which is predicted to expand at a remarkable CAGR of 58.9% between 2016 and 2024. Consortium te...