Blockchain Distributed Ledger Market to Witness Astonishing Growth by 2029

The global blockchain distributed ledger market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The BFSI companies operating in the global market are rapidly adopting digital ledger technology to secure end-users financial and monetary data & identity. Technology applications including cross-border transactions, clearing and settlements, trade finance platforms, and credit reporting are gaining traction across various end-user industries, this is expected to foster market growth. For instance, in June 2021, Indian banks such as SBI, HDFC Bank, ICICI Bank, and 12 others have come together to further widen the blockchain application for the processing of Letters of Credit (LCs/LoCs), GST invoices, and e-way bills. The project is expected to use Infosys’ Finacle Connect, a blockchain-based platform that enables digitization and automation of trade-related finance processes. For this to be implemented, the 15 banks have formed a company called Indian Banks’ Blockchain Infrastructure Co Pvt Ltd (IBBIC). 

Moreover, the several key producers of blockchain distributed ledgers such as Blockstream, Coin Sciences Ltd., and Well Fargo are expected to increase their footprint through joint ventures and mergers. In December 2021, Wells Fargo partnered with HSBC to use its blockchain tools for the settlement of bilateral foreign exchange (FX) transactions. By using the HSBC-developed FX Everywhere platform settling three million transactions to date worth $2.5 trillion.  Furthermore, in January 2022, Google Cloud announced a new digital assets team to support the customers’ needs in building, transacting, storing value, and deploying new products on blockchain-based platforms. The Google Cloud team provides several short- and long-term initiatives to support companies in the digital assets/blockchain ecosystem, this includes node hosting, remote procedure call (RPC), hosting several public BigQuery databases, including bitcoin, Ethereum, bitcoin cash, Dash, Litecoin, Zcash, Theta, Hedera Hashgraph, Band Protocol, IoTeX, Polygon, XRP, and Dogecoin. 

To Request a Sample of our Report on Blockchain Distributed Ledger Market:  https://www.omrglobal.com/request-sample/blockchain-distributed-ledger-market

Market Coverage

•             The market number available for – 2021-2029

•             Base year- 2021

•             Forecast period- 2023-2029

Segment Covered-

·                  By Enterprise Size

·                  By Application

·                  By End-User  

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

•                 Competitive Landscape includes- Depository Trust & Clearing Corp., Digital Asset Holdings, LLC, Elrond Network, Enterprise Ethereum Alliance, and others.

Blockchain Distributed Ledger Market– Segmentation

By Enterprise Size  

·                  Large Enterprises 

·                  Small & Medium Enterprises

By Application  

·                  Payments

·                  Smart Contracts

·                  Supply Chain Management

·                  Compliance Management

·                  Trade Finance

·                  Others

By End-User  

·                  BFSI

·                  Government & Public

·                  Manufacturing 

·                  Retail & E-Commerce

·                  Media & Entertainment

·                  Transportation & Logistics

·                  Healthcare

·                  Energy & Utilities 

·                  Others

A full Report of Blockchain Distributed Ledger Market is Available @  https://www.omrglobal.com/industry-reports/blockchain-distributed-ledger-market

Blockchain Distributed Ledger Market by Region 

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles 

·        Alchemy Insights, Inc

·        AlphaPoint Corp.  

·        Amazon aws

·        Auxesis Services & Technologies Pvt Ltd. 

·        Blockstream

·        Coin Sciences Ltd 

·        ConsenSys Software Inc.

·        Dapper Labs Inc.

·        Depository Trust & Clearing Corp. 

·        Digital Asset Holdings, LLC 

·        Elrond Network

·        Enterprise Ethereum Alliance

·        Financial Services Blockchain Consortium (Shenzhen)

·        Huobi Global Platform 

·        IBM  

·        Linux Foundation

·        NTT Data

·        oracle

·        Polygon Technology

·        Sky Mavis

·        TomoChain Lab Pte. Ltd

·        Zhejang Huawei Scientific Instrument Co. Ltd. 

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/blockchain-distributed-ledger-market

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

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