Blockchain Government Market to 2023 – Growing Steady at 84.5% CAGR and Projected to Reach US$ 3458.8 Million
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Browse and In-depth Table of Content on “Blockchain Government Market”
139-Number of Pages
10-Company Profile
33-Tables
32-Figure
The blockchain government market size is expected to grow from US$ 162.0 Million in 2018 to US$ 3,458.8 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 84.5% during the forecast period. The blockchain government market is driven by various factors, such as the growing interest in the adoption of blockchain technology by government agencies and increasing instances of fraudulent activities in the public sector.
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The application providers segment is the fastest growing segment in the blockchain government market. The blockchain government market has been categorized as, application providers, middleware providers, and infrastructure providers. The blockchain technology provides various applications for the government sector, such as smart contracts, voting, identity management, and payments.
APAC is expected to grow at the highest rate during the forecast period, due to the increasing government expenditure on the blockchain technology solutions to change the business processes in the government sector. Key financial hubs, and massive shipping and trading markets, including Hong Kong and Singapore, provide huge opportunities for the adoption of the blockchain in the public sector. Meanwhile, North America is projected to hold the largest market size.
Study Objectives:
The objective of the report is to define, describe, and forecast the blockchain government market by provider, application, and region. The report analyzes the opportunities in the market for stakeholders by identifying the high-growth segments of the market. It profiles the key players of the market and comprehensively analyzes their core competencies, such as new product launches, partnerships, agreements, and collaborations. The report also covers detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.
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