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In a recent published report, Kenneth Research has updated the Market report for Latin America Blockchain Technology Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Latin America Blockchain Technology Market Products.
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Blockchain technology is used to record Bitcoin transactions via a global network of computers. It is a continuous growing list of blocks (record) that are linked and secured using cryptography. Each new block created is connected to the previous block via a“cryptographic Hash. Latin America blockchain technology market is expected to grow at a CAGR of 30.3% (2018-2023) and generate a global revenue of USD 0.51 billion by 2023. Countries in this region have found Bitcoin to be the best solution to solve political instability, and fall in oil prices and other initiatives will make it possible for companies to acquire Blockchain solutions in the near future.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
Latin American banks are trying to find an alternative banking system to move away from traditional one. Approximately 51% of the population in Latin America and the Caribbean have bank accounts, prompting fintech starts-ups to have come up with an idea to provide alternative financial services to the masses. Start-up companies like Ripio and BITSO are making progress towards providing better customer services using blockchain technology.
Based on the countries, Latin America is divided into Argentina, Brazil, and the Rest of LATAM. Argentina and Brazil are expected to hold 50% of the market share.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Key growth factors:
o Latin America found Bitcoin to be helpful to attract businesses and expand the existing number of firms. The technology will help e-commerce firms like eBay, and Amazon that have already started their business in the region, to expand further.
o Latin America faces the problem of food security. The players in this region started using Blockchain technology to solve this problem. IBM has joined hands with Walmart to use blockchain technology in the supply chain to ensure food safety in pork and Mexican mangoes
Threats and key players:
o Though funding in Blockchain, start-ups in Latin America are showing an increasing trend, that there still lies a problem in understanding the technology. The lack of awareness among bankers about the technology posesa serious problem.
o The key players are BITSO, Microsoft Corporation, Ripio, Bitinka, and RSk Labs.
What's covered in the report?
o Overview of the Latin America technology market
o The current and forecasted market size data for the Latin America Blockchain technology market
o The current and forecasted market size data for the segments of the market – by industries– BFS (Banking and Financial services), Insurance, Supply Chain, Healthcare, others
o Market trends in the Latin America blockchain technology market
o Market drivers and challenges in the Latin America Blockchain technology market
o Current and forecasted regional (Argentina, Brazil, and Rest of LATAM) market size data for Latin America Blockchain technology market and its segments
o Analysis of company profiles of major players operating in the market
Why buy?
o Get a broad understanding of the Latin America Blockchain technology market and its segments- by type and by industries
o Get region-specific drivers and challenges affecting the Latin America Blockchain technology market
o Recognize significant competitors' business and market dynamics, and respond accordingly
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With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Latin America Blockchain Technology Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter's Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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Eli
Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.
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