India Blockchain Technology Market Size Research Report Focu...| MENAFN.COM

Tuesday, 05 July 2022 09:19 GMT

India Blockchain Technology Market Size Research Report Focuses On Top Companies And Crucial Drivers, Current Growth Dynamics, Future Trends, Industry Share Analysis & Forecast 2022 To 2031


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A report on India Blockchain Technology Market was recently added by Kenneth Research into its database, which is aimed at providing the clients with the business growth and investment opportunities present in the market all around the world. The report covers various parameters on the basis of which the market is evaluated, including the market size, market volume and the growth rate observed by the market over the forecast period, i.e., 2022-2031 .

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 India Blockchain Technology Market Products.

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The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.

India Blockchain Technology Market

Blockchain technology is used to record Bitcoin transactions via a global network of computer. It is a continuously growing list of blocks (records) that are linked and secured using cryptography. Each new block created is connected to the previous block via a“cryptographic Hash”. Blockchain technology is expected to see an increasing adoption among the Indian banks. Private and public companies are exploring blockchain to improve efficiency to ensure transparency.

56% of Indian businesses are moving towards Blockchain technology, making the technology a part of their core business. The key areas the technology is expected to make its maximum impact are payment and fund transfer, post-trade settlements, and digital identity. State governments are conducting trials within their departments. The government of Andhra Pradesh collaborated with various Blockchain start-ups such as Snapper Technologies, and SimpleFy to explore the administrative processes. The state government of Andhra Pradesh is going to integrate its own e-program with Blockchain technology by 2019.

By industry, Blockchain technology has a wide range of applications in India. Finance minister Arun Jaitley stated that the government is looking forward to utilizing Blockchain technology across various sectors to streamline the activities. The Banking and Financial Services sector is expected to make the maximum use of this technology. The Indian government is making a massive investments in the healthcare sector to provide health coverage to low-income families. Blockchain technology is expected to drive this initiative.

Key growth factors:
o The digital adoption in India is one of the major factors driving Blockchain technology adoption.
o Accordingly the report of ASSOCHAM, about 19% of the Indian population is without bank accounts. Blockchain technology is expected help this part of population create digital identities and help them access banking and financial services.

Threats and key players:
o Adoption of Blockchain technology faces severe challenges. The major reason is lack of awareness with regard to nature of Blockchain platforms.
o The other challenges are integrating challenges, selection of vendor/ platform
o The top five Blockchain developers in India are S-PRO, Consagous Technologies, 10Clouds, Sofocle Technologies, and Sate Development.
o The top Blockchain consulting firms are Microsoft Corporation, Deloitte, Tata Consultancy Services, and Wipro

What's covered in the report?
o Overview of the India Blockchain Technology Market
o The current and forecasted market size data for the India 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 India Blockchain Technology Market
o Market drivers and challenges in India Blockchain technology market
o Analysis of company profiles of the major players operating in the market

Why buy?
o Get a broad understanding of the India Blockchain Technology Market and its segments- by Industries
o Get region-specific drivers and challenges affecting the India Blockchain technology market
o Recognize significant competitors' business and market dynamics, and respond accordingly

Customizations Available
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at .

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The Market report answers the following questions:

What is the aim of the report?

  • The India Blockchain Technology Market report presents the estimated market size of 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 Players
  • 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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About Kenneth Research:

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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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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