By technology the market is segmented into Public, Private, Consortium and Hybrid. The Hybrid blockchain technology is witnessing a significant growth in the market owing to its several benefits like data transparency, data flexibility and data security. By accessing the hybrid blockchain the enterprises can choose the data that can be kept public and data that is required to keep private. It gives transparency for the data owing to which it is widely used by the various enterprises. Furthermore, when the data is applied to multiple public block chains the data it increases the security of the transactions. In addition, it has lower transaction costs as influential nodes in the network make it easy to verify the transaction owing to which it is adopted widely by the end users driving the growth of the market.
By Network – Segment Analysis
By Network Blockchain in Infrastructure Market is segmented into Centralized and Decentralized. Centralized blockchain technology is dominating the market as only known and identical parties can do transactions in the ledger technology. As only the reputed organizations and persons could participate in the centralized blockchain their transactions are audited. The early blockchain adopters consider permissioned blockchains as they consider centrally managed blockchains owing to which these end users are going for centralized blockchain fueling the growth of the market.
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Geography – Segment Analysis
Global Blockchain in Infrastructure Market is dominated by North America region withy a market share 41.4% in 2019. The surge in adoption of blockchain technology for various end user applications along with securely keeping the records of the financials is driving the growth of the market in this region. Furthermore, the rise in the infrastructural activities like construction and transportation, real estate and others are also boosting the growth of the market in this region. According to Statista, In United States number of Fedic-Insured commercial banks is 4708, among which average net interest margin of banks is 3.35% and the value of loans in the commercial banks is 14.8 trillion USD in February 2020.
Drivers – Blockchain in Infrastructure Market
- Rise in adoption of more secured and integrated software technologies for business applications:
Rise in adoption of more secured and integrated software tools for storing of financial records are driving the growth of the market. The use of centralized blockchain technology for the various applications are adapted by most of the end users like financials, government sectors, construction and real estate sectors owing the security
Purposes and data transparency. Most of the banking and financial sectors are adopting the blockchain technology owing to keep their financial data records efficiently. Rapid transactions, low infrastructure cost along with reduced cost of ownership are also driving the market growth.
- Rise in usage of internet applications:
The rising demand for supply chain management systems has given rise in the use of blockchain technology. The rise in penetration of internet usage has also driven the market growth. Almost all the industries are using internet applications for their asset management, tracking of financial records and supply chain management services. This has also driven the growth of blockchain technology in the infrastructural asset records keeping. As BFSI and banks are using high speed internet and therefore the rise in use of blockchain technologies has increased globally.
Challenges – Blockchain in Infrastructure Market:
- High Cost and low speed:
Deployment of blockchains and have built in advantages several other advantages like financial monetary advantages but blockchains have very low speed and high cost. Blockchains are even slower than the centralized database. These factors are hindering the growth of the market.
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Launches, acquisitions, and R&D activities are key strategies adopted by players in the Blockchain in Infrastructure Market are given in this report Blockchain in Infrastructure Market is dominated by major companies such as, IBM, SALT Lending, Circle, Coinbase, Voatz, Steem, Chronicled, Shipchain, Mythical Games, and Chronicled among others.
- December 19, 2020- Infosys Launched three comprehensive power distribution blockchain applications.
- October 11, 2019-IBM launched sterling supply chain suite. It is a hybrid cloud support data for the manufacturers and retailers.