Blockchain Technology Market Size Worth $72 billion by 2027 - KBV Research -- KBV Research

December 2024

Blockchain Technology Market Size Worth $72 billion by 2027 - KBV Research

NEW YORK - May 17, 2021 - PRLog -- According to a new report Global Blockchain Technology Market, published by KBV research, The Global Blockchain Technology Market size is expected to reach $72 billion by 2027, rising at a market growth of 51.8% CAGR during the forecast period.

A private blockchain is basically a shared ledger, which is safeguarded by conventional security techniques like limited user rights. In general, the security is offered to a private blockchain utilizing private keys, which are known only by the organization associated to it. Under a private blockchain, all the rights & permissions are centralized to one organization. Read permissions can also be limited in an organization depending on its usability. A private blockchain offers better & more opportunities to companies by optimally using the blockchain technology for business-to-business cases.

The infrastructure and protocols market segment obtained the major revenue share and dominated the market in 2020. The growing demand for blockchain standards & protocols like Openchain, Ethereum, and Hyperledger is contributing to the growth of this segment. Protocols allow blockchain developers to create personalized and distributed networks for their users. Therefore, this segment will witness a surge due to the advantages provided by these protocols and infrastructure.

Global Blockchain Technology Market Segmentation

By Type