NEW YORK, Aug. 29, 2019 (GLOBE NEWSWIRE) -- The global Blockchain government market is expected to grow at a CAGR of 85.0% during the forecast period with its market size predicted to reach USD 6,399.0 million by 2024. Global blockchain government market has been driven by several key factors, including increasing adoption of blockchain from government sector, and growing cases of fraudulent activities in the public sector, increasing need to provide protection against data tempering, Rise in the usage of blockchain technology to create transparent and decentralized government, and increasing demand for high efficiency and high speed in government sector.

Globally, blockchain industry players are leveraging market growth through the formulation of several policies and reforms by a government organization in various developed as well as developing economies along with entering into several partnership agreements. The key players in blockchain market are launching new link for various supply chain experts. Furthermore, there are several software development enterprises that are embracing the technique at an extensive rate as it helps them in fighting against fraudulent activities.

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Application provider category is expected to witness fastest growth during the forecast period in the blockchain government market

Based on provider, the global blockchain government market is categorized into middleware provider, application provider, and infrastructure provider, wherein application provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing adoption of technologically advanced blockchain solutions in government agencies.

Explore key industry insights in 51 tables and 30 figures from the 120 pages of report, “Global Blockchain Government Market Analysis and Forecast to 2024 - Industry Insights by Industry Insights by Provider (Middleware Provider, Application Provider, and Infrastructure Provider), by Application (Asset Registry, Identity Management, Payments, Smart Contracts, Voting, Others)”

Geography Insight

Geographically, North America has accounted for the largest share in blockchain government market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of players of blockchain technology in the region and also it is considered as the most advanced region in terms of advanced technology adoption.

Competitive Insight

Some of the key players operating in the global blockchain government market are IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Infosys Limited, Accenture plc, Intel Corporation, BigchainDB GmbH, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.

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Key Takeaway from the Report:

• Among all the providers, application provider category is expected to witness the fastest growth during the forecast period.
• Of all the application, smart contracts category contributes the largest revenue globally.

The Report Offers:

• Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global blockchain government market on the basis of provider, application, and region.

Global Blockchain Government Market Coverage

Provider Insight and Forecast 2014-2024

• Middleware Provider
• Application Provider
• Infrastructure Provider

Application Insight and Forecast 2014-2024

• Asset Registry
• Identity Management
• Payments
• Smart Contracts
• Voting
• Others

Geographical Segmentation

Blockchain Government Market by Region

North America

• By Provider
• By Application
• By Country – U.S., Canada, and Mexico

Europe

• By Provider
• By Application
• By Country – Germany, U.K., France, and Rest of Europe

Asia-Pacific (APAC)

• By Provider
• By Application
• By Country – China, Japan, India, Singapore, Australia, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Provider
• By Application
• By Country – Brazil, Saudi Arabia, South Africa, and Other Countries

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