Smart Contracts Market 2019 Global Trends, Strategy, Industry Segments, Regional Study and Profit Growth by Forecast to 2023

August 26 23:59 2019
Smart Contracts Market 2019 Global Trends, Strategy, Industry Segments, Regional Study and Profit Growth by Forecast to 2023

Smart Contracts Market
Global Smart Contracts Market is expected to reach approximately 300 USD Million by the end of 2023 with 32% CAGR during the forecasted period from 2017 – 2023

Smart Contracts Market Overview:

The smart contracts is one of the application of the Blockchain technology that lets the organizations, government, legal bodies and even individuals to exchange the monetary values, properties, shares, bonds involving a value and a contract in a clear way avoiding any conflict without the need of a middlemen. The factor that hold the growth of the smart contract is the tendency of it to define the rules and regulations of an agreement but also automatically enforce any of the obligations. The smart contract can be used for any of the situations like from financial, insurance premiums, contract breaches, property law and much more. The smart contract has shown a descent growth and is expected to grow significantly in the forecasted period catering the end users like banking, government, insurance, real estate, supply chain among others. For government smart contracts can prove a next advanced step towards voting and other legal formalities and tenders issued by the government. These may include any agreement made between the government and the private or public enterprises.

The market for Smart Contracts Market is segmented on the basis of Blockchain platform, technology, end user and by region. On the basis of Blockchain platform, the segmentation is further divided into Bitcoin, Sidechains, NXT and Ethereum. Ethereum is the most advanced for coding and processing of the smart contracts and accounts for the large share followed by Bitcoin and NXT. On the basis of technology, the segmentation is done on the basis of Ethereum, Rootstock (RSK), Namecoin, Ripple among others. The market holds many of the end users such as banking, government, management, supply chain, automobile, real estate, insurance and healthcare.

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Major Key Players:

Monax Industries Limited (U.K.), Monetas (Switzerland), Blockstream Corporation (U.S.), Coinbase, Inc. (U.S.), Bitfinex (Hong Kong), BlockCypher, Inc. (U.S.), Chain, Inc. (U.S.), Coinify ApS (Denmark), BitPay, Inc. (U.S.), GoCoin Pte. Ltd (Singapore) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Contracts Market.

Smart Contracts Global Market Competitive Analysis:

The market of Smart Contracts Market appears to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.

Smart Contracts Market Segmentation:

The Smart Contracts market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Blockchain Platform: Bitcoin, Sidechains, NXT, Ethereum.

Segmentation by Technology: Ethereum, Rootstock (RSK), Namecoin, Ripple and others.

Segmentation by End – User: Banking, Government, Management, Supply chain, Automobile, Insurance, Real estate, Healthcare, among others

Segmentation by Regions: Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

Smart Contracts Market Regional Analysis:

North America is dominating the global smart contracts market with the largest market share due to increasing adoption towards digitization and among others, which are gaining demand in smart contracts market and is expected to gain growth by 2023.

Global Smart Contracts market in European market is expected to grow at a substantial high CAGR during 2017 to 2023 due to the increasing penetration of smart contracts in financial sector. The Asia Pacific market for smart contracts market is expected to grow at a considerable CAGR (2017-2023).

Intended Audience:

• Storage providers

• Network providers

• Banking Institutions

• Insurance providers

• Higher management

• Research firms

• Software investors

• Software Developers

• IT enablers

• Database solutions

• Cloud providers

• Insurance companies

• Banks

• Automotive and transportation

• Telecommunication companies

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Table of Contents:

1      Market Introduction

1.1     Introduction   

1.2     Scope of Study

1.2.1  Research objective

1.2.2  Assumptions

1.2.3  Limitations

1.3     Market Structure

2      Research Methodology

2.1     Research Smart Contracts

2.2     Primary Research

2.3     Secondary Research

2.4     Forecast Model

2.4.1  Market Data Collection, Analysis & Forecast

2.4.2  Market Size Estimation

Continued…

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