Blockchain Technology Revolutionizes Governments, Creating a $704.1 Billion Market Opportunity by 2030

DUBLIN, Aug. 3, 2023 /PRNewswire/ — The “Blockchain Government – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.

This report focuses on the rapidly growing sector of the Government industry that utilizes blockchain technology to improve efficiency and security in government operations The report highlights the use of blockchain technology as a distributed ledger system to facilitate secure and transparent transactions. Governments around the world are adopting blockchain to streamline processes, reduce costs, improve security, and enhance data integrity.

Market Projections

The global market for Blockchain Government was estimated at US$7.2 Billion in 2022 and is projected to reach US$704.1 Billion by 2030, growing at a CAGR of 77.3% over the analysis period 2022-2030. The Application Providers segment is expected to record an 83.2% CAGR and reach US$421.9 Billion by the end of the analysis period.

Regional Analysis

The report provides a comprehensive analysis of the global Blockchain Government market across various geographic regions. The market in the U.S. was estimated at US$2.2 Billion in 2022, while China, the world’s second-largest economy, is forecast to reach US$94 Billion by 2030, with a CAGR of 71.1% over the analysis period 2022 to 2030.

Market Segmentation

The report categorizes the market into different segments, including Application Providers, Middleware Providers, Infrastructure Providers, Smart Contracts, Payments, Asset Registry, Voting, Identity Management, and Other Applications. For each category, the report offers independent analysis of annual sales in US$ thousand and percentage CAGR for the forecast period.

Key Players

The “Blockchain Government – Global Strategic Business Report” profiles major players in the industry, including:

• Accenture
• Auxesis Group
• AWS
• Bigchaindb
• Bitfury
• Blockchain Foundry
• Blocko
• Brainbot Technologies
• BTL
• Cegeka

For more information about this report visit http://www.researchandmarkets.com/r/9fho2p

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SOURCE Research and Markets