Global Blockchain Market Analysis/Forecast Report 2021-2028: Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical & Application of Blockchain in Vaccine Manufacture and Tracking – ResearchAndMarkets.com – Yahoo Finance

DUBLIN, February 28, 2022–(BUSINESS WIRE)–The "Blockchain Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component, Application, and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The global blockchain market is expected to grow from US$ 4,935.0 million in 2021 to US$ 227,996.6 million by 2028; it is estimated to grow at a CAGR of 72.9% from 2021 to 2028.
Post the financial crisis in 2008, Bitcoin and other cryptocurrencies entered the financial sector and gradually gained a lot of prominence. However, with recent developments and uncertainties crowding the cryptocurrency space, its future is unclear.
While the future cryptocurrency is still speculative, the underlying technology Blockchain has emerged as a prime technology with huge potential to open many opportunities across various industries. The Blockchain market's popularity is growing exponentially with successful use cases in various industries, ranging from BFSI to media and entertainment.
In terms of technology adoption and use cases, the BFSI industry is leading the market worldwide. Blockchain solutions are being implemented in payments, remittances, identity management, fund processing, dispute management, risk management, and many other applications.
The BFSI sector has been held back due to limitations and obsolete aspects of the mainframe computing technology; however, with the BFSI industry moving into the advanced age of real-time transaction processing, Blockchain is a principal facilitating technology.
This technology has become progressively attractive to the BFSI sector for its tamper-proof ledger. With big market players such as IBM, Accenture, and Microsoft, more Blockchain solutions are being implemented across major banks and insurance companies.
When it comes to Blockchain solution providers, IBM holds a prominent place in the market. The company provides a Blockchain platform for various industries.
For instance, with the help of IBM's Blockchain platform, banks can create secure, low-cost, and high-volume cross-border payments. There are numerous examples of the successful implementation of Blockchain in the BFSI sector worldwide. Aeternity, Inc. provides a Blockchain platform that can be used for any application that requires high transactional speed, including smart contracts.
With an increasing number of well-established market players and startups entering the BFSI Blockchain market, it is expected that the BFSI segment will drive the Blockchain market during the forecast period.
North America is among the worst-hit regions by COVID-19. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients.
The Blockchain market is projected to provide several security features, including decentralization, encryption, and cryptography, to safeguard healthcare industry privacy following the outbreak of COVID-19. The COVID-19 pandemic has resulted in a surge in eCommerce demand.
Technologies such AI, ML, and Blockchain are beginning to drive company innovation initiatives to function successfully in a pandemic, fueling the adoption of BaaS solutions among SMEs. Following the onset of the COVID-19 pandemic, businesses are using fintech and blockchain technologies to streamline and modernize their operations. This could lead to a rise in the number of companies offering contactless transactions and revamped financial services.
The pharmaceutical business is likely to benefit from the blockchain market. The technique is being hailed to overcome the logistical difficulties of administering the COVID-19 vaccination. Blockchain is being utilized to ensure the correct distribution of the COVID-19 vaccine and maintain the track of vaccine maintenance and storage.
Key Market Dynamics
Market Drivers
Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical
High Transparency and Operational Efficiency with Substantial Cost Savings
Increase in Innovative Start-ups Worldwide
Market Restraints
Data Privacy, Confidentiality, and Security Concerns
Unclear Regulatory Environment
Interoperability, Scalability, and Sustainability Challenges
Market Opportunities
Rising Government Support and Initiatives Worldwide
Increasing Demand for Blockchain-as-a-Service Due to COVID-19 Pandemic
Future Trends
Combination of Blockchain and Artificial Intelligence for Advanced Applications
Application of Blockchain in Vaccine Manufacture and Tracking
Companies Mentioned
IBM Corporation
Microsoft Corporation
Accenture
Amazon
SAP SE
Bitfury Group Limited
Ripple Labs Inc.
Hewlett Packard Enterprise Development LP (HPE)
Oracle Corporation
Intel Corporation
For more information about this report visit https://www.researchandmarkets.com/r/3bm2ca.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220228005936/en/
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Yahoo Finance's Pras Subramanian details the Q4 earnings miss from Lucid Motors as the EV manufacturer forecasts expected supply chain pressures.
(Bloomberg) — Russia banned its residents from transferring hard currency abroad, as President Vladimir Putin sought countermeasures against countries imposing sanctions over the invasion of Ukraine. Most Read from BloombergBelarus Preparing to Send Soldiers, Report Says: Ukraine UpdateWorld’s Biggest Plane Destroyed in Russian Attack on AirfieldPutin Retaliates as Sanctions for Invasion Swell: Ukraine UpdateSWIFT Russian Ban Could Force Fed to Step In, Credit Suisse SaysUkraine Fighting Oversh
Jefferies reveals five winners from a budding race to increase spending on the military in the wake of Russia's invasion of Ukraine.
Shares of Chinese electric car leader Nio (NYSE: NIO) jumped in early trading Monday after the company announced, Sunday night, that it will conduct a secondary listing of its Class A ordinary shares on the Main Board of the Stock Exchange of Hong Kong. Nio stock is up a solid 7% as of 10:40 a.m. ET. Nio says its shares will begin trading in Hong Kong on March 10, in lots of 10 shares.
The software outfit relies heavily on workers located in the areas most impacted by recent military conflict.
Yahoo Finance's Jared Blikre breaks down fourth-quarter earnings for Zoom.
Intellia successfully lowered a problematic protein in patients with a liver disease on Monday, but NTLA stock fell on a patent decision.
Concerns over Russia sanctions leading to a spike in oil prices sent oil higher and Occidental's stock with it. The company is also rapidly paying down debt.
Investors are optimistic about the loan approval platform company again, and there are more than a few reasons why.
The market is high on this hydrogen stock today. Does that mean that fuel-cell investors should stay away?
Shares of electric cars leader Tesla (NASDAQ: TSLA) jumped in early trading Monday after its car battery partner Panasonic announced it will produce Tesla's new 4680 lithium ion batteries at a production facility in Japan — perhaps in as little as one year from now. Tesla stock is up 4.7% in response as of 10:25 a.m. ET. The 4680 is a new kind of lithium ion battery, first revealed at Tesla's Battery Day presentation in 2020.
Shares of oil tanker owner Nordic American Tankers (NYSE: NAT) jumped by as much as 27.6% in trading on Monday after it was announced that an insider was buying shares. The big news was that on Monday, board of directors member Alexander Hansson — son of founder and CEO Herbjorn Hansson — bought 250,000 shares of Nordic American stock for $2.05 per share. Alexander Hansson's purchase came on the heels of the delivery of the company's fourth-quarter earnings report Friday.
Shares of Viatris (NASDAQ: VTRS), the biopharmaceutical company behind the Epi-Pen and Lipitor, are falling in response to the company's fourth-quarter earnings call. The average investment bank analyst following Viatris expected a $0.23 per share profit in the fourth quarter. The average analyst who follows Viatris expected the company to forecast $17.6 billion.
What happened Shares of Ocugen (NASDAQ: OCGN) were jumping 8.2% as of 12:04 p.m. ET on Monday. The gain reflected continued momentum for the stock after the company announced its fourth-quarter and 2021 full-year results on Friday.
(Bloomberg) — With Russia’s stock market closed, U.S. exchange-traded funds are signaling the scale of the rout facing the nation’s equity market.Most Read from BloombergBelarus Preparing to Send Soldiers, Report Says: Ukraine UpdateWorld’s Biggest Plane Destroyed in Russian Attack on AirfieldPutin Retaliates as Sanctions for Invasion Swell: Ukraine UpdateSWIFT Russian Ban Could Force Fed to Step In, Credit Suisse SaysUkraine Fighting Overshadows Chance of Russia Talks’ SuccessThe VanEck Russia
Shares in Russia’s biggest state-controlled lender Sberbank have plunged as much as 74pc, as the European Central Bank warned it faced collapse. London-listed shares in Sberbank hit a record low on Monday, after The Sunday Telegraph revealed that City law firms were preparing for the sanctions against the bank this week. The European Central Bank warned that “owing to a deterioration of their liquidity situation”, Sberbank and its subsidiaries were “failing or likely to fail”.
The financial sector largely lagged the market, but Citigroup (NYSE: C) was the worst performer out of the big banks. The main catalyst for the move is Citigroup's recently reported exposure to Russia. Citi is by far the most international of the big U.S. banks, with operations throughout the world.
It's a step into the sustainability market for the maker of feminine care brands including Kotex.
Lucid Group Inc.'s shares swelled Monday on anticipation of its fourth-quarter results — before losing all their gains and more in the wake of its actual report. The Newark company also announced results that missed analysts' expectation and its previous forecasts.
Viatris stock tumbled Monday after reporting earnings and a plan to sell its biosimilars portfolio to Biocon Biologics. The deal closes later this year.

source