Market Size –
The blockchain in security market size has grown exponentially in recent years. It will grow from $1.47 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 40.1%. The growth in the historic period can be attributed to increase in venture capital and investment, increased government initiatives, increased awareness of the benefits, rise of decentralized applications, and collaboration of financial institutions.
The blockchain in security market size is expected to see exponential growth in the next few years. It will grow to $8.03 billion in 2028 at a compound annual growth rate (CAGR) of 40.1%. The growth in the forecast period can be attributed to increasing need for reduced troubleshooting, rising cryptocurrency and Initial coin offerings, growing healthcare and educational sectors, increasing digital, transformation, and growing cybersecurity threats. Major trends in the forecast period include smart contracts for automated security protocols, integration iot to secure devices, integration of cybersecurity, privacy-enhancing technology, multi-chain ecosystems, and quantum-safe cryptography.
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Scope Of Blockchain In Security Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Blockchain In Security Market Overview
Market Drivers –
The growing cybersecurity threats are expected to propel the growth of the blockchain-in-security market. Cybersecurity threats refer to any malicious activities that attempt to compromise the confidentiality, integrity, or availability of information systems and data. The growing cybersecurity threats can be attributed to factors such as increased connectivity through more internet-connected devices, the evolving tactics of cybercriminals, and the widespread adoption of digital technologies without adequate security measures. Blockchain’s decentralized and immutable nature offers unparalleled protection against malicious attacks, making it a compelling choice for safeguarding sensitive data and transactions in various industries. For instance, in November 2023, according to the Department of Defence Australia, an Australia-based government department, during the financial year 2022-2023, the Australian Cyber Security Centre received over 94,000 reports of cybercrime, marking a 23 percent increase from the previous year, 2021-22. Therefore, the growing cybersecurity threats are driving the growth of the blockchain security market.
Market Trends –
Major companies operating in the blockchain security market are developing innovative technologies such as anti-scam technologies,0 to enhance cybersecurity measures and protect against fraudulent activities. Blockchain security technologies encompass a range of cryptographic techniques and decentralized consensus mechanisms designed to protect digital assets and transactions from unauthorized access, tampering, or manipulation. For instance, in May 2024, Baorui, a UK-based cryptocurrency trading platform, introduced blockchain anti-scam technology, pioneering a new era in trading. This cutting-edge technology thoroughly examines every transaction, identifying and preventing any potentially fraudulent activity. It expertly monitors and interprets complex transaction patterns, guaranteeing the security of user transactions on the BAORUI platform.
The blockchain in security market covered in this report is segmented –
1) By Component: Platform, Services
2) By Security Type: Private, Public, Hybrid
3) By Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Transportation And Logistics, Agriculture And Food, Manufacturing, Government, Information Technology And Telecom, Insurance, Retail, Other Applications
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Regional Insights –
North America was the largest region in the blockchain in security market in 2023. The regions covered in the blockchain in security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the blockchain in security market are Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, Accenture PLC, IBM Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Huawei Technologies Co Ltd., Infosys Technologies Private Limited, Horizen Labs Inc., SlowMist Technology Co Ltd., Bitfury Holding B.V., LeewayHertz Technologies Inc., Guardtime USA Inc., CertiK, Hacken OÜ, Ankr Network, OpenZeppelin, Trail of Bits Inc., ConsenSys Inc., BlockCypher Inc., Oasis Labs Inc., Securosys SA, Quantstamp Inc., Blockchain Foundry Inc.
Table of Contents
1. Executive Summary
2. Blockchain In Security Market Report Structure
3. Blockchain In Security Market Trends And Strategies
4. Blockchain In Security Market – Macro Economic Scenario
5. Blockchain In Security Market Size And Growth
…..
27. Blockchain In Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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