AE Research recognized Accubits Technologies as one of the top Blockchain companies in its recently published market research titled – Blockchain Platforms Market Report 2020. The objective of the report was to help companies make better decisions by highlighting new trends and identifying future growth prospects. The impact of the COVID-19 pandemic at the global and regional levels has also been outlined.
Blockchain technology is one of the most promising upcoming technological trends in the information technology domain. It has helped revolutionize several industries by providing greater security and transparency in transactions. It enables governments, organizations, institutions, and businesses to create records that are highly secure and more resistant to corruption.
The global blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 67.3% during 2020–2025. The technology in the banking and financial services is expected to experience rapid growth worldwide, due to various factors, such as high compatibility with the financial services industry ecosystem, rising cryptocurrencies and Initial Coin Offerings (ICOs), rapid transactions, and reduced total cost of ownership.
Market Study’s report analyzed the changing competitive landscape in the blockchain industry. The key companies that were mentioned along with Accubits Technologies included Oracle, IBM, Amazon Web Services, and Microsoft.
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Blockchain Platforms Market Report 2020: Read report