7Newswire
23 Oct 2021, 07:32 GMT+10
The increased interest of the public sector in blockchain technology and rising cases of fraudulent activities are driving the market for blockchain in government.
Market Size - USD 189.2 Million in 2018, Market Growth - CAGR of 81.0%, Market Trends - High demand for transparency and decentralized government.
The global blockchain in government market is forecast to reach USD 22.03 Billion by 2026, according to a new report by Reports and Data. Blockchain brings digital technology into real-time computing systems management. The market has the ability to change aspects of digital technology, which includes the method of conducting business, enhancing education, delivering healthcare, shopping, learning, social media, and entertainment.
Blockchain technology in the government sector are using the services to build transparent, open, and collaborative networks. The technology is a potential vehicle to improve government services and stimulate more transparent government-citizen relations. The technology works dramatically to optimize the business process through secure and more efficient data sharing.There are numerous possible application of blockchain in the government market. Through this technology, the government can eliminate bureaucracy, reduce waste, prevent tax fraud, and improve the way they deliver services. Digital cash transactions can help transform the financial transactions between the government and its citizens.
Key participants include IBM, SAP, Oracle, Microsoft, Accenture, Infosys, AWS, Deloitte, Intel, and Ripple, among others.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/blockchain-in-government-market
For the purpose of this report, Reports and Data have segmented into the global blockchain in government market on the basis of provider, application, type, and region:
Provider Outlook (Revenue, USD Billion; 2016-2026)
Application Outlook (Revenue, USD Billion; 2016-2026)
Type Outlook (Revenue, USD Billion; 2016-2026)
Regional Outlook (Revenue, USD Billion; 2016-2026)
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
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