Blockchain in Security Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, July 18, 2024 /EINPresswire.com/ -- The global blockchain in security market is projected to grow from $1.47 billion in 2023 to $2.07 billion in 2024, at a compound annual growth rate (CAGR) of 40.1%. Despite challenges from evolving cybersecurity threats and digital transformations, the market is anticipated to reach $8.03 billion by 2028 at a CAGR of 40.1%, driven by the increasing need for robust security measures and the rise of decentralized applications.
Rising Cybersecurity Threats Drive Market Growth The growing cybersecurity threats are a significant factor contributing to the growth of the blockchain in security market. Cybersecurity threats refer to malicious activities that compromise the confidentiality, integrity, or availability of information systems and data. Increased connectivity through more internet-connected devices, evolving cybercriminal tactics, and widespread adoption of digital technologies without adequate security measures have intensified these threats. 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, the Australian Cyber Security Centre reported over 94,000 cybercrime incidents during the financial year 2022-2023, a 23% increase from the previous year.
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Key Players and Market TrendsMajor companies operating in the blockchain in security market include 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., and Blockchain Foundry Inc. These companies focus on developing innovative technologies such as anti-scam technologies to enhance cybersecurity measures and protect against fraudulent activities. For instance, Baorui, a UK-based cryptocurrency trading platform, introduced blockchain anti-scam technology in May 2024, pioneering a new era in trading by thoroughly examining every transaction to prevent potential fraud.
Trends in Blockchain SecurityThe blockchain in security market is witnessing several key trends. These include the development of smart contracts for automated security protocols, integration with IoT to secure devices, incorporation of cybersecurity measures, privacy-enhancing technologies, multi-chain ecosystems, and quantum-safe cryptography. These trends are aimed at enhancing the security, efficiency, and reliability of blockchain solutions across various applications.
Segments:•Component: Platform, Services•Security Type: Private, Public, Hybrid•Size: Large Enterprises, Small And Medium Enterprises•Application: Transportation And Logistics, Agriculture And Food, Manufacturing, Government, Information Technology And Telecom, Insurance, Retail, Other Applications
Geographical Insights: North America Leading the MarketNorth America was the largest region in the blockchain in security market in 2023. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Blockchain In Security Global Market Report 2024 from TBRC covers the following information:•Market size data for the forecast period: Historical and Future•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Blockchain In Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blockchain in security market size, blockchain in security market drivers and trends, blockchain in security market major players, competitors' revenues, market positioning, and market growth across geographies. The blockchain in security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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July 18, 2024, 08:47 GMT
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