Skip to main content

Distributed Ledger Technology Market Increasing Demand from End-Use Industry to Amplify Industry Demand Globally

A distributed ledger is a synchronized and decentralized digital database software system. It maintains all transaction information in a decentralized manner across different locations, by reducing the requirement of a central authority for checking against manipulation. It permits any online transactions or data storage to be safe by preventing the probability of cybercrime as all the consumers are able to see all transactions, and the data is stored in a register. A digital ledger can securely and accurately store all this information with the help of cryptography, which can be accessible only by using cryptographic signatures.

Request PDF Brochure for Sample Purpose @ https://www.coherentmarketinsights.com/insight/request-pdf/1131

Distributed Ledger Technology applications
Blockchain is a type of distributed ledger technology. Blockchain technology is a decentralized software program that establishes a digital register, which enables in protected online payment transactions. These transactions are recorded in the register from a number of computers. The register maintains a continuous set of data containing information about the transaction records without changing the transaction information. The data in the register is maintained in the form of lists, which are organized in Blocks for each time period. These Blocks consists of information about the transactions, and provides a reference to the previous Block, thus, the present Block links to the prior Block to form a Blockchain. Generally, one Block contains the information about a set of transactional records for a particular period of time or fixed memory size.

Importance of Distributed Ledger Technology
Distributed ledger technology based transactions enable faster, safer, and economical transactions as compared to conventional transaction systems. This is due to the fact that conventional transaction systems refer to central administrator or centralized data storage system. Moreover, distributed ledger technology can be used to build a permanent and transparent ledger system for gathering data on exchanges, real-time tracking of digital transaction and payments, and to prevent frauds and errors. All the information stored in distributed ledger becomes unchangeable, and can be accessible from each node of a network as it becomes identical replica. Hence, if any changes are made in the register, it will be reflected and copied to every user’s database within a span of seconds. Therefore, digital ledgers are more secure and to make a successful cyber-attack, a hacker needs to attack all the distributed copies, simultaneously.


Regional Insights
The distributed ledger technology market is segmented on the basis of geography including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa regions. The market in North America is expected to be dominant in the global market. This is owing to rising awareness and increasing applications of this technology in various segments. For instance, according to IoT Newsletter Organization in 2017, U.S. Department of Energy is exploring the application of blockchain technology for the management of next-generation power grids. This in turn boosting growth of the distributed ledger technology market.

Rising demand for e-Commerce in emerging economies such as China and India is another factor for growth of the markets. According to Coherent Market Insights’ analysis, in 2016, China accounted for over 63% of digital buyers in Asia Pacific followed by India and Japan. Hence, Asia Pacific accounted for over 10% of global retail e-Commerce sales in 2016. This is owing to increasing implementation and improving blockchain services in this region. Blockchain is used in e-Commerce for gathering data on exchanges, real-time tracking of digital transaction, and payments. Increased adoption and development of Bitcoin in China is expected to fuel growth rate of blockchain market, which is expected to in turn boost growth of the distributed ledger technology market in Asia Pacific.

Competitive Insights
The key market players in the distributed ledger technology industry include IBM Corporation, Microsoft Corporation, Amazon.com, Inc., SAP SE, Intel Corporation, Samsung Group, NVIDIA Corporation, Xilinx, Inc., AMD, Inc., Siemens AG, Accenture Plc, and Infosys Ltd.

Labels:

Comments

Post a Comment

Popular posts from this blog

Ethernet Switches Market Set Explosive Growth to 2026

An Ethernet switch is a multiport LAN interconnection device that supports large number of segments in a packet switching network. It logically divides the traffic towards the segment between the source and destination, which allows for efficient utilization of bandwidth. Along with efficient routing the other benefits of Ethernet switches are increased security as data is routed only to the desired destination, better management, and ability to use some links in full duplex. Download PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/1815 Advancements in technology is the major factor driving growth of the Ethernet switch market Advancements in technology such as big data and cloud computing, is increasing the accessibility to internet for personal purpose, commercial as well as industrial purposes. For IT organizations, big data is used for purposes other than for deploying new application or software, such as Hadoop. These advancements increase the d...
Post a Comment
Read more

Automotive Collision Avoidance System Market Comprehensive Study by Key Players, Size, Share Till 2026

A lot of the vehicular accidents reported worldwide can be effectively curbed by the implementation of efficient safety systems such collision avoidance systems. These systems are increasingly being deployed in various applications such as aerospace, marine, industrial robotics, and unmanned autonomous vehicles to ensure enhanced safety. Collision avoidance system primarily integrates radar and/rear- and front-mounted cameras to constantly monitor the vehicular traffic immediately ahead and behind the vehicle. Download PDF To explore detail study @ https://www.coherentmarketinsights.com/insight/request-pdf/1128 The system constantly tracks scans the immediate surroundings of the automotive and alerts the driver if it detects any impending collision or if the vehicle veers off the lane. In case the driver fails to respond, it may deploy emergency brakes in order to avert a collision. The rising installation of sensors technology in automotive and increasing road accidents are so...
Post a Comment
Read more

Content Delivery Network Market Regional Share and CAGR% Report Analysis During 2018-2026

A content distribution network or content delivery network (CDN) is a system distributed network that delivers webpages or different web content data across various geographical locations. Content delivery network delivers a large portion of online content, including web objects (scripts, graphics and text), downloading objects (documents, software, and media files), applications (portals and e-commerce), social networking, on-demand streaming media, and live streaming media. Download PDF To explore detail study @ https://www.coherentmarketinsights.com/insight/request-pdf/1155 Market Dynamics On the basis of geography, the content delivery network market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific region is projected to exhibit the highest CAGR over the forecast period. India, China, and Japan are some of the major countries driving the content delivery network market in this region. Increasing number of internet users a...
Post a Comment
Read more