Smart Contracts Market size worth $ 770.52 Million, Globally, by 2028 at 24.55% CAGR: Verified Market Research®

Increasing adoption of various applications in industries such as supply chain, banking, government, insurance, and real estate, and Blockchain technology are primary factors for driving the growth of the Global Smart Contracts Market.

Jersey City, New Jersey, Dec. 01, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Smart Contracts Market” By Blockchain Platform (Bitcoin Ethereum, NXT, and Sidechains), By Technology (Ethereum, Namecoin, Ripple), By End-User (Automobile, Government, Supply Chain Management), and By Geography. According to Verified Market Research, the Global Smart Contracts Market size was valued at USD 144.95 Million in 2020 and is projected to reach USD 770.52 Million by 2028, growing at a CAGR of 24.55% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=38237

Browse in-depth TOC on “Smart Contracts Market”

202 – Pages

126 – Tables

37 – Figures

Global Smart Contracts Market Overview

The use of smart contracts in automation includes self-executing computer programs, which makes it possible to automize processes, payments to enhance efficiency fuelling the global smart contracts market. Furthermore, rising government initiatives in blockchain technology boost the growth of the global smart contracts market. Using smart contracts results in the elimination of errors that occur due to the manual filling of numerous forms. The demand for smart contracts is growing rapidly due to the above-mentioned benefits, ultimately supporting the growth of the global smart contracts market. The rising application of smart contracts in various industries such as banks, government, healthcare, financial services companies, and supply chains are expected to fuel the market growth. Furthermore, due to privacy issues, only specified persons would have access to the documents. Similarly, smart contracts may be used to conduct research in a private and secure manner.

However, blockchain technology is involved in the smart contract but the lack of standardization and interchangeability of the blockchain technology creates a challenge in developing smart contracts and this factor is anticipated to hamper the growth of the global smart contracts market. Also, Smart contracts aren’t always able to manage confusing terms and conditions since contracts involve terms that aren’t always understood.

Key Players

The major players in the market are Coinbase, Coinify ApS, Chain, Inc., Blockstream Corporation, Monax Industries Limited, BitPay, Inc., and others.

Verified Market Research has segmented the Global Smart Contracts Market On the basis of Blockchain Platform, Technology, End-User, and Geography.

• Smart Contracts Market, By Blockchain Platform
  • Bitcoin
  • Ethereum
  • NXT
  • Sidechains

• Smart Contracts Market, By Technology
  • Ethereum
  • Namecoin
  • Ripple
  • Rootstock (RSK)
  • Others

• Smart Contracts Market, By End-User
  • Automobile
  • Government
  • Supply Chain Management
  • Others

• Smart Contracts Market by Geography
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • ROW
    • Middle East & Africa
    • Latin America

Browse Related Reports:

Narrowband IoT Market By Component (Software, Services, Hardware), By Application (Smart Agriculture, Pollution Monitoring, Predictive Maintenance), By End User (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028

Blockchain In Telecom Market By Application (Smart Contracts, Identity Management, Connectivity Provisioning, OSS/BSS Processes, Payments), By Geography, Forecast, 2021-2028

Third Party Logistics Market By Mode of Transport (Roadways, Railways, Waterways), By Service Type (Dedicated Contract Carriage (DCC), Domestic Transportation Management, International Transportation Management), By Geography, Forecast, 2021-2028

Medical Device Outsourcing Market By Service (Contract Manufacturing, Quality Assurance, Regulatory Affairs Services, Product Design and Development Services), By Application (Cardiology, Diagnostic imaging, Orthopedic, IVD, Ophthalmic, General and plastic surgery), By Geography, Forecast, 2021-2028

Top 10 conversational AI platforms changing the course of customer journey

Visualize Smart Contracts Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals, and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

CONTACT: Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
BI Enabled Platform: https://www.verifiedmarketresearch.com/vmintelligence/
Follow Us: LinkedIn | Twitter