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Blockchain Market to Touch USD 69.04 Billion by 2027; Rising Focus on Decentralizing Data Ledgers to Propel Market Growth: Fortune Business Insights™

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Pune, India, May 06, 2021 (GLOBE NEWSWIRE) — The global blockchain market size is projected to reach USD 69.04 billion by 2027, exhibiting a CAGR of 56.1% during the forecast period. In 2019, the value of the market was USD 2.01 billion. The open access to data facilitated by blockchain technologies will be the central growth determinant for this market. Fortune Business Insights shares this information in its report titled “Blockchain Market, 2021-2027.

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Blockchain technology divides ledgers into nodes that can be accessed by several individuals. These nodes consist of an electronic device responsible for preserving the data and securing the network chain by advanced safety technologies using algorithms. The rising demand for advanced technological solutions that provide accurate market data to companies for making products based on the consumer’s needs. This technology is finding widening applications in different industries, such as BFSI and retail, where companies are deploying smart tools to monitor their transactions throughout the supply chain. For example, Unilever uses blockchain to control their tea trade by tracking the progress of transactions from the distribution network. Countries such as the US, Japan, South Korea, and others are also heavily investing in digital ledger technologies (DLT) to expand their uses across several sectors. For example, in 2019 the Republic of Korea spent USD 9 million for the expansion of the advanced ledger system throughout its public sector. As a result of the rising adoption of open-access technologies by various countries and companies, the market is anticipated to grow during the upcoming years.

 Impact of COVID-19

The COVID-19 pandemic has adversely affected production activities by reducing workers’ availability, leading to the temporary shutting down of plants and factories. However, because of the digitization of activities the blockchain market growth is anticipated to flourish as this technology enables swift digitization of balance sheets and reports. Further, it can enable the monitoring of data regarding public health, managing emergencies, tracking donations, and procuring medicines and other essential medical supplies. In addition, governments and global organizations are working on bringing transparency in the collection and dissemination of COVID-related information using advanced data tracking technologies. For example, the World Health Organization (WHO) launched a distributed ledger technology named “MiPasa’ to track the rate of COVID-19 cases and highlight the worst-affected regions.

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Segments

By component, the market is segmented into platforms/solutions and services. Based on type, it is segregated into public, private, and consortium.  As per deployment, it is divided into proof of concept, pilot, and production. On the basis of application, it is categorized into digital identity, payments, smart connect, supply chain management, exchange, documents, and others. The market has been distributed by industry into BFSI, energy & utilities, government, healthcare & life sciences, manufacturing, and others. Geographically, it is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Highlights of the report

The report supplies a thorough analysis of the top segments and the latest market trends. It comprehensively discusses the impact of COVID-19 and the driving and restraining factors shaping the growth of the market. Additionally, it holistically examines regional developments and the strategies implemented by the market’s key players.

Drivers and Restraints

Rising Adoption of Data Analysis Technology for Monitoring Transactions to Propel Market

Distributed ledger technology is extensively used for tracking data related to monetary transactions with the utmost security and for the monitoring of the transfer and debit of currencies digitally. Germany, the US, and several other countries are providing DLT services to enhance the efficiency of banking transactions. For example, SAP SE, R3 Technology Inc., and Accenture plc engaged in a partnership in October 2019 to develop a real-time gross settlement (RTGS) solution offering consumers efficiency, speed, and security during digital payments. In addition, blockchain-based solutions are utilized by companies to enhance the safety of critical operations. For example, General Electric (GE) incorporated data analyzing technology in its manufacturing process in May 2020 for enhancing the quality of production and securing transactions. The rising adoption of advanced data analytics by a wide range of manufacturers across industries is thus aiding the speedy expansion of this market.

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Regional Insights

Widespread Operations of Prominent Players in North America to Foster Market Growth

North America is projected to lead the blockchain market share for the upcoming years due to the strong presence and widening operations of tech giants such as Microsoft Corporation and IBM Corporation in the region. The increasing adoption of DLT-based solutions is another that is bolstering the market growth for the region. In 2019, the region’s market size was USD 0.95 billion.

The Asia Pacific region is projected to exhibit a substantial annual growth rate in the upcoming years backed by rising investments by governments and other business organizations in the region in advanced data analysis systems. The market in Europe is expected to grow on account of the increasing uptake of advanced virtual technologies by companies in the region. For example, companies in the UK made an investment of more than USD 130 million for utilizing products powered by data assembly technologies.

Competitive Landscape

Growing Focus on Operational Efficiency by Government Bodies to Encourage Innovation

Government agencies in North America are developing artificial intelligence-based technologies to improve their efficiency and lower operation costs. For example, the US Department of Health and Human Services (HHS) undertook an investment of USD 49 million for developing data-gathering artificial intelligence technologies in November 2019 to condense their operational costs. Further, companies are also actively partnering with their competitors to offer superior customer service and build enhanced portfolios.

Industry Development

March 2019: Microsoft Corporation, Tata Consultancy Services (TCS), and R3 technology (R3) developed a scalable cross-industry blockchain program for enabling end-users to enhance consumer experience and boost business value.

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List of Key Players Profiled in the Blockchain Market Report

  • IBM Corporation
  • R3TEK (R3 Technology, Inc)
  • Oracle Corporation
  • Linux Foundation
  • Microsoft Corporation
  • Tata Consultancy Services (TCS)
  • LeewayHertz
  • Chain, Inc.
  • JD.com, Inc
  • Itransition
  • Capgemini SE
  • Huawei Technologies
  • SAP SE
  • Baidu, Inc
  • Deloitte Touche Tohmatsu Limited
  • Accenture plc
  • Coinbase
  • Digital Asset Holdings, LLC
  • JP Morgan Chase & Co
  • Ripple
  • Tech Mahindra Limited
  • Skuchain
  • Dragonchain
  • InnoMind Technologies

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
    • Global Blockchain Key Players Market Share Analysis and Matrix, 2019
  • Key Market Insights and Analysis, By Segments
  • Global Blockchain Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
    • By Component (Value)
      • Platform/Solution
      • Services
    • By Type (Value)
      • Public Blockchain
      • Private Blockchain
      • Consortium Blockchain
    • By Deployment (Value)
      • Proof of Concept
      • Pilot
      • Production
    • By Application (Value)
      • Digital Identity
      • Payments
      • Smart Contract
      • Supply Chain Management
      • Others (Exchange, Documentation, etc.)

TOC Continued…!

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Online Payment Market Size, Share & COVID-19 Impact Analysis, By Payment Type (Mobile Payment, Online Banking, and Digital Wallet), By Industry (Media & Entertainment, Retail, BFSI, Food & Beverages, IT &Telecom, Transportation, and Others), and Regional Forecast, 2020-2027

Big Data as a Service Market Size, Share & COVID-19 Impact Analysis, By Solution (Hadoop-as-a-Service, Data-as-a-Service and Data Analytics-as-a-Service), By Deployment Model (Public Cloud, Private Cloud and Hybrid Cloud), By Industry (BFSI, Retail and E-Commerce, IT & Telecom, Healthcare, Government, Manufacturing and Others) and Regional Forecast, 2021-2028

Big Data Technology Market Size, Share & COVID-19 Impact Analysis, By Offering (Solution and Services), By Deployment (On-premise, Cloud-based, and Hybrid), By Application (Customer Analytics, Operational Analytics, Fraud Detection and Compliance, Enterprise Data Warehouse Optimization, and Others), By End-Use Industry (BFSI, Retail, Manufacturing, IT and Telecom, Government, Healthcare, Utility, and Others), and Regional Forecast, 2020-2027

Artificial Intelligence Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2020-2027

Natural Language Processing Market Size, Share & Industry Analysis, By Deployment (On-Premises, Cloud, and Hybrid), By Technology (Interactive Voice Response (IVR), Text Analytics, Speech Analytics, Pattern and Image Recognition, and Others), By Industry Vertical (Healthcare, Retail, BFSI, Automotive & Transportation, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2019-2026

About us

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

Adamastor introduces the FURIA, the first Portuguese supercar

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PORTO, Portugal, May 14, 2024 /PRNewswire/ — The history of the Portuguese car industry is filled with good examples of the significance of Portuguese entrepreneurship, the desire to “give new worlds to the world”, the enormous capacity to get down to work and turn ideas into reality. In all of them we find something that unites them: one or two “geniuses” who, sometimes not in the most obvious way, or having to overcome the most unusual obstacles, end up bringing something they dreamed of to fruition. Adamastor has a lot of all these things. A lot of idealism, a lot of passion and, at the same time, a lot of know-how… The result is being presented today: the FURIA!

A supercar is, in essence, an exclusive high-performance sports car made up of specific components of superior quality, offering more power and cutting-edge technology to enthusiasts and collectors around the world. It is precisely in this segment, which is also “super” in terms of exclusivity, that Adamastor wants to position itself.
The constant growth and development of society and the economy has favoured the expansion of the number of wealthier consumers, many of whom are regular customers of the restricted supercar category. It is therefore expected that the demand for supercars will continue to increase, also favouring growth in the sector.
However, the rigour of construction, the driving experience and the high-level design and technology are equally responsible for placing Adamastor’s market segment at the forefront of the evolution of expertise, R&D and technical knowledge in this top category of the exciting automotive industry. This is precisely where Adamastor wants to put itself, with the introduction of the Furia, right at the front of the pack.
Where is the first Portuguese supercar produced?
It was from its facilities in Perafita, on the outskirts of Oporto, that Adamastor worked on the development of the first Portuguese supercar. But the highly specialised engineering, production and design team also has the technical and human resources to design, develop and produce its own tools, equipment and other components, and is also committed to becoming a leader in the execution of excellent engineering projects at international level, with a special focus on designing the highest quality carbon fibre components. Adamastor Advanced Technologies was thus born.
In order to achieve this, it uses cutting-edge technical solutions, from the design stages to validation, obviously including development and production, and it has all the skills and competences that allow it, for example, to stand out as one of the main players in the industry in the production of carbon fibre components for use in the demanding automotive industry, in the new mobility solutions sector and in the challenging world of racing, while demonstrating its ability to adapt to an industry that is constantly changing and evolving.
From advanced CNC machining technology to modern 3D printing tools, including the aforementioned production of carbon fibre components, Adamastor Advanced Technologies’ experience, expertise and excellent service has made it the choice of customers with specific needs, such as for the production of carbon fibre bodies and fuel tanks for off-road racing vehicles, propellers for wind power generation, among other high-precision components, where tight tolerances are crucial for the application and consequent correct operation of the component under working conditions.
In this context, Adamastor’s network of partners is also one of its main assets. Each of its partners offers the experience and technical expertise needed to achieve the best results, meeting the high-quality standards and demands of its customers. Examples include partnerships with Creodynamics – virtual simulation of a wind tunnel with CFD (Computational Fluid Dynamics) software, as used in Formula 1; with Canopy – virtual simulation of races and lap times used by some of the teams in the FIA World Endurance Championship and Formula 2; and with Altair – FEA (Finite Element Analysis)
All the information available here: https://www.adamastor.com.pt/home
Technical specifications – Adamastor Furia
Chassis:Carbon fibre
External dimensionsLength: 4,560 mmWidth: 2,212 mmHeight: 1,098 mmWeight: 1,100 kg (dry in Race version)
Track widthFront: 1,755 mmRear: 1,705 mmWheelbase: 2,800 mm
SuspensionGeometry: decoupled double wishbones, coil spring on shock absorberAdjustments supported: toe, camber, caster, ground clearance, roll stiffness, bump stiffness
EngineArchitecture: V6, twin-turbo, sourced from Ford PerformanceDisplacement: 3.5 litresMaximum power: + 650 horsepowerMaximum torque: + 571 NmFuel: Petrol; compatible with synthetic fuelsTop speed: over 300 km/h in the road versionAcceleration from 0 to 100 km/h: around 3.5 secondsAcceleration from 0 to 200 km/h: around 10.2 seconds
Maximum downforceRace: 250 km/h – 1,800 kgRoad: 250 km/h – 1,000 kg
Brakes378 mm discs at the front and 356 mm at the rear. 6-piston callipers at the front and 4-piston callipers at the rear. Brake force variation available on Race version.
Standard equipmentABS and TC
Customisation optionsAdamastor allows a wide range of personalisation freedom for the Furia, including the interior design.
Planned production:Limited series of 60 units
Price of the road-legal version:Estimated at 1.6 million euros + tax
Photo – https://mma.prnewswire.com/media/2410982/Adamastor_Super_Sports.jpgPhoto – https://mma.prnewswire.com/media/2410981/Adamastor_350_HorsePower.jpgLogo – https://mma.prnewswire.com/media/2094180/Adamastor_Logo.jpg
 

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ID Quantique launches a quantum-safe communication ecosystem to facilitate the adoption of Quantum networks, with HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum as first partners

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GENEVA, May 14, 2024 /PRNewswire/ — To accommodate the growing demand for telecom-grade solutions that enable fast and cost-effective migration to quantum-safe communications, ID Quantique’s new Clarion KX software platform now supports multi-vendor Quantum Key Distribution (QKD) interoperability. Today, we are pleased to welcome new technology partners: HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum to our Clarion KX ecosystem.

With the looming threat of quantum computers capable of breaking public-key cryptography, the reality of “harvest now, decrypt later” attack poses immediate threat to the confidentiality of enterprise, government, and IT service providers’ data. Organizations worldwide are grappling with the urgency of migrating to quantum-safe infrastructure – the most complex, time-sensitive, and costly cryptographic overhaul in IT history. Stakes are high, as failure to timely employ available mitigation strategies could expose them to significant liabilities.
To fully mitigate the associated risks, organizations are now looking to enforce a defense in depth approach by leveraging both quantum-based and algorithmic technologies at different layers of the network stack. QKD solutions, the key building block of this strategy, have been already recognized to play a critical role in ensuring long term resilience to Quantum threat.
ID Quantique Clarion KX platform leverages an open and service-based architecture to support a cost-effective scale up of QKD networks. It provides for orchestration and management of out-of-band quantum-key delivery in real time, regardless of the underlying QKD solutions or the location of the consuming encryption appliances. With its support for heterogeneous QKD infrastructure in complex and SLA demanding environments, IDQ’s Clarion KX platform also enables telecom operators to generate new revenue streams by providing new Quantum-Safe as a Service offerings to their B2B customers looking for long-term security assurance.
With ID Quantique’s expanded ecosystem and open interfaces, customers can now also leverage hybrid QKD networks, including continuous variables (CV) QKD, discrete variables (DV) QKD or Entanglement based QKD.
“We are extremely proud to break another important barrier to large-scale adoption of quantum networks. Said Grégoire Ribordy CEO of ID Quantique. Offering a vendor-agnostic ecosystem allowing heterogeneous QKD infrastructure was one of the next logical steps the market was expecting – and this is now available thanks to our partners.”
 “Reaching QKD interoperability is a significant market milestone that empowers customers to choose products freely for their networks, maximizing flexibility and adaptability to meet business needs. Said Nir Bar-Lev, CEO, HEQA Security. This customer-centric approach reflects HEQA Security’s dedication to delivering innovative solutions, even before standards are fully finalized.”
“Safeguarding both present and future communications requires customized solutions aligned with specific network requirements. That is why we must ensure multi-vendor interoperability, allowing our industry to build on the unique properties and specifications of each QKD and related technologies from different providers.” says Vanesa Diaz, CEO of LuxQuanta. “We are very pleased with the seamless work that both our teams have done to integrate our NOVA LQ® system with Clarion KX software, and we look forward to continuing to nurture this partnership.
“The integration of different technological approaches is an important step for future network architecture,” says Kevin Füchsel, CEO of Quantum Optics Jena. “The demonstration shows that our partners and customers can rely on simple and fast interoperability. This brings us a big step closer to multi-user and multi-vendor networks.”
“Partnering between ThinkQuantum and IDQ for the mutual recognition of our own quantum networking solutions is definitely moving in the direction of overcoming the competition we daily experience on the market to cooperate in the support of our common clients and Industry growth”, Simone Capeleto, CEO of ThinkQuantum.
More info on Clarion KX Platform
For more information visit our website:www.idquantique.comwww.heqa-sec.comwww.LuxQuanta.comwww.qo-jena.comwww.thinkquantum.com
Photo: https://mma.prnewswire.com/media/2412582/ID_Quantique.jpgLogo: https://mma.prnewswire.com/media/2412581/ID_Quantique_Logo.jpg
Contact: Catherine Simondi – VP Marketing and Communication, ID Quantique, [email protected] or + 42 22 801 83 71 
 

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Sona, next-generation workforce management for frontline, raises $27.5M Series A led by Felicis

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LONDON, May 14, 2024 /PRNewswire/ — Sona, the next-generation, intelligent workforce management platform for frontline enterprises founded by Steffen Wulff Petersen, Oli Johnson and Ben Dixon, announced today its $27.5M Series A. Felicis led the financing with participation from Northzone, Google’s AI-fund Gradient, SpeedInvest, Antler, BAG Ventures, and numerous notable angels participated in the round. Sona has raised $40M+ to date and will use this fresh round of capital to expand its go-to-market function and build more advanced AI capabilities on its platform. In 2023 alone, Sona experienced an explosive 400%+ revenue growth. To date, over 4.6 million shifts have been created on Sona.

The frontline workforce represents nearly 2 billion people worldwide, 56% of the global workforce. In spite of this, frontline innovations have received

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