BANGALORE, India, March 5, 2021 /PRNewswire/ — The Smart Contracts Market is Segmented Type (Bitcoin, Sidechains, NXT, Ethereum), Application(Banking, Government, Management, Supply Chain, Automobile, Real Estate, Insurance, Healthcare) : Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Software & Services Category.
The global Smart Contracts market size is projected to reach USD 345.4 Million by 2026, from USD 106.7 Million in 2019, at a CAGR of 18.1% during the forecast period 2021-2026.
Major factors driving the growth of smart contract market size are, increasing adoption of various applications in industries such as supply chain, banking, government, insurance, and real estate. Furthermore, the rising popularity of Blockchain technology is fueling the demand for the Smart Contracts Market.
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TRENDS INFLUENCING THE GROWTH OF SMART CONTRACT MARKET SIZE
Government bodies across the world are implementing smart contracts that require less human involvement and dramatically reduce the cost of contract handling. This, in turn, is projected to increase the growth of smart contract market size during the forecast period.
Smart contracts are an emerging technology that can increase efficiency in various industries. It offers…