The blockchain market in South America is expected to grow from US$ 171.52 million in 2021 to US$ 5,494.72 million by 2028; it is estimated to grow at a CAGR of 64.1% from 2021 to 2028.
The adoption of blockchain technology is still in its nascent stages, and it is growing at different speeds in different countries. The adoption of blockchain depends on government support and a favorable business environment. blockchain technology has immense potential to transform businesses and government services. For sustainable growth of the blockchain market, a unified regulatory framework is crucial, and it depends on the governments' will. The opportunities in various countries will grow exponentially depending on the supportive government initiatives. Moreover, the rising use cases of blockchain in government applications is another positive sign for companies operating in this market. Some of the most common public sector use cases include digital identity, digital voting, inter & intragovernmental transactions, documentation records, and supply chain traceability.
Governments of South American countries have taken an array of actions to protect their citizens and contain the spread of COVID-19 infection through lockdowns, trade bans, and travel restrictions. The spread of SARS-CoV-2 has interrupted the operations of the BFSI sector. With growing manufacturing, energy & utilities, retail industries, businesses in this region are increasingly implementing security and vulnerability management solutions to enable data security, prevent cyber-attacks and commercial espionage, and ensure security and privacy of data to facilitate business continuity.
South America Blockchain Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
South America Blockchain Market Segmentation
South America Blockchain Market – By Component
- Solutions
- Services
South America Blockchain Market – By Application
- Payments
- Exchanges
- Smart Contracts
- Documentation
- Digital Identity
- Governance, Risk and Compliance
- Others
South America Blockchain Market – By Industry Vertical
- BFSI
- Retail
- Government
- Transportation and Logistics
- Healthcare
- Automotive
- Media and Entertainment
- Others
South America Blockchain Market– By Country
- Brazil
- Argentina
- Rest of South America
South America Blockchain Market-Companies Mentioned
- Accenture
- Amazon Web Services
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
South America Blockchain Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 171.52 Million |
| Market Size by 2028 | US$ 5,494.72 Million |
| Global CAGR (2021 - 2028) | 64.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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- Accenture
- Amazon Web Services
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
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