What are smart contracts?

Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute contractual clauses when predefined conditions are met.

How big is the smart contracts market?

The Global Smart contracts Market size is poised for significant growth, reaching USD 1.9 Billion in 2024 . The sales are expected to witness a robust CAGR of 25.8% from 2024 to 2033. By 2033, the smart contracts demand is anticipated to reach a valuation of USD 14.9 Billion.

What is the significance of the smart contracts market?

The smart contracts market is crucial for enabling decentralized, trustless transactions. It plays a key role in industries such as finance, real estate, supply chain, and more by automating and securing complex processes.

Which industries are adopting smart contracts?

Industries like finance, insurance, healthcare, real estate, and supply chain are increasingly adopting smart contracts to streamline processes, reduce costs, and enhance security.

What is the most popular smart contract platform?

Currently, Ethereum stands out as the most popular smart contract platform. Its widespread adoption and developer community make it a leading choice for deploying and executing smart contracts. However, other platforms like Binance Smart Chain and Solana are gaining traction.

Who runs smart contracts?

Smart contracts run on decentralized networks, typically blockchain platforms. They operate autonomously, executing code when predefined conditions are met. The decentralized nature ensures trust, security, and resilience, as no single entity has control over the entire network.

Who are the key players in the smart contracts market?

Some key players operating in the smart contracts market include IBM Corporation, Tata Consultancy Services Limited, Innowise Group, Amazon Web Services, Inc., Oracle Corporation, Infosys Limited, Waves, Algorand, Monax Industries Ltd., Chainlink Docs, ScienceSoft, ELEKS, Other Key Players

Global Smart Contracts Market By Platform (Ethereum, Cardano, Polkadot, BNB Chain, Other Platforms), By Blockchain Type (Private, Public, Hybrid), By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs)), By End-Use Industry (BFSI, Logistics, Real Estate, Healthcare, Retail and Other End-Use Industries), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Published date: Jan. 2024
Report ID: 112089
Number of Pages: 203
Format:

Overview
Table of Contents
Major Market Players
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- IBM Corporation
- Tata Consultancy Services Limited
- Innowise Group
- Amazon Web Services, Inc.
- Oracle Corporation
- Infosys Limited
- Waves
- Algorand
- Monax Industries Ltd.
- Chainlink Docs
- ScienceSoft
- ELEKS
- Other Key Players