Blockchain Technology Market Research Report - Global Forecast to 2030

Blockchain Technology Market Research Report: By Service Provider (Application and Solution Provider, Middleware Provider, Infrastructure & Protocol Provider), By Organization Size ( Large Enterprise, Small and Medium Enterprise ), By Application ( Payment and Transaction, Smart Contract, Digital Identity, Documentation, Exchanges and Others), By End-Users ( Healthcare, Life Sciences, BFSI, IT and Telecommunication, Retail, Government, Travel and Hospitality, Real Estate & Construction, Others) - Global Forecast 2030

ID: MRFR/ICT/1176-CR | February 2020 | Region: Global | 123 Pages         

1 Executive Summary

2 Market Introduction

2.1 Definition 17

2.2 Scope of the Study 17

2.3 List of Assumptions 18

2.4 Market Structure 18

3 Market Insights

4 Research Methodology

4.1 Research Process 23

4.2 Secondary Research 23

4.3 Primary Research 24

4.4 Forecast Model 26

5 Market Dynamics

5.1 Introduction 28

5.2 Drivers 29

5.2.1 Growing Need for Simplifying Business Processes 29

5.2.2 Rising Demand for Improved Contractual Performance 29

5.2.3 Increased Automation with Data Integrity and Security 29

5.3 Opportunities 29

5.3.1 Rising Adoption of Blockchain for Payments, Smart Contracting, and Digital Identities 29

5.3.2 Developments of New Business Models 30

5.4 Restraints 30

5.4.1 Concerns regarding Integration with the Existing Applications 30

5.4.2 Uncertain Regulatory Standards 30

5.5 Value Chain Analysis 31

5.5.1 Blockchain Software Platform Providers 31

5.5.2 Security & Infrastructure Service Providers 31

5.5.3 Deployment and Middleware Service Providers 31

5.5.4 End-Users 32

5.6 Porterโ€™s Five Forces Model 32

5.6.1 Threat of New Entrant 33

5.6.2 Bargaining Power of Platform Supplier 33

5.6.3 Bargaining Power of End-User 33

5.6.4 Threat of Substitute 33

5.6.5 Intensity of Rivalry 33

5.7 Market Trends 34

5.7.1 North America 34

5.7.1.1 Key Developments: 34

5.7.2 Europe 34

5.7.2.1 Key Developments 34

5.7.3 Asia-Pacific 35

5.7.3.1 Key Developments 35

5.7.4 Rest of the World 35

5.7.4.1 Key Developments 35

6 Global Blockchain Technology Market, By Service Provider

6.1 Overview 37

6.1.1 Application and Solution Provider 38

6.1.2 Middleware Provider 38

6.1.3 Infrastructure & Protocol Provider 38

7 Global Blockchain Technology Market, By Organization Size

7.1 Overview 40

7.1.1 Large Enterprise 41

7.1.2 Small and Medium Enterprise 41

8 Global Blockchain Technology Market, By Application

8.1 Overview 43

8.1.1 Payment & Transaction 44

8.1.2 Smart Contract 44

8.1.3 Digital Identity 44

8.1.4 Documentation 45

8.1.5 Exchanges 45

8.1.6 Others 45

9 Global Blockchain Technology Market, By End-Users

9.1 Overview 47

9.1.1 Healthcare & Life Sciences 48

9.1.2 BFSI 48

9.1.3 IT & Telecommunication 49

9.1.4 Retail 49

9.1.5 Government 49

9.1.6 Travel & Hospitality 50

9.1.7 Real Estate & Construction 50

9.1.8 Others 51

10 Blockchain Technology Market, By Region

10.1 Introduction 53

10.2 North America 54

10.2.1 US 58

10.2.2 Canada 59

10.2.3 Mexico 60

10.3 Europe 62

10.3.1 Germany 66

10.3.2 UK 67

10.3.3 France 68

10.3.4 Russia 70

10.3.5 Rest of Europe 71

10.4 Asia-Pacific 73

10.4.1 China 77

10.4.2 Japan 78

10.4.3 India 79

10.4.4 Singapore 81

10.4.5 Hong Kong 82

10.4.6 Rest of Asia-Pacific 83

10.5 Rest of the World 85

10.5.1 UAE 89

10.5.2 Argentina 90

10.5.3 Other Countries 91

11 Competitive Landscape

11.1 Competitive Landscape Overview 94

11.2 Competitive Benchmarking 95

12 Company Profiles

12.1 IBM Corporation 97

12.1.1 Company Overview 97

12.1.2 Financial Performance 97

12.1.3 Products/Services/Solutions Offered 98

12.1.4 Key Developments 98

12.1.5 SWOT Analysis 99

12.1.6 Key Strategy 99

12.2 Deloitte Touche Tohmatsu Limited 100

12.2.1 Company Overview 100

12.2.2 Financial Overview 100

12.2.3 Product/Solution Offered 101

12.2.4 Key Developments 101

12.2.5 SWOT Analysis 102

12.2.6 Key Strategy 102

12.3 Hewlett Packard Enterprise Company 103

12.3.1 Company Overview 103

12.3.2 Financial Overview 103

12.3.3 Product/Solution/Service Offered 104

12.3.4 Key Developments 104

12.3.5 SWOT Analysis 104

12.3.6 Key Strategy 104

12.4 Accenture PLC 105

12.4.1 Company Overview 105

12.4.2 Financial Overview 105

12.4.3 Product/Solution/Service Offered 106

12.4.4 Key Developments 106

12.4.5 SWOT Analysis 106

12.4.6 Key Strategy 106

12.5 Infosys Limited 107

12.5.1 Company Overview 107

12.5.2 Financial Overview 107

12.5.3 Product/Solution/Service Offered 108

12.5.4 Key Developments 108

12.5.5 SWOT Analysis 108

12.5.6 Key Strategy 108

12.6 Cyber Infrastructure Pvt. Ltd. 109

12.6.1 Company Overview 109

12.6.2 Product/Solution/Service Offered 109

12.6.3 SWOT Analysis 110

12.6.4 Key Strategy 110

12.7 SoluLab Inc. 111

12.7.1 Company Overview 111

12.7.2 Product/Solution/Service Offered 111

12.7.3 SWOT Analysis 111

12.8 Empirica S.A. 112

12.8.1 Company Overview 112

12.8.2 Product/Solution/Service Offered 112

12.8.3 SWOT Analysis 112

12.9 Microsoft Corporation 113

12.9.1 Company Overview 113

12.9.2 Financial Overview 113

12.9.3 Product Offered 114

12.9.4 Key Developments 114

12.9.5 SWOT Analysis 114

12.9.6 Key Strategy 115

12.10 Oracle Corporation 116

12.10.1 Company Overview 116

12.10.2 Financial Overview 116

12.10.3 Product Offered 117

12.10.4 Key Developments 117

12.10.5 SWOT Analysis 117

12.10.6 Key Strategy 117

12.11 Amazon Web Services, Inc. 117

12.11.1 Company Overview 117

12.11.2 Financial Overview 118

12.11.3 Product Offered 119

12.11.4 Key Developments 119

12.11.5 SWOT Analysis 120

12.11.6 Key Strategy 120

12.12 Antier solutions. 121

12.12.1 Company Overview 121

12.12.2 Financial Overview 122

12.12.3 Product Offered 123

12.12.4 Key Developments 123

12.12.5 SWOT Analysis 124

12.12.6 Key Strategy 124

13 Appendix

13.1 Discussion Blue Print 122

14 List of Tables

TABLE 1 MARKET SYNOPSIS 15

TABLE 2 LIST OF ASSUMPTIONS 18

TABLE 3 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 37

TABLE 4 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 40

TABLE 5 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 43

TABLE 6 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 47

TABLE 7 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY REGION, 2021-2028 (USD MILLION) 53

TABLE 8 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY COUNTRY, 2021-2028 (USD MILLION) 54

TABLE 9 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 55

TABLE 10 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 56

TABLE 11 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 56

TABLE 12 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 57

TABLE 13 US: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 58

TABLE 14 US: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 58

TABLE 15 US: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 58

TABLE 16 US: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 59

TABLE 17 CANADA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 59

TABLE 18 CANADA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 59

TABLE 19 CANADA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 60

TABLE 20 CANADA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 60

TABLE 21 MEXICO: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 60

TABLE 22 MEXICO: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 61

TABLE 23 MEXICO: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 61

TABLE 24 MEXICO: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 61

TABLE 25 EUROPE BLOCKCHAIN TECHNOLOGY MARKET, BY COUNTRY, 2021-2028 (USD MILLION) 62

TABLE 26 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 63

TABLE 27 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 63

TABLE 28 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 64

TABLE 29 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 65

TABLE 30 GERMANY: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 66

TABLE 31 GERMANY: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 66

TABLE 32 GERMANY: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 66

TABLE 33 GERMANY: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 67

TABLE 34 UK: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 67

TABLE 35 UK: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 67

TABLE 36 UK: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 68

TABLE 37 UK: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 68

TABLE 38 FRANCE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 68

TABLE 39 FRANCE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 69

TABLE 40 FRANCE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 69

TABLE 41 FRANCE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 69

TABLE 42 RUSSIA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 70

TABLE 43 RUSSIA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 70

TABLE 44 RUSSIA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 70

TABLE 45 RUSSIA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 71

TABLE 46 REST OF EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 71

TABLE 47 REST OF EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 71

TABLE 48 REST OF EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 72

TABLE 49 REST OF EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 72

TABLE 50 ASIA-PACIFIC BLOCKCHAIN TECHNOLOGY MARKET, BY COUNTRY, 2021-2028 (USD MILLION) 73

TABLE 51 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 74

TABLE 52 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 75

TABLE 53 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 75

TABLE 54 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 76

TABLE 55 CHINA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 77

TABLE 56 CHINA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 77

TABLE 57 CHINA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 77

TABLE 58 CHINA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 78

TABLE 59 JAPAN: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 78

TABLE 60 JAPAN: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 78

TABLE 61 JAPAN: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 79

TABLE 62 JAPAN: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 79

TABLE 63 INDIA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 79

TABLE 64 INDIA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 80

TABLE 65 INDIA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 80

TABLE 66 INDIA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 80

TABLE 67 SINGAPORE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 81

TABLE 68 SINGAPORE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 81

TABLE 69 SINGAPORE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 81

TABLE 70 SINGAPORE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 82

TABLE 71 HONG KONG: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 82

TABLE 72 HONG KONG: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 82

TABLE 73 HONG KONG: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 83

TABLE 74 HONG KONG: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 83

TABLE 75 REST OF ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 83

TABLE 76 REST OF ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 84

TABLE 77 REST OF ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 84

TABLE 78 REST OF ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 84

TABLE 79 REST OF THE WORLD BLOCKCHAIN TECHNOLOGY MARKET, BY COUNTRY, 2021-2028 (USD MILLION) 85

TABLE 80 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 86

TABLE 81 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 86

TABLE 82 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 87

TABLE 83 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 88

TABLE 84 UAE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 89

TABLE 85 UAE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 89

TABLE 86 UAE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 89

TABLE 87 UAE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 90

TABLE 88 ARGENTINA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 90

TABLE 89 ARGENTINA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 90

TABLE 90 ARGENTINA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 91

TABLE 91 ARGENTINA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 91

TABLE 92 OTHER COUNTRIES: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021-2028 (USD MILLION) 91

TABLE 93 OTHER COUNTRIES: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021-2028 (USD MILLION) 92

TABLE 94 OTHER COUNTRIES: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021-2028 (USD MILLION) 92

TABLE 95 OTHER COUNTRIES: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021-2028 (USD MILLION) 92

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15 List of Figures

FIGURE 1 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET: MARKET STRUCTURE 18

FIGURE 2 NORTH AMERICA MARKET SIZE & GROWTH RATE BY COUNTRY (2021 VS 2028) 20

FIGURE 3 EUROPE MARKET SIZE & GROWTH RATE BY COUNTRY (2021 VS 2028) 20

FIGURE 4 ASIA-PACIFIC MARKET SIZE & GROWTH RATE BY COUNTRY (2021 VS 2028) 20

FIGURE 5 REST OF THE WORLD MARKET SIZE & GROWTH RATE BY REGION (2021 VS 2028) 21

FIGURE 6 TOP DOWN & BOTTOM UP APPROACH 25

FIGURE 7 DRIVERS, OPPORTUNITIES AND RESTRAINTS ANALYSIS OF GLOBAL BLOCKCHAIN TECHNOLOGY MARKET 28

FIGURE 8 VALUE CHAIN: BLOCKCHAIN TECHNOLOGY MARKET 31

FIGURE 9 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL BLOCKCHAIN TECHNOLOGY MARKET 32

FIGURE 10 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021 VS 2028 (USD MILLION) 37

FIGURE 11 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021 VS 2028 (USD MILLION) 40

FIGURE 12 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021 VS 2028 (USD MILLION) 43

FIGURE 13 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021 VS 2028 (USD MILLION) 47

FIGURE 14 GLOBAL BLOCKCHAIN TECHNOLOGY MARKET, BY REGION, 2021 VS 2028 (USD MILLION) 53

FIGURE 15 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 54

FIGURE 16 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021 VS 2028 (USD MILLION) 55

FIGURE 17 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021 VS 2028 (USD MILLION) 55

FIGURE 18 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021 VS 2028 (USD MILLION) 56

FIGURE 19 NORTH AMERICA: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021 VS 2028 (USD MILLION) 57

FIGURE 20 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 62

FIGURE 21 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021 VS 2028 (USD MILLION) 62

FIGURE 22 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021 VS 2028 (USD MILLION) 63

FIGURE 23 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021 VS 2028 (USD MILLION) 64

FIGURE 24 EUROPE: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021 VS 2028 (USD MILLION) 65

FIGURE 25 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 73

FIGURE 26 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021 VS 2028 (USD MILLION) 74

FIGURE 27 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021 VS 2028 (USD MILLION) 74

FIGURE 28 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021 VS 2028 (USD MILLION) 75

FIGURE 29 ASIA-PACIFIC: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021 VS 2028 (USD MILLION) 76

FIGURE 30 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 85

FIGURE 31 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY SERVICE PROVIDER, 2021 VS 2028 (USD MILLION) 85

FIGURE 32 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY ORGANIZATION SIZE, 2021 VS 2028 (USD MILLION) 86

FIGURE 33 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY APPLICATION, 2021 VS 2028 (USD MILLION) 87

FIGURE 34 REST OF THE WORLD: BLOCKCHAIN TECHNOLOGY MARKET, BY END-USER, 2021 VS 2028 (USD MILLION) 87

FIGURE 35 BENCHMARKING OF MAJOR COMPETITORS 95

Blockchain Technology Market

The blockchain technology market is expected to reach USD 137.59 Billion by 2030 growing at a CAGR rate of 67.54%.

Segmentation

By Service Provider Application And Solution Provider Middleware Provider Infrastructure & Protocol Provider
By Organization Size Large Enterprise Small And Medium Enterprise
By Application Payment And Transaction Smart Contract Digital Identity Documentation Exchanges
By End-Users Healthcare Life Sciences Bfsi It And Telecommunication Retail Government Travel And Hospitality Real Estate & Construction

Key Players

  • Microsoft Corporation
  • IBM Corporation
  • Coinbase
  • Blockchain Tech LTD
  • Earthport Plc
  • BitFury Group Ltd
  • Ripple Labs Inc
  • Deloitte Touche Tohmatsu Limited
  • Abra Inc
  • Chain Inc
  • Digital Asset Holdings LLC
  • Antier Solutions.

Drivers

  • The rising demand for digital identity
  • The growing capitalization of market-related cryptocurrencies
  • The low amount of transaction fees.
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Blockchain Technology Market Overview:


According to MRFR's latest published report, the blockchain technology market is expected to reach USD 137.59 Billion by 2030 growing at a CAGR rate of 67.54%.

The uplifting concentrations on the decentralization of information and data ledgers have resulted in the escalation of Blockchain technology. This Blockchain Technology Industry facilitates the invariableness of the functions of the database by making transparent interactions. The applications produced by Blockchain Technology Industry are gaining speedy mileage and covering a wide range of domains such as retail, healthcare, and BFSI. Also, there’s a huge market opportunity and potential for the Blockchain Technology Market. Therefore, Blockchain is assumed to gain huge popularity in the future years because of its innate nature. 


COVID-19 Analysis:
The pandemic has caused a huge impact on various industries across the world. Therefore, every industry has to fight the battle with both economic and health issues and had to go through this forced recession. Along with the worldwide financial loss of millions and trillions of dollars, the speedy recovery has become a huge reason for concern. 



This COVID-19 pandemic scenario has affected the Blockchain Technology Market Revenue for a short period of time. The Blockchain would take a major role in driving various activities related to digital transformation and also various initiatives during this crisis scenario. According to the Blockchain Technology Market Analysis,this technology can be utilized for the surveillance of public health information, security of the medical supply chains, crisis management, donation of tracking, etc. Also, this Blockchain industry can speedily capture the long-lasting effect that the COVID-19 has caused on numerous industry levels. 



According to the Blockchain Technology Market Analysis done by OECD or Organization for Economic Co-operation and Development says that, in comparison to 2019, the Blockchain technology sector will experience a slight 8% decline in technology investment in 2020. Therefore, the various business entities and governments are concentration on the deployment of numerous innovative technologies for enhancing the customer experience. In the coming years, such active initiatives are presumed to fuel the Blockchain Technology Market Demand for various solutions. 


Market Dynamics:
Drivers:
The rising demand for digital identity has resulted in the expansion of Blockchain Technology Market SizeThe various identity platforms based on blockchain technology have numerous applications in both countries that have weak identification procedures and in unregulated countries. At the national level, the adoption of Blockchain Technology Market Demand-based identification platforms has been performed by various governments to promote transparent and secure transactions across the public and private sectors. Various governments have used blockchain technology at a national level with their e-citizen programs since 2018. Therefore, these countries have been able to develop their identity-related procedures and successfully minimized the bureaucracy. Also, this technology has helped them to digitalize all kinds of public transactions via safe digital identities. 

In addition, the growing capitalization of market-related cryptocurrencies has fueled the venture of capital investment done by various countries. Depending on the Blockchain Technology Market Size, the cryptocurrencies have marked the innovation in various payment landscapes. Moreover, in comparison with other payment types, these currencies offer a lower amount of transaction fees. Also, as the transaction fees ask for huge money, hence cryptocurrencies draw the companies and individuals to the cross-border payment methods. Also, because of the decentralized property of these cryptocurrencies, the regulatory authorities of the cross-border can’t impose any kind of restrictions on these transactions. Therefore, the low amount of transaction fees and various other factors are promoting the Blockchain Technology Market Revenue and also the capitalization of cryptocurrencies that drives the venture capitalists for investing in the Blockchain Technology Market Share

In 2017, the price of the cryptocurrency has jumped to 2.200% within only 11 months and as a result, the funds raised by the various Blockchain startups via IOS had surpassed the VC investment in the Blockchain sector. 



Opportunities:
Since the evolvement of the foremost peer-to-peer decentralized electronic cash, the Blockchain Technology Market Growth has promoted rapidly. Today, various investors from different fields understand the advantages of this technology. From finance to medicine, various sectors are opting for ways to integrate Blockchain technology into their infrastructures. Because of its trustless and decentralized properties, the industry growth can lead to various new opportunities and can benefit the business via enhanced transparency, easier traceability, and greater security. 



Restraints:
The only restraint of Blockchain technology is its sophisticated integration procedure. Also, the businesses face a lack of technical team who has expertise in this technology. 

Segment Overview:
According to the market forecast, this market can be classified based on the application, service provider, organization size, end-users, and region.



By Application:
The market is segmented into the following divisions based on the types of application: 


  • Payment and transaction

  • Digital identity

  • Exchanges

  • Smart contract

  • Documentation

  • Other


By Organization Size:
Based on organization size, the divisions of the Blockchain technology market are:


  • Small enterprises

  • Medium enterprises

  • Large enterprises


By Service Provider:
This segment classifies the usage of different Blockchain technology. The divisions are as follows: 


  • Middleware provider

  • Application provider

  • Infrastructure provider

  • Solution provider

  • Protocol provider


By End-users:
The market  is segmented into the following divisions based on the end-users. 



  • BFSI

  • Life sciences and Health care

  • Telecommunication and IT

  • Hospitality and travel

  • Government

  • Retail

  • Construction and real estate

  • Others


By Region:
The segmentation of the worldwide Blockchain technology market based on the region are: 



  • North America

  • Europe

  • Asia Pacific

  • Rest of the world


Regional Analysis:
According to the Blockchain Technology Market Trends, in 2018, the North American region has dominated this market and it was estimated at approximately USD 612.3 million. The reason behind such growth is the speedier adoption of these innovative Blockchain technologies in most of the developed nations such as Canada and the United States. Also, the rising adoption of this technology among various verticals including retail, BFSI, government for detection of digital identity, wallet and payment solutions, smart contracts, etc. are assumed to enhance the Blockchain Technology Market Share.



Also, the growing economic sector in various developing countries like India and China is assumed to stimulate the regional growth of the Blockchain industry in the Asia Pacific region. The rising utilization of blockchain technology in managing KYC or Know Your Customer documents by the banks in the Asia Pacific region is also assumed to drive the Blockchain market growth in this particular region. Also, increasing initiatives by the research institutes and the government have resulted in the development of this technology. The laboratories are being developed in these countries to concentrate on advanced mathematics, integration of huge data, and the advancement of this technology. 


Blockchain Technology Market Key Vendors:


In this study, MRFR has analyzed major players such as Microsoft Corporation, IBM Corporation, Coinbase, Blockchain Tech LTD, Earthport Plc, BitFury Group Ltd, Ripple Labs Inc, Deloitte Touche Tohmatsu Limited, Abra, Inc, Chain Inc, and Digital Asset Holdings, LLC, Antier Solutions.

Competitive Landscape:
According to the worldwide Blockchain Technology Market Trends, this market is characterized by the presence of various local, regional, and international vendors. The market is extremely competitive, with every player opting for greater market share. The rapid advancement of technologies, the frequent change in various governmental policies, intense competition – are the major factors that drive the Blockchain market development. Depending on the reliability, pricing, and quality of the service, the vendors compete. Also, the vendors must offer value-added services and the latest innovative technologies to succeed and survive in this immensely competitive Blockchain market environment. 



Report Overview:
The Blockchain Technology Market Forecast presumes that at country, regional, and global levels there would be significant revenue growth and also offers an overview, from 2018 to 2023, of the current developments in the Blockchain industry sector and its sub-sector. Also, because of the purpose of the overview analysis, the MRFR has segmented the worldwide report of the technology market by application, provider, end-users, region, and organization size. 



Scope of report and segmentation table:


  • Base year – 2020

  • Forecast period – 2021-2028

  • Historical data – 2019



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 137.59 Billion
  CAGR   67.54%
  Base Year   2020
  Forecast Period   2021-2030
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Service Provider, Organization Size, Application and End-Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Microsoft Corporation, IBM Corporation, Coinbase, Blockchain Tech LTD, Earthport Plc, BitFury Group Ltd, Ripple Labs Inc, Deloitte Touche Tohmatsu Limited, Abra, Inc, Chain Inc, and Digital Asset Holdings, LLC, Antier Solutions
  Key Market Opportunities

  • Various investors from different fields understand the advantages of this technology
  • Can benefit the business via enhanced transparency, easier traceability, and greater security.
  •   Key Market Drivers

  • The rising demand for digital identity
  • The growing capitalization of market-related cryptocurrencies
  • The low amount of transaction fees


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    Frequently Asked Questions (FAQ) :

    It is the blockchain-based applications that are gaining traction as it is covering several domains of BFSI, healthcare and retail. These applications are aiding the market with tremendous market opportunities in the future.

    The market is set to reach USD 137.59 Billion by 2030

    The telecommunication sector is increasingly utilizing blockchain mainly for applications such as smart contracts, billing, roaming services and identity as a service and the prime factor for the market’s expansion.

    Industrial verticals that are focusing on leveraging blockchain technology are packaging, retail, and banking.

    Currently, the North American region is commanding the largest share of the global blockchain technology market.

    The blockchain technology market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, and frequent changes in government policies are key factors that confront market growth. The vendors compete based on quality of service, pricing, and reliability. It is crucial for the vendors to provide advanced technology and value-added services for blockchain technology vendors to survive and succeed in an intensely competitive market environment.


    The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and advancement in digital services.  Microsoft Corporation, IBM Corporation, Coinbase, Blockchain Tech LTD, Earthport Plc, BitFury Group Ltd, Ripple Labs Inc, Deloitte Touche Tohmatsu Limited, Abra, Inc, Chain Inc, and Digital Asset Holdings, LLC, are major companies in the market that compete in terms of services offered, pricing of IPN devices, and availability of components from suppliers. These companies primarily focus on the designing crypto-currencies, money transactions, and data integrity & security. Although the global players are dominating the market, regional players with small market shares also have a presence in the market. The global players are expected to strengthen their presence worldwide through organic and inorganic growth during the forecast period.


    The vendors with better technical and financial resources can develop innovative product that render the competitors' products, obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors must develop new technologies and stay in touch with emerging technologies that could affect the continuing competitiveness of their product lines in the market.


    Microsoft Corporation is a leading provider of software, services, and solutions across the globe. The company mainly operates three segments such as productivity and business processes, intelligent cloud, and more personal computing. The company at present offers “Blockchain as a Service (BaaS)” on Microsoft Azure platform which was initiated to enable enterprise clients and developers to have a single-click cloud-based blockchain developer environment. The company operates in North America and rest of the world.


    International Business Machine (IBM) is a leader in providing information technology, innovation, and research & development worldwide. The company operates through various business segments such as cognitive solutions, technology services, business services, global financing services, software services and system hardware. The company has major operations in the US, Japan and the Rest of the World. IBM Corporation primarily aims to increase their business productivity by building partnerships with tech giants and exploring the untapped market as a part of their inorganic growth strategy.


    Blockchain Tech Ltd offers solutions that require a minimal IT support, and reduced cost of development. The company provides variety of services such as technical design services, development and hosting services, and support services. BTL Group is primarily focusing on providing free and next-generation blockchain technology platforms for enterprises and end-users.


    These companies contributed a major proportion towards market revenue of blockchain technology market.


    Intended Audience



    • Software solution providers

    • Network providers

    • System integrators

    • Government, financial, and research institutions as well as investment communities

    • Service providers and distributors

    • Blockchain application builders

    • Customer experience management professionals

    • Independent Software Vendors (ISVs)

    • Analytics consulting companies

    • Enterprises