Smart Contracts Market Research Report – Global Forecast to 2023

Smart Contracts Market Research Report – Global Forecast to 2023

ID: MRFR/ICT/3169-HCRR | February, 2018 | Region: Global | 100 pages | Half-Cooked Research Reports

Global Smart Contracts Market, By Blockchain Platform (Bitcoin, Sidechains, NXT, Ethereum), By Technology (Ethereum, Rootstock (RSK), Namecoin, Ripple) By End – User (Banking, Government, Management, Supply Chain, Automobile, Real Estate, Insurance, and Healthcare).


Market Synopsis of Global Smart Contracts Market:


The global file sharing software market holds players like Monax Industries Limited (U.K.), Monetas (Switzerland), Blockstream Corporation (U.S.), Coinbase, Inc (U.S.), Bitfinex (Hong Kong), BlockCypher, Inc (U.S.), Chain, Inc.(U.S.), Coinify ApS (Denmark), BitPay, Inc (U.S.), GoCoin Pte. Ltd (Singapore) among others.


The smart contracts is one of the application of the Blockchain technology that lets the organizations, government, legal bodies and even individuals to exchange the monetary values, properties, shares, bonds involving a value and a contract in a clear way avoiding any conflict without the need of a middlemen. The factor that hold the growth of the smart contract is the tendency of it to define the rules and regulations of an agreement but also automatically enforce any of the obligations. The smart contract can be used for any of the situations like from financial, insurance premiums, contract breaches, property law and much more. The smart contract has shown a descent growth and is expected to grow significantly in the forecasted period catering the end users like banking, government, insurance, real estate, supply chain among others. For government smart contracts can prove a next advanced step towards voting and other legal formalities and tenders issued by the government. These may include any agreement made between the government and the private or public enterprises.


The working of smart contract is all digitized and removes the need of the broker or a lawyer as a middleman. The two contract parties match to the terms of the contract set. The contract is registered in a database and all the legal clearing is made automated. The asset in the contract is digitized and payment is done through the digital or crypto-currencies. The smart contract gives the parties of the agreement a freedom of autonomy, backup, safety, speed and accuracy.


The market for smart contracts is segmented on the basis of Blockchain platform, technology, end user and by region. On the basis of Blockchain platform, the segmentation is further divided into Bitcoin, Sidechains, NXT and Ethereum. Ethereum is the most advanced for coding and processing of the smart contracts and accounts for the large share followed by Bitcoin and NXT. On the basis of technology, the segmentation is done on the basis of Ethereum, Rootstock (RSK), Namecoin, Ripple among others. The market holds many of the end users such as banking, government, management, supply chain, automobile, real estate, insurance and healthcare.


Global Smart Contracts Market, USD Million

Global Smart Contracts Market, USD Million
 


On the basis of region, the market is segmented under North America, Europe, Asia pacific and rest of the world. The market for smart contracts is led by Europe. However North America show a significant growth in the forecasted period. This is majorly increased adoption towards digitization in countries like U.S, China, U.K and Japan. Various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. The leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.


The global smart contracts market is expected to reach approximately 300 USD Million by the end of 2023 with 32% CAGR during the forecasted period from 2017 – 2023.


Segments


For the purpose of this study, Market Research Future has segmented the market of smart contracts into Blockchain platform, technology, end - users, and region.


Blockchain Platform



  • Bitcoin

  • Sidechains

  • NXT

  • Ethereum


Technology



  • Ethereum

  • Rootstock (RSK)

  • Namecoin

  • Ripple

  • Others


End – User



  • Banking

  • Government

  • Management

  • Supply chain

  • Automobile

  • Insurance

  • Real estate

  • Healthcare


Region



  • North America

  • Europe

  • Asia pacific

  • Rest of the world.


Intended Audience



  • Storage providers

  • Network providers

  • Banking Institutions

  • Insurance providers

  • Higher management

  • Research firms

  • Software investors

  • Software Developers

  • IT enablers

  • Database solutions

  • Cloud providers

  • Insurance companies

  • Banks

  • Automotive and transportation

  • Telecommunication companies

TABLE OF CONTENTS

1    MARKET INTRODUCTION

      1.1    INTRODUCTION    

      1.2    SCOPE OF STUDY

            1.2.1    RESEARCH OBJECTIVE

            1.2.2    ASSUMPTIONS

            1.2.3    LIMITATIONS

      1.3    MARKET STRUCTURE

2    RESEARCH METHODOLOGY

      2.1    RESEARCH SMART CONTRACTS

      2.2    PRIMARY RESEARCH

      2.3    SECONDARY RESEARCH

      2.4    FORECAST MODEL

            2.4.1    MARKET DATA COLLECTION, ANALYSIS & FORECAST

            2.4.2    MARKET SIZE ESTIMATION

3    MARKET DYNAMICS 

      3.1    INTRODUCTION

      3.2    MARKET DRIVERS

      3.3    MARKET CHALLENGES

      3.4    MARKET OPPORTUNITIES 

      3.5    MARKET RESTRAINTS

4    EXECUTIVE SUMMARY 

5.    MARKET FACTOR ANALYSIS

      5.1    PORTER’S FIVE FORCES ANALYSIS

      5.2    SUPPLY CHAIN ANALYSIS

6    SMART CONTRACTS MARKET, BY SEGMENTS

      6.1    INTRODUCTION

      6.2    MARKET STATISTICS

            6.2.1    BY BLOCKCHAIN PLATFORM

                6.2.1.1    BITCOIN

                6.2.1.2    SIDECHAINS

                6.2.1.3    NXT

                6.2.1.4    ETHEREUM

            6.2.2    BY TECHNOLOGY

                6.2.2.1    ETHEREUM

                6.2.2.2    ROOTSTOCK (RSK)

                6.2.2.3    NAMECOIN

                6.2.2.4    RIPPLE

                6.2.2.5    OTHERS

            6.2.3    BY END USERS

                6.2.3.1    BANKING

                6.2.3.2    GOVERNMENT

                6.2.3.3    MANAGEMENT

                6.2.3.4    SUPPLY CHAIN

                6.2.3.5    AUTOMOBILE

                6.2.3.6    REAL ESTATE

                6.2.3.7    INSURANCE

                6.2.3.8    HEALTHCARE

            6.2.4    BY REGION 

                6.2.4.1    NORTH AMERICA

                  6.2.4.1.1    U.S.

                  6.2.4.1.2    CANADA

                  6.2.4.1.3    MEXICO

                6.2.4.2    EUROPE

                  6.2.4.2.1    U.K.

                  6.2.4.2.2    GERMANY

                  6.2.4.2.3    FRANCE

                  6.2.4.2.4    ITALY

                  6.2.4.2.5    REST OF THE EUROPE

                6.2.4.3    ASIA PACIFIC

                  6.2.4.3.1    CHINA

                  6.2.4.3.2    JAPAN

                  6.2.4.3.3    SOUTH KOREA

                  6.2.4.3.4    INDIA

                  6.2.4.3.5    REST OF THE ASIA PACIFIC

                6.2.4.4    REST OF THE WORLD

7    COMPETITIVE ANALYSIS

      7.1    MARKET SHARE ANALYSIS

7.2    COMPANY PROFILES

            7.2.1    MONAX INDUSTRIES LIMITED (U.K.)

            7.2.2    MONETAS (SWITZERLAND)

            7.2.3    BLOCKSTREAM CORPORATION (U.S.)

            7.2.4    COINBASE, INC (U.S.)

            7.2.5    BITFINEX (HONG KONG)

            7.2.6    BLOCKCYPHER, INC (U.S.)

            7.2.7    CHAIN, INC.(U.S.)

            7.2.8    COINIFY APS (DENMARK)

            7.2.9    BITPAY, INC (U.S.)

            7.2.10    GOCOIN PTE. LTD (SINGAPORE)

            7.2.11    OTHERS

LIST OF TABLES

TABLE 1    SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 2    SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 3    SMART CONTRACTS MARKET, BY END USERS

TABLE 4    SMART CONTRACTS MARKET, BY REGION

TABLE 5    NORTH AMERICA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 6    NORTH AMERICA SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 7    NORTH AMERICA SMART CONTRACTS MARKET, BY END USERS

TABLE 8    U.S. SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 9    U.S. SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 10    U.S. SMART CONTRACTS MARKET, BY END USERS

TABLE 11    CANADA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 12    CANADA SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 13    CANADA SMART CONTRACTS MARKET, BY END USERS

TABLE 14    MEXICO SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 15    MEXICO SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 16    MEXICO SMART CONTRACTS MARKET, BY END USERS

TABLE 17    EUROPE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 18    EUROPE SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 19    EUROPE SMART CONTRACTS MARKET, BY END USERS

TABLE 20    U.K. SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 21    U.K. SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 22    U.K. SMART CONTRACTS MARKET, BY END USERS

TABLE 23    GERMANY SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 24    GERMANY SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 25    GERMANY SMART CONTRACTS MARKET, BY END USERS

TABLE 26    FRANCE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 27    FRANCE SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 28    FRANCE SMART CONTRACTS MARKET, BY END USERS

TABLE 29    ITALY SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 30    ITALY SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 31    ITALY SMART CONTRACTS MARKET, BY END USERS

TABLE 32    REST OF EUROPE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 33    REST OF EUROPE SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 34    REST OF EUROPE SMART CONTRACTS MARKET, BY END USERS

TABLE 35    ASIA PACIFIC SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 36    ASIA PACIFIC SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 37    ASIA PACIFIC SMART CONTRACTS MARKET, BY END USERS

TABLE 38    CHINA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 39    CHINA SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 40    CHINA SMART CONTRACTS MARKET, BY END USERS

TABLE 41    JAPAN SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 42    JAPAN SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 43    JAPAN SMART CONTRACTS MARKET, BY END USERS

TABLE 44    SOUTH KOREA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 45    SOUTH KOREA SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 46    SOUTH KOREA SMART CONTRACTS MARKET, BY END USERS

TABLE 47    INDIA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 48    INDIA SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 49    INDIA SMART CONTRACTS MARKET, BY END USERS

TABLE 50    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 51    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 52    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY END USERS

TABLE 53    REST OF WORLD SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM

TABLE 54    REST OF WORLD SMART CONTRACTS MARKET, BY TECHNOLOGY

TABLE 55    REST OF WORLD SMART CONTRACTS MARKET, BY END USERS

LIST OF FIGURES

FIGURE 1    RESEARCH BLOCKCHAIN PLATFORM

FIGURE 2    SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 3    SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 4    SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 5    SMART CONTRACTS MARKET, BY REGION (%)

FIGURE 6    NORTH AMERICA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 7    NORTH AMERICA SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 8    NORTH AMERICA SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 9    U.S. SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 10    U.S. SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 11    U.S. SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 12    CANADA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 13    CANADA SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 14    CANADA SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 15    MEXICO SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 16    MEXICO SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 17    EUROPE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 18    EUROPE SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 19    EUROPE SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 20    U.K. SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 21    U.K. SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 22    U.K. SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 23    GERMANY SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 24    GERMANY SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 25    GERMANY SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 26    FRANCE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 27    FRANCE SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 28    FRANCE SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 29    ITALY SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 30    ITALY SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 31    ITALY SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 32    REST OF EUROPE SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 33    REST OF EUROPE SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 34    REST OF EUROPE SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 35    ASIA PACIFIC SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 36    ASIA PACIFIC SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 37    ASIA PACIFIC SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 38    CHINA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 39    CHINA SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 40    CHINA SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 41    JAPAN SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 42    JAPAN SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 43    JAPAN SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 44    SOUTH KOREA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 45    SOUTH KOREA SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 46    SOUTH KOREA SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 47    INDIA SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 48    INDIA SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 49    INDIA SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 50    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 51    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 52    REST OF ASIA PACIFIC SMART CONTRACTS MARKET, BY END USERS (%)

FIGURE 53    REST OF WORLD SMART CONTRACTS MARKET, BY BLOCKCHAIN PLATFORM (%)

FIGURE 54    REST OF WORLD SMART CONTRACTS MARKET, BY TECHNOLOGY (%)

FIGURE 55    REST OF WORLD SMART CONTRACTS MARKET, BY END USERS (%)