The Blockchain Market report is a complete overview of the market, covering various aspects product definition, segmentation based on various parameters, and the prevailing vendor landscape. The report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Market. Top players and brands are making moves such as developments, products launches, acquisitions, merges, joint ventures and competitive research in the Blockchain market.
The global blockchain market accounted for USD 242.4 million in 2017 and is projected to grow at a CAGR of 79.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017, and the forecast period is 2018 to 2025.
Some Of The Key Players In Blockchain Market Include:
- Amazon Web Services (AWS)
- Digital Asset
- Chain-Sys Corporation
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This market report defines the trends and forecast the upcoming opportunities and threats of the blockchain market in the upcoming 8 years. Blockchain is just a digitalized immutable ledger of economic transactions which can record not only the financial transactions but everything related to value. It can be used during payments, smart contracts, digital identity risk and compliance management and many more.
One of the major factors such as increase in the adoption of blockchain technology is driving the market demand. This has increased the annual savings for banks and also has reduced infrastructure cost. For instance, According to DMR, around USD 8-12 billion were reported as annual savings for the banks who have utilized blockchain technology.
Segmentation by Organization Size:
- Small Sized
- Medium Sized
- Large Sized
Segmentation by Application
- Smart Contracts
- Digital Identity
- Risk & Compliance Management
- Supply Chain Management
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Market Segmentation: Global Blockchain Market
The global blockchain market is segmented based on organization size, applications, end users and geographical segments.
Based on organization size, the global blockchain market is segmented into small and medium sized enterprise and large sized enterprise.
On the basis of application, the global blockchain market is segmented into payments, documentation, smart contracts, digital identity, exchanges, governance, risk, and compliance management, supply chain management and others.
On the basis of end users, the global blockchain market is segmented into government and public sector, healthcare and life sciences, banking, financial services and insurance, transportation and logistics, retail and ecommerce, media and entertainment, IT and telecommunication, travel and hospitality, real estate and others.
Based on geography, the global blockchain market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Blockchain Market
The global blockchain market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Major Market Drivers and Restraints:
- Helps in total ownership cost reduction, transparency, and faster transaction
- Growth in blockchain services
- Increase in the adoption of blockchain technology with respect to payments, digital identities and smart contracts
- Introduction of new breed of programmable blockchain platforms
- Inventions regarding internet of things (IOT)
- Lack of standard and indefinite regulatory norms
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