Market Analysis: Global 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.
Market Definition: Global Blockchain Market
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.
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
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.
Major Market Competitors: Global Blockchain Market
Some of the major players in global blockchain market are IBM Corporation, Microsoft Corporation, AWS, Digital Asset Holdings, Earthport, BTL Group, Chain, Inc., Factom, Ripple, Alphapoint, Bitfury, Coinbase and Abra among others.
Research Methodology: Global Blockchain Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.