Global Blockchain Market Size Analysis, 2018-2028
| REPORT ID: BKR664 | Domain: ICT | Published Date: April 2018 |
Global Blockchain Market Size Analysis
The Global Blockchain Market Size is estimated to be valued over USD 702.3 Million in 2018 and will register a CAGR of 56.7% to create high revenue opportunity for industry players during the forecast period (2018-2028).
Blockchain is a type of distributed ledger technology that organizes data into blocks and are stacked or chained together in an append mode. It eliminates the use of a third party authentication systems and provides an efficient process thus reducing the cost of transactions. This technology caters to challenges in the financial sector and has the potential to transform various other sectors such as government, manufacturing, and energy and utilities.
In addition, over 15 % of the large banks currently deployed this technology for their business processes. Rapid growth of bitcoin and other cryptocurrencies, has increased the adoption of blockchain technology and are expanding the use cases for the market. For instance; Since the launch of Ethereum in 2015 sets apart from bitcoin as it can be used to build “smart contracts”— based on a set of criteria established in the Ethereum blockchain. This has led to various large firms to use the concept of this technology for smart contracts in order to save time and increase efficiency and authenticity. Currently various blockchain companies are focusing on enhancing their services through product development of blockchain technology at the core as well as at the application layer level
Global Blockchain Market Drivers and Challenges
Global blockchain market is driven primarily due to the growing demand of cryptocurrency market. The first successful deployment of blockchain technology was in the cryptocurrency platform were it provided a robust ledger system that records transactions between two parties in a permanent way without the requirement for any third-party authentication. Since then it found various applications across industries. In addition to other factors such as reduced total cost of ownership, creating a transparent and immutable business processes. These aforementioned factors are expected to drive the blockchain market in the near future.
This technology is still nascent and various research and pilot programs have been initiated by government, central banks and other stakeholders. Certain challenges such as limited scalability, security, privacy are expected to hamper the market to a certain extent.
Global Blockchain Market Analysis, By End-use Verticals
Blockchain market size will be driven by usage across wide range of applications namely – BFSI, Healthcare, Government, Automotive, Retail, Telecom, IT services, Transportation and Logistics, Media & Entertainment, Gaming Industry, Others.
BFSI and Government segments will cumulatively accounts for largest share of global demand in 2018 primarily due to the improving the data infrastructure. Various governments and authorities in certain countries such as U.S. and U.A.E. are deploying blockchain technology to improve data management in the public sector. For instance; In January 2017, the Department of Homeland Security, U.S. awarded a blockchain contract to Factom Inc. under the project title “Prove Integrity of Captured Data From Border Devices.”
Global Blockchain Market Analysis, By Type
Private blockchain currently dominates the global blockchain market with over 53% market share in 2018 and is forecast to witness a high CAGR during the forecast period. It is primarily attributed to increasing demand of encrypted technology in BFSI and retail sectors. In addition, to increasing research and development activities across various verticals with respect to deployment of private blockchain. For instance; in February 2018, Tech Bureau, a Japan-based blockchain company, announced that Fujitsu Limited and Japan Net Bank are testing blockchain technology integrations using Mijin, Tech Bureau’s private blockchain platform utilizing the NEM protocol, and the Hyperledger platform.
Global Blockchain Market Analysis, By Organization Type
Large scale enterprise segment currently dominates the blockchain market primarily due to high adoption among large scale financial services providers. In April 2018, ICICI Bank, an India-based financial and banking service provider, announced that it has deployed over 250 of its customers on to its blockchain platform that can avail domestic as well as international trade activities using this technology.
Global Blockchain Market Size and Forecast: Regional Analysis
The market in North America currently dominates the global blockchain market followed by Europe, primarily due to early adoption of the technology by various regional as well as local government and agencies. For instance; government in countries in Europe such as the UK, Ukraine, and Estonia are experimenting with blockchains to battle corruption and deliver transparent public services. In addition to various local government in the U.S. have already initiated deploying blockchain technology at their backend in order to manage public data.
Asia Pacific blockchain market pose a lucrative opportunity for players to invest in the coming years and is forecast to grow at a high rate during the forecast period. This is primarily due to growing adoption of blockchain technology across various verticals especially in BFSI and government sectors in the region.
Global Blockchain Market Size and Forecast: Competition Landscape
Global blockchain market outlook is substantially fragment with various small and medium-sized players. Some of the key players in the blockchain market are Chain Inc., IBM Corporation, Accenture PLC, Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, and Earthport and among others are provided in this report.
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Blockchain Market Industry Segmentation
BY Type
- Private Blockchain
- Public Blockchain
By End-use Verticals:
- BFSI
- Healthcare
- Government
- Automotive
- Retail
- Telecom
- IT services
- Transportation and Logistics
- Media & Entertainment
- Others
By Organization Size:
- Large Scale Enterprises
- Mid-Scale Enterprises
- Small Scale Enterprises
By Application:
- Exchanges
- Payments
- Contracts
- Documentation
- Digital Identity
- Supply Chain Management
- Governance, Risk and compliance management
- Others
What Will You Discover in the Report?
- An in-depth analysis of the Blockchain market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Blockchain market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Blockchain market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Blockchain industry during the forecast period
- Who are the Blockchain industry leaders and what are the key initiatives taken by them for long term growth
Analyst access with Bekryl Market Analysts
Purchasing of Blockchain market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.
Blockchain Market Size TOC
- Report Structure
- Research Methodology
- Market Engineering Factors Weightage
- Market Share Methodology
- Executive Summary
- Key Findings
- Market Engineering Factors
- Industry Expert Perspectives
- Market Definitions
- The Global Blockchain Market Value
- Overall Market Forecast
- Blockchain Growth Outlook, By Segments
- Blockchain Growth Scenario, by Region
- The Blockchain Industry Ecosystem
- Parent Market Overview
- Industry Value Chain
- Growth Factor Analysis
- Key Industry Players By Region
- The Blockchain Industry Dynamics
- Drivers
- Challenges
- Opportunities
- Mega Trends
- Geographical Trends
- Industry Experts Views
- Merger Acquisition and Compliances, By Selected countries
- Global Blockchain Industry Value and Forecast
- Introduction
- Industry Initiatives
- Industry Predictive Analysis
- Blockchain Industry Segment Comparative Ranking Analysis
- Key Companies Involved and Initiatives
- Global Industry Opportunity Proposition Analysis
- Market Share Analysis, (%)
- Global Blockchain Market Size and Forecast, (2017-2027)
- Market Value Forecast (US$ Million)
- Growth Analysis (Y-o-Y) and Forecast
- Global Blockchain Industry Size and Forecast, By Segments
Blockchain Market Data, BY Type
- Private Blockchain
- Public Blockchain
Blockchain Market Data, By End-use Verticals:
- BFSI
- Healthcare
- Government
- Automotive
- Retail
- Telecom
- IT services
- Transportation and Logistics
- Media & Entertainment
- Others
By Organization Size:
- Large Scale Enterprises
- Mid-Scale Enterprises
- Small Scale Enterprises
By Application:
- Exchanges
- Payments
- Contracts
- Documentation
- Digital Identity
- Supply Chain Management
- Governance, Risk and compliance management
- Others
- North America Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis
- North America Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- North America Blockchain Market, By Segments (As mentioned in section 10 of TOC)
- S. Blockchain Market Size and Forecast, By Segments
- Canada Blockchain Market Size and Forecast, By Segments
- Latin America Blockchain Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Latin America (South America) Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Latin America Blockchain Market, By Segments (As mentioned in section 10 of TOC)
- Brazil Blockchain Market Size and Forecast, By Segments
- Argentina
- Mexico
- Rest of Latin America
(Blockchain industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Western Europe Blockchain Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Western Europe Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Western Europe Blockchain Market, By Segments (As mentioned in section 10 of TOC)
- Germany Blockchain Market Size and Forecast, By Segments
- UK
- France
- Spain
- Italy
- NORDIC
- Switzerland
- Rest of Western Europe
(Blockchain industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Central and Eastern Europe (CEE) Blockchain Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Regional Countries
- Central and Eastern Europe Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Central and Eastern Europe Blockchain Market, By Segments (As mentioned in section 10 of Blockchain Market TOC)
- Russia Blockchain Market Size and Forecast, By Segments
- Poland
- Ukraine
- Rest of CEE
(Blockchain industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Asia Pacific Blockchain Industry Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Asia Pacific Countries
- Asia Pacific Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Asia Pacific Blockchain Market, By Segments (As mentioned in section 10 of TOC)
- Japan Blockchain Market Size and Forecast, By Segments
- China
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
(Blockchain industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Middle East Blockchain Market Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Middle East Countries
- Middle East Blockchain Market Analysis
- Industry Size and Forecast, (2017-2027)
- Industry Share (%)
- Industry Growth Forecast (%)
- Middle East Blockchain Market, By Segments (As mentioned in section 10 of TOC)
- GCC Blockchain Market Size and Forecast, By Segments
- Israel
- Rest of Middle East
(Blockchain industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Africa Blockchain Market Value and Forecast
- Introduction
- Industry Initiatives
- Bekryl Predictive Analysis
- Comparative Ranking Analysis, By Segments (As mentioned in section 10)
- Key Companies Involved and Initiatives, By Region
- Industry Value Proposition Analysis, By Africa Countries
- Market Share Analysis, (%)
- Africa Blockchain Industry Size and Forecast, (2017-2027)
- Africa Blockchain Industry Share (%)
- Africa Blockchain Industry Growth Forecast (%)
- South Africa Blockchain Market Size and Forecast, By Segments
- Algeria
- Nigeria
(Blockchain industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)
- Blockchain Market Competitive Landscape
- Competition Dashboard
- Funding and Investment
- Company Market Positioning
- Marketing Mix Strategies
- Product Level Strategies
- Go-to-Market Strategies
- SWOT Analysis
- Key Developments, By Companies
- Company Profiles*
- IBM Corporation,
- Microsoft Corporation,
- Accenture PLC, Chain Inc.,
- Intel Corporation,
- Eris Industries,
- Blockchain Tech Ltd.,
- Deloitte,
- Digital Asset Holdings,
- Earthport
- Analyst Opinion
- Summary and Conclusion
- For more Information, Bekryl can help
*(SWOT, Key Developments, and Strategies are based on individual companies)
To access the detailed Blockchain industry TOC and sample research pages, download sample.
Blockchain Market Report Structure
Blockchain Industry Dynamics
This section enables Blockchain industry stakeholders to understand the prevalent market conditions and help them prioritize their investment strategy. Factors that are favorable to Blockchain market growth is equated with challenges – resulting in proper growth strategy module. Drivers and challenges provide early assessment of current Blockchain industry trends and keep industry leaders abreast of latest happenings.
This section includes:
- Market Drivers
- Market Challenges
- Blockchain Industry Trends
- Blockchain Value Chain Analysis
- Marketing Opportunities
- Regulatory Aspects
- Blockchain Industry Experts Market Opinion
Industry Analysis, By Segments
Industry stakeholders receive detailed analysis of the Blockchain industry trends. Anticipate key market trends across market analysis segments with Bekryl Market Analysts model.
Each segment has research framework, essential to understand the market scenario in near future.
Each segment includes:
- Market Size and Forecast
- Annual Growth Rate Analysis (AGR)
- Key Trends, By segments
- Key Industry Developments
- Investment Proposition Analysis
- Potential Addressable Market Analysis
- Growth Factor, By Segment Analysis
This section helps in understanding the overall demand across end-users. As such, the industry stakeholders are able to minimize the operational cost and take better strategic decisions.
Competition Landscape
Keep abreast of key strategies of industry leaders and regional Blockchain industry players. Company profiles allow industry stakeholders to competitor’s strategic decision and understand how these affect their own business.
This section include:
- Competition dashboard
- SWOT Analysis by Companies
- Go-to-market sales strategy
- Financial performances subject to listed companies
- Market Share Analysis
- Analyst Recommendation
Regional Market Analysis
Regional analysis help industry leaders to better understand the dynamics of their current market and determine which regional market their company should target to strengthen their market presence globally. The Blockchain market report offers industry scenario in 24+ countries. Regional section focus on economic context, regulatory framework, supply demand balance trends and key regional companies engaged in the market.
This section include:
- Market Size by Country and Region
- Market Opportunity, By Country and Region
- Regional Trends
- Growth Analysis and Forecast
Country Profiles
Country profiles help industry leaders to better analyze the market at root level – thereby framing strategies that could add value to the overall organization. This section contains information pertaining to key developments and research framework mapping the potential attractive end-users. Factors are equated with macroeconomic conditions to help leaders minimize operational risks if any
North America Blockchain Market Size
- S.
- Canada
Latin America Blockchain Market Size
- Brazil
- Mexico
- Argentina
- Rest of Latin America
(*Blockchain Market value analyzed across each Latin America country)
Western Europe Blockchain Market Size
- Germany
- UK
- France
- Switzerland
- Spain
- Italy
- NORDIC
- Rest of Western Europe
(*Blockchain Market value analyzed across each Western Europe country)
Central and Eastern Europe Blockchain Industry Analysis
- Russia
- Poland Meat
- Ukraine Meat
- Rest of Eastern Europe
(*Blockchain Market value analyzed across each Central and Eastern Europe country)
Asia Pacific Blockchain Industry Size
- China
- India
- Japan
- Australia
- South Korea
- ASEAN Meat
- Rest of Asia Pacific
(*Blockchain Market value analyzed across each Asia Pacific country)
Middle East Blockchain Industry Size
- GCC
- Israel
- Rest of Middle East
(*Blockchain Market value analyzed across each Middle East country)
Africa Blockchain Industry Size
- South Africa
- Algeria
- Nigeria
- Rest of Africa
Blockchain Market Research Methodology
Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.
Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.
Blockchain Market Growth Forecasting Methodology
In order to prepare historical data and analyze Blockchain market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for Blockchain market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.
- Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
- The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.
With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast Blockchain market revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.
The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries. Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes Blockchain industry growth is nearly 3.5X to 5.5X higher than the relative GDP.
Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.
- Base Factors Growth Analysis
- Price Variation Analysis
- Potential Consumer Mapping
Blockchain Industry Players: Competition Landscape Methodology
Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.
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