Global Blockchain Market
Global Blockchain Market was valued at USD 4.9 billion in 2021 and is anticipated to reach at USD 68.7 by 2027 at a CAGR of 69.8 % from 2022-2027.
Blockchain is a decentralised, immutable database that makes it easier to track assets and record transactions in a corporate network. An asset may be physical (such as a home, car, money, or land) or intangible (intellectual property, patents, copyrights, branding). Blockchain aims to empower the distribution and recording of digital information without its modification. So, a blockchain serves as the basis for immutable ledgers, or records of transactions that cannot be changed, removed, or destroyed.
Market Drivers
The market expansion can be ascribed to rising venture capital investment in blockchain technology businesses. The corporation used this money to grow both inside and externally. There will likely be further prospects for market expansion as a result of the legalisation of cryptocurrencies in nations like El Salvador and Ukraine. Many businesses are attempting to combine blockchain technology and Artificial Intelligence (AI) capabilities to improve their services and open up new potential for market expansion. The market's expansion is mostly attributable to the expanding demand for digital identity on a global scale. Another important factor that will contribute to the market's expansion over the predicted period of time is the growing acceptance of identification platforms based on blockchain technology in several nations throughout the world. Additionally, it is projected that the market would develop over the next few years as a result of the rising capitalization of market-related cryptocurrencies.
Market Restraints
The complex integration process linked to blockchain technology might limit the market's expansion. Additionally, it's likely that a shortage of technical staff may impede market expansion globally. One of the main barriers to the adoption of blockchain across most industries is the absence of rules and the accompanying uncertainties. One of the most difficult aspects of changing transaction systems is regulatory acceptance. Regulatory agencies must comprehend how the total technical applications are impacted by the current legislation in light of the ongoing technological breakthroughs. Global financial organisations are attempting to establish uniform rules for the blockchain market.
Impact of COVID-19
Despite the COVID-19 epidemic, the market expanded in 2021. The creation of a framework for managing the COVID-19 epidemic relies heavily on blockchain technology. Blockchain technology is being used by numerous hospitals to track the COVID-19 vaccine. This device is being used by two hospitals, one in Warwick (London) and the other in Stratford-upon-Avon, to monitor the storage of the COVID-19 vaccine, which is temperature-sensitive.
Market Segmentation
Global Blockchain Market is segmented into Type, Component, Enterprise Size, End-User, Application &Services. By Type such as Public Cloud, Private Cloud, Hybrid Cloud. By Component such as Application & Solution, Infrastructure & Protocols, Middleware. By Enterprise Size such as Large Enterprises, Small & Medium Enterprises. By End-User such as Financial Services, Government, Healthcare, Media & Entertainment, Retail, Transportation & Logistics, Travel, Others. By Services Such as Technology Advisory and Consulting, Development and Integration Services, Support and Maintenance. By Application such as Digital Identity, Exchanges, Payments, Smart Contracts, Supply Chain, Management, Others.
Regional Analysis
Global Blockchain Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2021, the North America regional market led the world market and generated more than 37.0% of worldwide sales. The expansion of the regional market is being driven by the region's businesses adopting blockchain technology more frequently. Blockchain technologies are becoming necessary as a result of the implementation of payment and wallet solutions, smart contracts, and digital identity detection solutions by sectors like government, retail, and BFSI. The market in Asia Pacific, on the other hand, is anticipated to expand at the fastest CAGR over the forecast period. The usage of blockchain technology has been encouraged by the governments of nations like China, Japan, and India. This is mostly a result of the advantages that this technology provides to numerous businesses, including high transparency and increased efficiency.
Key Players
This report includes a list of numerous Key Players, namely IBM Corp., Microsoft Corp., The Linux Foundation, BTL Group Ltd., Chain, Inc., Circle Internet Financial Ltd., Deloitte Touche Tohmatsu Ltd., Digital Asset Holdings, LLC, Global Arena Holding, Inc. (GAHI), Monax.
Market Taxonomy
By Component
• Application & Solution
• Infrastructure & Protocols
• Middleware.
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises.
By End-User
• Financial Services
• Government
• Healthcare, Media & Entertainment
• Retail
• Transportation & Logistics
• Travel
• Others.
By Services
• Technology Advisory and Consulting
• Development and Integration Services
• Support and Maintenance.
By Application
• Digital Identity
• Exchanges
• Payments
• Smart Contracts
• Supply Chain
• Management
• Others.
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Blockchain Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Blockchain Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Blockchain Market, By Component
5.1 Y-o-Y Growth Comparison, By Component
5.2 Global Blockchain Market Share Analysis, By Component
5.3 Global Blockchain Market Size and Forecast, By Component
5.3.1 Application & Solution
5.3.2 Infrastructure & Protocols
5.3.3 Middleware.
6 Global Blockchain Market, By Enterprise Size
6.1 Y-o-Y Growth Comparison, By Enterprise Size
6.2 Global Blockchain Market Share Analysis, By Enterprise Size
6.3 Global Blockchain Market Size and Forecast, By Enterprise Size
6.3.1 Large Enterprises
6.3.2 Small & Medium Enterprises.
7 Global Blockchain Market, By End-user industry
7.1 Y-o-Y Growth Comparison, By End-user industry
7.2 Global Blockchain Market Share Analysis, By End-user industry
7.3 Global Blockchain Market Size and Forecast, By End-user industry
7.3.1 Financial Services
7.3.2 Government
7.3.3 Healthcare, Media & Entertainment
7.3.4 Retail
7.3.5 Transportation & Logistics
7.3.6 Travel
7.3.7 Others.
8 Global Blockchain Market, By Services
8.1 Y-o-Y Growth Comparison, By Services
8.2 Global Blockchain Market Share Analysis, By Services
8.3 Global Blockchain Market Size and Forecast, By Services
8.3.1 Technology Advisory and Consulting
8.3.2 Development and Integration Services
8.3.3 Support and Maintenance
9 Global Blockchain Market, By Application
9.1 Y-o-Y Growth Comparison, By Application
9.2 Global Blockchain Market Share Analysis, By Application
9.3 Global Blockchain Market Size and Forecast, By Application
9.3.1 Digital Identity
9.3.2 Exchanges
9.3.3 Payments
9.3.4 Smart Contracts
9.3.5 Supply Chain
9.3.6 Management
9.3.7 Others.
10 Global Blockchain Market, By Region
10.1 Global Blockchain Market Share Analysis, By Region
10.2 Global Blockchain Market Share Analysis, By Region
10.3 Global Blockchain Market Size and Forecast, By Region
11 North America Blockchain Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 North America Blockchain Market Share Analysis, By Component
11.3 North America Blockchain Market Size and Forecast, By Enterprise Size
11.4 North America Blockchain Market Size and Forecast, By End-user industry
11.5 North America Blockchain Market Size and Forecast, By Services
11.6 North America Blockchain Market Size and Forecast, By Application
11.7 North America Blockchain Market Size and Forecast, By Country
11.7.1 U.S.
11.7.2 Canada
11.7.3 Mexico
12 Europe Blockchain Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Europe Blockchain Market Share Analysis, By Component
12.3 Europe Blockchain Market Size and Forecast, By Enterprise Size
12.4 Europe Blockchain Market Size and Forecast, By End-user industry
12.5 Europe Blockchain Market Size and Forecast, By Services
12.6 Europe Blockchain Market Size and Forecast, By Application
12.7 Europe Blockchain Market Size and Forecast, By Country
12.7.1 Germany
12.7.2 France
12.7.3 UK
12.7.4. Rest of Europe
13 Asia Pacific Blockchain Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Asia Pacific Blockchain Market Share Analysis, By Component
13.3 Asia Pacific Blockchain Market Size and Forecast, By Enterprise Size
13.4 Asia Pacific Blockchain Market Size and Forecast, By End-user industry
13.5 Asia Pacific Blockchain Market Size and Forecast, By Services
13.6 Asia Pacific Blockchain Market Size and Forecast, By Application
13.7 Asia Pacific Blockchain Market Size and Forecast, By Country
13.7.1 China
13.7.2 Japan
13.7.3 India
13.7.4. Rest of Asia Pacific
14 Latin America Blockchain Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Latin America Blockchain Market Share Analysis, By Component
14.3 Latin America Blockchain Market Size and Forecast, By Enterprise Size
14.4 Latin America Blockchain Market Size and Forecast, By End-user industry
14.5 Latin America Blockchain Market Size and Forecast, By Services
14.6 Latin America Blockchain Market Size and Forecast, By Application
14.7 Latin America Blockchain Market Size and Forecast, Country
14.7.1. Brazil
14.7.2. Rest of Latin America
15 Middle East Blockchain Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Blockchain Market Share Analysis, By Component
15.3 Middle East Blockchain Market Size and Forecast, By Enterprise Size
15.4 Middle East Blockchain Market Size and Forecast, By End-user industry
15.5 Middle East Blockchain Market Size and Forecast, By Services
15.6 Middle East Blockchain Market Size and Forecast, By Application
15.7 Middle East Blockchain Market Size and Forecast, By Country
15.7.1. Saudi Arabia
15.7.2. UAE
15.7.3. Egypt
15.7.4. Kuwait
15.7.5. South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1 IBM Corp
17.1.1 Overview
17.1.2 Types
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2. Microsoft Corp
17.2.1 Overview
17.2.2 Types
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. The Linux Foundation
17.3.1 Overview
17.3.2 Types
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 BTL Group Ltd
17.4.1 Overview
17.4.2 Types
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5 Chain, Inc
17.5.1 Overview
17.5.2 Types
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 Circle Internet Financial Ltd
17.6.1 Overview
17.6.2 Types
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 Deloitte Touche Tohmatsu Ltd
17.7.1 Overview
17.7.2 Types
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 Digital Asset Holdings
17.8.1 Overview
17.8.2 Types
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 Global Arena Holding, Inc.
17.9.1 Overview
17.9.2 Types
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10 Monax.
17.10.1 Overview
17.10.2 Types
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies
