Blockchain Market Growth by Key Players: IBM, AWS, Microsoft, HPE, SAP, R3, Peer Ledger, Ripple, Abra, Alphapoint, Amazon Web Services, Asta Solutions, Bacoor, Bitfury, BitSE, Blocko, Blockstream
Blockchain Market is anticipated to exceed USD 16 billion mark by 2024 due to the growing investments in the blockchain market space. The venture capitalist and angel investors are investing in the blockchain based start-ups via private equity financing and ICOs. In 2017, an increase of over 50% in the venture capital investment was witnessed. This is encouraging the new players to work on the cutting-edge technology and explore new applications and business models.
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The growing adoption among the financial institutions is also one of the major factors augmenting the demand for the product market. The ability of the technology to increase the efficiency and reduce the cost of operations is also impacting the market. Moreover, the technology is also developing myriad growth opportunities and spurring further competition from the FinTech companies in the existing BFSI sector.
Top Key Players:-
The market is characterized as highly competitive owing to the presence of both, multinational players and start-ups. The key vendors of the blockchain market are IBM, Microsoft, SAP, AWS, Ripple, R3, Alphapoint, Bitfury, Bacoor, Blocko, BitSE, Bloq, Blockstream, BTL Group, Coinbase, Chain, Digital Asset Holdings, Digiledge, and Earthport.
Market share calculation in this report is not done based on companies covered in it. The calculation of blockchain market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America held more than 50% stake in the blockchain market in 2017. The supportive government initiative & policy for driving the adoption of the blockchain technology among the public-sector companies is the major force supporting the market. Moreover, the presence of the major market players in the region also fosters the market growth. Whereas, Asia Pacific is predicted to grow at a CAGR of over 87% during the forecast period. The increasing investment in the blockchain market space from countries including China, India, and Switzerland, is driving the market growth.
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Partial Chapter of the Table of Content
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.6. Methodology & forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Blockchain industry 360º synopsis, 2016 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Providers trends
2.1.4. Application trends
2.1.5. End-Use trends
Chapter 3. Global Blockchain Industry Insights
3.2. Industry segmentation
3.3. Industry landscape, 2016 - 2024
3.4. Blockchain architecture analysis
3.5. Industry ecosystem analysis
3.6. Blockchain evolution
3.7. Type of blockchain
3.8. Market news
3.9. Technology & innovation landscape
3.10. Regulatory landscape
3.11. Use cases
3.11.3. Supply Chain Management
3.11.4. Internet of thing (IoT) and edge computing
3.11.6. Radiation-hardened computing
3.12. Blockchain consortium
3.12.1. Blockchain Collaborative Consortium (BCCC)
3.12.2. Cls Group
3.12.3. CU Ledger
3.12.4. Financial Blockchain Shenzhen Consortium (FBSC)
3.12.7. R3cev Blockchain Consortium
3.12.8. Wall Street Blockchain Alliance (WSBA)
3.13. Industry impact forces
3.13.1. Growth drivers
18.104.22.168. Growing adoption of distributed ledger among banking and financial institutes
22.214.171.124. Rising market capitalization of cryptocurrencies
126.96.36.199. Increasing venture capital investment in Blockchain and ICOs
188.8.131.52. Benefits offered by the technology
3.13.2. Industry pitfalls & challenges
184.108.40.206. Stringent government regulations
220.127.116.11. Data safety & security
18.104.22.168. Limited scalability
3.14. Growth potential analysis
3.15. Porter’s analysis
3.16. PESTEL analysis
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Payments and wallets are leading the application landscape with more than 50% stake in the blockchain market. The numerous benefits offered by the blockchain-based payment solutions such as transparency, speed, and cost-effectiveness are the major factors that foster the market growth. Moreover, there is an ability of the distributed ledger technology to eliminate the middlemen or requirement of the central authority for making the cross-border payments.
Digital identity market is predicted to grow substantially during the forecast interval at a CAGR of more than 95%. The requirement for the reliable and secure international identification system and the growing risk of cyberattacks are the major forces driving the market. Smart contract market is also estimated to grow significantly at the growth rate of over 80% during the forecast timeline.
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