Blockchain Market By Application (Payments, Smart Contracts, Exchanges, Documentation) By Provider (Application and solution provider, Middleware Provider) By Organization Size(Small and Medium-Sized Enterprises (SMEs), Large enterprises) 2017 - 2023

The Block chain market has created waves around the globe, predominantly in the financial and digital marketing market, as it is welcoming widespread adoption in the coming years. The consequences of block chain technology witnessed rapid improvements in the financial sector. It has renewed the dynamics of the sale and purchase of cryptocurrencies with deeper implications on the financial world.

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This report aims to provide detailed insights on the factors leading to the growth of the block chain market – the prospects, restraints and industry specific challenges and analyse all small scale markets and its contributions to the world economic market.

Global Blockchain Market was valued at USD 357.7 Million in the year 2017. Global Blockchain Market is further estimated to grow at a CAGR of 74.5% from 2018 to reach USD 10.10 Billion by the year 2023. North America region holds the highest market share in 2017 and the Asia-Pacific market is considered as the fastest growing market in the forecasted period due to high adoption and acceptance of blockchain technology. At a country level, the U.S., Japan & China are projected to grow strongly in the coming years.

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JP Morgan Chase (U.S), IBM Blockchain (US), Microsoft Blockchain (US), Chain, Inc. (US), Amazon AWS (U.S) and Abra (US) are some of the key players in the Global Blockchain market. Rising research and development expenses to cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

Drivers:

• Rapidly growing cryptocurrency market
• Providing faster transactions

Restraints:

• Unregulated and not monitored by any central bank

Opportunities:

• Increasing traceability and customer experience
• Providing Security of online communications

Challenges:

• Security & privacy
• Lack of awareness about technology

The segmentation is done on the basis of provider, by application, by organization size, by industry vertical and by region. On the basis of application, the global blockchain market is sub-segmented as payments, smart contracts, exchanges, documentation, digital identity, supply chain management, governance, risk and compliance management and others (digital voting and content storage management) of which the payment segment is expected to hold the highest market share during the forecast period. On the basis of providers application and solution provider holds the highest market share in coming years.The segmentation is done on the basis of Industry Vertical, the real estate segment is expected to hold the highest market share among other industries. On the basis of Organization Size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises of which large enterprises is expected to grow at the highest CAGR during the forecasted period.

Key Benefits for Stakeholders

• Blockchain Manufacturers, Distributors, and Retailers
• Research and Consulting Organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries
• Regulatory bodies, policy actors, and consumers.

By Application

• Payments
• Smart Contracts
• Exchanges
• Documentation
• Digital Identity
• Supply chain management
• Governance, risk and compliance management
• Others (digital voting and content storage management)

By Provider

• Application and solution provider
• Middleware provider
• Infrastructure and protocol provider

By Organization Size

• Small and Medium-Sized Enterprises (SMEs)
• Large enterprises

By Industry Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Government and public sector
• Healthcare and life sciences
• Media and entertainment
• Retail and e-commerce
• Travel and hospitality
• Transportation and logistics
• Real estate
• IT and telecommunications
• Others (Automotive, Education, Energy and Utilities)

By Region

• North America
• Europe
• Asia-Pacific
• RoW

Key Market Players

• 360 Blockchain Inc.
• Amazon AWS
• Abra (US)
• Deloitte
• IBM Blockchain
• Microsoft Blockchain
• Chain, Inc.
• Ripple
• BTL Group
• Coinbase
• Axoni
• JP Morgan Chase

(A brief overview of 13 companies is also provided)

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About Us:

Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports. GMMR is growing strongly for last 2 decades with most of the clients providing repeat business for their trust on the data quality and recommendations for decision making.

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This release was published on openPR.