Press release
Blockchain Distributed Ledger Market Report - Global Outlook and Forecast 2020-2028
Blockchain Distributed Ledger Market | Emergen Research
Blockchain distributed ledger technology provides better data security to its client enterprises. In general, enterprises are required to stock and share private data between different shareholders involved in a project. Blockchain distributed ledgers help them to store and manage that private information with high level of security. Restricting identity theft, ending denial of service attacks, and avoiding data tampering are three aspects in which blockchain distributed ledgers ensure data security to enterprises. In addition, lower risk of backdoor transactions and reduced unauthorized intervention are some of key benefits of using this technology. It effectively helps to improve payment clearing processes and for this reason, banks and other financial institutions are widely using blockchain distributed ledgers.
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Based on the competitive landscape, the market report analyzes the key companies operating in the industry: Intel Corporation, NTT DATA Corporation, Amazon Web Services, Inc., Global Arena Holding, Inc., International Business Machine (IBM) Corporations, Digital Asset Holdings, LLC, Huawei Technologies Co., Ltd., AlphaPoint, and iXledger.
Some major factors expected to hamper market revenue growth include scalability and data immutability. Blockchain distributed ledgers are not scalable. This technology slows down as more users or nodes join the network because transactions depend mainly on network congestion. Another problem arising with use of blockchain distributed ledgers is data immutability. Data cannot be erased once it is written. A person using blockchain distributed ledger technology would be unable to erase its trace from the system. In addition, high implementation cost restricts wider deployment and in turn is restraining global blockchain distributed ledger market growth.
Some Key Highlights from the Report
In 2021, global digital currency platform, Intercoin, partnered with India Blockchain Alliance. This collaboration is geared to accelerate exposure of blockchain distributed ledger by implementing cryptocurrencies and NFTs for businesses, organizations, and universities.
Solution segment accounted for significantly large revenue share in 2020. Solution permits digital ledger network and application developers to customize distributed ledger networks. In addition, high demand for solutions such as Ethereum, Hyper Ledger Fabric in cross industries and R3 Corda, and Ripple in financial services is driving revenue growth of this segment.
Private segment accounted for largest revenue share in 2020 owing to ability to limit participation in transactions and therefore, lower risk. It is relatively inexpensive to change regulations and transaction processes by using blockchain distributed ledger technology.
In 2020, payment segment accounted for significantly robust revenue share owing to benefits such as improved transparency and efficiency in payment operations. Use of blockchain distributed ledger technology enables one to transfer payments from one country to another country, within a short time period. In addition, along with high degree of transparency, blockchain distributed ledgers ensure payment authenticity, and this feature is expected to support deployment, and boost revenue growth of this segment.
BFSI segment accounted for a significantly large revenue share in 2020. Banks and other financial organizations are increasingly using digital ledger solution in order to optimize company processes, and this solution also helps in reducing operational costs.
Market in Europe registered significantly large revenue share in 2020, attributed to increasing demand from various end-use sectors including BFSI, government, and real estate. Government initiatives such as major investment in digital currencies coupled with technological advancements and increasing demand for secured database are major factors driving deployment of blockchain distributed ledger market growth in this region.
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Emergen Research has segmented the global blockchain distributed ledger market on the basis of component, type, enterprise size, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018-2028)
Solution
Services
Type Outlook (Revenue, USD Billion; 2018-2028)
Private
Public
Hybrid
Enterprise Size Outlook (Revenue, USD Billion; 2018-2028)
Large Enterprise
Small & Medium Enterprise
Application Outlook (Revenue, USD Billion; 2018-2028)
Payments
Smart Contracts
Supply Chain Management
Compliance Management
Trade Finance
Others
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End-use Outlook (Revenue, USD Billion; 2018-2028)
BFSI
Government & Public
Manufacturing
Retail & E-Commerce
Media & Entertainment
Transportation & Logistics
Healthcare
Energy & Utilities
Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Singapore
Australia
Rest of APAC
Latin America
Brazil
Argentina
Chile
Rest of LATAM
Middle East & Africa
Saudi Arabia
South Africa
UAE
Rest Of MEA
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Key Benefits of Buying the Global Blockchain Distributed Ledger Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Blockchain Distributed Ledger Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Blockchain Distributed Ledger Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Blockchain Distributed Ledger Market
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