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Global Blockchain Distributed Ledger Market Comprehensive Study: Forecasted Market Size And Growth Rate
Blockchain Distributed Ledger Market
The Business Research Company offers in-depth market insights through Blockchain Distributed Ledger Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The blockchain distributed ledger market size has grown exponentially in recent years. It will grow from $14.11 billion in 2023 to $22.92 billion in 2024 at a compound annual growth rate (CAGR) of 62.4%. The growth in the historic period can be attributed to emergence of cryptocurrencies, particularly bitcoin, desire for transparent and tamper-proof recordkeeping, increased interest in decentralized systems, growing concerns about security and trust in digital transactions, adoption of smart contracts and automation.
The blockchain distributed ledger market size is expected to see exponential growth in the next few years. It will grow to $161.34 billion in 2028 at a compound annual growth rate (CAGR) of 62.9%. The growth in the forecast period can be attributed to expansion of decentralized finance (defi), implementation of central bank digital currencies, growing importance of tokenization, increased use of blockchain in identity management, rise of non-fungible tokens (nfts). Major trends in the forecast period include interoperability between different blockchains, integration of privacy-enhancing technologies in blockchain, environmental sustainability and green blockchain solutions, hybrid and consortium blockchain implementations, integration of blockchain in supply chain management.
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Market Segmentation:
The blockchain distributed ledger market covered in this report is segmented -
1) By Type: Private Blockchain, Public Blockchain
2) By Component: Solution, Service
3) By Application: Payments, Smart Contracts, Supply Chain Management, Compliance Management, Trade Finance, Other Applications
4) By End-Use Industry: BFSI, Government And Public Sector, Manufacturing, Retail And E-Commerce, Media And Entertainment, Transportation And Logistics, Healthcare, Energy And Utilities
Major Driver - The Surge In Private Blockchain Distributed Ledger Investments
An increase in investments in private blockchain distributed ledger technology across the globe is expected to propel the growth of the blockchain distributed ledger market going forward. A blockchain distributed ledger is a digital ledger database of all transactions used in financial services spread across numerous nodes, computers, organizations, or nations and is accessible and controlled by one or more businesses all over the world. The private blockchain distributed ledger technology offers advantages such as permission blockchain access, full privacy for data transactions, centralized process, less energy, reduced transaction costs, and data redundancies, simplified document handling, and getting rid of semi-manual compliance mechanisms. For instance, in June 2022, Binance Labs, a UK-based venture capital firm, invested USD500 million in funds for blockchain, Web3.0 start-ups, and value-building technologies. The investment is intended for initiatives to advance the adoption of blockchain technologies and expand the use cases for cryptocurrencies. Therefore, an increase in investments in private blockchain distributed ledger technology is driving the blockchain distributed ledger market growth.
Competitive Landscape:
Major companies operating in the blockchain distributed ledger market report are AlphaPoint, Amazon Web Services Inc., Auxesis Services And Technologies Ltd., Digital Asset Holdings LLC, Earthport, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, iXledger, NTT DATA Corporation, Eris Industries, Visa Inc., Microsoft Corporation, Chain Inc., Blockchain Tech Ltd., Capgemini, Deloitte Touche Tohmatsu Limited, Global Arena Holding Inc., Ethereum, BitFuryUsa Inc., Coinbase Inc., Abra Inc., Walmart Inc., Monero, Binance, Ripple, Bitmain Technologies Holding Company, Circle Internet Financial Limited, BitGo
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Top Trend - Technological Advancements In The Blockchain Distributed Ledger Market
Major market players are concentrating their efforts on implementing the technologically advanced solutions in various end-use industries that aid in enhancing transparency and reducing costs by removing processing overheads. For instance, in June 2021, Broadridge, a US-fintech company, launched their DLT Repo Platform which is a blockchain-enabled DLR allows for the immobilization of the underlying securities in the repo transactions, while transferring ownership via smart contracts executed on the platform. The distributed ledger platform's functionality considerably lowers the risk and operating costs associated with all repo activity. It can execute and settle repo transactions to give customers immediate advantages in the form of lower risk, lower operating costs, and increased liquidity while also hastening their digital transformation.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Blockchain Distributed Ledger Market Characteristics
3. Blockchain Distributed Ledger Market Trends And Strategies
4. Blockchain Distributed Ledger Market - Macro Economic Scenario
5. Blockchain Distributed Ledger Market Size And Growth
…..
27. Blockchain Distributed Ledger Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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