To provide an overview of the Blockchain market to determine how attractive it might be. The overview should include the size of the market, trends, drivers, challenges/unmet needs, a list of notable players in the market, and any information related to the major products/services offered by the notable players.
- As there was no geographic focus provided to us, we have assumed a global focus for this research.
Global Blockchain Market
- The size of the global blockchain market is expected to increase from $3 billion in 2020 to $39.7 billion by 2025, at a CAGR of 67.3% during 2020–2025.
- The Blockchain market is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises on the basis of organization size. The SMEs segment is expected to grow at a higher CAGR from 2020 to 2025. Hence, there will be a sharp increase in the number of blockchain startups over the forecast period.
- A regional analysis of the market indicates that North America will lead the global Blockchain throughout the forecast period (2020–2025). The North American Blockchain market procured $820 million revenue in 2017.
- Some of the major driving factors of this market are "increasing venture capital funding and investments in the blockchain technology, growing focus on reducing operational cost, and the increasing popularity of blockchain technology in retail and supply chain management.
- Key players and vendors of the blockchain technology include IBM (US), AWS (US), Microsoft (US), SAP (Germany), Intel (US), Oracle (US), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (UK), Guardtime (US), Digital Asset Holdings (US), Chain (US), Huawei (China), BlockCypher (US), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (Gibraltar), BlockPoint (US), Auxesis Group (India), BTL Group (Canada), Blockchain Foundry (UK), AlphaPoint (US), NTT Data (Japan), Factom (US), SpinSys (US), ConsenSys (US), Infosys (India), iXLedger (UK), and Stratis (UK).
- Some trends in the Blockchain industry include: Use of Blockchain As A Service (BAAS) by large tech companies, use of Blockchain to solve issues related to notorious scandals, privacy violations, data control, and content relevance on social media, integration of Blockchain into government agencies, and increasing demand for Blockchain experts.
US Blockchain Market
- The US is estimated to hold 40% of the global investment in Blockchain technology.
- The banking and financial services sector led the U.S. Blockchain technology market in 2017.
Proprietary Research Available
We found some proprietary research from one of our data partners which may be helpful:
Blockchain Market by Component (Platform and Services), Provider (Application, Middleware, and Infrastructure), Type (Private, Public, and Hybrid), Organization Size, Application Area (BFSI, Government, IT & Telecom), and Region — Global Forecast to 2025
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