Ability of blockchain distributed ledger to make an exchange without the intermediation of a third party is expected to provide lucrative opportunity for the market growth.
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The global blockchain distributed ledger market accounted for $228 million in 2016, and is expected to reach $5,430 million by 2023, registering a CAGR of 57.6% from 2017 to 2023.
Blockchain distributed ledger is a database, which serves as an online ledger keeping record of transactions that cannot be changed. In present connected and integrated world, economic activity occur in business networks that span national, geographical, and jurisdictional boundaries.
Transactions involve various participants such as buyers, sellers, and intermediaries (such as banks, auditors, or solicitors) whose business agreements and contracts are recorded in ledgers.
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A blockchain is a tamper-proof, pooled digital ledger that registers transactions in a public or private peer-to-peer network. The absence of a central authority in blockchain distributed ledger makes transactions faster.
In addition, it is more transparent as it can give regulators a clearer insight into the background of financial transactions, helping them battle money laundering and manage risk. These factors are expected to drive the adoption of blockchain distributed ledger in the coming years.
However, modern currencies have always been formed and controlled by national governments. Blockchain distributed ledger faces a barrier in widespread adoption by pre-existing financial institutions, which acts as a restraint of the market.
The global blockchain distributed ledger market is segmented based on type, end user, and geography. By type, the market is bifurcated into private blockchain and public blockchain.
On the basis of end user, it is categorized government, BFSI, automotive, retail & e-commerce, media & entertainment, and others. Geographically, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Major companies profiled in the report include Chain Inc., IBM Corporation, Accenture PLC, Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, and Earthport.
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POTENTIAL BENEFITS FOR STAKEHOLDERS
- Comprehensive analysis of the current trends and future estimations in the global blockchain distributed ledger market is provided.
- The report offers a competitive scenario of the market with growth trends, structure, driving factors, scope, opportunities, and challenges.
- It includes a detailed analysis of the key segments to provide insights on market dynamics.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers and the competitive structure of the market to devise effective growth strategies and facilitate better decision-making.
Blockchain Distributed Ledger Market Key Segmentation:
- Private Blockchain
- Public Blockchain
BY END USER
- Retail & e-Commerce
- Media & Entertainment
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- Chain Inc.
- IBM Corporation
- Accenture PLC
- Eris Industries
- Intel Corporation
- Blockchain Tech Ltd.
- Microsoft Corporation
- Digital Asset Holdings
Other players in the value chain include (profiles not included in the report):
- Abra, Inc.
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