The global block chain market size is expected to grow from USD 411.5 million in 2017 to USD 7,683.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 79.6%.
The demand for distributed ledger technology, reduced total cost of ownership, rising crypto currencies market cap and initial coin offerings, increasing demand for simplified business processes, transparency and immutability, faster transactions, and Block chain-as-a-Service are said to fuel the growth of this market.
In addition, rising importance and adoption of block chain for communication service providers, transformation of international trade and supply chain management, new breed for programmable block chain platforms, and high adoption of block chain for payments, smart contracts, and digital identities would create opportunities for the growth of this market. However, uncertain regulatory status and a common set of standards might hinder the overall growth of the market.
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Objectives of the Study
The main objective of the report is to define, describe, and forecast the global blockchain market on the basis of providers, applications, organization sizes, verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
The report aims to strategically analyze the micro-markets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; venture funding; and Research and Development (R&D) activities in the market.
The research methodology used to estimate and forecast the blockchain market began with capturing data on key vendor revenues through secondary research, which included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation.
The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
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The blockchain market ecosystem comprises vendors, such as Abra (US), AlphaPoint (US), Amazon Web Services, Inc. (US), Bitfury Group Limited (US), BTL Group Ltd.
(Canada), Chain, Inc. (US), Coinbase (US), Digital Asset Holdings LLC. (US), Earthport PLC (UK), Factom (US), International Business Machines Corporation (US), Microsoft Corporation (US), and Ripple (US).
The other stakeholders of the blockchain market include cryptocurrency vendors, research organizations, network and system integrators, blockchain service providers, distributed ledger technology solution providers, marketing analytics executives, third-party service providers, and technology providers.
Blockchain Key Target Audience
- Service providers and distributors
- Blockchain application builders
- Customer experience management professionals
- Independent Software Vendors (ISVs)
- Analytics consulting companies
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The research report categorizes the blockchain market to forecast the revenues and analyze the trends in each of the following subsegments:
- Smart contracts
- Digital identity
- Supply chain management
- Governance, risk and compliance management
- Others (digital voting and content storage management)
- Application and solution provider
- Middleware provider
- Infrastructure and protocol provider
By Organization Size
- Small and Medium-Sized Enterprises (SMEs)
- Large enterprises
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