HOME Top Market Reports Blockchain Technology Market by Provider, Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Clearing and Settlement), Organization Size, Vertical, and Region - Global Forecast to 2021

Blockchain Technology Market by Provider, Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Clearing and Settlement), Organization Size, Vertical, and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: October 2016
Report Code: TC 4638

 

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The blockchain technology market size is estimated to grow from USD 210.2 Million in 2016 to USD 2,312.5 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 61.5% during the forecast period. In the report, 2015 is considered the base year, while the forecast period is 2016–2021.

The objective of the report is to define, describe, and forecast the blockchain technology market on the basis of providers, applications, deployment modes, organization sizes, verticals, and regions, and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). The report strategically analyzes each subsegment with respect to individual growth trends, future prospects, and contribution to the total market.

The research methodology used to estimate and forecast the blockchain technology market begins with capturing data on key vendor’s revenues through secondary sources such as the industry associations and consortiums such as Wall Street Blockchain Alliance (WSBA), R3 CEV Blockchain Consortium, World Economic Forum, Hyperledger Foundation, and other sources such as company financials, journals, press releases, paid databases, and annual reports. The vendor offerings are 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 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 key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the below figure:

Blockchain Technology Market

To know about the assumptions considered for the study, download the pdf brochure

The blockchain technology ecosystem comprises blockchain technology vendors, such as Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), and Earthport (U.K.). Other stakeholders of the blockchain technology market include blockchain technology service providers, consulting firms, IT service providers, resellers, and technology providers.

The target audiences of the blockchain technology market report are given below:

  • Government agencies
  • Blockchain technology vendors
  • Network solution providers
  • Independent software vendors
  • Consulting firms
  • Payment gateway providers
  • Value-added resellers
  • Financial services firms

The study answers several questions for the stakeholders; primarily, which market segments to focus in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the blockchain technology market to forecast the revenues and analyze the trends in each of the following subsegments:

By Provider

  • Application and solution provider
  • Middleware provider
  • Infrastructure and protocols provider

By Application

  • Payments
  • Exchanges
  • Smart contracts
  • Documentation
  • Digital identity
  • Clearing and settlement
  • Others

By Organization Size

  • Small and Medium Enterprises (SMEs)
  • Large enterprises

By Industry Vertical

  • BFSI
  • Government and public sector
  • Healthcare and life sciences
  • Retail and ecommerce
  • Automotive
  • Media and entertainment
  • Others

By Region

  • North America
  • Europe
  • MEA
  • APAC
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Bockchain Technology Market
    4.2 Market Share Across Various Regions
    4.3 Industry Verticals and Region Market
    4.4 Life Cycle Analysis, By Region, 2016

5 Blockchain Technology Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Provider
           5.3.2 By Application
           5.3.3 By Organization Size
           5.3.4 By Industry Vertical
           5.3.5 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Transparency and Immutability
                    5.4.1.2 Faster Transactions
                    5.4.1.3 Reduced Total Cost of Ownership
           5.4.2 Restraints
                    5.4.2.1 Uncertain Regulatory Status
                    5.4.2.2 Lack of Awareness About Blockchain Technology
           5.4.3 Opportunities
                    5.4.3.1 Disruption in Technology Across Various Industries
                    5.4.3.2 High Adoption of Blockchain Technology for Payments, Smart Contracts, and Digital Identities
                    5.4.3.3 New Breed of Programmable Blockchain Platforms
           5.4.4 Challenges
                    5.4.4.1 Security, Privacy, and Control
                    5.4.4.2 Scalability
                    5.4.4.3 Technical Understanding About the Blockchain Concept

6 Blockchain Technology Market: Industry Trends (Page No. - 43)
    6.1 Introduction
    6.2 Types of Blockchain Technology
           6.2.1 Public Blockchain
           6.2.2 Private Blockchain
    6.3 Blockchain Associations and Consortiums
           6.3.1 R3cev Blockchain Consortium
           6.3.2 Hyperledger
           6.3.3 Global Payments Steering Group (GPSG)
           6.3.4 Financial Blockchain Shenzhen Consortium (FBSC)
           6.3.5 Cu Ledger
           6.3.6 Blockchain Collaborative Consortium (BCCC)
           6.3.7 Wall Street Blockchain Alliance (WSBA)
    6.4 Strategic Benchmarking
           6.4.1 Strategic Benchmarking: New Product Development
           6.4.2 Strategic Benchmarking: Partnerships and Collaborations

7 Blockchain Technology Market Analysis, By Provider (Page No. - 48)
    7.1 Introduction
    7.2 Application and Solution Provider
    7.3 Middleware Provider
    7.4 Infrastructure and Protocols Provider

8 Blockchain Technology Market Analysis, By Application (Page No. - 53)
    8.1 Introduction
    8.2 Payments
    8.3 Exchanges
    8.4 Smart Contracts
    8.5 Documentation
    8.6 Digital Identity
    8.7 Others

9 Blockchain Technology Market Analysis, By Organization Size (Page No. - 64)
    9.1 Introduction
    9.2 Large Enterprises
    9.3 Small and Medium Enterprises (SMES)

10 Blockchain Technology Market Analysis, By Industry Vertical (Page No. - 68)
     10.1 Introduction
     10.2 Banking, Financial Services, and Insurance (BFSI)
     10.3 Government and Public Sector
     10.4 Healthcare and Life Sciences
     10.5 Retail and Ecommerce
     10.6 Automotive
     10.7 Media and Entertainment
     10.8 Others

11 Geographic Analysis (Page No. - 81)
     11.1 Introduction
     11.2 North America
             11.2.1 United States (U.S.)
             11.2.2 Canada
     11.3 Europe
             11.3.1 United Kingdom (U.K.)
             11.3.2 Germany
             11.3.3 Rest of Europe
     11.4 Asia-Pacific (APAC)
             11.4.1 China
             11.4.2 Australia and New Zealand (ANZ)
             11.4.3 Rest of Asia-Pacific
     11.5 Middle East and Africa (MEA)
             11.5.1 Middle East
             11.5.2 Africa
     11.6 Latin America
             11.6.1 Mexico
             11.6.2 Brazil
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 101)
     12.1 Overview
     12.2 Competitive Situations and Trends
             12.2.1 New Product Launches
             12.2.2 Partnerships and Collaborations
             12.2.3 Mergers and Acquisitions
             12.2.4 Venture Funding
             12.2.5 Business Expansions

13 Key Innovator Profiles (Page No. - 112)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     13.1 Introduction
     13.2 Microsoft Corporation
     13.3 IBM Corporation
     13.4 Deloitte
     13.5 Ripple
     13.6 Chain, Inc.
     13.7 BTL Group (Blockchain Tech Ltd.)
     13.8 Global Arena Holding, Inc. (GAHI)
     13.9 Digitalx Ltd. (Digital Cc Ltd.)
     13.10 Earthport
     13.11 Abra, Inc.
     13.12 Bitfury
     13.13 Coinbase
     13.14 Circle Internet Financial Limited
     13.15 Digital Asset Holdings
     13.16 21, Inc.
     13.17 Intelygenz
     13.18 Alphaphoint

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 147)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introduction RT: Real-Time Market Intelligence
     14.5 Available Customizations


List of Tables (67 Tables)

Table 1 Blockchain Technology Market Size and Growth, 2016–2021 (USD Million, Y-O-Y %)
Table 2 Market Size, By Provider , 2015-2021 (USD Million)
Table 3 Application and Solution Provider: Market Size, By Region, 2015-2021 (USD Million)
Table 4 Middleware Provider: Market Size, By Region, 2015-2021 (USD Million)
Table 5 Infrastructure and Protocols Provider: Market Size, By Region, 2015-2021 (USD Million)
Table 6 Blockchain Technology Market Size, By Application, 2015-2021 (USD Million)
Table 7 Payments: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 8 Payments: Market Size, By Region, 2015-2021 (USD Million)
Table 9 Exchanges: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 10 Exchanges: Market Size, By Region, 2015-2021 (USD Million)
Table 11 Smart Contracts: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 12 Smart Contracts: Market Size, By Region, 2015-2021 (USD Million)
Table 13 Documentation: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 14 Documentation: Market Size, By Region, 2015-2021 (USD Million)
Table 15 Digital Identity: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 16 Digital Identity: Market Size, By Region, 2015-2021 (USD Million)
Table 17 Others: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 18 Others: Market Size, By Region, 2015-2021 (USD Million)
Table 19 Market Size, By Organization Size, 2015-2021 (USD Million)
Table 20 Large Enterprises: Market Size, By Region, 2015-2021 (USD Million)
Table 21 Small and Medium Enterprises: Market Size, By Region, 2015-2021 (USD Million)
Table 22 Blockchain Technology Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 23 Banking, Financial Services, and Insurance: Market Size, By Application, 2015-2021 (USD Million)
Table 24 Banking, Financial Services, and Insurance: Market Size, By Region, 2015-2021 (USD Million)
Table 25 Government and Public Sector: Market Size, By Application, 2015-2021 (USD Million)
Table 26 Government and Public Sector: Market Size, By Region, 2015-2021 (USD Million)
Table 27 Healthcare and Life Sciences: Market Size, By Application, 2015-2021 (USD Million)
Table 28 Healthcare and Life Sciences: Market Size, By Region, 2015-2021 (USD Million)
Table 29 Retail and Ecommerce: Market Size, By Application, 2015-2021 (USD Million)
Table 30 Retail and Ecommerce: Market Size, By Region, 2015-2021 (USD Million)
Table 31 Automotive: Market Size, By Application, 2015-2021 (USD Million)
Table 32 Automotive: Market Size, By Region, 2015-2021 (USD Million)
Table 33 Media and Entertainment: Market Size, By Application, 2015-2021 (USD Million)
Table 34 Media and Entertainment: Market Size, By Region, 2015-2021 (USD Million)
Table 35 Others: Market Size, By Application, 2015-2021 (USD Million)
Table 36 Others: Market Size, By Region, 2015-2021 (USD Million)
Table 37 Blockchain Technology Market Size, By Region, 2015-2021 (USD Million)
Table 38 North America: Market Size, By Country, 2015-2021 (USD Million)
Table 39 North America: Market Size, By Provider, 2015-2021 (USD Million)
Table 40 North America: Market Size, By Application, 2015-2021 (USD Million)
Table 41 North America: Market Size, By Organization Size, 2015-2021 (USD Million)
Table 42 North America: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 43 Europe: Blockchain Technology Market Size, By Country, 2015-2021 (USD Million)
Table 44 Europe: Market Size, By Provider, 2015-2021 (USD Million)
Table 45 Europe: Market Size, By Application, 2015-2021 (USD Million)
Table 46 Europe: Market Size, By Organization Size, 2015-2021 (USD Million)
Table 47 Europe: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Country, 2015-2021 (USD Million)
Table 49 Asia-Pacific: Market Size, By Provider, 2015-2021 (USD Million)
Table 50 Asia-Pacific: Market Size, By Application, 2015-2021 (USD Million)
Table 51 Asia-Pacific: Market Size, By Organization Size, 2015-2021 (USD Million)
Table 52 Asia-Pacific: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 53 Middle East and Africa: Blockchain Technology Market Size, By Region, 2015-2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Provider, 2015-2021 (USD Million)
Table 55 Middle East and Africa: Market Size, By Application, 2015-2021 (USD Million)
Table 56 Middle East and Africa: Market Size, By Organization Size, 2015-2021 (USD Million)
Table 57 Middle East and Africa: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 58 Latin America: Market Size, By Country, 2015-2021 (USD Million)
Table 59 Latin America: Market Size, By Provider, 2015-2021 (USD Million)
Table 60 Latin America: Market Size, By Application, 2015-2021 (USD Million)
Table 61 Latin America: Market Size, By Organization Size, 2015-2021 (USD Million)
Table 62 Latin America: Market Size, By Industry Vertical, 2015-2021 (USD Million)
Table 63 New Product Launches, 2014-2016
Table 64 Partnerships and Collaborations, 2014–2016
Table 65 Mergers and Acquisitions, 2015–2016
Table 66 Venture Funding, 2014-2016
Table 67 Business Expansions, 2015-2016


List of Figures (45 Figures)

Figure 1 Blockchain Technology Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Blockchain Technology Market is Poised to Witness Growth in the Global Market for the Period 2016–2021
Figure 7 Market Snapshot on the Basis of Provider (2016 vs 2021)
Figure 8 Market Snapshot on the Basis of Application (2016 - 2021)
Figure 9 Market Snapshot on the Basis of Organization Size (2016 - 2021)
Figure 10 Market Snapshot on the Basis of Industry Vertical (2016 vs 2021)
Figure 11 Lucrative Market Prospects in the Market
Figure 12 North America Commands Over the Market By Covering the Largest Market Size in 2016
Figure 13 Banking, Financial Services, and Insurance Vertical and North America in Region Segment is Expected to Gain the Largest Market Size in the Year 2016
Figure 14 Asia-Pacific Soon to Enter Exponential Growth Phase During the Period 2016–2021
Figure 15 Evolution of the Blockchain Technology Market
Figure 16 Market Segmentation By Provider
Figure 17 Market Segmentation By Application
Figure 18 Market Segmentation By Organization Size
Figure 19 Market Segmentation By Industry Vertical
Figure 20 Market Segmentation By Region
Figure 21 Market Drivers, Restraints, Opportunities, and Challenges
Figure 22 New Product Development: Blockchain Technology Market
Figure 23 Partnerships and Collaborations
Figure 24 Application and Solution Provider Segment is Expected to Have the Highest CAGR During the Forecast Period
Figure 25 Digital Identity Application is Expected to Have the Highest CAGR During the Forecast Period
Figure 26 Small and Medium Enterprises Segment is Expected to Have the Higher CAGR During the Forecast Period
Figure 27 Media and Entertainment Vertical is Expected to Have the Highest CAGR During the Forecast Period
Figure 28 Asia-Pacific is Expected to Have the Highest CAGR During the Forecast Period
Figure 29 North America is Projected to Have the Highest Market Share in the Blockchain Technology Market
Figure 30 North America Market Snapshot
Figure 31 Asia-Pacific Market Snapshot
Figure 32 Companies Adopted the Strategy of Partnerships and Collaborations as the Key Growth Strategy During the Period 2014-2016
Figure 33 Market Evaluation Framework
Figure 34 Battle for Market Share: New Product Launch Was the Key Strategy in the Blockchain Technology Market
Figure 35 Microsoft Corporation: Company Snapshot
Figure 36 Microsoft Corporation: SWOT Analysis
Figure 37 IBM Corporation: Company Snapshot
Figure 38 IBM Corporation: SWOT Analysis
Figure 39 Deloitte: Company Snapshot
Figure 40 Deloitte: SWOT Analysis
Figure 41 Ripple: SWOT Analysis
Figure 42 Chain, Inc.: SWOT Analysis
Figure 43 Global Arena Holding, Inc. (GAHI): Company Snapshot
Figure 44 Digitalx Ltd.: Company Snapshot
Figure 45 Earthport: Company Snapshot

The blockchain technology market size is expected to grow from USD 210.2 Million in 2016 to USD 2,312.5 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 61.5% during the forecast period. The major growth drivers of the market are transparency & immutability, faster transactions, and reduced total cost of ownership.

The blockchain technology market is segmented by provider, application, organization size, industry vertical, and region. The infrastructure and protocols provider segment is expected to dominate the market during the forecast period, whereas the application and solution provider is projected to witness the highest growth rate due to the increased demand for fast processing applications for payments and transactions.

Payments application holds the largest share of the blockchain technology market in 2016. The need for banking and financial transactions has evolved from traditional payments systems to be seamlessly integrated into new and always connected lifestyle which is fueling the growth of blockchain-based payment solutions. The digital identity market is expected to grow at the highest rate as the blockchain technology would make digital identities more secure and efficient, resulting in seamless sign-ons and will reduce identity frauds.

The Banking, Financial Services, and Insurance (BFSI) sector is expected to dominate the market with the largest market share during the forecast period, whereas the media and entertainment vertical is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of blockchain technology across smart contracts, document management, and digital identities in the media industry.

Small and Medium Enterprises (SMEs) and large enterprises are rapidly deploying the blockchain technology solutions. The demand for blockchain technology solutions is increasing due to the cost-effective and time-efficient features; its growth is specifically high in SMEs, where low cost solutions are much required.

The global market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region is expected to become the largest revenue generating region for the blockchain technology vendors in 2016, followed by Europe. This is mainly because in the developed economies of the U.S. and Canada, there is high focus on distributed ledger technology innovations. The APAC region is expected to be the fastest growing region in the blockchain technology market which is primarily driven with high investments by financial technology in distributed ledger technology.

Blockchain Technology Market

The blockchain technology market faces challenges such as security, privacy & control, and scalability. Moreover, factors such as technical understanding about the blockchain concept hamper the market growth.

Major vendors that offer blockchain technology solutions across the globe are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), and Earthport (U.K.). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the blockchain technology market.

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