[199 Pages Report] The Blockchain Market size was estimated at USD 12.55 billion in 2023 and expected to reach USD 16.67 billion in 2024, at a CAGR 33.81% to reach USD 96.47 billion by 2030.
Blockchain is a highly secure database shared across a network of computer systems that facilitates the process of recording transactions, tracking assets, and sharing transparent information in a business network. The rising need for secure, transparent, and quick transactions in supply chain management, retail, and financial services is raising the adoption of blockchain technology across the sectors owing to its multi-party, real-time tracking ability of price, date, location, bank guarantees, and letters of credit. Favorable government initiatives and increasing funding for real-time data analysis, enhanced visibility, and proactive maintenance is expanding the scope of blockchain. However, uncertain industry regulations, concerns regarding scalability issues, and a lack of skilled experts have been hampering the growth of blockchain technology. Moreover, investments by various end-user industries and the potential integration of blockchain technology with the Internet of Things (IoT) and artificial intelligence (AI) are expected to provide lucrative opportunities for the blockchain market.
Regional Insights
The development of independent and sustainable blockchain development by banks across Europe and the initiative of the European Parliament on crypto-assets tracking is expanding the scope of blockchain across Europe. The government initiatives to implement blockchain technologies in the government and administrative applications in the Middle East have been contributing to the growth of blockchain across the EMEA region. The ongoing initiatives of the U.S. government to develop its own digital currency are expected to create lucrative opportunities for blockchain companies across the Americas to grow. Moreover, the rising investments and initiatives of China, Japan, and India to develop blockchain systems for multiple applications, such as launching next-generation crypto projects and developing security exchange platforms, are fostering the scope for blockchain across the Asia-Pacific.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Blockchain Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Blockchain Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Blockchain Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Accubits Technologies, Amazon Web Services, Inc., Appinventiv, BigchainDB GmbH, Bitfury Holding B.V., Cegeka NV, Chain by Stellar Development Foundation, Cognizant Technology Solutions Corporation, ConsenSys Software Inc., Digital Asset Holdings, LLC, Goldman Sachs, Hewlett Packard Enterprise Development LP, HIVE Blockchain Technologies Ltd., Huawei Cloud Computing Technologies Co., Ltd., Infosys Limited, Intel Corporation, International Business Machines Corporation, LeewayHertz, Microsoft Corporation, Oracle Corporation, PixelPlex Ltd., RSM US LLP., SAP SE, ScienceSoft USA Corporation, Suffescom Solutions Inc., Syncron Holding AB, TATA Consultancy Services Limited, ThinkSys Inc., TIBCO by Cloud Software Group, Inc., VMware, Inc. by Broadcom Inc., and Wipro Limited.
Market Segmentation & Coverage
This research report categorizes the Blockchain Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Services
- Development & Integration Services
- Support & Maintenance
- Technology Advisory & Consulting Services
- Software & Platforms
- Services
- Provider
- Application & Solution Providers
- Infrastructure & Protocols Providers
- Middleware Providers
- Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Manufacturing
- Media & Entertainment
- Telecommunication & Information Technology
- Travel & Hospitality
- Application
- Cross-Border Payments and Settlements
- Energy Settlements
- Identity Management
- Lot Lineage/Provenance
- Property Ownership Management
- Supply Chain Management
- Trade Finance & Post-Trade Settlements
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Blockchain Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Blockchain Market?
- What are the technology trends and regulatory frameworks in the Blockchain Market?
- What is the market share of the leading vendors in the Blockchain Market?
- Which modes and strategic moves are suitable for entering the Blockchain Market?
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