INFORMATION & COMMUNICATION TECHNOLOGY
Global Blockchain Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Blockchain Market, By Type (Public, Private, Hybrid, Consortium), Component (Platform, Services, Technology advisory and consulting service, Development and Integration service, Support and maintenance), Provider (Application and Solution Providers, Middleware Providers, Infrastructure Providers), Platform (Ethereum, Hyperledger, R3 Corda, Polygon, Solana, BSC, Terra, Other Platforms, , and ), Development (Proof of concept, Pilot, Production), Organization Size (Large Enterprises, Small & Medium-sized Enterprises), Sector (BFSI, Government Organizations, Healthcare & Life Sciences, Retail & E-commerce, Energy & Utility, Professional Services, Media & Entertainment, Manufacturing, Other Sectors, and ), Application (Digital Currency, Asset Protection & Transfer, Identity Protection, Payments, Data Reconciliation & Sharing, Track and Trace, Certification, Other Applications), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global blockchain market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Blockchain is a decentralized digital ledger technology that securely and openly records transactions across numerous machines. It functions as a series of blocks, each of which has a cryptographic hash of the one before it, guaranteeing the integrity of the data and making it resistant to manipulation. This technology spans multiple industries and goes beyond finance, serving as the foundation for cryptocurrencies such as Bitcoin and Ethereum. The Blockchain market includes supply chain management, healthcare records, voting systems, and more beyond cryptocurrency. It lowers costs and increases transparency by enabling safe, effective, and verifiable transactions. The Blockchain market is growing due to advancements in smart contract technology, decentralized finance (DeFi), and enterprise blockchain solutions, as businesses investigate the possibilities of this technology for improving trust and operational efficiency.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Growing demand for transparent and secure transaction systems.
- Cost-efficiency through reduced intermediaries.
RESTRAINTS
- Scalability issues limiting transaction speed.
- Lack of common standards and interoperability.
OPPORTUNITIES
- Expansion into new sectors like healthcare and government services.
- Blockchain-as-a-Service (BaaS) offerings.
CHALLENGES
- Regulatory uncertainty and compliance issues.
- Technological complexity and interoperability challenges.
SEGMENTATION
- Type
- Public
- Private
- Hybrid
- Consortium
- Component
- Platform
- Services
- Technology advisory and consulting service
- Development and Integration service
- Support and maintenance
- Provider
- Application and Solution Providers
- Middleware Providers
- Infrastructure Providers
- Platform
- Ethereum
- Hyperledger
- R3 Corda
- Polygon
- Solana
- BSC
- Terra
- Other Platforms
- Development
- Proof of concept
- Pilot
- Production
- Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- Application
- Digital Currency
- Asset Protection & Transfer
- Identity Protection
- Payments
- Data Reconciliation & Sharing
- Track and Trace
- Certification
- Other Applications
- Sector
- BFSI
- Government Organizations
- Healthcare & Life Sciences
- Retail & E-commerce
- Energy & Utility
- Professional Services
- Media & Entertainment
- Manufacturing
- Other Sectors
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- IBM Corporation
- Microsoft Corporation
- Accenture
- Amazon
- SAP SE
- Bitfury Group Limited
- Ripple Labs Inc.
- Hewlett Packard Enterprise Development LP (HPE)
- Oracle Corporation
- INTEL
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Blockchain Market, by Type
- 3.2 Global Blockchain Market, by Component
- 3.3 Global Blockchain Market, by Provider
- 3.4 Global Blockchain Market, by Platform
- 3.5 Global Blockchain Market, by Development
- 3.6 Global Blockchain Market, by Organization Size
- 3.7 Global Blockchain Market, by Sector
- 3.8 Global Blockchain Market, by Application
- 3.9 Global Blockchain Market, by Geography
- 3.10 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Increased adoption of blockchain in supply chain management and logistics.
- 5.1.2 Integration of blockchain with the Internet of Things (IoT) for enhanced security.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Growing demand for transparent and secure transaction systems.
- 5.2.2 Cost-efficiency through reduced intermediaries.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Scalability issues limiting transaction speed.
- 5.3.2 Lack of common standards and interoperability
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion into new sectors like healthcare and government services.
- 5.4.2 Blockchain-as-a-Service (BaaS) offerings.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Regulatory uncertainty and compliance issues.
- 5.5.2 Technological complexity and interoperability challenges.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL BLOCKCHAIN MARKET, BY TYPE
- 6.1 Type Summary
- 6.2 Market Attractive Index
- 6.3 Global Blockchain Market, by Type (2019-2032)
- SECTION 7 - GLOBAL BLOCKCHAIN MARKET, BY COMPONENT
- 7.1 Component Summary
- 7.2 Market Attractive Index
- 7.3 Global Blockchain Market, by Component (2019-2032)
- SECTION 8 - GLOBAL BLOCKCHAIN MARKET, BY PROVIDER
- 8.1 Provider Summary
- 8.2 Market Attractive Index
- 8.3 Global Blockchain Market, by Provider (2019-2032)
- SECTION 9 - GLOBAL BLOCKCHAIN MARKET, BY PLATFORM
- 9.1 Platform Summary
- 9.2 Market Attractive Index
- 9.3 Global Blockchain Market, by Platform (2019-2032)
- SECTION 10 - GLOBAL BLOCKCHAIN MARKET, BY DEVELOPMENT
- 10.1 Development Summary
- 10.2 Market Attractive Index
- 10.3 Global Blockchain Market, by Development (2019-2032)
- SECTION 11 - GLOBAL BLOCKCHAIN MARKET, BY ORGANIZATION SIZE
- 11.1 Organization Size Summary
- 11.2 Market Attractive Index
- 11.3 Global Blockchain Market, by Organization Size (2019-2032)
- SECTION 12 - GLOBAL BLOCKCHAIN MARKET, BY SECTOR
- 12.1 Sector Summary
- 12.2 Market Attractive Index
- 12.3 Global Blockchain Market, by Sector (2019-2032)
- SECTION 13 - GLOBAL BLOCKCHAIN MARKET, BY APPLICATION
- 13.1 Application Summary
- 13.2 Market Attractive Index
- 13.3 Global Blockchain Market, by Application (2019-2032)
- SECTION 14 - GLOBAL BLOCKCHAIN MARKET, BY GEOGRAPHY
- 14.1 Regional Summary
- 14.2 Market Attractive Index
- 14.3 Global Blockchain Market, by Geography (2019-2032)
- SECTION 15 - NORTH AMERICA BLOCKCHAIN MARKET
- 15.1 North America Summary
- 15.2 Market Attractive Index
- 15.3 North America Blockchain Market, by Type (2019-2032)
- 15.4 North America Blockchain Market, by Component (2019-2032)
- 15.5 North America Blockchain Market, by Provider (2019-2032)
- 15.6 North America Blockchain Market, by Platform (2019-2032)
- 15.7 North America Blockchain Market, by Development (2019-2032)
- 15.8 North America Blockchain Market, by Organization Size (2019-2032)
- 15.9 North America Blockchain Market, by Sector (2019-2032)
- 15.10 North America Blockchain Market, by Application (2019-2032)
- 15.11 North America Blockchain Market, by Country (2019-2032)
- 15.11.1 U.S.
- 15.11.2 Canada
- 15.11.3 Mexico
- 15.11.4 Rest of North America
- SECTION 16 - EUROPE BLOCKCHAIN MARKET
- 16.1 Europe Summary
- 16.2 Market Attractive Index
- 16.3 Europe Blockchain Market, by Type (2019-2032)
- 16.4 Europe Blockchain Market, by Component (2019-2032)
- 16.5 Europe Blockchain Market, by Provider (2019-2032)
- 16.6 Europe Blockchain Market, by Platform (2019-2032)
- 16.7 Europe Blockchain Market, by Development (2019-2032)
- 16.8 Europe Blockchain Market, by Organization Size (2019-2032)
- 16.9 Europe Blockchain Market, by Sector (2019-2032)
- 16.10 Europe Blockchain Market, by Application (2019-2032)
- 16.11 Europe Blockchain Market, by Country (2019-2032)
- 16.11.1 Germany
- 16.11.2 U.K.
- 16.11.3 France
- 16.11.4 Italy
- 16.11.5 Spain
- 16.11.6 Russia
- 16.11.7 The Netherlands
- 16.11.8 Belgium
- 16.11.9 Turkey
- 16.11.10 Rest of Europe
- SECTION 17 - ASIA-PACIFIC BLOCKCHAIN MARKET
- 17.1 Asia-Pacific Summary
- 17.2 Market Attractive Index
- 17.3 Asia-Pacific Blockchain Market, by Type (2019-2032)
- 17.4 Asia-Pacific Blockchain Market, by Component (2019-2032)
- 17.5 Asia-Pacific Blockchain Market, by Provider (2019-2032)
- 17.6 Asia-Pacific Blockchain Market, by Platform (2019-2032)
- 17.7 Asia-Pacific Blockchain Market, by Development (2019-2032)
- 17.8 Asia-Pacific Blockchain Market, by Organization Size (2019-2032)
- 17.9 Asia-Pacific Blockchain Market, by Sector (2019-2032)
- 17.10 Asia-Pacific Blockchain Market, by Application (2019-2032)
- 17.11 Asia-Pacific Blockchain Market, by Country (2019-2032)
- 17.11.1 China
- 17.11.2 India
- 17.11.3 Japan
- 17.11.4 South Korea
- 17.11.5 Singapore
- 17.11.6 Malaysia
- 17.11.7 Australia
- 17.11.8 Thailand
- 17.11.9 Philippines
- 17.11.10 Rest of Asia-Pacific
- SECTION 18 - SOUTH AMERICA BLOCKCHAIN MARKET
- 18.1 South America Summary
- 18.2 Market Attractive Index
- 18.3 South America Blockchain Market, by Type (2019-2032)
- 18.4 South America Blockchain Market, by Component (2019-2032)
- 18.5 South America Blockchain Market, by Provider (2019-2032)
- 18.6 South America Blockchain Market, by Platform (2019-2032)
- 18.7 South America Blockchain Market, by Development (2019-2032)
- 18.8 South America Blockchain Market, by Organization Size (2019-2032)
- 18.9 South America Blockchain Market, by Sector (2019-2032)
- 18.10 South America Blockchain Market, by Application (2019-2032)
- 18.11 South America Blockchain Market, by Country (2019-2032)
- 18.11.1 Brazil
- 18.11.2 Argentina
- 18.11.3 Chile
- 18.11.4 Colombia
- 18.11.5 Rest of South America
- SECTION 19 - MIDDLE EAST AND AFRICA BLOCKCHAIN MARKET
- 19.1 Middle East and Africa Summary
- 19.2 Market Attractive Index
- 19.3 Middle East and Africa Blockchain Market, by Type (2019-2032)
- 19.4 Middle East and Africa Blockchain Market, by Component (2019-2032)
- 19.5 Middle East and Africa Blockchain Market, by Provider (2019-2032)
- 19.6 Middle East and Africa Blockchain Market, by Platform (2019-2032)
- 19.7 Middle East and Africa Blockchain Market, by Development (2019-2032)
- 19.8 Middle East and Africa Blockchain Market, by Organization Size (2019-2032)
- 19.9 Middle East and Africa Blockchain Market, by Sector (2019-2032)
- 19.10 Middle East and Africa Blockchain Market, by Application (2019-2032)
- 19.11 Middle East and Africa Blockchain Market, by Country (2019-2032)
- 19.11.1 Kingdom of Saudi Arabia
- 19.11.2 South Africa
- 19.11.3 U.A.E.
- 19.11.4 Egypt
- 19.11.5 Rest of Middle East and Africa
- SECTION 20 - COMPANY SHARE ANALYSIS
- 20.1 Global Blockchain Market, Company Share Analysis
- 20.2 North America Blockchain Market, Company Share Analysis
- 20.3 Europe Blockchain Market, Company Share Analysis
- 20.4 Asia-Pacific Blockchain Market, Company Share Analysis
- SECTION 21 - COMPANY PROFILES
- 21.1 IBM Corporation
- 21.1.1 Company Snapshot
- 21.1.2 Financial Overview
- 21.1.3 Product Portfolio
- 21.1.4 Recent Developments
- 21.2 Microsoft Corporation
- 21.2.1 Company Snapshot
- 21.2.2 Financial Overview
- 21.2.3 Product Portfolio
- 21.2.4 Recent Developments
- 21.3 Accenture
- 21.3.1 Company Snapshot
- 21.3.2 Financial Overview
- 21.3.3 Product Portfolio
- 21.3.4 Recent Developments
- 21.4 Amazon
- 21.4.1 Company Snapshot
- 21.4.2 Financial Overview
- 21.4.3 Product Portfolio
- 21.4.4 Recent Developments
- 21.5 SAP SE
- 21.5.1 Company Snapshot
- 21.5.2 Financial Overview
- 21.5.3 Product Portfolio
- 21.5.4 Recent Developments
- 21.6 Bitfury Group Limited
- 21.6.1 Company Snapshot
- 21.6.2 Financial Overview
- 21.6.3 Product Portfolio
- 21.6.4 Recent Developments
- 21.7 Ripple Labs Inc.
- 21.7.1 Company Snapshot
- 21.7.2 Financial Overview
- 21.7.3 Product Portfolio
- 21.7.4 Recent Developments
- 21.8 Hewlett Packard Enterprise Development LP (HPE)
- 21.8.1 Company Snapshot
- 21.8.2 Financial Overview
- 21.8.3 Product Portfolio
- 21.8.4 Recent Developments
- 21.9 Oracle Corporation
- 21.9.1 Company Snapshot
- 21.9.2 Financial Overview
- 21.9.3 Product Portfolio
- 21.9.4 Recent Developments
- 21.10 INTEL
- 21.10.1 Company Snapshot
- 21.10.2 Financial Overview
- 21.10.3 Product Portfolio
- 21.10.4 Recent Developments
- SECTION 22 - RELATED REPORTS
- SECTION 23 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.