Blockchain Technology Market: Industry Analysis and Forecast (2021-2027) by Type, Component, End-Use, and Region.

Block Chain Technology Market was valued at US$ 3.67 Bn. in 2020 and is expected to reach US$ 244.6 Bn. by 2027, at a CAGR of 82.2% during a forecast period.

Block chain Technology Market Overview:

Block chain Technology Market was valued at US$ 3.67 Bn. in 2020. The increasing acceptance of Block chain solutions due to their capacity to provide more transparency in financial transaction management in bitcoin, as well as increasing digitization, is propelling the Block chain market forward. Increased adoption of Block chain technology across a variety of business verticals, including retail, finance, e-commerce, and many others, is also contributing to the market's growth. Furthermore, because there are fewer risks of human error and the rate of digitization is increasing, Block chain is being more frequently used, resulting in significant market development. The market will rise as demand for cryptocurrency like as Bitcoin grows, as well as the use of cryptography grows. Block chain Technology Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report. COVID-19 Impact on Block chain Technology Market: The COVID-19 pandemic has an impact on all aspects of society, including individuals and corporations. The reliance on online enterprises has increased dramatically as a result of the COVID-19 outbreak. Manufacturing, healthcare and life sciences, logistics, BFSI, transportation, retail, and other industries use the internet to provide crucial services to consumers. The demand for a Block chain system has surged among vendors. With the increased usage of mobile devices and internet penetration around the world, people are becoming more interested in using Block chain. Organizations have become more vulnerable to privacy problems as a result of changing patterns and scattered IT architectures, fueling demand for Block chain solutions.

Block chain Technology Market Dynamics:

Increasing Venture Capital funding and Investments in Block chain technology: With the debut of Bitcoin, Block chain technology exploded in popularity, and it is now being used by a variety of financial organizations’ to conduct transactions. In the last two to three years, Block chain technology solutions have exploded in popularity for a variety of commercial applications, including payments, exchanges, smart contracts, documentation, and digital identification. Many startups have entered the market and are creating Block chain-based solutions. Some of the leading VC firms that help invest in Block chain technology solutions include Digital Currency Group, NGC Ventures, Coinbase Ventures, Fenbushi Capital, Pantera Capital, Block chain Capital, Andreessen Horowitz, Node Capital, and IDG Capital. For example, Digital Currency Group, a venture capital firm founded in 2015 that focuses on cryptocurrency, fintech, and Block chain companies, As of August 2021, it had done more than 197 block chain and crypto deals; its most recent investments include Circle and Figure Technologies, both of which build financial transaction technologies. Block chain Technology MarketIntegration Amalgamation of Block chain, IoT, and AI: Block chain technology offers enormous potential in a variety of fields, including banking, cyber security, and the Internet of Things. In numerous application areas, such as smart city projects, smart transportation, vehicular networking, and autonomous vehicles, smart grids, and smart homes, IoT devices are widely used. IoT devices are becoming more prevalent, and numerous businesses are developing new technology use cases based on IoT devices. Several pioneers are using Block chain solutions to construct a decentralized network of IoT devices, eliminating the requirement for a central site to manage device connectivity. Uncertain regulatory and compliance environment: In the Block chain market, regulatory ambiguity is still a problem. At the moment, the lack of rules and the ensuing ambiguities are some of the most significant barriers to Block chain adoption in most verticals. Some governments have outlawed the use of initial coin offerings (ICOs). One of the most difficult aspects of modernizing transaction systems is regulatory acceptance. With the rapid advancement of technology, regulatory agencies must evaluate what gaps exist in current regulations and how they affect total technological applications. Financial institutions from all across the world are collaborating to develop Block chain technology standards.

Block chain Technology Market segment analysis:

Based on type, in 2020, the public cloud segment led the market, accounting for over 60.0 % of global revenue. A multi-tenant system in which processing resources are shared among several clients is referred to as a public cloud Block chain. At the time, various government agencies around the world are combining old systems with cloud technologies. Because it allows enterprises to compete on pricing, the public cloud is in high demand. Based on component, the Infrastructure & Protocols segment held the largest market share of 62% in 2020. The demand for Block chain standards and protocols such as Openchain, Hyperledger, and Ethereum is driving growth in this market. Block chain developers can employ protocols to create scattered and configurable networks for their consumers. As a result, the infrastructure and protocols' benefits are aiding the segment's growth. Over the forecast period, the middleware segment is expected to grow at the fastest rate. In the healthcare industry, middleware technology is typically utilised to automate clinical data authentication. As investments in the healthcare sector increase, the industry is expected to grow. The usage of middleware technology to track laboratory performance data is one of the factors driving the segment's growth. Block chain Technology MarketBased on application, in 2020, the payments segment dominated the market, accounting for about 44.0 % of global revenue. Block chain technology increases the efficiency of payment systems, lowers operating costs, and increases transparency. These advantages of Block chain technology are fueling the segment's growth by increasing its application in payment solutions. At the same time, Block chain eliminates the need for middlemen in payment processing, which is a primary driver of the segment's growth. Over the forecast period, the smart contracts segment is expected to grow at the fastest rate. Smart contracts deployed on a Block chain network have irreversible terms and conditions. Third parties can't tamper with or hack the data in contracts because of Block chain technology. As a result, businesses in a variety of industries are implementing Block chain-based smart contracts to lower the costs of execution, verification, fraud prevention, and arbitration. Block chain Technology Market

Block chain Technology Market Regional Insight:

The North America region held the largest market share of xx% in 2020. Organizations in the region are increasingly adopting Block chain technology, which is propelling the regional market growth. Payment and wallet solutions, smart contracts, and digital identity detection solutions are being implemented in industries like government, retail, and BFSI, necessitating the use of Block chain technologies. In addition, the presence of a high number of players in the region is boosting the regional market growth. Over the forecast period, Asia Pacific is expected to increase significantly. In recent days, governments in nations such as China, Japan, and India have pushed for the deployment of Block chain technology. The governments of these countries are supporting the use of Block chain because of the benefits it provides to a variety of industries, including enhanced transparency and efficiency. For example, the South Korean government pledged a USD 880 million investment in Block chain research projects in 2020. Recent Developments: • On Amazon Managed Block chain, in March 2021, Amazon Web Services (AWS) announced the broad availability of Ethereum, a popular decentralised Block chain technology that formed a peer-to-peer network allowing members to transact without the need for a trusted central authority. Decentralized finance (DeFi), a network of financial applications based on Block chain networks, is one of the most prominent use cases. • Neuromorphic.io became a member of the Intel Neuromorphic Research Community in September 2020. (INRC). Neuromorphic.io was the first Block chain company to be approved into Intel's elite research lab, with the goal of conducting advanced research for the creation of Block chain-based neuromorphics. • Huawei's Block chain-based cloud service, Block chain Service 2.0, was updated in September 2020. (BCS 2.0). The new and improved platform fulfils 50,000 Transactions per Second (TPS) performance criteria, which is significantly higher than Bitcoin and Ethereum. Furthermore, the capacity of BCS 2.0 extension will exceed 1,000 nodes, satisfying the needs of commercial and large-scale Block chain networks. The objective of the report is to present a comprehensive analysis of the Block chain Technology market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Block chain Technology market dynamics, structure by analyzing the market segments and projects the Block chain Technology market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Block chain Technology market make the report investor’s guide.

Block chain Technology Market Scope: Inquire before buying

Block chain Technology Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.67 Bn.
Forecast Period 2021 to 2027 CAGR: 82.2 % Market Size in 2027: US $ 244.6 Bn.
Segments Covered: by Type • Public • Private • Hybrid
by Component • Application & Solution • Infrastructure & Protocols • Middleware
by Application • Digital Identity • Exchanges • Payments • Smart Contracts • Supply Chain Management • Others
by End-User • Financial Services • Government • Healthcare • Media & Entertainment • Retail • Others

Block chain Technology Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Block chain Technology Market Key Players

• IBM • AWS • Microsoft • SAP • Intel • Oracle • Bitfury • Cegeka • Earthport • Guardtime • Digital Asset Holdings • Chain • Huawei • BlockCypher • Symbiont • BigchainDB • Applied Block chain • RecordsKeeper • BlockPoint • Auxesis Group • BTL Group • Block chain Foundry • AlphaPoint • NTT Data • Factom • SpinSys • ConsenSys • Infosys • iXLedger • Stratis Frequently Asked Questions: 1. Which region has the largest share in Block chain Technology Market? Ans: North America region holds the highest share in 2020. 2. What is the growth rate of Block chain Technology Market? Ans: The Block chain Technology Market is growing at a CAGR of 82.2 % during forecasting period 2021-2027. 3. What segments are covered in Block chain Technology market? Ans: Block chain Technology Market is segmented into type, component, application, end-user and region. 4. Who are the key players in Block chain Technology market? Ans: The important key players in the Block chain Technology Market are – IBM, AWS, Microsoft, SAP, Intel, Oracle, Bitfury, Cegeka, Earthport, Guardtime, Digital Asset Holdings, Chain, Huawei, BlockCypher, and Symbiont. 5. What is the study period of this market? Ans: The Block chain Technology Market is studied from 2020 to 2027.
1. Global Block chain Technology Market: Research Methodology 2. Global Block chain Technology Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Block chain Technology Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Block chain Technology Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Block chain Technology Market Segmentation 4.1. Global Block chain Technology Market, by Component (2020-2027) • Application & Solution • Infrastructure & Protocols • Middleware 4.2. Global Block chain Technology Market, by Type (2020-2027) • Public • Private • Hybrid 4.3. Global Block chain Technology Market, by Application(2020-2027) • Digital Identity • Exchanges • Payments • Smart Contracts • Supply Chain Management • Others 4.4. Global Block chain Technology Market, by End-user(2020-2027) • Financial Services • Government • Healthcare • Media & Entertainment • Retail • Others 5. North America Block chain Technology Market(2020-2027) 5.1. North America Block chain Technology Market, by Component (2020-2027) • Application & Solution • Infrastructure & Protocols • Middleware 5.2. North America Block chain Technology Market, by Type (2020-2027) • Public • Private • Hybrid 5.3. North America Block chain Technology Market, by Application(2020-2027) • Digital Identity • Exchanges • Payments • Smart Contracts • Supply Chain Management • Others 5.4. North America Block chain Technology Market, by End-user(2020-2027) • Financial Services • Government • Healthcare • Media & Entertainment • Retail • Others 5.5. North America Block chain Technology Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Block chain Technology Market (2020-2027) 6.1. European Block chain Technology Market, by Component (2020-2027) 6.2. European Block chain Technology Market, by Type (2020-2027) 6.3. European Block chain Technology Market, by Application(2020-2027) 6.4. European Block chain Technology Market, by End-user(2020-2027) 6.5. European Block chain Technology Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Block chain Technology Market (2020-2027) .1. Asia Pacific Block chain Technology Market, by Component (2020-2027) 7.2. Asia Pacific Block chain Technology Market, by Type (2020-2027) 7.3. Asia Pacific Block chain Technology Market, by Application(2020-2027) 7.4. Asia Pacific Block chain Technology Market, by End-user(2020-2027) 7.5. Asia Pacific Block chain Technology Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Block chain Technology Market (2020-2027) 8.1. Middle East and Africa Block chain Technology Market, by Component (2020-2027) 8.2. Middle East and Africa Block chain Technology Market, by Type (2020-2027) 8.3. Middle East and Africa Block chain Technology Market, by Application(2020-2027) 8.4. Middle East and Africa Block chain Technology Market, by End-user(2020-2027) 8.5. Middle East and Africa Block chain Technology Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Block chain Technology Market (2020-2027) 9.1. Latin America Block chain Technology Market, by Component (2020-2027) 9.2. Latin America Block chain Technology Market, by Type (2020-2027) 9.3. Latin America Block chain Technology Market, by Application(2020-2027) 9.4. Latin America Block chain Technology Market, by End-user(2020-2027) 9.5. Latin America Block chain Technology Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. IBM 10.1.1. Financial Overview 10.1.2. Global Presence 10.1.3. Capacity Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2. AWS 10.3. Microsoft 10.4. SAP 10.5. Intel 10.6. Oracle 10.7. Bitfury 10.8. Cegeka 10.9. Earthport 10.10. Guardtime 10.11. Digital Asset Holdings 10.12. Chain 10.13. Huawei 10.14. BlockCypher 10.15. Symbiont 10.16. BigchainDB 10.17. Applied Block chain 10.18. RecordsKeeper 10.19. BlockPoint 10.20. Auxesis Group 10.21. BTL Group 10.22. Block chain Foundry 10.23. AlphaPoint 10.24. NTT Data 10.25. Factom 10.26. SpinSys 10.27. ConsenSys 10.28. Infosys 10.29. iXLedger 10.30. Stratis

About This Report

Report ID 29388
Category Information Technology & Telecommunication
Published Date April 2019
Updated Date Nov 2021
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