Blockchain Technology Market Report, by Type (Public, Private, and Consortium), by Application (Asset Management, Insurance, Payment, Supply Chain, and Others), by End-use Industry (BFSI, Information Technology, Healthcare, Education, Telecom, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Trends, and Forecast 2019 - 2027

  • Published On : Jul 2019 |
  • Pages : 175 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Blockchain Technology Market- Insights

The adoption of blockchain technology provides solution for banks while eliminating intermediaries and aiding in real-time transition. Blockchain will reduce the cost of manual work and lead to enhanced customer services and satisfaction. These features will led to growth of the blockchain technology market. For instance, on December 30, 2015, NASDAQ announced that it made its first ever share trade using blockchain technology. NASDAQ used its proprietary Linq platform (developed in collaboration with Chain.com and global design firm IDEO) to sell shares.

In IT industry, there is significant increase in the adoption of IoT devices, which require security in daily transaction. Blockchain technology can be used in tracking billions of connected devices, enabling processing of transitions and coordination between devices.  

Moreover, healthcare industry is facing issues related to sharing of patient data among providers and organizations. Patients may relocate to different cities, change health plans, switch doctors for treatments, and most of their detailed health records remain with their previous healthcare provider. Adoption of blockchain provides best solution in clinical research, where patient’s critical data is stored in secured manner and can be accessed from any point, as blockchain provides high degree of transparency. In blockchain, patient’s data is publically writeable by anyone.

Furthermore, in education sector, blockchain technology is increasingly gaining traction for storing academic credentials of students so that it must be universally acceptable and verified. The adoption of these technologies enable education institutions to streamline and effectively manage their verification procedures and also, it helps to reduce fraudulent claims of unearned educational credits. For instance, in June 2016, the Learning Machine collaborated with MIT Media Lab launched Blockcerts toolset, which is an open infrastructure for creating, issuing, viewing, and verifying blockchain-based certificates. Therefore, implementation of blockchain technology in these sectors have led to growth of the blockchain technology market.

Figure 1. Global Blockchain Technology Market Growth (%), by Region, 2019-2027Blockchain Technology  | Coherent Market Insights

Source: Coherent Market Insights, 2018-19

Asia Pacific blockchain technology market is projected to grow with a CAGR of 67.8% over the forecast period, owing to digitization of currency, safe online payment gateways, and increasing online transactions. Also, key players in Asia Pacific region are launching blockchain technology platforms. For instance, in November 2017, Infosys Finacle, part of Edge Verve Systems, a product subsidiary of Infosys, announced the global availability of Finacle Trade Connect, a blockchain-based trade finance solution for banks. This solution is helpful in digitizing trade finance business process. Moreover, companies who are adopting blockchain technology in this region are also partnering with other companies for growth of this market.  For instance, in May 2018, Infosys announced its partnership with 7 leading banks, namely Axis bank, ICICI bank, IndusInd bank, Kotak Mahindra bank, RBL bank, South Indian bank, and Yes bank, in order to run a successful pilot project of Finacle Trade Connect, a block chain technology-based solution developed specifically to address trade finance process requirements of banks.

Figure 2. Global Blockchain Technology Market Share (%), By Type, 2018

Blockchain Technology  | Coherent Market Insights

Source: Coherent Market Insights, 2018-19

Among type, consortium segment is the fastest growing segment in the global market and is expected to exhibit a CAGR of around 69.0% during the forecast period. Consortium blockchain, also known as federated blockchain, operates under the leadership of groups. This kind of blockchain has over one in charge, where representative individual or group of companies come together and make decision for the best output of whole network. These groups are called as consortiums or a federation. By using consortium blockchain, multiple companies define common communication standards and make them executable by using blockchain technology. Various features of consortium blockchain technology such as security, privacy, compliance, and efficient performance have led to increase in use of this technology, which drives growth of this market. For instance, in June 2019, Microsoft and Salesforce, enterprise software companies implementing blockchain technology, joined Hyperledger blockchain consortium, multi-project open source collaborative company hosted by The Linux Foundation, created for development of blockchain technology, which will help build applications using this technology.

Some of the key players operating in the global blockchain technology market include Accenture Plc, Amazon Web Services, Inc., Advanced Micro Devices, Inc. IBM Corporation, Infosys Ltd., Intel Corporation, Microsoft Corporation, NVIDIA Corporation, SAMSUNG, SAP SE, Siemens AG, Xilinx, Inc., and others.

 

Blockchain technology is a system that provides a robust environment for secure data sharing in real-time. It is a type of distributed ledger system that provides enhanced security to the real-time digital economic process. Blockchain comprises blocks of digitally recorded data, which creates a distributed ledger. No one can remove anything from a blockchain ledger. In this way, the blockchain ledger is built iteratively so that it contains a private and verifiable record. The blockchain technology market is expected to have a positive impact, owing to its transaction transparency that requires less cost and less time consumption.

Market Dynamics

Blockchain technology is being increasingly used in the BFSI segment for financial transactions and cross-border payments. Online payments have gained huge attraction.  Card-based payment methods using credit and debit cards have become dominant. Blockchain provides increased speed of transaction processing and greater efficiency in real-time processing. It also helps to secure payments, maintain customer identities, and settle cross-border payments. As this technology is decentralized, various financial technology (FinTech) companies are also gaining opportunity to invest a part of their total investment in the blockchain.

Due to rapid growth of manufacturing industries, management of supply chain activities have become more complex and demand for data transparency and security have increased. Therefore, companies are focusing on blockchain enabled supply chain technology for faster and efficient supply chain, data transparency for accurate and tamper evident database, and to streamline the business process with the use of blockchain technology. This will drive growth of the global blockchain technology market over the forecast period. For instance, Wal-Mart Stores and Visa are using blockchain to streamline supply chain, speed up payments, and store records.

However, as the blockchain technology is in experimental phase in emerging economies, people are hesitant to adopt this technology due to less awareness and stringent government rules on cryptocurrency transactions, which is limiting growth of global blockchain technology market.

Key features of the study:

  • This report provides in-depth analysis of global blockchain technology market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2019–2027)
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global blockchain market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, strategies, and future plans
  • Companies covered as part of this study include Accenture Plc, Amazon Web Services, Inc., Advanced Micro Devices, Inc., IBM Corporation, Infosys Ltd, Intel Corporation., Microsoft Corporation, Panasonic Corporation, NVIDIA Corporation, SAMSUNG, SAP SE, Siemens AG, Xilinx, Inc., and others
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, product upgrades, market expansion, and marketing tactics
  • The global blockchain technology market report caters to various stakeholders in this industry including investors, solution providers, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global blockchain technology market.

Detailed Segmentation:

  • Global Blockchain Technology Market, By Type:
    • Public
    • Private
    • Consortium
  • Global Blockchain Technology Market, By Application:
    • Asset Management
    • Insurance
    • Payment
    • Supply Chain
    • Others
  • Global Blockchain Technology Market, By End-use Industry:
    • Banking, Financial Services and Insurance
    • Information Technology
    • Healthcare
    • Education
    • Telecom
    • Others
  • Global Blockchain Technology Market, By Region:
    • North America
      • By Type:
        • Public
        • Private
        • Consortium
      • By Application:
        • Asset Management
        • Insurance
        • Payment
        • Supply Chain
        • Others
      • By End-use Industry
        • Banking, Financial Services and Insurance
        • Information Technology
        • Healthcare
        • Education
        • Telecom
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type:
        • Public
        • Private
        • Consortium
      • By Application:
        • Asset Management
        • Insurance
        • Payment
        • Supply Chain
        • Others
      • By End-use Industry:
        • Banking, Financial Services and Insurance
        • Information Technology
        • Healthcare
        • Education
        • Telecom
        • Others
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type:
        • Public
        • Private
        • Consortium
      • By Application:
        • Asset Management
        • Insurance
        • Payment
        • Supply Chain
        • Others
      • By End-use Industry:
        • Banking, Financial Services and Insurance
        • Information Technology
        • Healthcare
        • Education
        • Telecom
        • Others
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Type:
        • Public
        • Private
        • Consortium
      • By Application:
        • Asset Management
        • Insurance
        • Payment
        • Supply Chain
        • Others
      • By End-use Industry:
        • Banking, Financial Services and Insurance
        • Information Technology
        • Healthcare
        • Education
        • Telecom
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East and Africa
      • By Type:
        • Public
        • Private
        • Consortium
      • By Application:
        • Asset Management
        • Insurance
        • Payment
        • Supply Chain
        • Others
      • By End-use Industry:
        • Banking, Financial Services and Insurance
        • Information Technology
        • Healthcare
        • Education
        • Telecom
        • Others
      • By Country:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • Accenture Plc *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Amazon Web Services, Inc.
    • Advanced Micro Devices, Inc.
    • IBM Corporation
    • Infosys Ltd
    • Intel Corporation.
    • Microsoft Corporation
    • NVIDIA Corporation
    • SAMSUNG
    • SAP SE
    • Siemens AG
    • Xilinx, Inc.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Top Market Findings
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Key Trends
    • Collaborations
    • New Product Approvals/Launch
    • Porter’s Five Force Analysis
    • Industry Trends
  4. Global Blockchain Technology Market, By Type, 2017 - 2027 (US$ Million)
    • Introduction
    • Market Share Analysis, 2018 and 2027(%)
    • Segment Trends
      • Public
        • Introduction
        • Market Size and Forecast, 2017-2027 (US$ Million)
      • Private
        • Introduction
        • Market Size and Forecast, 2017-2027 (US$ Million)
      • Consortium
        • Introduction
        • Market Size and Forecast, 2017-2027(US$ Million)
  5. Global Blockchain Technology Market, By Application, 2017 - 2027 (US$ Million)
    • Introduction
    • Market Share Analysis, 2018 and 2027 (%)
    • Segment Trends
      • Asset Management
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Insurance
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Payment
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      •  Supply Chain
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Others
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
  6. Global Blockchain Technology Market, By End-use Industry, 2017-2027  (US$ Million)
    • Introduction
    • Market Share Analysis, 2018 and 2027 (%)
    • Segment Trends
      • Banking, Financial Services and Insurance
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Information Technology
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Healthcare
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Education
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Telecom
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
      • Others
        • Introduction
        • Market Size and Forecast, 2017–2027, (US$ Million)
  7. Global Blockchain Technology Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2027 (%)
    • North America
      • Introduction
      • Market Size and Forecast, By Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Country Trends
        • U.S.
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Canada
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
    • Europe
      • Introduction
      • Market Size and Forecast, By Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Country Trends
          • Germany
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
          • France
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
          • U.K.
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
          • Spain
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
          • Italy
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
          • Rest of Europe
            • Introduction
            • Market Size and Forecast, 2017 - 2027, (US$ Million)
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, By Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Country Trends
        • China
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • India
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Japan
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • ASEAN
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Australia
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • South Korea
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Rest of Asia Pacific
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
    • Latin America
      • Introduction
      • Market Size and Forecast, By Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Country Trends
        • Brazil
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Mexico
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Argentina
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Rest of Latin America
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
    • Middle East and Africa
      • Introduction
      • Market Size and Forecast, By Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Country Trends
        • GCC Countries
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • South Africa
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
        • Rest of Middle East and Africa
          • Introduction
          • Market Size and Forecast, 2017 - 2027, (US$ Million)
  8. Competitive Landscape
    • Competitive Positioning of Players, 2018
    • Company Profiles
      • Accenture Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Amazon Web Services, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Advanced Micro Devices, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IBM Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Infosys Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Intel Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Microsoft Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NVIDIA Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SAMSUNG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SAP SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Siemens AG.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xilinx, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on “Global Blockchain Technology Market - Global forecast to 2027.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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