IBM Corporation, Accenture, Amazon, Oracle Corporation, and Intel Corporation are the five key market players operating in the global Blockchain market. Microsoft Corporation, SAP Se, Hewlett Packard Enterprise Development LP (HPE), Ripple, and Bitfury Group are few other notable players that are profiled in this market study. In addition to these players, multiple other leading global, regional & local market players, emerging companies, market disruptors and niche market players were studied and analyzed during the course of this study to gather a holistic view of the market. The global Blockchain market includes companies operating in a wide range of product portfolio. Each category has some well-established key players and owing to different markets in which they operate and compete it is not feasible to determine key five players in the overall Blockchain market. However, based on parameters such as overall revenue, brand image, current Blockchain product portfolio, geographic reach, customer base, technology adoption & integration, new product/service/feature launches, partnerships, mergers & acquisitions, and other market-related activities, we have listed above five key players operating at a global level.
IBM Corporation, Accenture, Amazon, Oracle Corporation, Intel Corporation – PROMINENT MARKET PARTICIPANTS IN BLOCKCHAIN MARKET
The Blockchain market is segmented based on component, application, and industry vertical. Based on component, the blockchain market is segmented into solutions and services. Based on application, the Blockchain market is segmented into payments, exchanges, smart contracts, documentation, digital identity, governance, risk & compliance, and others. The others segment includes digital voting, ride-sharing, advertising, and others. Based on industry vertical, the Blockchain market is further segmented into BFSI, retail, government, transportation and logistics, healthcare, automotive, media & entertainment, and others.
Blockchain can be classified into three major categories – public blockchains, federated blockchains or consortium blockchains, and private blockchains. Some examples of public blockchains are Bitcoin, Ethereum, Monero, Dash, Litecoin, and Dogecoin, among others. Federated blockchains or consortium blockchains include R3 (Banks), EWF (Energy), B3i (Insurance), Corda, and others. Private blockchains’ examples include MONAX and Multichain. Private Blockchains allow companies to solve efficiency, security, and fraud problems in traditional financial institutions, but only at an incremental level. Due to this, private blockchains presently are not expected to revolutionize the traditional banking and financial system. However, public blockchains hold great potential to reshape the existing financial system by replacing most functions of financial institutions with software.
Most of the market initiatives were observed in North America region, which has a high potential for Blockchain providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2019 | Carrefour and Nestle Partnered with IBM to use blockchain technology in food categories. The partnership would enable a rapid expansion of a blockchain-based network that brings more transparency to the global food supply chain of retailers, growers, wholesalers, processors, distributors, and manufacturers ambitions. Summit will partner with Turn/River Capital, which made its initial investment in Invicti in 2017 both these company are forecasted to be a key stakeholder to build strong strategic alliance. | North America |
| 2019 | IBM blockchain solution used by Volkswagen Group to track minerals supply chain. The solution would help Volkswagen Group meet the reliable sourcing standards plan by the Organization for Economic Cooperation and Development by offering a permanent record of mineral movements to help the compliance process. | North America |
