Blockchain Consulting Market Scope and Size by 2031
The blockchain consulting market is anticipated to expand at a CAGR of 30.8% from 2023 to 2031. The market includes growth prospects owing to the current blockchain consulting market trends and their foreseeable impact during the forecast period. The market is a large and expanding sector. This is growing due to factors such as a growing acceptance of blockchain technology. Increased data security in organizations provides lucrative opportunities for the blockchain consulting market growth.
Blockchain Consulting Market Analysis
The blockchain consulting market has witnessed exponential growth over the past decade, with its applications expanding beyond cryptocurrencies to industries such as finance, supply chain, healthcare, and more. Alongside this growth, the demand for blockchain consulting services has surged as organizations seek expertise to navigate the complexities of implementing blockchain solutions.
Blockchain Consulting Industry Overview
- As enterprises increasingly recognize the potential of blockchain to enhance transparency, security, and efficiency in their operations, the demand for consulting services has soared. Consulting firms play a crucial role in helping organizations understand blockchain's applicability, assess use cases, and develop tailored strategies for implementation.
- Regulatory frameworks surrounding blockchain and cryptocurrencies continue to evolve globally. Companies require guidance on navigating these regulations to ensure compliance while leveraging the benefits of blockchain technology. Consulting firms specializing in blockchain offer insights into regulatory requirements and assist in developing compliance strategies.
Strategic Insights
Blockchain Consulting Market Drivers and Opportunities
Growing Acceptance of Blockchain Technology to Drive the Blockchain Consulting Market
- A primary driver of the need for consulting services is the increasing adoption of blockchain technology in a range of sectors, such as supply chain, logistics, banking, and healthcare. Companies want guidance on leveraging blockchain technology to improve security, boost transparency, and streamline operations.
Blockchain Consulting Market Report Segmentation Analysis
- Based on type, the market is segmented into risk management, implementation & integration, technology design & development, and others.
- The implementation & integration segment is expected to hold a substantial blockchain consulting market share in 2023.
Blockchain Consulting Market Share Analysis By Geography
The scope of the blockchain consulting market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant blockchain consulting market share. The region's significant economic development, growing population, and increasing focus on financial inclusion across diverse economies have contributed to this growth. APAC's emerging markets, characterized by a large population and a growing entrepreneurial culture, have presented substantial opportunities for blockchain consulting firms.
Blockchain Consulting Market Report Scope
The " Blockchain Consulting Market Analysis" was carried out based on type, end-user, and geography. In terms of type, the market is segmented into risk management, implementation & integration, technology design & development, and others. Based on end-users, the market is segmented into banking & financial services, it & technology, healthcare, government, and other industries. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Blockchain Consulting Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the market. A few recent key market developments are listed below:
- In March 2024, BIGG Digital Assets Inc., one of the leading innovators in the digital assets space and owner of Netcoins, and Blockchain Intelligence Group and TerraZero announced that Blockchain Intelligence Group (“BIG”) and FRNT Financial Inc. partnered to expand the sales efforts of BIG’s compliance and investigative tools: QLUE and BitRank.The partnership aims to generate revenue by increasing subscriptions and sales of QLUE and BitRank across a more diverse group of business sectors via FRNT’s network and advisory services.
[Source: BIGG Digital Assets Inc., company website]
- In March 2023, Switzerland-based Inacta Group selected Roland Berger as its partner for the development of innovative projects in the Web3 and Blockchain space. While most of the work is currently being delivered in Europe, the international partnership is led out of Roland Berger’s Middle East practice.
[Source: Switzerland-based Inacta Group, company website]
Blockchain Consulting Market Report Coverage & Deliverables
The blockchain consulting market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report on “Blockchain Consulting Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
- Detailed company profiles.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The global blockchain consulting market d is expected to grow at a CAGR of 30.8% during the forecast period 2024 - 2031.
Growing acceptance of blockchain technology and increased data security in organizations are the major factors that propel the global blockchain consulting market growth.
The advent of IoT, big data, and machine learning are impacting blockchain consulting, which is anticipated to play a significant role in the global blockchain consulting market in the coming years.
The key players holding majority shares in the global blockchain consulting market are Deloitte; EY; Accenture; LeewayHertz; Codezeros Technology Company.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Blockchain Consulting Market - By Product
1.3.2 Blockchain Consulting Market - By Application
1.3.3 Blockchain Consulting Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOCKCHAIN CONSULTING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. BLOCKCHAIN CONSULTING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BLOCKCHAIN CONSULTING MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOCKCHAIN CONSULTING - GLOBAL MARKET OVERVIEW
6.2. BLOCKCHAIN CONSULTING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BLOCKCHAIN CONSULTING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CONSULTING
7.3.1. Overview
7.3.2. Consulting Market Forecast and Analysis
7.4. BLOCKCHAIN
7.4.1. Overview
7.4.2. Blockchain Market Forecast and Analysis
8. BLOCKCHAIN CONSULTING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISE
8.3.1. Overview
8.3.2. Large enterprise Market Forecast and Analysis
8.4. SMALL AND MEDIUM ENTERPRISE
8.4.1. Overview
8.4.2. Small and Medium Enterprise Market Forecast and Analysis
9. BLOCKCHAIN CONSULTING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Blockchain Consulting Market Overview
9.1.2 North America Blockchain Consulting Market Forecasts and Analysis
9.1.3 North America Blockchain Consulting Market Forecasts and Analysis - By Product
9.1.4 North America Blockchain Consulting Market Forecasts and Analysis - By Application
9.1.5 North America Blockchain Consulting Market Forecasts and Analysis - By Countries
9.1.5.1 United States Blockchain Consulting Market
9.1.5.1.1 United States Blockchain Consulting Market by Product
9.1.5.1.2 United States Blockchain Consulting Market by Application
9.1.5.2 Canada Blockchain Consulting Market
9.1.5.2.1 Canada Blockchain Consulting Market by Product
9.1.5.2.2 Canada Blockchain Consulting Market by Application
9.1.5.3 Mexico Blockchain Consulting Market
9.1.5.3.1 Mexico Blockchain Consulting Market by Product
9.1.5.3.2 Mexico Blockchain Consulting Market by Application
9.2. EUROPE
9.2.1 Europe Blockchain Consulting Market Overview
9.2.2 Europe Blockchain Consulting Market Forecasts and Analysis
9.2.3 Europe Blockchain Consulting Market Forecasts and Analysis - By Product
9.2.4 Europe Blockchain Consulting Market Forecasts and Analysis - By Application
9.2.5 Europe Blockchain Consulting Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Blockchain Consulting Market
9.2.5.1.1 Germany Blockchain Consulting Market by Product
9.2.5.1.2 Germany Blockchain Consulting Market by Application
9.2.5.2 France Blockchain Consulting Market
9.2.5.2.1 France Blockchain Consulting Market by Product
9.2.5.2.2 France Blockchain Consulting Market by Application
9.2.5.3 Italy Blockchain Consulting Market
9.2.5.3.1 Italy Blockchain Consulting Market by Product
9.2.5.3.2 Italy Blockchain Consulting Market by Application
9.2.5.4 United Kingdom Blockchain Consulting Market
9.2.5.4.1 United Kingdom Blockchain Consulting Market by Product
9.2.5.4.2 United Kingdom Blockchain Consulting Market by Application
9.2.5.5 Rest of Europe Blockchain Consulting Market
9.2.5.5.1 Rest of Europe Blockchain Consulting Market by Product
9.2.5.5.2 Rest of Europe Blockchain Consulting Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Blockchain Consulting Market Overview
9.3.2 Asia-Pacific Blockchain Consulting Market Forecasts and Analysis
9.3.3 Asia-Pacific Blockchain Consulting Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Blockchain Consulting Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Blockchain Consulting Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Blockchain Consulting Market
9.3.5.1.1 Australia Blockchain Consulting Market by Product
9.3.5.1.2 Australia Blockchain Consulting Market by Application
9.3.5.2 China Blockchain Consulting Market
9.3.5.2.1 China Blockchain Consulting Market by Product
9.3.5.2.2 China Blockchain Consulting Market by Application
9.3.5.3 India Blockchain Consulting Market
9.3.5.3.1 India Blockchain Consulting Market by Product
9.3.5.3.2 India Blockchain Consulting Market by Application
9.3.5.4 Japan Blockchain Consulting Market
9.3.5.4.1 Japan Blockchain Consulting Market by Product
9.3.5.4.2 Japan Blockchain Consulting Market by Application
9.3.5.5 South Korea Blockchain Consulting Market
9.3.5.5.1 South Korea Blockchain Consulting Market by Product
9.3.5.5.2 South Korea Blockchain Consulting Market by Application
9.3.5.6 Rest of Asia-Pacific Blockchain Consulting Market
9.3.5.6.1 Rest of Asia-Pacific Blockchain Consulting Market by Product
9.3.5.6.2 Rest of Asia-Pacific Blockchain Consulting Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Blockchain Consulting Market Overview
9.4.2 Middle East and Africa Blockchain Consulting Market Forecasts and Analysis
9.4.3 Middle East and Africa Blockchain Consulting Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Blockchain Consulting Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Blockchain Consulting Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Blockchain Consulting Market
9.4.5.1.1 South Africa Blockchain Consulting Market by Product
9.4.5.1.2 South Africa Blockchain Consulting Market by Application
9.4.5.2 Saudi Arabia Blockchain Consulting Market
9.4.5.2.1 Saudi Arabia Blockchain Consulting Market by Product
9.4.5.2.2 Saudi Arabia Blockchain Consulting Market by Application
9.4.5.3 U.A.E Blockchain Consulting Market
9.4.5.3.1 U.A.E Blockchain Consulting Market by Product
9.4.5.3.2 U.A.E Blockchain Consulting Market by Application
9.4.5.4 Rest of Middle East and Africa Blockchain Consulting Market
9.4.5.4.1 Rest of Middle East and Africa Blockchain Consulting Market by Product
9.4.5.4.2 Rest of Middle East and Africa Blockchain Consulting Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Blockchain Consulting Market Overview
9.5.2 South and Central America Blockchain Consulting Market Forecasts and Analysis
9.5.3 South and Central America Blockchain Consulting Market Forecasts and Analysis - By Product
9.5.4 South and Central America Blockchain Consulting Market Forecasts and Analysis - By Application
9.5.5 South and Central America Blockchain Consulting Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Blockchain Consulting Market
9.5.5.1.1 Brazil Blockchain Consulting Market by Product
9.5.5.1.2 Brazil Blockchain Consulting Market by Application
9.5.5.2 Argentina Blockchain Consulting Market
9.5.5.2.1 Argentina Blockchain Consulting Market by Product
9.5.5.2.2 Argentina Blockchain Consulting Market by Application
9.5.5.3 Rest of South and Central America Blockchain Consulting Market
9.5.5.3.1 Rest of South and Central America Blockchain Consulting Market by Product
9.5.5.3.2 Rest of South and Central America Blockchain Consulting Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BLOCKCHAIN CONSULTING MARKET, KEY COMPANY PROFILES
11.1. ABES LAB
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ARCTOUCH
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. APPLIED BLOCKCHAIN LTD
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. 101 BLOCKCHAINS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. BLOCKCHAIN MIND
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CODEZEROS TECHNOLOGY COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. CRUNCHBASE INC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. EY GLOBAL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. LEEWAYHERTZ
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. DELOITTE TOUCHE TOHMATSU LIMITED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
- Deloitte
- EY
- Accenture
- LeewayHertz
- Codezeros Technology Company
- Omni3
- BlockchainMind
- 101 Blockchains
- Rethink Ledgers
- Altoros
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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