Blockchain Distributed Ledger Market Scope, Share, Size - 2031
The blockchain distributed ledger market size is anticipated to expand at a CAGR of 63.6% from 2023 to 2031.The market includes growth prospects owing to the current blockchain distributed ledger market trends and their foreseeable impact during the forecast period. The market is a large and expanding sector. The blockchain distributed ledger market is growing due to factors such as Increasing transparency and independence.
Blockchain Distributed Ledger Market Analysis
The blockchain distributed ledger market has experienced significant growth and transformation in recent years, driven by various factors such as increasing adoption across industries, technological advancements, and growing awareness of the benefits offered by blockchain technology.
Blockchain Distributed Ledger Industry Overview
- Blockchain technology has gained traction across diverse sectors, including finance, supply chain, healthcare, and government, among others. Industries are exploring blockchain's potential to streamline processes, enhance transparency, reduce costs, and mitigate risks. For instance, in finance, blockchain is being utilized for cross-border payments, smart contracts, and trade finance, leading to efficiency gains and improved transaction security. Similarly, supply chain companies are leveraging blockchain for traceability and provenance, ensuring the authenticity and integrity of products throughout the supply chain.
- Advancements in blockchain technology, such as the development of scalable and interoperable blockchain platforms, have fueled market growth. Solutions addressing the scalability and performance issues of early blockchain systems are gaining traction, enabling broader adoption across industries. Additionally, innovations in consensus mechanisms, privacy-enhancing techniques, and interoperability protocols are enhancing the functionality and usability of blockchain networks, making them more appealing to businesses.
Strategic Insights
Blockchain Distributed Ledger Market Drivers and Opportunities
Increasing transparency and independence to drive the blockchain distributed ledger market growth.
- Due to increased data openness and independence between funders, aid organizations, and NGOs, the blockchain distributed ledger market is anticipated to experience promising growth in the years to come.
- The usage of blockchain-distributed ledgers in the retail sector offers several advantages, including transparent product information transmission and receipt and safe consumer data storage for future use. For instance, Walmart Inc., one of the top retail companies in the United States, has been tracking and recording its product information using blockchain distributed ledger technology. Hence, the expansion is fueled by several advancements among the key market participants.
- Furthermore, the cutting-edge blockchain distributed technology protocols would eliminate the need for specific organizational solutions and permit various participants to communicate data transparently within the business. These solutions increase supply chain transparency, reduce environmental crimes, and do other things that encourage the use of blockchain distributed ledger in the future.
Blockchain Distributed Ledger Market Report Segmentation Analysis
- Based on type, the blockchain distributed ledger market is segmented into private blockchain, public blockchain, and hybrid blockchain.
- The private blockchain segment is expected to hold a substantial blockchain distributed ledger market share in 2023.
- Private blockchains are the predominant segment in the market, serving predominantly enterprises and organizations obtaining control, privacy, and customization of their blockchain networks. In a private blockchain, access to the network is restricted to a select group of participants or entities, making it suitable for businesses looking to maintain a high level of confidentiality.
Blockchain Distributed Ledger Market Share Analysis By Geography
The scope of the blockchain distributed ledger market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific (APAC) is experiencing rapid growth and is anticipated to hold a significant blockchain distributed ledger 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 market institutions and non-banking financial institutions (NBFCs) to expand their services and reach previously underserved communities.
Blockchain Distributed Ledger Market Report Scope
The " Blockchain Distributed Ledger Market Analysis" was carried out based on type, end-user, and geography. In terms of type, the market is segmented into private blockchain, public blockchain, and hybrid blockchain. Based on end-user, the market is segmented into government, BFSI, automotive, retail and e-commerce, media and entertainment, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Blockchain Distributed Ledger Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the blockchain distributed ledger market. A few recent key market developments are listed below:
- In December 2023, Blockchain ledger-based payments platform RYVYL partnered with distributed ledger technology firm R3. The collaboration comes in the form of “RYVYL Block,” described by the companies as a “Blockchain-as-a-Service” platform. The platform is “designed to be an innovative and cost-effective solution, simplifying the adoption of blockchain technology for businesses in banking, payments, and high-volume processing environments.”.
[Source: RYVYL, Company Website]
- In February 2024, Abu Dhabi Global Market (ADGM) and the Solana Foundation joined forces to accelerate the development of distributed ledger technology (DLT) in the Middle East. This collaboration aims to leverage ADGM's growing blockchain ecosystem and Solana's thriving developer community.
[Source: Solana Foundation, Company Website]
Blockchain Distributed Ledger Market Report Coverage & Deliverables
The blockchain distributed ledger market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report “Blockchain Distributed Ledger 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
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Frequently Asked Questions
The global blockchain distributed ledger market is expected to grow at a CAGR of 63.6 % during the forecast period 2024 - 2031.
The key players holding majority shares in the global blockchain distributed ledger market are Accenture; Distributed Ledger, Inc.; Deloitte; Digital Asset Holdings, LLC; CoinDesk.
The advent of IoT, big data, and machine learning are impacting the blockchain distributed ledger, which is anticipated to play a significant role in the global blockchain distributed ledger market in the coming years.
The increasing transparency and independence and developed capital optimization are the major factors that propel the global blockchain distributed ledger market growth.
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 Distributed Ledger Market - By Type
1.3.2 Blockchain Distributed Ledger Market - By End User
1.3.3 Blockchain Distributed Ledger Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOCKCHAIN DISTRIBUTED LEDGER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Rest of the World - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. BLOCKCHAIN DISTRIBUTED LEDGER 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 DISTRIBUTED LEDGER MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOCKCHAIN DISTRIBUTED LEDGER - GLOBAL MARKET OVERVIEW
6.2. BLOCKCHAIN DISTRIBUTED LEDGER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BLOCKCHAIN DISTRIBUTED LEDGER MARKET - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRIVATE BLOCKCHAIN
7.3.1. Overview
7.3.2. Private Blockchain Market Forecast and Analysis
7.4. PUBLIC BLOCKCHAIN
7.4.1. Overview
7.4.2. Public Blockchain Market Forecast and Analysis
8. BLOCKCHAIN DISTRIBUTED LEDGER MARKET - REVENUE AND FORECASTS TO 2028 – END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. GOVERNMENT
8.3.1. Overview
8.3.2. Government Market Forecast and Analysis
8.4. BFSI
8.4.1. Overview
8.4.2. BFSI Market Forecast and Analysis
8.5. AUTOMOTIVE
8.5.1. Overview
8.5.2. Automotive Market Forecast and Analysis
8.6. RETAIL AND E-COMMERCE
8.6.1. Overview
8.6.2. Retail and e-commerce Market Forecast and Analysis
8.7. MEDIA AND ENTERTAINMENT
8.7.1. Overview
8.7.2. Media and Entertainment Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BLOCKCHAIN DISTRIBUTED LEDGER MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Blockchain Distributed Ledger Market Overview
9.1.2 North America Blockchain Distributed Ledger Market Forecasts and Analysis
9.1.3 North America Blockchain Distributed Ledger Market Forecasts and Analysis - By Type
9.1.4 North America Blockchain Distributed Ledger Market Forecasts and Analysis - By End User
9.1.5 North America Blockchain Distributed Ledger Market Forecasts and Analysis - By Countries
9.1.5.1 United States Blockchain Distributed Ledger Market
9.1.5.1.1 United States Blockchain Distributed Ledger Market by Type
9.1.5.1.2 United States Blockchain Distributed Ledger Market by End User
9.1.5.2 Canada Blockchain Distributed Ledger Market
9.1.5.2.1 Canada Blockchain Distributed Ledger Market by Type
9.1.5.2.2 Canada Blockchain Distributed Ledger Market by End User
9.1.5.3 Mexico Blockchain Distributed Ledger Market
9.1.5.3.1 Mexico Blockchain Distributed Ledger Market by Type
9.1.5.3.2 Mexico Blockchain Distributed Ledger Market by End User
9.2. EUROPE
9.2.1 Europe Blockchain Distributed Ledger Market Overview
9.2.2 Europe Blockchain Distributed Ledger Market Forecasts and Analysis
9.2.3 Europe Blockchain Distributed Ledger Market Forecasts and Analysis - By Type
9.2.4 Europe Blockchain Distributed Ledger Market Forecasts and Analysis - By End User
9.2.5 Europe Blockchain Distributed Ledger Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Blockchain Distributed Ledger Market
9.2.5.1.1 Germany Blockchain Distributed Ledger Market by Type
9.2.5.1.2 Germany Blockchain Distributed Ledger Market by End User
9.2.5.2 France Blockchain Distributed Ledger Market
9.2.5.2.1 France Blockchain Distributed Ledger Market by Type
9.2.5.2.2 France Blockchain Distributed Ledger Market by End User
9.2.5.3 United Kingdom Blockchain Distributed Ledger Market
9.2.5.3.1 United Kingdom Blockchain Distributed Ledger Market by Type
9.2.5.3.2 United Kingdom Blockchain Distributed Ledger Market by End User
9.2.5.4 Rest of Europe Blockchain Distributed Ledger Market
9.2.5.4.1 Rest of Europe Blockchain Distributed Ledger Market by Type
9.2.5.4.2 Rest of Europe Blockchain Distributed Ledger Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Blockchain Distributed Ledger Market Overview
9.3.2 Asia-Pacific Blockchain Distributed Ledger Market Forecasts and Analysis
9.3.3 Asia-Pacific Blockchain Distributed Ledger Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Blockchain Distributed Ledger Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Blockchain Distributed Ledger Market Forecasts and Analysis - By Countries
9.3.5.1 China Blockchain Distributed Ledger Market
9.3.5.1.1 China Blockchain Distributed Ledger Market by Type
9.3.5.1.2 China Blockchain Distributed Ledger Market by End User
9.3.5.2 Japan Blockchain Distributed Ledger Market
9.3.5.2.1 Japan Blockchain Distributed Ledger Market by Type
9.3.5.2.2 Japan Blockchain Distributed Ledger Market by End User
9.3.5.3 South Korea Blockchain Distributed Ledger Market
9.3.5.3.1 South Korea Blockchain Distributed Ledger Market by Type
9.3.5.3.2 South Korea Blockchain Distributed Ledger Market by End User
9.4. REST OF THE WORLD
9.4.1 Rest of the World Blockchain Distributed Ledger Market Overview
9.4.2 Rest of the World Blockchain Distributed Ledger Market Forecasts and Analysis
9.4.3 Rest of the World Blockchain Distributed Ledger Market Forecasts and Analysis - By Type
9.4.4 Rest of the World Blockchain Distributed Ledger Market Forecasts and Analysis - By End User
9.4.5 Rest of the World Blockchain Distributed Ledger Market Forecasts and Analysis - By Countries
9.4.5.1 MEA Blockchain Distributed Ledger Market
9.4.5.1.1 MEA Blockchain Distributed Ledger Market by Type
9.4.5.1.2 MEA Blockchain Distributed Ledger Market by End User
9.4.5.2 SAM Blockchain Distributed Ledger Market
9.4.5.2.1 SAM Blockchain Distributed Ledger Market by Type
9.4.5.2.2 SAM Blockchain Distributed Ledger Market by End User
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 DISTRIBUTED LEDGER MARKET, KEY COMPANY PROFILES
11.1. ACCENTURE PLC
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. BLOCKCHAIN TECH LTD.
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. CHAIN INC.
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. DELOITTE
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. DIGITAL ASSET HOLDINGS
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. EARTHPORT
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. ERIS INDUSTRIES
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. IBM CORPORATION
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. INTEL CORPORATION
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. MICROSOFT CORPORATION
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
- Accenture
- Distributed Ledger, Inc.
- Deloitte
- Digital Asset Holdings, LLC
- CoinDesk
- Eris Industries
- IBM
- Intel Corporation
- Microsoft
- AlphaPoin
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.