Blockchain Technology Market Scope And Analysis

  • Report Code : TIPTE100002172
  • Category : Banking, Financial Services, and Insurance
  • Status : Published
  • No. of Pages : 190
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Blockchain Market Analysis and Scope (2022 to 2028)

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Blockchain Market Report Blockchain Market Size and Share Blockchain Market Scope and Analysis

Blockchain Market Report Scope

Report Attribute Details
Market size in 2021 US$ 4.94 Billion
Market Size by 2028 US$ 228 Billion
Global CAGR (2021 - 2028) 72.9%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Component
  • Solutions and Services
By Application
  • Payments
  • Exchanges
  • Smart Contracts
  • Documentation
  • Digital Identity
  • Governance
  • Risk and Compliance
By Industry Vertical
  • BFSI
  • Retail
  • Government
  • Transportation and Logistics
  • Healthcare
  • Automotive
  • Media and Entertainment
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • IBM Corporation
  • Microsoft Corporation
  • Accenture
  • Amazon
  • SAP SE
  • Bitfury Group Limited
  • Ripple Labs Inc
  • Hewlett Packard Enterprise Development LP HPE
  • Oracle Corporation

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    Application Segment Insights

    The global blockchain market is segmented into payments, exchanges, smart contracts, documentation, digital identity, governance, risk & compliance, and others. The payment segment led the blockchain market. The others segment includes digital voting, ride-sharing, advertising, and many others. Blockchain reduces cost, increases security, increases transparency, and decreases transaction time while reducing the need for a trusted third party. Blockchain handles a varying set of rules and configurations. An application such as smart contracts, can greatly improve process efficiency, reliability, transparency, and reduce risk. The prospective uses of blockchain are varied and wide, and the technology is becoming more prevailing.

    Industry Vertical Type Segment Insights

    Blockchain is a distributed ledger capable of automatically verifying and recording a high volume of digital transactions, regardless of location. As startups use blockchain technology to drive greater transparency across the digital information network, they are increasing the awareness of blockchain technology in various sectors. Based on industry vertical, the global Blockchain market is categorized into BFSI, retail, government, transportation & logistics, healthcare, automotive, media & entertainment, and others. The others segment includes manufacturing, real estate, power and utilities, telecom, and sports.

     

    The Blockchain market players focus on new product innovations and developments by integrating advanced technologies and features to compete. For instance, in 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.

    Blockchain Market – Company Profiles

    • IBM Corporation
    • Microsoft Corporation
    • Accenture
    • Amazon
    • SAP Se
    • Hewlett Packard Enterprise Development LP (HPE)
    • Oracle Corporation
    • Intel Corporation
    • Ripple
    • Bitfury Group