By Component, services Segment expected to grow at higher CAGR during the forecast period
The demand for blockchain professional services is rising alongside blockchain adoption. These services include consulting, development & integration, and support & maintenance. Providers like IBM, AWS, and Accenture offer expertise in navigating the complexities of blockchain technology, from strategic planning to custom application development and ongoing maintenance. This comprehensive support empowers businesses to leverage blockchain's potential for innovation and operational efficiency. blockchain professional services can offer ongoing support, including security audits and node management, ensuring a smooth operation and security of an organization’s blockchain implementation. By collaborating with these professionals, businesses can navigate the intricacies of blockchain technology, maximizing its potential for their specific needs.By Organization Size, SMEs segment is expected to grow at higher CAGR during forecast period
SMEs face high barriers to entry and low protection from market forces. The operational costs are also high because of the several intermediaries for trading across regions. This restrains the expansion of implementation in small and medium-sized enterprises (SMEs) with limited funding. In situations like these, blockchain technology can be useful as it enables the enterprises to reduce costs by eliminating these intermediaries. SMEs can also leverage blockchain technology to automate manual or semi-automated activities such as payroll, inventory management, and invoicing in their routine day-to-day operations.Breakdown of primaries
The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C-level Executives - 40% and Managerial and Other Levels - 60%
- By Region: North America - 38%, Asia Pacific - 26%, Europe - 21%, Middle East and Africa - 10%, Latin America - 5%
The study includes an in-depth competitive analysis of the key players in the blockchain market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the blockchain market and forecasts its size by Component (platform and services), by Provider (Application Providers, Infrastructure Providers and Middleware Providers), by Type (Public, Private, Hybrid, Consortium), by Deployment Mode (Cloud, On-Premise, Hybrid), by Organization Size (SMEs, Large enterprise), by Application (Transportation & Logistics, Agriculture & Food, Manufacturing, Energy & Utilities, Healthcare & Life Sciences, Media, Advertising & Entertainment, Banking & Financial Services, Insurance, IT & Telecom, Retail & eCommerce, Government, Real Estate & Construction, Other Applications). The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blockchain market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (Increasing venture capital funding and investments in blockchain technology, growing demand in retail, SCM, and banking applications for secure and transparent transactions, simplification of processes along with transparency, security, and immutability, high adoption of blockchain solutions for payments, smart contracts, and digital identities, and lower operational costs), restraints (Uncertain regulatory and compliance environment and high costs of implementing blockchain technology), opportunities (Increasing government initiatives to boost demand for blockchain platforms and services, amalgamation of blockchain, loT, and Al, rising demand for real-time data analysis, enhanced visibility, and proactive maintenance, and potential of blockchain technology in novel industries), and challenges (Security, privacy, and control of blockchain transactions and limited availability of technical skillsets to implement blockchain technology)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the blockchain market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the blockchain market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the blockchain market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in blockchain market strategies, including AWS (US), Oracle (US), IBM (US), Huawei (China), and Accenture (Ireland).
Table of Contents
Companies Mentioned
- Aws
- IBM
- Oracle
- Huawei
- Accenture
- Tcs
- Alibaba
- Microsoft
- Ovhcloud
- SAP
- Hpe
- Tencent
- Wipro
- Infosys
- Lumen Technologies
- Digitalocean
- Vmware
- Akamai Technologies
- Applied Blockchain
- Consensys
- Contabo
- Leewayhertz
- Vultr
- Cloudsigma
- Mevspace
- Scaleway
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 444 |
Published | July 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 20.1 Billion |
Forecasted Market Value ( USD | $ 248.9 Billion |
Compound Annual Growth Rate | 65.5% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |