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Blockchain Technology - Global Market Trajectory & Analytics

  • ID: 4070981
  • Report
  • February 2022
  • Region: Global
  • 579 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AlphaPoint Corporation
  • Blockchain Tech Ltd
  • Bloq
  • Coinfirm Ltd.
  • IBM
  • Microsoft Corporation

Global Blockchain Technology Market to Reach $19.9 Billion by 2026


The technology at the heart of bitcoin, blockchain technology is today gaining significant importance. Blockchain is a permanent database that keeps record of every transaction that is executed. The technology has become an integral part of business-to-business and business-to-consumer commerce, products and legal processes. In the banking, financial services and insurance sector, growth is expected to benefit from the growing adoption of blockchain in applications such as digital identities, payments, exchanges and documentation. Financial institutions have been spearheading innovations in the Blockchain technology space, with the sector already witness to successful implementations of use cases such as Nasdaq`s private market trading platform and Ripple`s cross border payment platform. Blockchain holds significant potential for prescription management, medical data, online shopping and other areas. The technology is likely to help companies in controlling supply chains, achieving traceability of products and maintaining auditable record of goods movement. In the post COVID-19 period, growth in the market will be led by next-generation blockchain innovations and the resulting development of new applications areas. Blockchain-based identity management systems are likely to emerge as one of the most notable innovations in the next-generation Blockchain space.

Amid the COVID-19 crisis, the global market for Blockchain Technology estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$19.9 Billion by 2026, growing at a CAGR of 43% over the analysis period. Public, one of the segments analyzed in the report, is projected to grow at a 44.8% CAGR to reach US$21.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Private segment is readjusted to a revised 40.1% CAGR for the next 7-year period. This segment currently accounts for a 24.7% share of the global Blockchain Technology market.

The U.S. Market is Estimated at $880.9 Million in 2021, While China is Forecast to Reach $2.1 Billion by 2026


The Blockchain Technology market in the U.S. is estimated at US$880.9 Million in the year 2021. The country currently accounts for a 31.64% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$2.1 Billion in the year 2026 trailing a CAGR of 50.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 37.8% and 39.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 41.6% CAGR while Rest of European market (as defined in the study) will reach US$3.4 Billion by the end of the analysis period. The regional market is expected to be fueled by increasing investments in the BFSI sector. The blockchain technology is anticipated to receive a major stimulus from increasing focus of various countries in Asia-Pacific to improve existing payment techniques and maintain records associated with regulatory compliance.

Hybrid Segment to Reach $1.8 Billion by 2026


In the global Hybrid segment, USA, Canada, Japan, China and Europe will drive the 36.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$212.6 Million in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$258.9 Million by the year 2026.

Select Competitors (Total 251 Featured) -

  • AlphaPoint Corporation
  • Blockchain Global
  • Blockchain Tech Ltd
  • BlockCypher, Inc.
  • Bloq
  • Chain, Inc.
  • Coinfirm Ltd.
  • Consensus Systems Technologies Corporation
  • Credits
  • Digital Asset Holdings, LLC
  • IBM
  • LUKKA, INC.
  • Microsoft Corporation
  • Monax Industries
  • Nasdaq
  • Ping Identity Corporation
  • The Bitfury Group
  • The Linux Foundation
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AlphaPoint Corporation
  • Blockchain Tech Ltd
  • Bloq
  • Coinfirm Ltd.
  • IBM
  • Microsoft Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Blockchain Technology - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Born Out of Bitcoin, Blockchain Technology Emerges to Disrupt the Digital Economy
  • The History of Bitcoin, Its Evolution, Its Short-lived Ascend To Boom & Its Downfall
  • The Insider Truth About Bitcoins Shows Why This Cryptocurrency is Dying: Bitcoins in Circulation in the Global Market (In 000s) for the Year 2020
  • Blockchain Technology Rises from the Ashes of Bitcoin
  • So What Are the Many Benefits of Blockchain That Double Up as Drivers of Adoption?
  • How the COVID-19 Pandemic Destroyed the Global Economy
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Spending On Blockchain Technology Slumps by -6.9% in Fiscal Year 2020
  • A Quick Post-COVID-19 Recovery Expected in 2021
  • Despite the Current Slack in Demand, Blockchain Technology Joins in the Fight Against COVID-19
  • Recent Market Activity
  • Innovations
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • A Review of Market Outlook Expected In the Post COVID-19 Period
  • COVID-19 Triggers Unprecedented Disruptions in the Supply Chain & Accelerates the Urgency to Rethink Supply Chain Management
  • Unprecedented Losses Sustained in the Supply Chain Bodes Well for Integration of Emerging Technologies like Blockchain to Enhance Resilience & Reliability: Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020
  • Here’s How The Role of Blockchain Becomes Bigger in Post COVID-19 Management of Supply Chains
  • COVID-19 to Emerges as the Push Factor for Adoption of Blockchain in Healthcare
  • Here’s How the Pandemic Is Accelerating Digitalization of Healthcare
  • Accelerated by COVID-19, the Digitalization of Healthcare System Offers Robust Opportunities for Blockchain Deployment: Global Digital Health Market (In US$ Million) for Years 2020, 2022, 2024, 2027
  • Rise of Telemedicine During COVID-19 Times Brings Blockchain Into the Spotlight to Protect Telemedicine Programs
  • As Telemedicine Explodes Into a Major Channel for Virtual Healthcare Delivery So Does Blockchain’s Role in Advancing Secure Data Sharing: Telehealth Visits in the U.S (In Million) for the Year 2020
  • Other Ways in Which Blockchain Can Revolutionize the Healthcare System in the Post COVID-19 Period
  • Storming Into the Spotlight Is the Use of Blockchain in Fighting Counterfeiting of Drugs & Managing Clinical Trials
  • Rising Incidence of Counterfeiting in the Pharmaceutical Industry Pushes Up the Urgency to Leverage the Security Benefits Promised by Blockchain: Global Number of Pharmaceutical Counterfeiting Incidents for Years 2000, 2005, 2010, 2015, 2019 & 2022
  • Post COVID-19 Focus on Sustainability to Drive Blockchain Adoption in Environmental Governance
  • Here’s Why the Environment & Sustainability Will be Top Priorities After the Pandemic
  • How Blockchain Can Help Address the Sustainability Challenge?
  • Inefficiencies of Public Sector & Government Agencies Can Now Finally Be Addressed Using Blockchain
  • Blockchain-Enabled E-Voting Could Very Well be the Future of Organizational & National Voting
  • A Growing Market for Smart Agriculture to Boost Adoption of Blockchain
  • Smart Agriculture Becomes a US$12 Billion Global Market
  • Smart Agriculture Opens a Wealth of Opportunity for Blockchain Technology: Global Smart Agriculture Market (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
  • Blockchain’s Role in Smart Agriculture Demystified
  • Growing IoT Ecosystems Systems to Power Blockchain Implementations
  • The Missing Link Between Security and IoT is Blockchain: Global M2M/IoT Connections (In Billion) for Years 2019, 2021, 2023
  • Smart Contracts Are Among the Most Promising Use Cases of Distributed Ledger Technology
  • Financial Services Sector: The Most Lucrative Application Area for Blockchain
  • Blockchain to Improve Transparency, Security, Immutability & Accessibility of Financial Systems & Processes
  • Blockchain Can Help in Financial Inclusion of the Unbanked
  • Global Push for Financial Inclusion Amidst the Still High Numbers of Unbanked People to Benefit Deployment of Blockchain to Remedy the Situation: Unbanked Population as a % of Total Population by Region for the Year 2020
  • Online Banking Fraud Could Become History With Blockchain
  • Mind Bending Losses Accruing Due to Online Banking Fraud Pushes Up the Urgency to Explore the Unrivalled Security Benefits Offered by Blockchain: Cumulative Global Online Fraud (In US$ Billion) Between 2020 to 2024 by Region
  • Blockchain-based Payments Processing: An Active Area of Interest for Banks
  • Huge Potential for Blockchain Technology in the Pharmaceutical Industry
  • Blockchain & Artificial Intelligence (AI): A Powerful Combination
  • How the Travel Industry Is Benefiting from Blockchain & AI Combo
  • A Promising Growth Outlook for Blockchain Technology in the Energy Sector
  • Blockchain Powered Solutions to Streamline Processes in Logistics, Trucking and Commercial Transportation Industry
  • Promising Future for Blockchain in Media, Advertising & Entertainment Market

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

REST OF EUROPE

ASIA-PACIFIC

  • Blockchain Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 251
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • AlphaPoint Corporation
  • Blockchain Global
  • Blockchain Tech Ltd
  • BlockCypher, Inc.
  • Bloq
  • Chain, Inc.
  • Coinfirm Ltd.
  • Consensus Systems Technologies Corporation
  • Credits
  • Digital Asset Holdings, LLC
  • IBM
  • LUKKA, INC.
  • Microsoft Corporation
  • Monax Industries
  • Nasdaq
  • Ping Identity Corporation
  • The Bitfury Group
  • The Linux Foundation
Note: Product cover images may vary from those shown