Blockchain Technology Market: Global Market Analysis and Future Growth Trends

The growing demand for distributed ledger technology, reduced total cost of ownership, increasing cryptocurrencies market cap and initial coin offerings, growing demand for abridged business procedures and creating transparency and immutability, faster transactions and increasing adoption of Blockchain-as-a-Service are the driving factors which boost the blockchain technology market. The base year considered for this report is 2017 and the market forecast period is 2018–2023.

Objectives of the Study
The main objective of the report is to define, describe, and prognosis the global blockchain market on the fundament of providers, applications, organization sizes, verticals, and realm. The report provides detailed data regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenge). The report aims to strategically analyse the micro-markets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 4 main regions, namely, Americas, Europe, Asia Pacific (APAC), and Rest of World (RoW). The report strategically profiles key players and comprehensively analyses their core competencies. Also, it tracks and analyses organic and inorganic strategies, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; venture funding; and Research and Development (R&D) activities in the market.

Research Methodology
The research methodology used to estimate and forecast the blockchain technology market began with capturing data on key vendor revenues through secondary research, which included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

The blockchain technology market ecosystem includes various companies, such as AlphaPoint (US), Coinbase (US), Digital Asset Holdings LLC. (US), Earthport PLC (UK), Factom (US), International Business Machines Corporation (US), Microsoft Corporation (US), Citigroup (US), Monax (UK), and Ripple (US).

The other stakeholder of the blockchain technology market include cryptocurrency vendors, research organizations, network and system integrators, blockchain service provider, distributed ledger applied science solution supplier, marketing analytics executives, third-party service supplier, and technology providers.

Blockchain Target Audience

• Service providers and distributors
  
• Blockchain application builders
  
• Customer experience management professionals
  
• Independent Software Vendors (ISVs)
  
• Analytics consulting companies
  
• Enterprises
  
• End-users
  

Scope of the Report
The research report classifies the blockchain technology market to forecast the revenues and analyse the trends in each of the following subsegments:
By Type

• Public
  
• Private
  
• Hybrid
  

By Provider

• Application and solution provider
  
• Middleware provider
  
• Infrastructure and protocol provider
  

By Application

• Payments
  
• Exchanges
  
• Digital identity
  
• Smart Contracts
  
• Documentation
  
• Supply chain management
  
• Governance, risk and compliance management
  

By End Users

• Banking, Financial Services, and Insurance (BFSI)
  
• Government and public sector
  
• Healthcare
  
• Media and entertainment
  
• Retail and e-commerce
  
• Travel and hospitality
  
• Transportation and logistics
  
• IT and telecommunications
  
• Others (automotive, education, and energy and utilities)
  

By Region

• North America
  
• Europe
  
• APAC
  
• RoW