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Blockchain Market in Small & Medium Business - Forecast (2022 - 2027)

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    Report

  • 122 Pages
  • April 2022
  • Region: Global
  • IndustryARC
  • ID: 5616272
The global Blockchain in Small and Medium Businesses Market is estimated to surpass the $4.5 billion mark by 2027 growing at an estimated CAGR of more than 20.59% during the forecast period 2022 to 2027. The Blockchain technology is mainly designed to enable the maintenance of a permission less distributed databases which consists of a growing list of data records that preserves the integrity, singularity and validity of the stored information, without involving any trusted third party for verification purposes. It has the potential to protect the identities of the user that make Blockchain a more secure way to carry out the transaction. With the modernization in every sector especially by the digitalization of currency; Blockchain technology has penetrated deeply into all the industries verticals. The various industry verticals that use Blockchain technology include banking financial services & insurance (BFSI), information and communication, healthcare, logistics, supply chain & transportation, e-commerce and retail and others.

Report Coverage


The report: “Blockchain in Small and Medium Businesses Market - Forecast (2022-2027)”, covers an in-depth analysis of the following segments of the Blockchain in Small and Medium Businesses Market.
  • By Product & Services : Exchanging, Trading and Investment.
  • By Provider Type : Infrastructure and Protocol Provider, Application and Solution Provider.
  • By Type : Public, Private, Consortium and Others.
  • By Industry : Retail, Healthcare, Transportation, BFSI, Industrial and Others.
  • By Geography : North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (the Middle East and Africa).

Key Takeaways


The multitudinal benefits of Blockchain technology such as providing a concrete digital records that are auditable and the availability of checking the status of the products in every phase possible are considered to be the major drivers of the Blockchain Market for Small and Medium Businesses.

With the growth and future of the $16 trillion international trade market heavily relies upon the easily availability and robustness of financial mechanisms, Blockchain technology emerged as the viable option for establishing a clear chain of financial services. This is likely to fuel the growth of the market in the future.

People are concerned about service centres and garages fitting counterfeit spare parts into their vehicle. A Blockchain-based system will help the service centre, or the car manufacturer and the customer to trace the provenance of spare parts in every step of the supply chain, thus reducing the damage to brand reputation.

The blockchain platform is designed for this Machine-to-machine (M2M) economy. A Blockchain Mobility platform helps to become responsible towards maintaining new electric car products and services. This helps to build a healthy ecosystem culture to shift away from gas burning vehicles.

Blockchain in Small and Medium Businesses Market Segment Analysis - By Product and Services


Bitcoin-based payroll service can save both money and time while, transferring money internationally. The technology would provide digitally permanent, audit-able records that show stakeholders the state of the product at each value-added step. The Blockchain technology is therefore expected to acquire exponential growth. However, the Lack of awareness about the blockchain technology is the major restraint in the overall growth of the market. Blockchain has brought revolutionary changes in SMB (small and medium sized businesses) sector. With Blockchain technology now traders across the globe got an opportunity to exchange confidential information and other transactional activities in an encrypted and veritable environment. This include contract signing, invoicing, insurance policies, and other bill payments.

Blockchain in Small and Medium Businesses Market Segment Analysis - By Application


While blockchain is significantly adopted in the financial sector, the proportion of SMEs adoption blockchain is higher in the retail sector. Blockchain in the Retail Market has a lot of areas of application including Improving trust and transparency by which chronological data provided by blockchain help customers to keep track of every point of the supply chain, the validity of brands for customers who are brand conscious are always facing the fear of weather the product is being sold is original or replica, supply chain and inventory management where blockchain manage the supply chain and inventory management for retailers without hassle, payments and E-commerce, automated customer service. This significant avenues of application are set to drive the market.

Blockchain in Small and Medium Businesses Market Segment Analysis - By Geography


Geographically, North America is the leading market in terms of the adoption of blockchain technology across the various SME applications. The U.S. has the highest number of SME companies that have adopted blockchain technology. Europe is the next leading marketplace, Germany leading the market in the adoption of high-technological-based cars where blockchain adoption has been growing. With automobiles becoming largely automatic and more software oriented, the automotive industry is entering a new age of digitization. In our field of vision, this is where the blockchain revolution can be a pivotal enabler of change. The presence of major market players and growing concerns for forgery in the region have propelled the adoption of blockchain in the BFSI sector.

Blockchain in Small and Medium Businesses Market Drivers


Growth in Demand for Increased Scalability, Transaction Speed, and Reduction In Processing Costs


Blockchain technology in the banking and finance sector is disrupting with its enhanced cryptographic security and transparency. It is estimated that 45% of financial institutions are vulnerable to financial crimes regularly, which is one of the major factors that banks and financial institutions are shifting towards blockchain solutions. Transactions performed through blockchain can eliminate third-party payment gateways resulting in fast-paced financial transactions. Thus, such factors are expected to provide major opportunities for the market growth in the upcoming years. Furthermore, blockchain is typically known for its enhanced security as it provides cryptographic security for its databases and transactions which is also the key factor that adds transparency and helps in fraud reduction hence, is expected to boost the market growth.

Rising Digitalization set up to drive adoption of Blockchain


Rising digitalization has been acting as a major driving factor towards boosting the market growth of blockchain technology. With technological advancements and digitalization, the adoption of blockchain technology is gaining much popularity across various industries. Usage of blockchain technology helps in reducing the manpower requirement which leads to less human error thus acting as a secured and time efficient tool. Moreover, blockchain solutions help in removing the need for middlemen in application areas like payments and real estate, causing faster transactions. This ultimately attracts the industries to digitalise and replace their existing systems with a unified blockchain based system to get a more efficient and flexible experience. Due to the dominance for adopting digitalised technology for the improvement of work processes, major industries have been propelling the demands for the blockchain market.

Blockchain in Small and Medium Businesses Market Challenges


Data Security Challenges


Security and privacy concerns are some major factors that are restricting the growth of blockchain technology in the market. The rising rate of cybercrimes has been adversely affecting the deployments of blockchain technology across various industries. Though the transactions offer high levels of transparency and security, there are still chances of financial data records getting hacked by cyber criminals. Loss of financial transaction data records from any reason can have a negative impact on the market growth of any organization. Data protection is one of the major factors for efficient and reliable transaction management in order to improve customer satisfaction. High concerns regarding the safety and security of blockchain technology have been causing lesser adoption by the organizations, thus restraining its market growth.

Market Landscape


Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Blockchain in Small and Medium Businesses Market. IBM, Accenture, Microsoft, Tech Mahindra, HCL Technologies, Xain, SAP SE, Oracle Corporation, Amazon Web Services, ConsenSys and others are considered to be the key players in the Blockchain in Small and Medium Businesses Market.

Acquisitions/Technology Launches/Partnerships


In December 2019, Bitfury had launched a corporate blockchain platform named Exonum Enterprise. With this launch, the company claimed to help large companies in the optimization of processes along with increased transparency. Exonum offers managing upto 5000 transactions within a second along with providing a dashboard to help users track blockchain activity. This solution has been linked with bitcoin’s blockchain which acts as a bridge between a system with limited access and a fully public network.

In March 2020, Alphapoint successfully raised $5.6 million in an additional funding round, taking its total capital raised to date to $23.9 million. The latest investment will go towards developing new trading features including improved margin trading and liquidity solutions and advanced brokerage capabilities.


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Table of Contents

1. Blockchain Market in Small & Medium Business - Overview
1.1. Definitions and Scope
2. Blockchain Market in Small & Medium Business - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Blockchain Market in Small & Medium Business
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis
4. Blockchain Market in Small & Medium Business Forces
4.1. Drivers
4.2. Constraints
4.3. Challenges
4.4. Porters five force model
4.4.1. Bargaining power of suppliers
4.4.2. Bargaining powers of customers
4.4.3. Threat of new entrants
4.4.4. Rivalry among existing players
4.4.5. Threat of substitutes
5. Blockchain Market in Small & Medium Business -Strategic analysis
5.1. Value chain analysis
5.2. Opportunities analysis
5.3. Product life cycle
5.4. Suppliers and distributors Market Share
6. Blockchain Market in Small & Medium Business - BY TYPE (Market Size -$Million / $Billion)
6.1. Market Size and Market Share Analysis
6.2. Application Revenue and Trend Research
6.3. Product Segment Analysis
6.3.1. Introduction
6.3.2. Public Blockchain
6.3.3. Private Blockchain
6.3.4. Consortium Blockchain
6.3.4. Others(Hybrid Blockchain)
7. Blockchain Market in Small & Medium Business - BY Product & Services (Market Size -$Million / $Billion)
7.1. Introduction
7.2. Exchanging
7.3. Trading
7.4. Investment
7. Blockchain Market in Small & Medium Business - BY PROVIDER TYPE (Market Size -$Million / $Billion)
7.1. Introduction
7.2. Infrastructure and Protocol provider
7.3. Application and Solution Provider
8. Blockchain Market in Small & Medium Business - BY INDUSTRY (Market Size -$Million / $Billion)
8.1. Introduction
8.2. Retail
8.3. Financial Services
8.4. Chemicals
8.5. Healthcare
8.6. Transportation
8.7. Others
9. Blockchain Market in Small & Medium Business - By Geography (Market Size -$Million / $Billion)
9.1. Blockchain Market in Small & Medium Business - North America Segment Research
9.2. North America Market Research (Million / $Billion)
9.2.1. Segment type Size and Market Size Analysis
9.2.2. Revenue and Trends
9.2.3. Application Revenue and Trends by type of Application
9.2.4. Company Revenue and Product Analysis
9.2.5. North America Product type and Application Market Size
9.2.5.1. U.S.
9.2.5.2. Canada
9.2.5.3. Mexico
9.2.5.4. Rest of North America
9.3. Blockchain Market in Small & Medium Business - South America Segment Research
9.4. South America Market Research (Market Size -$Million / $Billion)
9.4.1. Segment type Size and Market Size Analysis
9.4.2. Revenue and Trends
9.4.3. Application Revenue and Trends by type of Application
9.4.4. Company Revenue and Product Analysis
9.4.5. South America Product type and Application Market Size
9.4.5.1. Brazil
9.4.5.2. Venezuela
9.4.5.3. Argentina
9.4.5.4. Ecuador
9.4.5.5. Peru
9.4.5.6. Colombia
9.4.5.7. Costa Rica
9.4.5.8. Rest of South America
9.5. Blockchain Market in Small & Medium Business - Europe Segment Research
9.6. Europe Market Research (Market Size -$Million / $Billion)
9.6.1. Segment type Size and Market Size Analysis
9.6.2. Revenue and Trends
9.6.3. Application Revenue and Trends by type of Application
9.6.4. Company Revenue and Product Analysis
9.6.5. Europe Segment Product type and Application Market Size
9.6.5.1. U.K
9.6.5.2. Germany
9.6.5.3. Italy
9.6.5.4. France
9.6.5.5. Netherlands
9.6.5.6. Belgium
9.6.5.7. Spain
9.6.5.8. Denmark
9.6.5.9. Rest of Europe
9.7. Blockchain Market in Small & Medium Business - APAC Segment Research
9.8. APAC Market Research (Market Size -$Million / $Billion)
9.8.1. Segment type Size and Market Size Analysis
9.8.2. Revenue and Trends
9.8.3. Application Revenue and Trends by type of Application
9.8.4. Company Revenue and Product Analysis
9.8.5. APAC Segment - Product type and Application Market Size
9.8.5.1. China
9.8.5.2. Australia
9.8.5.3. Japan
9.8.5.4. South Korea
9.8.5.5. India
9.8.5.6. Taiwan
9.8.5.7. Malaysia
10. Blockchain Market in Small & Medium Business - Entropy
10.1. New product launches
10.2. M&A's, collaborations, JVs and partnerships
11. Blockchain Market in Small & Medium Business Company Analysis
11.1. Market Share, Company Revenue, Products, M&A, Developments
11.2. ABB Ltd.
11.3. 21, Inc.
11.4. Abra, Inc
11.5. Alphaphoint
11.6. Bitfury
11.7. Chain, Inc.
11.8. Coinbase
11.9. Deloitte
11.10. Digital Asset Holdings
11.11. Digitalx Ltd. (Digital Cc Ltd.)
11.12. Earthport
11.13. Global Arena Holding, Inc. (GAHI)
11.14. IBM Corporation
11.15. Intelygenz
11.16. Microsoft Corporation
11.17. Company 17
11.18. Company 18
11.19. Company 19 and More
12. Blockchain Market in Small & Medium Business -Appendix
12.1. Abbreviations
12.2. Sources

Methodology

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