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Published Date: 2017-01-18Number of Pages: 135

Blockchain Technology Market (Type - Public Blockchain, Private Blockchain, and Consortium Blockchain; Application - Financial Services and Non-financial Sector) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Global Blockchain Technology Market: Snapshot

Blockchain technology refers to a distributed database for all the digital transactions, which eliminates the need for the third party to authenticate the transactions. In recent years several consumers, institutions, and organizations are adopting blockchain technology as it not only reduces the transaction cost as it removes a point of verification but also speeds up the actual transaction process. Owing to this very reason the global market is expected to witness a remarkable progress rate in the coming few years. According to the research report, the global blockchain technology market was valued at US$315.9 mn in 2015 and is expected to reach US$20 bn by the end of 2024. During the forecast years of 2016 and 2024, the global market is expected to rise at a CAGR of 58.7%.

blockchain technology market

Penetration of IoT Opens Up Lucrative Business Opportunities

Analysts anticipate that the global blockchain technology market will witness a spike in demand as it is known to reduce the risks related to frauds and identity thefts. Citing this reason, financial institutions are exploring options of collaborating with blockchain startups as well as investing in their research and development projects. The proliferation of Internet of Things (IoT) across various industries is also expected to play a crucial part in the uptake of these technologies. For instance, the banking sector is continuously working on the digitization of its services and facilities, which is likely to encourage swift uptake of blockchain technology in the coming years. Some of the potential areas for growth for the blockchain technology market are the smart contract, smart property, non-financial sector, healthcare, and music industries.

Early Adoption of Technology Keeps North America Blockchain Technology Market Ahead of Other Regions

In terms of geography, the global blockchain technology market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Of these North America held the largest share in the global market in 2015. The dominance of this region was attributable to the presence of several leading players and increasing investments in the development of their technology. The report suggests that the U.S. is expected to be the key contributor to the rising revenue of North America blockchain technology market in the coming years. The overall acceptance of technology in the region is also likely to boost the regional market in the coming years.

Additionally, Asia Pacific is also expected to show a significant growth rate in the global blockchain technology market. This regional market is expected to expand at a CAGR of 61.3% in the coming years. The booming economies of China, Japan, and India and their strengthening resolve to digitize their economies is expected to play an important role in shaping the trajectory of the Asia Pacific blockchain technology market in the coming years. In the meanwhile, rising investments in blockchain technology in developing regions of the Middle East and South America are also expected to help the market gain momentum, especially in the financial sector in the coming years.

The key players operating in the global blockchain technology market are Microsoft Corporation, Deloitte Touche Tohmatsu Limited, IBM Corporation, R3, Chain Inc., Consensus Systems (ConsenSys), Ripple, Digital Asset Holdings LLC, and Credits. The competition is high in the market due to the strong presence of several players. Most of these companies are expected to focus on mergers and acquisitions to improve their consumer base and enhance their product offerings.

1. Preface
     1.1. Research Scope and Market Segmentation
     1.2. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary : Blockchain Technology Market 

4. Market Overview
     4.1. Introduction
            4.1.1. Definition
            4.1.2. Market Evolution
     4.2. Market Dynamics
            4.2.1. Drivers
            4.2.2. Restraints
            4.2.3. Opportunity
     4.3. Porter’s Five Force Analysis
     4.4. Global Blockchain Technology Market Analysis and Forecasts, 2014 – 2024
     4.5. Market Revenue Projections,2014-2024 (US$ Mn)
     4.6. Key Market Indicator

5. Global Blockchain Technology Market Analysis and Forecasts, By Type
     5.1. Introduction & Definition
     5.2. Key Findings 
     5.3. Key Trends
     5.4. Global Blockchain Technology Market Size (US$ Mn) and Forecast ,By Type, 2014 – 2024 
            5.4.1. Public blockchain
            5.4.2. Private blockchain
            5.4.3. Consortium blockchain
     5.5. Global Blockchain Technology Market Value Share Analysis, By Type, 2014 – 2024 
     5.6. Global Blockchain Technology Market Analysis, By Type, 2016 and 2024
     5.7. Market Attractiveness By Type

6. Global Blockchain Technology Market Analysis and Forecasts, By Application
     6.1. Introduction & Definition
     6.2. Key Findings 
     6.3. Key Trends
     6.4. Global Blockchain Technology Market Size (US$ Mn) and Forecast , By Application, 2014 – 2024 
            6.4.1. Financial services
            6.4.2. Non-financial sector
     6.5. Global Blockchain Technology Market Value Share Analysis, By Application, 2014 – 2024 
     6.6. Global Blockchain Technology Market Analysis, By Application, 2016 and 2024
     6.7. Market Attractiveness By Application

7. Global Blockchain Technology Market Analysis and Forecasts, By Region
     7.1. Key Findings
     7.2. Blockchain Technology Market CAGR (2016 – 2024) Analysis, By Country
     7.3. Global Blockchain Technology Market Size (US$ Mn) and Forecast, By Region, 2014–2024 
            7.3.1. North America
            7.3.2. Europe
            7.3.3. Asia Pacific
            7.3.4. Middle East and Africa
            7.3.5. South America
     7.4. Market Attractiveness By Region

8. North America Blockchain Technology Market Size and Forecast
     8.1. Key Findings
     8.2. Market Overview
     8.3. North America Blockchain Technology Market Size (US$ Mn) and Forecast By Type, 2014 – 2024 
            8.3.1. Public blockchain
            8.3.2. Private blockchain
            8.3.3. Consortium blockchain
     8.4. North America Blockchain Technology Market Size (US$ Mn) and Forecast By Application, 2014 – 2024 
            8.4.1. Financial services
            8.4.2. Non-financial sector
     8.5. North America Blockchain Technology Market Size (US$ Mn) and Forecast By Country, 2014 – 2024 
            8.5.1. The U.S.
            8.5.2. Canada
            8.5.3. Rest of North America
     8.6. North America Blockchain Technology Market Attractiveness Analysis 
            8.6.1. By Type
            8.6.2. By Application
            8.6.3. By Country

9. Europe Blockchain Technology Market Size and Forecast
     9.1. Key Findings
     9.2. Key Trends
     9.3. Europe Blockchain Technology Market Size (US$ Mn) and Forecast By Type, 2014 – 2024 
            9.3.1. Public blockchain
            9.3.2. Private blockchain
            9.3.3. Consortium blockchain
     9.4. Europe Blockchain Technology Market Size (US$ Mn) and Forecast By Application, 2014 – 2024 
            9.4.1. Financial services
            9.4.2. Non-financial sector
     9.5. Europe Blockchain Technology Market Size (US$ Mn) and Forecast By Country, 2014 – 2024 
            9.5.1. The U.K.
            9.5.2. Germany
            9.5.3. France
            9.5.4. Rest of Europe
     9.6. Europe Blockchain Technology Market Attractiveness Analysis 
            9.6.1. By Type
            9.6.2. By Application
            9.6.3. By Country

10. Asia Pacific Blockchain Technology Market Size and Forecast
     10.1. Key Findings
     10.2. Key Trends
     10.3. Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast By Type, 2014 – 2024 
            10.3.1. Public blockchain
            10.3.2. Private blockchain
            10.3.3. Consortium blockchain
     10.4. Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast By Application, 2014 – 2024 
            10.4.1. Financial services
            10.4.2. Non-financial sector
     10.5. Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast By Country, 2014 – 2024 
            10.5.1. India
            10.5.2. China
            10.5.3. Japan
            10.5.4. Australia
            10.5.5. Rest of Asia Pacific
     10.6. Asia Pacific Blockchain Technology Market Attractiveness Analysis 
            10.6.1. By Type
            10.6.2. By Application
            10.6.3. By Country

11. Middle East and Africa (MEA) Blockchain Technology Market Size and Forecast
     11.1. Key Findings
     11.2. Key Trends
     11.3. Middle East and Africa (MEA) Blockchain Technology Market Size (US$ Mn) and Forecast By Type, 2014 – 2024 
            11.3.1. Public blockchain
            11.3.2. Private blockchain
            11.3.3. Consortium blockchain
     11.4. Middle East and Africa (MEA) Blockchain Technology Market Size (US$ Mn) and Forecast By Application, 2014 – 2024 
            11.4.1. Financial services
            11.4.2. Non-financial sector
     11.5. Middle East and Africa (MEA) Blockchain Technology Market Size (US$ Mn) and Forecast By Country, 2014 – 2024 
            11.5.1. GCC
            11.5.2. South Africa
            11.5.3. Rest of MEA
     11.6. Middle East and Africa (MEA) Blockchain Technology Market Attractiveness Analysis 
            11.6.1. By Type
            11.6.2. By Application
            11.6.3. By Country

12. South America Blockchain Technology Market Size and Forecast
     12.1. Key Findings
     12.2. Key Trends
     12.3. South America Blockchain Technology Market Size (US$ Mn) and Forecast By Type, 2014 – 2024 
            12.3.1. Public blockchain
            12.3.2. Private blockchain
            12.3.3. Consortium blockchain
     12.4. South America Blockchain Technology Market Size (US$ Mn) and Forecast By Application, 2014 – 2024 
            12.4.1. Financial services
            12.4.2. Non-financial sector
     12.5. South America Blockchain Technology Market Size (US$ Mn) and Forecast By Country, 2014 – 2024 
            12.5.1. Brazil
            12.5.2. Argentina
            12.5.3. Rest of South America
     12.6. South America Blockchain Technology Market Attractiveness Analysis 
            12.6.1. By Type
            12.6.2. By Application
            12.6.3. By Country

13. Competition Landscape
     13.1. Market Player – Competition Matrix
     13.2. Market Share Analysis By Company (2015)
     13.3. Company Profiles 
            13.3.1. Microsoft Corporation
                      13.3.1.1. Company details
                      13.3.1.2. Company description
                      13.3.1.3. Business Overview
                      13.3.1.4. SWOT analysis
                      13.3.1.5. Financials
                      13.3.1.6. Strategic overview
            13.3.2. Deloitte Touche Tohmatsu Limited
                      13.3.2.1. Company details
                      13.3.2.2. Company description
                      13.3.2.3. Business Overview
                      13.3.2.4. SWOT analysis
                      13.3.2.5. Financials
                      13.3.2.6. Strategic overview
            13.3.3. IBM Corporation
                      13.3.3.1. Company details
                      13.3.3.2. Company description
                      13.3.3.3. Business Overview
                      13.3.3.4. SWOT analysis
                      13.3.3.5. Financials
                      13.3.3.6. Strategic overview
            13.3.4. R3
                      13.3.4.1. Company details
                      13.3.4.2. Company description
                      13.3.4.3. Business Overview
                      13.3.4.4. SWOT analysis
                      13.3.4.5. Financials
                      13.3.4.6. Strategic overview
            13.3.5. Chain Inc.
                      13.3.5.1. Company details
                      13.3.5.2. Company description
                      13.3.5.3. Business Overview
                      13.3.5.4. SWOT analysis
                      13.3.5.5. Financials
                      13.3.5.6. Strategic overview
            13.3.6. Consensus Systems (ConsenSys)
                      13.3.6.1. Company details
                      13.3.6.2. Company description
                      13.3.6.3. Business Overview
                      13.3.6.4. SWOT analysis
                      13.3.6.5. Financials
                      13.3.6.6. Strategic overview
            13.3.7. Ripple
                      13.3.7.1. Company details
                      13.3.7.2. Company description
                      13.3.7.3. Business Overview
                      13.3.7.4. SWOT analysis
                      13.3.7.5. Financials
                      13.3.7.6. Strategic overview
            13.3.8. Digital Asset Holdings, LLC
                      13.3.8.1. Company details
                      13.3.8.2. Company description
                      13.3.8.3. Business Overview
                      13.3.8.4. SWOT analysis
                      13.3.8.5. Financials
                      13.3.8.6. Strategic overview
            13.3.9. Credits
                      13.3.9.1. Company details
                      13.3.9.2. Company description
                      13.3.9.3. Business Overview
                      13.3.9.4. SWOT analysis
                      13.3.9.5. Financials
                      13.3.9.6. Strategic overview
     13.4. Contributors
            13.4.1. Hyperledger Project
            13.4.2. Ethereum Foundation

14. Key Takeaways

List of Figures

Figure 1: Blockchain Technology Market Revenue Projections, 2014 - 2024 (US$ Mn)
Figure 2: Global Blockchain Technology Market Value Share Analysis, By Type, 2016 and 2024
Figure 3: Public Blockchain Technology Market (US$ Mn & %)
Figure 4: Private Blockchain Technology Market (US$ Mn & %)
Figure 5: Consortium Blockchain Technology Market (US$ Mn & %)
Figure 6: Blockchain Technology Market Attractiveness Analysis, By Type
Figure 7: Global Blockchain Technology Market Value Share Analysis, By Application, 2016 and 2024
Figure 8: Blockchain Technology for Financial Services Market (US$ Mn & %)
Figure 9: Blockchain Technology for Non-financial Sector Market (US$ Mn & %)
Figure 10: Blockchain Technology Market Attractiveness Analysis, By Application
Figure 12: Blockchain Technology Market Attractiveness Analysis, By Region
Figure 13: North America Blockchain Technology Market Size (US$ Mn) and Forecast, 2016 – 2024
Figure 14: North America Blockchain Technology Market Revenue Share Analysis, By Type, 2016 and 2024
Figure 15: North America Blockchain Technology Market Revenue Share Analysis, By Application, 2016 and 2024
Figure 16: North America Blockchain Technology Market Revenue Share Analysis, By Country, 2016 and 2024
Figure 17: North America Blockchain Technology Market Attractiveness Analysis, By Type
Figure 19: North America Blockchain Technology Market Attractiveness Analysis, By Country
Figure 18: North America Blockchain Technology Market Attractiveness Analysis, By Application
Figure 20: Europe Blockchain Technology Market Size (US$ Mn) and Forecast, 2016 – 2024
Figure 21: Europe Blockchain Technology Market Revenue Share Analysis, By Type, 2016 and 2024
Figure 22: Europe Blockchain Technology Market Revenue Share Analysis, By Application, 2016 and 2024
Figure 23: Europe Blockchain Technology Market Revenue Share Analysis, By Country, 2016 and 2024
Figure 24: Europe Blockchain Technology Market Attractiveness Analysis, By Type
Figure 26: Europe Blockchain Technology Market Attractiveness Analysis, By Country
Figure 25: Europe Blockchain Technology Market Attractiveness Analysis, By Application
Figure 27: Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast, 2016 – 2024
Figure 28: Asia Pacific Blockchain Technology Market Revenue Share Analysis, By Type, 2016 and 2024
Figure 29: Asia Pacific Blockchain Technology Market Revenue Share Analysis, By Application, 2016 and 2024
Figure 30: Asia Pacific Blockchain Technology Market Revenue Share Analysis, By Country, 2016 and 2024
Figure 31: Asia Pacific Blockchain Technology Market Attractiveness Analysis, By Type
Figure 33: Asia Pacific Blockchain Technology Market Attractiveness Analysis, By Country (Rest of APAC)
Figure 32: Asia Pacific Blockchain Technology Market Attractiveness Analysis, By Application
Figure 34: Middle East and Africa Blockchain Technology Market Size (US$ Mn) and Forecast, 2016 – 2024
Figure 35: Middle East and Africa Blockchain Technology Market Revenue Share Analysis, By Type, 2016 and 2024
Figure 36: Middle East and Africa Blockchain Technology Market Revenue Share Analysis, By Application, 2016 and 2024
Figure 37: Middle East and Africa Blockchain Technology Market Revenue Share Analysis, By Country, 2016 and 2024
Figure 38: Middle East and Africa Blockchain Technology Market Attractiveness Analysis, By Type
Figure 40: Middle East and Africa Blockchain Technology Market Attractiveness Analysis, By Country
Figure 39: Middle East and Africa Blockchain Technology Market Attractiveness Analysis, By Application
Figure 41: South America Blockchain Technology Market Size (US$ Mn) and Forecast, 2016 – 2024
Figure 42: South America Blockchain Technology Market Revenue Share Analysis, By Type, 2016 and 2024
Figure 43: South America Blockchain Technology Market Revenue Share Analysis, By Application, 2016 and 2024
Figure 44: South America Blockchain Technology Market Revenue Share Analysis, By Country, 2016 and 2024
Figure 45: South America Blockchain Technology Market Attractiveness Analysis, By Type
Figure 47: South America Blockchain Technology Market Attractiveness Analysis, By Country
Figure 46: South America Blockchain Technology Market Attractiveness Analysis, By Application
Figure 48: Global Blockchain Technology Market Share Analysis, By Company (2015)

List of Tables

Table 1: Blockchain Technology Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024
Table 2: Global Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024 
Table 3: Global Blockchain Technology Market Size (US$ Mn) and Forecast, By Region, 2014–2024
Table 4: North America Blockchain Technology Market Size (US$ Mn) and Forecast, By Type, 2014–2024
Table 5: North America Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024
Table 6: North America Blockchain Technology Market Size (US$ Mn) and Forecast, By Country, 2014–2024
Table 7: Europe Blockchain Technology Market Size (US$ Mn) and Forecast, By Type, 2014–2024
Table 8: Europe Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024
Table 9: Europe Blockchain Technology Market Size (US$ Mn) and Forecast, By Country, 2014–2024 (US$ Mn)
Table 10: Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast, By Type, 2014–2024
Table 11: Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024
Table 12: Asia Pacific Blockchain Technology Market Size (US$ Mn) and Forecast, By Country, 2014–2024
Table 13: Middle East and Africa Blockchain Technology Market Size (US$ Mn) and Forecast, By Type, 2014–2024
Table 14: Middle East and Africa Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024
Table 15: Middle East and Africa Blockchain Technology Market Size (US$ Mn) and Forecast, By Country, 2014–2024
Table 16: South America Blockchain Technology Market Size (US$ Mn) and Forecast, By Type, 2014–2024
Table 17: South America Blockchain Technology Market Size (US$ Mn) and Forecast, By Application, 2014–2024
Table 18: South America Blockchain Technology Market Size (US$ Mn) and Forecast, By Country, 2014–2024

Global Blockchain Technology Market: Overview

Blockchain technology offers a secure, fast, and cheaper medium of carrying out online transaction and online transfer of information without the need of third party verification. The adoption of blockchain technology in financial services sector has gained traction. Banking sector is willing to explore opportunities which would make the banking transactions more transparent and easy to process. Increased penetration of digital technology in the banking sector has resulted in the development of easy to use online platforms and applications. This drives the need to carry out the online transactions in a secure manner. Blockchain technology eliminates the frauds due to errors and identity theft to a large extent. Hence the financial services sector has been keen in exploring the technology before undertaking a wide scale deployment of this technology. This technology can benefit industries such as music and healthcare by offering easy access and exchange of digital data of these industries over the Internet.

Global Blockchain Technology Market: Drivers and Trends

The demand for blockchain technology is expected to increase in the coming years owing to the investments in blockchain technology startups, partnership between blockchain technology providers and financial organization, FinTech investments, and digitization across various industries globally. North America is expected to lead the blockchain technology market during the forecast period. Asia Pacific region is expected to witness the highest growth rate of blockchain technology during the forecast period.

The Middle East and Africa and South America are in the early phases of adoption of the technology. The anticipated growth of banking sector in Africa is expected to support the market growth of blockchain technology during the forecast period. The blockchain technology market is compressive of a large number of startups. The growth of blockchain technology startups was aided by huge venture capital investments during the period from 2013 to 2015. The market is expected to be hit by a huge wave of mergers and acquisitions in the coming years.

Global Blockchain Technology Market: Research Methodology

This research report provides an in-depth analysis of the global blockchain technology market based on type, application, and geography. The global blockchain technology market is categorized based on types into public blockchain, private blockchain, and consortium blockchain. The application segment for the global blockchain technology market are financial services and non-financial sector. The report analyzes each of these segments for the various geographies considered under the scope of the study.

The report also provides technology evolution and Porter’s Five Forces Analysis for the global blockchain technology market. The report includes analysis of the factors that drive and restrain the growth of the blockchain technology market. It discusses the prevailing market trends and prospective growth opportunities in the global blockchain technology market. It provides market estimates and forecasts for all the segments in terms of revenue. Also provided in the report is a competitive landscape and market share analysis of the major players in the blockchain technology market.

Global Blockchain Technology Market: Regional Outlook

Based on geographical regions, the report segments the global blockchain technology market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue generation. The report provides country level revenue for blockchain technology. The U.S., Canada, the U.K., Germany, France, India, Chain, Japan, Australia, GCC, South Africa, Brazil, and Argentina are the countries covered in the report.

Key Players Mentioned in this Report are:

Major business strategies adopted by key players, their SWOT analysis, and competition matrix has also been identified in the research report. The key market players profiled in this study include Microsoft Corporation, Deloitte Touche Tohmatsu Limited, IBM Corporation, R3, Chain Inc., Consensus Systems (ConsenSys), Ripple, Digital Asset Holdings LLC, and Credits. The report has also profiled two major contributors such as Hyperledger project and Ethereum Foundation in the report.

Global Blockchain Technology Market

By Type

  • Public blockchain
  • Private blockchain
  • Consortium blockchain

By Application

  • Financial services
  • Non-financial sector

By Geography

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
  • Asia Pacific
    • India
    • China
    • Japan
    • Australia
  • Middle East and Africa
    • GCC
    • South Africa
  • South America
    • Brazil
    • Argentina


 
 
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