Blockchain in Government Market: Introduction

  • Blockchain technology is being used in the government sector to create transparent, open, and collaborative networks. Technology has the ability to improve government services and create more transparent relations in governments.
  • Additionally, blockchain technology allows for secure data sharing while also making it visible and absolute for all participants. The government's role in regulating blockchain-based transactions is gradually rising in order to improve corporate decision-making, simplify compliance and regulatory management, and reduce overall costs. This is expected to boost the growth of the blockchain in government market.
  • Furthermore, the extensive adoption of blockchain technology in various application areas such as identity management, voting, and smart contracts, as well as rapidly transforming business processes in government agencies and increasing venture funding and investments in blockchain technology, will provide growth opportunities for blockchain in government market vendors.

blockchain in government market size and forecast

Global Blockchain in Government Market: Dynamics

Global Blockchain in Government Market: Key Drivers

  • The blockchain in government market is being driven by the rapid interest in blockchain technology, increasing government sector adoption, increasing instances of fraudulent activities in the public sector, increase in the use of blockchain technology to create transparent and decentralized governments, the need to protect data from tampering, and an emphasis on efficiency and speed in public sector transactions.
  • Furthermore, blockchain in government technology is utilized to minimize bureaucracy, waste, and tax fraud while also improving service delivery. Digital cash transactions can assist in the transformation of government-to-citizen financial transactions.
  • Secure supply chain management and smart contracts are features of the blockchain in government system, where contracts are automatically validated, signed, and enforced using a blockchain concept. As a result, the blockchain in government market is expected to expand.
  • Moreover, blockchain technology has seen widespread adoption due to increased infrastructure development and the expanding acceptance of advanced technologies in the government sector, resulting in hyper connection. This, in turn, is expected to drive the blockchain in government market.

North America to Account for Major Share of the Global Blockchain in Government Market

  • In terms of region, the global blockchain in government market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • In terms of technology adoption and infrastructure, North America is recognized as the most advanced region. Presence of a large number of significant blockchain technology solution providers in the region is the primary driving force behind the blockchain in government market. Payment and wallet solutions, smart contracts, and digital identity detection solutions are all being implemented by government agencies, necessitating the use of blockchain technologies. The presence of big firms in the region is also enhancing the blockchain in government market.
  • Furthermore, Asia Pacific is predicted to be the fastest growing market during the forecast period due to rising use of digital payments, digital wallets, and smart contracts. In recent days, governments in countries such as India Japan, and China have undertaken the deployment of blockchain technology. Governments of these countries are supporting the use of blockchain due to the massive benefits it provides to a variety of industries, including enhanced transparency and efficiency. This is anticipated to drive the blockchain in government market in this region.

Blockchain in Government market region analysis

Global Blockchain in Government Market: Competitive Landscape

Key Players Operating in the Global Blockchain in Government Market

Providers of blockchain in government are implementing development strategies to enhance their presence and consolidate their share in the market. Blockchain in government providers have adopted major growth strategies such as product acquisitions, partnerships, and launches, forming regional and global distribution networks in order to expand their presence in the market.

Key players operating in the global blockchain in government market include:

  • IBM Corporation
  • SAP SE
  • Microsoft Corporation
  • Oracle Corporation
  • Deloitte Touche Tohmatsu Limited
  • Infosys Limited
  • Accenture Plc
  • Amazon Web Services, Inc.
  • Auxesis Group
  • Intel Corporation
  • SpinSys
  • Bitfury Group Limited
  • Cegeka
  • ModulTrade
  • BLOCKO Inc.
  • Symbiont
  • Brainbot Technologies AG
  • BigchainDB GmbH

Blockchain in Government market size by competition Landscape

Global Blockchain in Government Market: Research Scope

Global Blockchain in Government Market, by Providers

  • Application Providers
  • Middleware Providers
  • Infrastructure Providers

Global Blockchain in Government Market, by Application

  • Asset Registry
  • Identity Management
  • Payments
  • Smart Contracts
  • Voting
  • Others (Healthcare, Public Transport, and Supply Chain and Logistics)

Global Blockchain in Government Market, by Region

  • North America
    • U.S.
    • Mexico
    • Canada
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Blockchain In Government Market