Blockchain Market By type (Public blockchain, Private blockchain), By provider (Application and solution, Middleware, Infrastructure and protocol), By organization size (Large enterprises, Small and medium enterprises), By End User (Government, BFSI, Automotive, Retail & E-Commerce, Media & Entertainment), Industry Trends, Estimation & Forecast, 2016 - 2024

September 2017

 Pages: 154

 ERC 9761

Global Blockchain Market is expected to reach $9,617.4 million by 2024, having a CAGR of 60.8% during the forecast period of 2017 to 2024. The private blockchain segment garnered the highest market share globally, accounting for more than 50% of the market size in 2016.

Blockchain is undoubtedly a fruitful invention that is a decentralized and digitized public ledger of all cryptocurrency transactions. It enables the distribution of digital information over the internet and does not allow the information to be copied. The blockchain network is a self-auditing ecosystem that lives in a state of consensus. The network automatically checks in with itself, every transaction, in a ten-minute interval. Being a decentralized technology, the blockchain network functions on a peer-to-peer basis and eliminates the risks involved in a centralized data handling system. Blockchain is a digital ledger of economic transaction, which is incorruptible and can be programmed to expand its usefulness in recording virtually everything of value and not just the financial transactions. Blockchain is widening its scope of applications, rather than just verifying transactions of digital currencies. Various business operations can be simplified by the application of blockchain technology, due to which it has a potential scope in fields like diamonds, music, and IoT devices. Blockchain has proved to be useful in reducing 75% of the time consumed by IBM Global Financing in resolving financial disputes. Furthermore, the technology is capable of stretching its arms towards applications such as weapon/vehicle registrations, voting system, confirm ownership of antiquities, and medical records. The global blockchain market is expected to offer humongous opportunities to the market players during the forecast period.

Market Determinants

Blockchain has emerged out as a time-efficient and cost-effective technology, which is driving the growth of this market. Small and Medium Enterprises have a high adoption rate of blockchain technology. The market growth is highly hampered due to several political challenges, regulatory approvals, software design and programming required to link the blocks of ever-growing size of blockchain. However, the market is anticipated to offer lucrative opportunities to the existing market players and new entrants as well, owing to its increasing number of applications in various fields.


Market Segmentation

The blockchain market is bifurcated on the basis of type, provider, organization size, end user, application and geography. By type, the market is categorized as public and private. On the basis of provider, the market is segmented as application and solution provider, middleware provider and infrastructure and protocol provider. On the basis of organization size, the market is segmented into large enterprises and small and medium enterprises. By End User, the market is segmented as government, BFSI, Automotive, Retail and E-commerce, Media & Entertainment and others. By Geography, the market is segmented as North America, Europe, Asia-Pacific and Rest of World.


Some major players active in the global blockchain market are Chain Inc., IBM Corporation, Accenture Plc., Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, Earthport.

Blockchain Market Segmentation

By Type
   • Public Blockchain
   • Private Blockchain

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

By Organization size
   • Large enterprises
   • Small and medium enterprises

By End User
   • Government
   • BFSI
   • Automotive
   • Retail & E-Commerce
   • Media & Entertainment
   • Others

By Geography
   • North America
           • U.S.
           • Mexico
           • Canada

   • Europe
           • UK
           • Germany
           • France
           • Rest of Europe

   • Asia-Pacific
           • China
           • Japan
           • India

   • Rest of Asia-Pacific
           • Rest of World
           • Latin America
           • Middle East
           • Africa

Blockchain Market Key Players

   • Chain Inc.
   • IBM Corporation
   • Accenture Plc.
   • Eris Industries
   • Intel Corporation
   • Deloitte
   • Blockchain Tech Ltd.
   • Microsoft Corporation
   • Digital Asset Holdings
   • Earthport

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    What Information does this report contain?

    • What was the market size of the Blockchain Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Blockchain Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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