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Market Summary

The global blockchain market is forecast to reach USD 60.12 Billion by 2026, according to a new report by Reports and Data. The blockchain is a technology that keeps a record for any digital transactions made by the users in multiple systems for decentralized storage of data. The digital economy has changed dramatically over the years with a rise in the value of cryptocurrencies, such as ‘Bitcoin’ increasing exponentially in the last couple of years. The technology that supports cryptocurrency is known as the blockchain. It serves as an encrypted ledger to keep a track on the cryptocurrency value and ownership.

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The companies spend approximately 25% of the total digital marketing budget on paid media. Approximately USD 7 Billion is wasted by marketers on online ads which users are unable to see. The concept of blockchain can be applied to advertisements so that it offers an efficient and transparent system for online marketplaces. With the help of a distributed system and decentralized ledger, advertisers can easily audit the ads without being cheated.

With the rising interest in the market, there has been an increase in the number of blockchain companies as well. Investment funding has increased. Companies in every region are trying to take advantage of the benefits of the market, and many are trying to adopt their own private version of cryptocurrency and blockchain. The technology is spreading to every sector, including healthcare and agriculture.

Key Coverage of the Report

Region and country wise statistics of the global blockchain market from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.

Estimation of the market size along with historical and forecasted trend analysis.

Various product types available for the market have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.

Share of vertical, including government, it & telecommunications, healthcare, BFSI, real estate, retail and e-commerce, media and entertainment, transportation and logistics, energy and utilities, and others, have been estimated.

Regional up-coming research and application outlook.

Regional prevalence has been mapped.

Demand and Supply GAP Analysis

Regional Competitors Pricing Strategy

Market share analysis of the top industry players

Strategic recommendations for the new entrants

Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

Strategic recommendations in key business segments based on the market estimations

Competitive landscaping mapping the key common trends

Company profiling with detailed strategies, financials, and recent developments.

Salient Trends of the Blockchain Market

As blockchain is hard to corrupt and it records accurate histories of online behavior, it is also able to track the gray areas in online advertising. The number of ads viewed by viewers are tracked and can help the company in not over delivering them.

One of the major application that has garnered plenty of attention and also helped in the growth of the blockchain market is cryptocurrency, especially ‘Bitcoin.’ Even though Bitcoin is the largest name in the cryptocurrency world, other currencies such as XRP and Ethereum are also carving out a significant market share.

Blockchain are benefitting banks as well. Approximately 69% of the banks are experimenting with permissioned blockchain. This technology could save the banks up to USD 8 to USD 10 Billion every year. The experimentation of blockchain in the banking sector has encouraged the growth of the market as well.

Blockchain offers the ultimate defense against hacking and also offers transparency and security against tampering of information. It eliminates the need for the third party as a witness for transactions and is also advantageous for innovative businesses.

North America is the current leader of the market, but China is expected to outpace it in the coming years. The country’s spending on the market is doubling every year and a rising number of country’s startups are competing for the larger market share.

Gatcoin plans on combining blockchain and mobile targeting to help retailers attract and keep the existing customers.

Companies considered and profiled in this market study

IBM, Microsoft, SAP, Oracle, Symbiont, Huawei, Blockpoint, BTL Group, Factom, and Earthport.

The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

Market-O-Nomics

The valuation for the blockchain market was USD 7.31 Billion in 2018, and it is expected to reach USD 60.12 Billion by 2026.

The presence of retail giants such as Walmart, Amazon, Costco, and The Home Depot, among others in North America are utilizing blockchain data sharing system to help customers let them know their needs and preference, sending them shopping lists in the form of smart contracts. Retail and e-commerce sector in North America are forecasted to grow with a CAGR of 24.7% during the forecast period.

Digital identity is forecasted to hold a market share of ~16% during the year 2026. Data in a blockchain technology is not owned by any one entity; thus, it provides privacy and protection of one’s personal details from exploitation. Data entered into the blockchain are tamper proof owing to its cryptographic nature, which makes the blockchain technology more desirable.

Blockchain is opening up new prospect in the energy and utility sector as well. They held a market share of ~6% in the year 2018. In April 2016, residents of Brooklyn in New York traded renewable energy amongst the members successfully using a smart contract on the public Ethereum Blockchain platform.

Europe is forecasted to hold a market share of ~32% in 2026. On April 2018, the European Union and Norway signed a declaration creating the European Blockchain Partnership (EPB). The declaration was signed to support the cooperation of the establishment of European Blockchain Services Infrastructure (EBSI) that is expected to aid in the delivery of cross border digital public services with the highest standard of privacy and security.

Asia Pacific is forecasted to grow with the highest CAGR of 24.6% during the forecast period. The region is a hub for international finance which is boosting the growth of the BFSI sector and supply chain management. The government regulations are also blockchain-friendly in the region. China will have the highest rate of adoption of blockchain. The country has banned cryptocurrencies and is trending a new phase “Blockchain not Bitcoin” to define the country’s strategy.

Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented into the global blockchain market on the basis of provider, application, organization size, vertical, and region:

Provider Outlook (Revenue, USD Billion; 2016-2026)

Application Providers

Middleware Providers

Infrastructure Providers

Application Outlook (Revenue, USD Billion; 2016-2026)

Payments

Exchanges

Smart Contracts

Documentation

Digital Identity

Supply Chain Management

Others

Organization Size Outlook (Revenue, USD Billion; 2016-2026)

Small and Medium-Sized Enterprises

Large Enterprises

Vertical Outlook (Revenue, USD Billion; 2016-2026)

Government

IT & Telecommunications

Healthcare

BFSI

Real Estate

Retail and E-commerce

Media and Entertainment

Transportation and Logistics

Energy and Utilities

Others

Regional Outlook (Revenue, USD Billion; 2016-2026)

North America U.S.

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

