Blockchain Market by Component (Platforms and Services), Provider (Application, Middleware, and Infrastructure), Type (Public, Private, and Hybrid), Organization Size(SMEs and Large Organizations), Application, and Region - Global Forecast to 2027
Blockchain Market by Component (Platforms and Services), Provider (Application, Middleware, and Infrastructure), Type (Public, Private, and Hybrid), Organization Size(SMEs and Large Organizations), Application, and Region - Global Forecast to 2027
Abstract
MarketsandMarkets forecasts that the global blockchain market will grow from an estimated USD 7.4 billion in 2022 to USD 94.0 billion by 2027 at a compound annual growth rate (CAGR) of 66.2%. One of the factors driving the market growth is increasing government initiatives using blockchain technology.
By services, Development and integration service to account for highest market share during forecast period
Development and integration service providers provide tailored blockchain development services and enterprise-class integration services for blockchain platforms and protocols. The service providers deliver cross-industry blockchain development services to streamline enterprise business operations with improved interoperability, enhanced security, and transparency. Blockchain development services fast-track peer-to-peer transactions. These providers use distributed ledger technologies and popular blockchain frameworks such as Ethereum, Hyperledger, Stellar, IOTA, Steem, Ripple, and Multichain.
By provider, application providers to grow at highest CAGR during forecast period
A blockchain platform enables end users to build applications on a distributed network. Application providers are third-party entities that distribute and manage blockchain solutions for customers across applications. The blockchain technology is a shared, decentralized ledger, which is distributed across a business network that permanently records business transactions. Companies such as AWS, Oracle, IBM, Intel, Huawei, Accenture, Wipro, and Infosys are some of the vendors operating in the global blockchain market. For instance, IBM’s blockchain platform helps speed up the process of universal cross-border payments.
The blockchain solution provides businesses and consumers with an enhanced payment system that reduces the settlement time and lowers the cost of completing global payments. Another example is Huawei Cloud's Blockchain Service (BCS) that is a secure blockchain platform enabling enterprises and developers to conveniently create, deploy, and manage applications with Huawei Cloud.
Blockchain applications are becoming more and more desirable, but they can be challenging to set up for smaller businesses with limited IT resources. A combination of a managed platform with professional assistance can aid small organizations quickly deploy blockchain. For example, the SAP Cloud Platform Blockchain Service – SAP’s major offering in blockchain technology – is a blockchain-as-a-service (BaaS) offering which provides an easy and low risk approach to create blockchain-based applications in the cloud.
Breakdown of primary participants:
•By Company Type: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
•By Designation: C-Level Executives = 40%, Managerial and Other levels = 60%
•By Region: North America = 38%, Asia Pacific = 26%, Europe = 21%, Middle East & Africa = 10%, Latin America= 5%
Major vendors in the global blockchain market include IBM (US), AWS (US), Oracle (US), Huawei (China), Accenture (Ireland), Wipro (India), Infosys (India), TCS (India), SAP (Germany), Intel (US), ConsenSys (US), NTT DATA (Japan), Bitfury (Netherlands), Guardtime (Estonia), Chain (Saint Kitts and Nevis), VMware (US), SpinSys (US), LeewayHertz (US), R3 (US), Cegeka (Netherlands), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (US), Blockpoint (US), Auxesis Group (India), Blockchain Foundry (Canada), Factom (US), Stratis (UK), Dragonchain (US).
The study includes an in-depth competitive analysis of the key players in the blockchain market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the blockchain by component, provider, type, organization size, application and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall blockchain market and the subsegments. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Content
Table of Contents
1INTRODUCTION40
1.1STUDY OBJECTIVES40
1.2MARKET DEFINITION40
1.2.1INCLUSIONS AND EXCLUSIONS41
1.3MARKET SCOPE42
1.3.1MARKET SEGMENTATION42
1.3.2BLOCKCHAIN MARKET SEGMENTATION, BY APPLICATION43
1.3.3REGIONS COVERED44
1.4YEARS CONSIDERED44
1.5CURRENCY CONSIDERED45
TABLE 1USD EXCHANGE RATES, 2018–202245
1.6STAKEHOLDERS45
1.7SUMMARY OF CHANGES46
2RESEARCH METHODOLOGY47
2.1RESEARCH DATA47
FIGURE 1BLOCKCHAIN MARKET: RESEARCH DESIGN47
2.1.1SECONDARY DATA48
2.1.2PRIMARY DATA48
2.1.2.1Breakup of primary profiles49
2.1.2.2Key industry insights49
2.2DATA TRIANGULATION50
FIGURE 2RESEARCH FLOW51
2.3MARKET SIZE ESTIMATION51
2.3.1REVENUE ESTIMATES52
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF PLATFORMS/SERVICES OF BLOCKCHAIN VENDORS (SUPPLY SIDE)52
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS53
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY—TOP-DOWN APPROACH (DEMAND SIDE): SHARE OF BLOCKCHAIN IN OVERALL INFORMATION TECHNOLOGY MARKET53
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY—TOP-DOWN APPROACH: DEMAND-SIDE ANALYSIS54
2.4MARKET FORECAST55
TABLE 2FACTOR ANALYSIS55
2.5IMPACT OF RECESSION AND RESEARCH ASSUMPTIONS56
2.5.1IMPACT OF RECESSION56
2.5.2RESEARCH ASSUMPTIONS57
2.6LIMITATIONS OF STUDY58
3EXECUTIVE SUMMARY59
FIGURE 7EVOLUTION: BLOCKCHAIN MARKET60
TABLE 3BLOCKCHAIN MARKET SIZE AND GROWTH, 2018–2021 (USD MILLION, Y-O-Y %)62
TABLE 4BLOCKCHAIN MARKET SIZE AND GROWTH, 2022–2027 (USD MILLION, Y-O-Y %)62
FIGURE 8GLOBAL BLOCKCHAIN MARKET TO WITNESS SIGNIFICANT GROWTH DURING FORECAST PERIOD62
FIGURE 9FASTEST-GROWING SEGMENTS OF BLOCKCHAIN MARKET64
FIGURE 10NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 202265
4PREMIUM INSIGHTS66
4.1OVERVIEW OF BLOCKCHAIN MARKET66
FIGURE 11HIGH INVESTMENTS BY ENTERPRISES AND GOVERNMENT INITIATIVES TO DRIVE BLOCKCHAIN MARKET66
4.2BLOCKCHAIN MARKET, BY COMPONENT66
FIGURE 12PLATFORMS SEGMENT ACCOUNTED FOR DOMINANT SHARE IN 202266
4.3BLOCKCHAIN MARKET, BY PROVIDER67
FIGURE 13APPLICATION PROVIDERS SEGMENT ACCOUNTED FOR LARGEST SHARE IN 202267
4.4BLOCKCHAIN MARKET, BY TYPE67
FIGURE 14PRIVATE BLOCKCHAIN SEGMENT REGISTERED LARGEST MARKET SHARE IN 202267
4.5BLOCKCHAIN MARKET, BY ORGANIZATION SIZE68
FIGURE 15LARGE ENTERPRISES WITNESSED HIGHER USE OF BLOCKCHAIN IN 202268
4.6BLOCKCHAIN MARKET, BY APPLICATION68
FIGURE 16BANKING & FINANCIAL SERVICES TO LEAD BLOCKCHAIN MARKET DURING FORECAST PERIOD68
4.7MARKET INVESTMENT SCENARIO69
FIGURE 17ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS69
5MARKET OVERVIEW AND INDUSTRY TRENDS70
5.1INTRODUCTION70
5.2MARKET DYNAMICS70
FIGURE 18DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN BLOCKCHAIN MARKET70
5.2.1DRIVERS71
5.2.1.1Increasing venture capital funding and investments in blockchain technology71
FIGURE 19BLOCKCHAIN INVESTMENTS, 2018–2022 (USD BILLION)71
FIGURE 20MONTH-WISE BLOCKCHAIN INVESTMENTS, 2022 (USD BILLION)72
FIGURE 21SECTOR-WISE BLOCKCHAIN DEAL COUNT, 202272
5.2.1.2Growing demand in retail, SCM, and banking applications for secure and transparent transactions72
5.2.1.3Simplification of processes, along with transparency, security, and immutability73
5.2.1.4High adoption of blockchain solutions for payments, smart contracts, and digital identities74
5.2.1.5Lower operational costs74
5.2.2RESTRAINTS74
5.2.2.1Uncertain regulatory and compliance environment74
5.2.2.2High costs of implementing blockchain technology75
5.2.3OPPORTUNITIES75
5.2.3.1Increasing government initiatives to boost demand for blockchain platforms and services75
5.2.3.2Amalgamation of blockchain, IoT, and AI76
5.2.3.3Rising demand for real-time data analysis, enhanced visibility, and proactive maintenance77
5.2.3.4Potential of blockchain technology in novel industries77
5.2.3.4.1Blockchain gaming77
5.2.3.4.2Seafood tracking77
5.2.3.4.3Trucking77
TABLE 5APPLICATIONS OF BLOCKCHAIN78
5.2.4CHALLENGES80
5.2.4.1Security, privacy, and control of blockchain transactions80
5.2.4.2Limited availability of technical skillsets to implement blockchain technology81
5.2.4.3Opposition from incumbents81
5.3REGULATIONS IMPLEMENTED FOR BLOCKCHAIN TECHNOLOGY82
TABLE 6BLOCKCHAIN REGULATORY BODIES AND REGULATIONS82
TABLE 7BLOCKCHAIN REGULATIONS/ASSOCIATIONS AND DESCRIPTION82
5.4STEPS IN IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY85
FIGURE 22IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY IN ANY ORGANIZATION85
5.5COMPARISON BETWEEN CENTRALIZED/PERMISSIONED VERSUS DECENTRALIZED/PERMISSIONLESS BLOCKCHAIN86
TABLE 8PERMISSIONLESS BLOCKCHAIN VERSUS PERMISSIONED BLOCKCHAIN86
TABLE 9BLOCKCHAIN TYPOLOGY87
FIGURE 23BLOCKCHAIN TYPOLOGY87
FIGURE 24TYPES OF BLOCKCHAIN88
5.5.1TYPES OF BLOCKCHAIN TECHNOLOGY88
5.5.1.1Private blockchain88
5.5.1.2Public blockchain89
5.5.1.3Permissioned/Hybrid blockchain89
5.6ECOSYSTEM89
FIGURE 25BLOCKCHAIN PROVIDER ECOSYSTEM90
5.6.1ROLE IN ECOSYSTEM90
TABLE 10BLOCKCHAIN MARKET ECOSYSTEM90
5.7VALUE CHAIN ANALYSIS91
FIGURE 26VALUE CHAIN92
5.7.1COMPONENT/HARDWARE SUPPLIERS92
5.7.2PLANNING AND DESIGN92
5.7.3INFRASTRUCTURE AND DEPLOYMENT92
5.7.4SOLUTION AND SERVICE PROVIDERS93
5.7.5SYSTEM INTEGRATORS93
5.7.6SALES AND DISTRIBUTION CHANNELS93
5.7.7END USERS93
5.8PATENT ANALYSIS93
FIGURE 27PATENT ANALYSIS94
5.9AVERAGE SELLING PRICE/PRICING MODEL OF BLOCKCHAIN PLAYERS94
FIGURE 28COST PERCENTAGE FOR PHASES OF DEVELOPMENT OF BLOCKCHAIN MARKET95
FIGURE 29AVERAGE SELLING PRICE MODEL OF BLOCKCHAIN MARKET95
5.10TECHNOLOGY ANALYSIS96
5.10.1BLOCKCHAIN AND INTERNET OF THINGS96
5.10.2BLOCKCHAIN AND CLOUD96
5.10.3BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE96
TABLE 11BLOCKCHAIN AI APPLICATIONS97
5.10.4BIG DATA ANALYTICS97
5.11USE CASES98
5.11.1SMART DUBAI INITIATIVE USES BLOCKCHAIN TECHNOLOGY FOR SMART TRANSFORMATION98
5.11.2ID2020 PARTNERSHIP98
5.11.3BLOCKCHAIN PROJECT FOR SUPPLY CHAIN AND INVENTORY MANAGEMENT99
5.11.4ADOPTION OF BLOCKCHAIN TECHNOLOGY ESOLUTIONS BY ESTONIAN GOVERNMENT99
5.11.5USE OF BLOCKCHAIN FOR SMART CONTRACTS99
5.11.6IBM PARTNERED WITH WALMART (US) TO TRACK PORK IN CHINA AND MANGOES IN US TO ENSURE FOOD SAFETY100
5.11.7BLOCKCHAIN FOR KNOW YOUR CUSTOMER COMPLIANCE IN RETAIL100
5.11.8BLOCKCHAIN TECHNOLOGY FOR AUTOMATED CUSTOMER SERVICES101
5.11.9BLOCKCHAIN PROJECT FOR SUPPLY CHAIN AND INVENTORY MANAGEMENT101
5.11.10USE CASE 1: TO LEVERAGE INNOVATIVE TECHNOLOGIES SUCH AS BLOCKCHAIN, AI, AND IOT TO TRANSFORM SUPPLY CHAIN OPERATIONS IN HEALTHCARE INDUSTRY101
5.11.11USE CASE 2: TO REDUCE WASTAGE OF FOOD BY IMPROVING FOOD SAFETY AND TRACEABILITY, AND HELP ONLINE AND OFFLINE CONSUMERS GLOBALLY102
5.11.12USE CASE 3: BLOCKCHAIN HELPS RCS GLOBAL TRACE RESPONSIBLY PRODUCED RAW MATERIALS102
5.11.13USE CASE 4: CARREFOUR SA JOINED IBM’S BLOCKCHAIN-BASED FOOD TRUST NETWORK103
5.11.14USE CASE 5: VIRGIN DIAMOND USED NETOBJEX’S DIGITAL TWIN PLATFORM103
5.11.15USE CASE 6: CURRY & COMPANY TEAMED WITH INTEL’S INTEGRATED BLOCKCHAIN-BASED IOT SOLUTION TO TRACK PERISHABLE GOODS104
5.11.16USE CASE 7: BUMBLE BEE SEAFOODS COLLABORATED WITH SAP TO TRACE A FISH SUPPLY CHAIN IN INDONESIAN VILLAGE104
5.11.17USE CASE 8: GROUP OF BANKS LEVERAGED IBM’S BLOCKCHAIN PLATFORM FOR EASE IN MAKING GLOBAL PAYMENTS105
5.11.18USE CASE 9: SAUDI CUSTOMS USED BLOCKCHAIN TECHNOLOGY FOR PILOT SHIPMENT106
5.11.19USE CASE 10: ICICI BANK AND EMIRATES NBD PARTNERED WITH EDGEVERVE FINACLE TO PILOT FIRST BLOCKCHAIN-BASED NETWORK106
5.11.20USE CASE 11: ARAB JORDAN INVESTMENT BANK (AJIB) LEVERAGES ORACLE BLOCKCHAIN PLATFORM FOR CROSS-BORDER MONEY TRANSFERS107
5.12TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES107
FIGURE 30TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES107
5.13BLOCKCHAIN ASSOCIATIONS AND CONSORTIUMS108
5.13.1ENTERPRISE ETHEREUM ALLIANCE108
5.13.2HYPERLEDGER CONSORTIUM109
5.13.3GLOBAL BLOCKCHAIN BUSINESS COUNCIL109
5.13.4BLOCKCHAIN COLLABORATIVE CONSORTIUM109
5.13.5R3CEV BLOCKCHAIN CONSORTIUM109
5.13.6CONTINUOUS LINKED SETTLEMENT GROUP109
5.13.7GLOBAL PAYMENTS STEERING GROUP110
5.13.8FINANCIAL BLOCKCHAIN SHENZHEN CONSORTIUM110
5.13.9CU LEDGER110
5.13.10WALL STREET BLOCKCHAIN ALLIANCE110
5.13.11OTHER ASSOCIATIONS110
5.14PORTER’S FIVE FORCES ANALYSIS111
FIGURE 31PORTER’S FIVE FORCES ANALYSIS: BLOCKCHAIN MARKET111
TABLE 12PORTER’S FIVE FORCES ANALYSIS: BLOCKCHAIN MARKET112
5.14.1THREAT OF NEW ENTRANTS112
5.14.2THREAT OF SUBSTITUTES112
5.14.3BARGAINING POWER OF SUPPLIERS113
5.14.4BARGAINING POWER OF BUYERS113
5.14.5INTENSITY OF COMPETITIVE RIVALRY114
5.15KEY CONFERENCES AND EVENTS IN 2023–2024114
TABLE 13LIST OF CONFERENCES AND EVENTS, 2023–2024114
6BLOCKCHAIN LAYERS115
6.1INTRODUCTION115
TABLE 14BLOCKCHAIN LAYERS116
6.2LAYER 0116
6.3LAYER 1116
6.4LAYER 2116
6.5LAYER 3118
7BLOCKCHAIN MARKET, BY COMPONENT119
7.1INTRODUCTION120
FIGURE 32BLOCKCHAIN SERVICES SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD120
TABLE 15BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)120
TABLE 16BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)121
7.2PLATFORMS121
7.2.1ENABLE ENTERPRISES TO BUILD BLOCKCHAIN-BASED APPLICATIONS121
7.2.2PLATFORMS: BLOCKCHAIN MARKET DRIVERS122
TABLE 17PLATFORMS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)122
TABLE 18PLATFORMS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)123
7.3SERVICES123
7.3.1SERVICES ENSURE SEAMLESS DEPLOYMENT AND MAINTENANCE OF BLOCKCHAIN TECHNOLOGY AMONG BUSINESSES123
7.3.2SERVICES: BLOCKCHAIN MARKET DRIVERS123
FIGURE 33DEVELOPMENT & INTEGRATION SERVICES SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD124
TABLE 19SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)124
TABLE 20SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)124
TABLE 21BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)125
TABLE 22BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)125
7.3.3TECHNOLOGY ADVISORY & CONSULTING SERVICES125
TABLE 23TECHNOLOGY ADVISORY & CONSULTING SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)125
TABLE 24TECHNOLOGY ADVISORY & CONSULTING SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)126
7.3.4DEVELOPMENT & INTEGRATION SERVICES126
TABLE 25DEVELOPMENT & INTEGRATION SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)126
TABLE 26DEVELOPMENT & INTEGRATION SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)127
7.3.5SUPPORT & MAINTENANCE127
TABLE 27SUPPORT & MAINTENANCE: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)127
TABLE 28SUPPORT & MAINTENANCE: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)128
8BLOCKCHAIN MARKET, BY PROVIDER129
8.1INTRODUCTION130
FIGURE 34APPLICATION PROVIDERS SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD130
TABLE 29BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)130
TABLE 30BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)130
8.2APPLICATION PROVIDERS131
8.2.1BLOCKCHAIN PLATFORM AIDS BUSINESSES TO BUILD AND RUN APPLICATIONS EASILY AND QUICKLY131
8.2.2APPLICATION PROVIDERS: BLOCKCHAIN MARKET DRIVERS131
TABLE 31APPLICATION PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)131
TABLE 32APPLICATION PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)132
8.3INFRASTRUCTURE PROVIDERS132
8.3.1HELP MANAGE BACKEND OPERATIONS OF BLOCKCHAIN APPLICATION FOR BUSINESSES132
8.3.2INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET DRIVERS132
TABLE 33INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)133
TABLE 34INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)133
8.4MIDDLEWARE PROVIDERS133
8.4.1BLOCKCHAIN MIDDLEWARE ENSURES DEVELOPERS BUILD APPLICATIONS AND INTERFACES FASTER133
8.4.2MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET DRIVERS134
TABLE 35MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)134
TABLE 36MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)134
9BLOCKCHAIN MARKET, BY TYPE135
9.1INTRODUCTION136
FIGURE 35HYBRID SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD136
TABLE 37BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)136
TABLE 38BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)137
9.2PUBLIC137
9.2.1FREE FOR ALL TO JOIN AND PARTICIPATE IN CORE ACTIVITIES OF BLOCKCHAIN NETWORK137
9.2.2PUBLIC: BLOCKCHAIN MARKET DRIVERS137
TABLE 39PUBLIC: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)138
TABLE 40PUBLIC: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)138
9.3PRIVATE138
9.3.1ALLOWS ONLY SELECTED AND VERIFIED PARTICIPANTS TO JOIN BLOCKCHAIN NETWORK138
9.3.2PRIVATE: BLOCKCHAIN MARKET DRIVERS139
TABLE 41PRIVATE: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)139
TABLE 42PRIVATE: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)140
9.4HYBRID140
9.4.1BLEND OF ESSENTIAL FEATURES OF BOTH PUBLIC BLOCKCHAIN AND PRIVATE BLOCKCHAIN TO MAKE TRANSACTIONS MORE SECURE140
9.4.2HYBRID: BLOCKCHAIN MARKET DRIVERS140
TABLE 43HYBRID: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)141
TABLE 44HYBRID: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)141
10BLOCKCHAIN MARKET, BY ORGANIZATION SIZE142
10.1INTRODUCTION143
FIGURE 36SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD143
TABLE 45BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)143
TABLE 46BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)144
10.2SMALL AND MEDIUM-SIZED ENTERPRISES144
10.2.1HELP ACCELERATE GROWTH AND DEVELOPMENT OF SMALL BUSINESSES144
10.2.2SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET DRIVERS144
TABLE 47SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)145
TABLE 48SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)145
10.3LARGE ENTERPRISES145
10.3.1DEPLOY BLOCKCHAIN FOR GREATER TRUST AND TRACEABILITY145
10.3.2LARGE ENTERPRISES: BLOCKCHAIN MARKET DRIVERS146
TABLE 49LARGE ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)146
TABLE 50LARGE ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)146
11BLOCKCHAIN MARKET, BY APPLICATION147
11.1INTRODUCTION148
FIGURE 37RETAIL & ECOMMERCE APPLICATION TO REGISTER HIGHEST CAGR148
TABLE 51BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)149
TABLE 52BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)149
11.2TRANSPORTATION & LOGISTICS150
11.2.1INCREASED EFFICIENCY ACROSS MOVEMENT OF RAW MATERIAL AND INVENTORY MANAGEMENT USING MOBILITY SOLUTIONS150
11.2.2TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET DRIVERS151
TABLE 53TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)151
TABLE 54TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)151
11.2.3APPLICATIONS IN TRANSPORTATION & LOGISTICS152
TABLE 55BLOCKCHAIN MARKET IN TRANSPORTATION & LOGISTICS, BY SUB-APPLICATION, 2018–2021 (USD MILLION)152
TABLE 56BLOCKCHAIN MARKET IN TRANSPORTATION & LOGISTICS, BY SUB-APPLICATION, 2022–2027 (USD MILLION)152
11.2.3.1Smart contracts153
11.2.3.2Financing153
11.2.3.3Mobility solutions153
11.2.3.4Other transportation & logistics applications154
11.3AGRICULTURE & FOOD154
11.3.1BOOST TO SUSTAINABLE FOOD ECOSYSTEM AND FOOD CERTIFICATION154
11.3.2AGRICULTURE & FOOD: BLOCKCHAIN MARKET DRIVERS155
TABLE 57AGRICULTURE & FOOD: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)155
TABLE 58AGRICULTURE & FOOD: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)155
11.3.3APPLICATIONS IN AGRICULTURE & FOOD156
TABLE 59BLOCKCHAIN MARKET IN AGRICULTURE & FOOD, BY SUB-APPLICATION, 2018–2021 (USD MILLION)156
TABLE 60BLOCKCHAIN MARKET IN AGRICULTURE & FOOD, BY SUB-APPLICATION, 2022–2027 (USD MILLION)156
11.3.3.1Product traceability, tracking & visibility156
11.3.3.2Payment & settlement157
11.3.3.3Smart contracts157
11.3.3.4Improved quality control & food safety157
11.4MANUFACTURING157
11.4.1USE OF SMART TAGS AND RFID SENSORS, ALONG WITH BLOCKCHAIN TECHNOLOGY, ENSURES TRACEABILITY IN MANUFACTURING INDUSTRY157
11.4.2MANUFACTURING: BLOCKCHAIN MARKET DRIVERS158
TABLE 61MANUFACTURING: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)158
TABLE 62MANUFACTURING: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)158
11.4.3APPLICATIONS IN MANUFACTURING159
TABLE 63BLOCKCHAIN MARKET IN MANUFACTURING, BY SUB-APPLICATION, 2018–2021 (USD MILLION)159
TABLE 64BLOCKCHAIN MARKET IN MANUFACTURING, BY SUB-APPLICATION, 2022–2027 (USD MILLION)159
11.4.3.1Predictive maintenance160
11.4.3.2Asset tracking & management160
11.4.3.3Business process optimization160
11.4.3.4Logistics & supply chain management161
11.4.3.5Quality control & compliance161
11.4.3.6Other manufacturing applications161
11.5ENERGY & UTILITIES162
11.5.1POWER GRID SUPPLY AND CRITICAL INFRASTRUCTURE MANAGEMENT TO GAIN TRACTION USING BLOCKCHAIN TECHNOLOGY162
11.5.2ENERGY & UTILITIES: BLOCKCHAIN MARKET DRIVERS162
TABLE 65ENERGY & UTILITIES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)163
TABLE 66ENERGY & UTILITIES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)163
11.5.3APPLICATIONS IN ENERGY & UTILITIES163
TABLE 67BLOCKCHAIN MARKET IN ENERGY & UTILITIES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)164
TABLE 68BLOCKCHAIN MARKET IN ENERGY & UTILITIES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)164
11.5.3.1Grid management164
11.5.3.2Energy trading165
11.5.3.3GRC management165
11.5.3.4Payment schemes165
11.5.3.5Supply chain management165
11.5.3.6Other energy & utility applications166
11.6HEALTHCARE & LIFE SCIENCES166
11.6.1NEED TO SECURE CRITICAL PATIENT DATA ACROSS NODES TO BOOST SEGMENT GROWTH166
11.6.2HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET DRIVERS166
TABLE 69HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)167
TABLE 70HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)167
11.6.3APPLICATIONS IN HEALTHCARE & LIFE SCIENCES167
TABLE 71BLOCKCHAIN MARKET IN HEALTHCARE & LIFE SCIENCES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)168
TABLE 72BLOCKCHAIN MARKET IN HEALTHCARE & LIFE SCIENCES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)168
11.6.3.1Clinical data exchange & interoperability168
11.6.3.2Supply chain management169
11.6.3.3Claims adjudication & billing management169
11.6.3.4Other healthcare & life science applications170
11.7MEDIA, ADVERTISING & ENTERTAINMENT170
11.7.1TRACTION ACROSS DIGITAL ADVERTISING APPLICATIONS USING BLOCKCHAIN-BASED SMART CONTRACTS170
11.7.2MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET DRIVERS171
TABLE 73MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)171
TABLE 74MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)172
11.7.3APPLICATIONS IN MEDIA, ADVERTISING & ENTERTAINMENT172
TABLE 75BLOCKCHAIN MARKET IN MEDIA, ADVERTISING & ENTERTAINMENT, BY SUB-APPLICATION, 2018–2021 (USD MILLION)172
TABLE 76BLOCKCHAIN MARKET IN MEDIA, ADVERTISING & ENTERTAINMENT, BY SUB-APPLICATION, 2022–2027 (USD MILLION)173
11.7.3.1Licensing & rights management173
11.7.3.2Digital advertising173
11.7.3.3Smart contracts173
11.7.3.4Content security174
11.7.3.5Online gaming174
11.7.3.6Payments174
11.7.3.7Other media, advertising & entertainment applications174
11.8BANKING & FINANCIAL SERVICES175
11.8.1RISING DEMAND FOR DECENTRALIZED BANKING PLATFORMS TO DRIVE MARKET175
11.8.2BANKING & FINANCIAL SERVICES: BLOCKCHAIN MARKET DRIVERS175
TABLE 77BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY REGION, 2018–2021 (USD MILLION)176
TABLE 78BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY REGION, 2022–2027 (USD MILLION)176
11.8.3APPLICATIONS IN BANKING & FINANCIAL SERVICES176
TABLE 79BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)177
TABLE 80BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)177
11.8.3.1Payments, clearing & settlement177
11.8.3.2Exchanges & remittance178
11.8.3.3Smart contracts178
11.8.3.4Identity management179
11.8.3.5Compliance management/KYC179
11.8.3.6Other banking & financial service applications179
11.9INSURANCE180
11.9.1AUTOMATION ACROSS INSURANCE AND RISK MANAGEMENT TO BOOST SALES180
11.9.2INSURANCE: BLOCKCHAIN MARKET DRIVERS180
TABLE 81BLOCKCHAIN MARKET IN INSURANCE, BY REGION, 2018–2021 (USD MILLION)181
TABLE 82BLOCKCHAIN MARKET IN INSURANCE, BY REGION, 2022–2027 (USD MILLION)181
11.9.3APPLICATIONS IN INSURANCE181
TABLE 83BLOCKCHAIN MARKET IN INSURANCE, BY SUB-APPLICATION, 2018–2021 (USD MILLION)182
TABLE 84BLOCKCHAIN MARKET IN INSURANCE, BY SUB-APPLICATION, 2022–2027 (USD MILLION)182
11.9.3.1GRC management182
11.9.3.2Death & claims management183
11.9.3.3Payments183
11.9.3.4Identity management & fraud detection183
11.9.3.5Smart contracts184
11.9.3.6Other insurance applications184
11.10IT & TELECOM184
11.10.1URGE TO PROTECT SENSITIVE TELECOM DATA TO FUEL SEGMENT GROWTH184
11.10.2IT & TELECOM: BLOCKCHAIN MARKET DRIVERS185
TABLE 85BLOCKCHAIN MARKET IN IT & TELECOM, BY REGION, 2018–2021 (USD MILLION)185
TABLE 86BLOCKCHAIN MARKET IN IT & TELECOM, BY REGION, 2022–2027 (USD MILLION)185
11.10.3APPLICATIONS IN IT & TELECOM186
TABLE 87BLOCKCHAIN MARKET IN IT & TELECOM, BY SUB-APPLICATION, 2018–2021 (USD MILLION)186
TABLE 88BLOCKCHAIN MARKET IN IT & TELECOM, BY SUB-APPLICATION, 2022–2027 (USD MILLION)186
11.10.3.1OSS/BSS processes187
11.10.3.2Identity management187
11.10.3.3Payments188
11.10.3.4Smart contracts188
11.10.3.5Connectivity provisioning188
11.10.3.6Other IT & telecom applications188
11.11RETAIL & ECOMMERCE189
11.11.1AUTOMATION ACROSS RETAIL CHANNELS FOR CURBING DATA THEFT TO PROPEL GROWTH189
11.11.2RETAIL & ECOMMERCE: BLOCKCHAIN MARKET DRIVERS189
TABLE 89BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY REGION, 2018–2021 (USD MILLION)190
TABLE 90BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY REGION, 2022–2027 (USD MILLION)190
11.11.3APPLICATIONS IN RETAIL & ECOMMERCE190
TABLE 91BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY SUB-APPLICATION, 2018–2021 (USD MILLION)191
TABLE 92BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY SUB-APPLICATION, 2022–2027 (USD MILLION)191
11.11.3.1Compliance management191
11.11.3.2Identity management192
11.11.3.3Loyalty & rewards management192
11.11.3.4Payments192
11.11.3.5Smart contracts192
11.11.3.6Supply chain management193
11.11.3.7Other retail & eCommerce applications193
11.12GOVERNMENT194
11.12.1RISE IN CONCERNS ABOUT IDENTITY THEFT AND BUSINESS FRAUD TO DRIVE SEGMENT GROWTH194
11.12.2GOVERNMENT: BLOCKCHAIN MARKET DRIVERS194
TABLE 93BLOCKCHAIN MARKET IN GOVERNMENT, BY REGION, 2018–2021 (USD MILLION)195
TABLE 94BLOCKCHAIN MARKET IN GOVERNMENT, BY REGION, 2022–2027 (USD MILLION)195
11.12.3APPLICATIONS IN GOVERNMENT195
TABLE 95BLOCKCHAIN MARKET IN GOVERNMENT, BY SUB-APPLICATION, 2018–2021 (USD MILLION)196
TABLE 96BLOCKCHAIN MARKET IN GOVERNMENT, BY SUB-APPLICATION, 2022–2027 (USD MILLION)196
11.12.3.1Asset registry196
11.12.3.2Identity management197
11.12.3.3Payments197
11.12.3.4Smart contracts197
11.12.3.5Voting198
11.13REAL ESTATE & CONSTRUCTION198
11.13.1TENANCY AGREEMENTS CREATED USING SMART CONTRACTS TO EASE PROCESS OF TRANSACTIONS BETWEEN BOTH PARTIES198
11.13.2REAL ESTATE & CONSTRUCTION: BLOCKCHAIN MARKET DRIVERS199
TABLE 97BLOCKCHAIN MARKET IN REAL ESTATE & CONSTRUCTION, BY REGION, 2018–2021 (USD MILLION)199
TABLE 98BLOCKCHAIN MARKET IN REAL ESTATE & CONSTRUCTION, BY REGION, 2022–2027 (USD MILLION)199
11.13.3APPLICATIONS IN REAL ESTATE & CONSTRUCTION200
11.13.3.1Tokenization & asset management200
11.13.3.2Smart contracts200
11.13.3.3Other real estate & construction applications201
11.14OTHER APPLICATION AREAS201
TABLE 99BLOCKCHAIN MARKET IN OTHER APPLICATION AREAS, BY REGION, 2018–2021 (USD MILLION)202
TABLE 100BLOCKCHAIN MARKET IN OTHER APPLICATION AREAS, BY REGION, 2022–2027 (USD MILLION)202
12BLOCKCHAIN MARKET, BY REGION203
12.1INTRODUCTION204
FIGURE 38NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD204
TABLE 101BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)204
TABLE 102BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)205
12.2NORTH AMERICA205
12.2.1NORTH AMERICA: BLOCKCHAIN MARKET DRIVERS205
12.2.2NORTH AMERICA: IMPACT OF RECESSION206
12.2.3NORTH AMERICA: REGULATORY LANDSCAPE206
FIGURE 39NORTH AMERICA: BLOCKCHAIN MARKET SNAPSHOT207
TABLE 103NORTH AMERICA: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)207
TABLE 104NORTH AMERICA: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)208
TABLE 105NORTH AMERICA: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)208
TABLE 106NORTH AMERICA: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)208
TABLE 107NORTH AMERICA: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)208
TABLE 108NORTH AMERICA: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)209
TABLE 109NORTH AMERICA: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)209
TABLE 110NORTH AMERICA: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)209
TABLE 111NORTH AMERICA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)209
TABLE 112NORTH AMERICA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)210
TABLE 113NORTH AMERICA: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)210
TABLE 114NORTH AMERICA: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)211
TABLE 115NORTH AMERICA: BLOCKCHAIN MARKET, BY COUNTRY, 2018–2021 (USD MILLION)211
TABLE 116NORTH AMERICA: BLOCKCHAIN MARKET, BY COUNTRY, 2022–2027 (USD MILLION)211
12.2.4US212
12.2.4.1Blockchain technology adopted by US federal government to streamline and modernize processes212
TABLE 117US: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)212
TABLE 118US: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)212
TABLE 119US: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)213
TABLE 120US: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)213
TABLE 121US: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)213
TABLE 122US: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)213
TABLE 123US: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)214
TABLE 124US: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)214
TABLE 125US: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)214
TABLE 126US: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)214
TABLE 127US: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)215
TABLE 128US: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)215
12.2.5CANADA216
12.2.5.1Growth in digital technologies and internet to drive blockchain adoption216
TABLE 129CANADA: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)216
TABLE 130CANADA: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)216
TABLE 131CANADA: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)217
TABLE 132CANADA: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)217
TABLE 133CANADA: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)217
TABLE 134CANADA: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)217
TABLE 135CANADA: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)218
TABLE 136CANADA: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)218
TABLE 137CANADA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)218
TABLE 138CANADA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)218
TABLE 139CANADA: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)219
TABLE 140CANADA: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)219
12.3EUROPE220
12.3.1EUROPE: BLOCKCHAIN MARKET DRIVERS220
12.3.2EUROPE: IMPACT OF RECESSION221
12.3.3EUROPE: REGULATORY LANDSCAPE221
TABLE 141EUROPE: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)221
TABLE 142EUROPE: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)221
TABLE 143EUROPE: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)222
TABLE 144EUROPE: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)222
TABLE 145EUROPE: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)222
TABLE 146EUROPE: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)222
TABLE 147EUROPE: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)223
TABLE 148EUROPE: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)223
TABLE 149EUROPE: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)223
TABLE 150EUROPE: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)223
TABLE 151EUROPE: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)224
TABLE 152EUROPE: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)224
TABLE 153EUROPE: BLOCKCHAIN MARKET, BY COUNTRY, 2018–2021 (USD MILLION)225
TABLE 154EUROPE: BLOCKCHAIN MARKET, BY COUNTRY, 2022–2027 (USD MILLION)225
12.3.4UK225
12.3.4.1UK government using blockchain for risk management and secure financial transactions225
TABLE 155UK: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)226
TABLE 156UK: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)226
TABLE 157UK: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)226
TABLE 158UK: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)227
TABLE 159UK: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)227
TABLE 160UK: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)227
TABLE 161UK: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)227
TABLE 162UK: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)228
TABLE 163UK: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)228
TABLE 164UK: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)228
TABLE 165UK: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)229
TABLE 166UK: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)229
12.3.5GERMANY230
12.3.5.1Government and local communities paving way for development of blockchain ecosystem230
TABLE 167GERMANY: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)230
TABLE 168GERMANY: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)231
TABLE 169GERMANY: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)231
TABLE 170GERMANY: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)231
TABLE 171GERMANY: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)231
TABLE 172GERMANY: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)232
TABLE 173GERMANY: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)232
TABLE 174GERMANY: BLOCKCHAIN MARKET, BY TYPE,
By services, Development and integration service to account for highest market share during forecast period
Development and integration service providers provide tailored blockchain development services and enterprise-class integration services for blockchain platforms and protocols. The service providers deliver cross-industry blockchain development services to streamline enterprise business operations with improved interoperability, enhanced security, and transparency. Blockchain development services fast-track peer-to-peer transactions. These providers use distributed ledger technologies and popular blockchain frameworks such as Ethereum, Hyperledger, Stellar, IOTA, Steem, Ripple, and Multichain.
By provider, application providers to grow at highest CAGR during forecast period
A blockchain platform enables end users to build applications on a distributed network. Application providers are third-party entities that distribute and manage blockchain solutions for customers across applications. The blockchain technology is a shared, decentralized ledger, which is distributed across a business network that permanently records business transactions. Companies such as AWS, Oracle, IBM, Intel, Huawei, Accenture, Wipro, and Infosys are some of the vendors operating in the global blockchain market. For instance, IBM’s blockchain platform helps speed up the process of universal cross-border payments.
The blockchain solution provides businesses and consumers with an enhanced payment system that reduces the settlement time and lowers the cost of completing global payments. Another example is Huawei Cloud's Blockchain Service (BCS) that is a secure blockchain platform enabling enterprises and developers to conveniently create, deploy, and manage applications with Huawei Cloud.
Blockchain applications are becoming more and more desirable, but they can be challenging to set up for smaller businesses with limited IT resources. A combination of a managed platform with professional assistance can aid small organizations quickly deploy blockchain. For example, the SAP Cloud Platform Blockchain Service – SAP’s major offering in blockchain technology – is a blockchain-as-a-service (BaaS) offering which provides an easy and low risk approach to create blockchain-based applications in the cloud.
Breakdown of primary participants:
•By Company Type: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
•By Designation: C-Level Executives = 40%, Managerial and Other levels = 60%
•By Region: North America = 38%, Asia Pacific = 26%, Europe = 21%, Middle East & Africa = 10%, Latin America= 5%
Major vendors in the global blockchain market include IBM (US), AWS (US), Oracle (US), Huawei (China), Accenture (Ireland), Wipro (India), Infosys (India), TCS (India), SAP (Germany), Intel (US), ConsenSys (US), NTT DATA (Japan), Bitfury (Netherlands), Guardtime (Estonia), Chain (Saint Kitts and Nevis), VMware (US), SpinSys (US), LeewayHertz (US), R3 (US), Cegeka (Netherlands), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (US), Blockpoint (US), Auxesis Group (India), Blockchain Foundry (Canada), Factom (US), Stratis (UK), Dragonchain (US).
The study includes an in-depth competitive analysis of the key players in the blockchain market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the blockchain by component, provider, type, organization size, application and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall blockchain market and the subsegments. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
1INTRODUCTION40
1.1STUDY OBJECTIVES40
1.2MARKET DEFINITION40
1.2.1INCLUSIONS AND EXCLUSIONS41
1.3MARKET SCOPE42
1.3.1MARKET SEGMENTATION42
1.3.2BLOCKCHAIN MARKET SEGMENTATION, BY APPLICATION43
1.3.3REGIONS COVERED44
1.4YEARS CONSIDERED44
1.5CURRENCY CONSIDERED45
TABLE 1USD EXCHANGE RATES, 2018–202245
1.6STAKEHOLDERS45
1.7SUMMARY OF CHANGES46
2RESEARCH METHODOLOGY47
2.1RESEARCH DATA47
FIGURE 1BLOCKCHAIN MARKET: RESEARCH DESIGN47
2.1.1SECONDARY DATA48
2.1.2PRIMARY DATA48
2.1.2.1Breakup of primary profiles49
2.1.2.2Key industry insights49
2.2DATA TRIANGULATION50
FIGURE 2RESEARCH FLOW51
2.3MARKET SIZE ESTIMATION51
2.3.1REVENUE ESTIMATES52
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF PLATFORMS/SERVICES OF BLOCKCHAIN VENDORS (SUPPLY SIDE)52
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS53
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY—TOP-DOWN APPROACH (DEMAND SIDE): SHARE OF BLOCKCHAIN IN OVERALL INFORMATION TECHNOLOGY MARKET53
FIGURE 6MARKET SIZE ESTIMATION METHODOLOGY—TOP-DOWN APPROACH: DEMAND-SIDE ANALYSIS54
2.4MARKET FORECAST55
TABLE 2FACTOR ANALYSIS55
2.5IMPACT OF RECESSION AND RESEARCH ASSUMPTIONS56
2.5.1IMPACT OF RECESSION56
2.5.2RESEARCH ASSUMPTIONS57
2.6LIMITATIONS OF STUDY58
3EXECUTIVE SUMMARY59
FIGURE 7EVOLUTION: BLOCKCHAIN MARKET60
TABLE 3BLOCKCHAIN MARKET SIZE AND GROWTH, 2018–2021 (USD MILLION, Y-O-Y %)62
TABLE 4BLOCKCHAIN MARKET SIZE AND GROWTH, 2022–2027 (USD MILLION, Y-O-Y %)62
FIGURE 8GLOBAL BLOCKCHAIN MARKET TO WITNESS SIGNIFICANT GROWTH DURING FORECAST PERIOD62
FIGURE 9FASTEST-GROWING SEGMENTS OF BLOCKCHAIN MARKET64
FIGURE 10NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 202265
4PREMIUM INSIGHTS66
4.1OVERVIEW OF BLOCKCHAIN MARKET66
FIGURE 11HIGH INVESTMENTS BY ENTERPRISES AND GOVERNMENT INITIATIVES TO DRIVE BLOCKCHAIN MARKET66
4.2BLOCKCHAIN MARKET, BY COMPONENT66
FIGURE 12PLATFORMS SEGMENT ACCOUNTED FOR DOMINANT SHARE IN 202266
4.3BLOCKCHAIN MARKET, BY PROVIDER67
FIGURE 13APPLICATION PROVIDERS SEGMENT ACCOUNTED FOR LARGEST SHARE IN 202267
4.4BLOCKCHAIN MARKET, BY TYPE67
FIGURE 14PRIVATE BLOCKCHAIN SEGMENT REGISTERED LARGEST MARKET SHARE IN 202267
4.5BLOCKCHAIN MARKET, BY ORGANIZATION SIZE68
FIGURE 15LARGE ENTERPRISES WITNESSED HIGHER USE OF BLOCKCHAIN IN 202268
4.6BLOCKCHAIN MARKET, BY APPLICATION68
FIGURE 16BANKING & FINANCIAL SERVICES TO LEAD BLOCKCHAIN MARKET DURING FORECAST PERIOD68
4.7MARKET INVESTMENT SCENARIO69
FIGURE 17ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS69
5MARKET OVERVIEW AND INDUSTRY TRENDS70
5.1INTRODUCTION70
5.2MARKET DYNAMICS70
FIGURE 18DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN BLOCKCHAIN MARKET70
5.2.1DRIVERS71
5.2.1.1Increasing venture capital funding and investments in blockchain technology71
FIGURE 19BLOCKCHAIN INVESTMENTS, 2018–2022 (USD BILLION)71
FIGURE 20MONTH-WISE BLOCKCHAIN INVESTMENTS, 2022 (USD BILLION)72
FIGURE 21SECTOR-WISE BLOCKCHAIN DEAL COUNT, 202272
5.2.1.2Growing demand in retail, SCM, and banking applications for secure and transparent transactions72
5.2.1.3Simplification of processes, along with transparency, security, and immutability73
5.2.1.4High adoption of blockchain solutions for payments, smart contracts, and digital identities74
5.2.1.5Lower operational costs74
5.2.2RESTRAINTS74
5.2.2.1Uncertain regulatory and compliance environment74
5.2.2.2High costs of implementing blockchain technology75
5.2.3OPPORTUNITIES75
5.2.3.1Increasing government initiatives to boost demand for blockchain platforms and services75
5.2.3.2Amalgamation of blockchain, IoT, and AI76
5.2.3.3Rising demand for real-time data analysis, enhanced visibility, and proactive maintenance77
5.2.3.4Potential of blockchain technology in novel industries77
5.2.3.4.1Blockchain gaming77
5.2.3.4.2Seafood tracking77
5.2.3.4.3Trucking77
TABLE 5APPLICATIONS OF BLOCKCHAIN78
5.2.4CHALLENGES80
5.2.4.1Security, privacy, and control of blockchain transactions80
5.2.4.2Limited availability of technical skillsets to implement blockchain technology81
5.2.4.3Opposition from incumbents81
5.3REGULATIONS IMPLEMENTED FOR BLOCKCHAIN TECHNOLOGY82
TABLE 6BLOCKCHAIN REGULATORY BODIES AND REGULATIONS82
TABLE 7BLOCKCHAIN REGULATIONS/ASSOCIATIONS AND DESCRIPTION82
5.4STEPS IN IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY85
FIGURE 22IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY IN ANY ORGANIZATION85
5.5COMPARISON BETWEEN CENTRALIZED/PERMISSIONED VERSUS DECENTRALIZED/PERMISSIONLESS BLOCKCHAIN86
TABLE 8PERMISSIONLESS BLOCKCHAIN VERSUS PERMISSIONED BLOCKCHAIN86
TABLE 9BLOCKCHAIN TYPOLOGY87
FIGURE 23BLOCKCHAIN TYPOLOGY87
FIGURE 24TYPES OF BLOCKCHAIN88
5.5.1TYPES OF BLOCKCHAIN TECHNOLOGY88
5.5.1.1Private blockchain88
5.5.1.2Public blockchain89
5.5.1.3Permissioned/Hybrid blockchain89
5.6ECOSYSTEM89
FIGURE 25BLOCKCHAIN PROVIDER ECOSYSTEM90
5.6.1ROLE IN ECOSYSTEM90
TABLE 10BLOCKCHAIN MARKET ECOSYSTEM90
5.7VALUE CHAIN ANALYSIS91
FIGURE 26VALUE CHAIN92
5.7.1COMPONENT/HARDWARE SUPPLIERS92
5.7.2PLANNING AND DESIGN92
5.7.3INFRASTRUCTURE AND DEPLOYMENT92
5.7.4SOLUTION AND SERVICE PROVIDERS93
5.7.5SYSTEM INTEGRATORS93
5.7.6SALES AND DISTRIBUTION CHANNELS93
5.7.7END USERS93
5.8PATENT ANALYSIS93
FIGURE 27PATENT ANALYSIS94
5.9AVERAGE SELLING PRICE/PRICING MODEL OF BLOCKCHAIN PLAYERS94
FIGURE 28COST PERCENTAGE FOR PHASES OF DEVELOPMENT OF BLOCKCHAIN MARKET95
FIGURE 29AVERAGE SELLING PRICE MODEL OF BLOCKCHAIN MARKET95
5.10TECHNOLOGY ANALYSIS96
5.10.1BLOCKCHAIN AND INTERNET OF THINGS96
5.10.2BLOCKCHAIN AND CLOUD96
5.10.3BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE96
TABLE 11BLOCKCHAIN AI APPLICATIONS97
5.10.4BIG DATA ANALYTICS97
5.11USE CASES98
5.11.1SMART DUBAI INITIATIVE USES BLOCKCHAIN TECHNOLOGY FOR SMART TRANSFORMATION98
5.11.2ID2020 PARTNERSHIP98
5.11.3BLOCKCHAIN PROJECT FOR SUPPLY CHAIN AND INVENTORY MANAGEMENT99
5.11.4ADOPTION OF BLOCKCHAIN TECHNOLOGY ESOLUTIONS BY ESTONIAN GOVERNMENT99
5.11.5USE OF BLOCKCHAIN FOR SMART CONTRACTS99
5.11.6IBM PARTNERED WITH WALMART (US) TO TRACK PORK IN CHINA AND MANGOES IN US TO ENSURE FOOD SAFETY100
5.11.7BLOCKCHAIN FOR KNOW YOUR CUSTOMER COMPLIANCE IN RETAIL100
5.11.8BLOCKCHAIN TECHNOLOGY FOR AUTOMATED CUSTOMER SERVICES101
5.11.9BLOCKCHAIN PROJECT FOR SUPPLY CHAIN AND INVENTORY MANAGEMENT101
5.11.10USE CASE 1: TO LEVERAGE INNOVATIVE TECHNOLOGIES SUCH AS BLOCKCHAIN, AI, AND IOT TO TRANSFORM SUPPLY CHAIN OPERATIONS IN HEALTHCARE INDUSTRY101
5.11.11USE CASE 2: TO REDUCE WASTAGE OF FOOD BY IMPROVING FOOD SAFETY AND TRACEABILITY, AND HELP ONLINE AND OFFLINE CONSUMERS GLOBALLY102
5.11.12USE CASE 3: BLOCKCHAIN HELPS RCS GLOBAL TRACE RESPONSIBLY PRODUCED RAW MATERIALS102
5.11.13USE CASE 4: CARREFOUR SA JOINED IBM’S BLOCKCHAIN-BASED FOOD TRUST NETWORK103
5.11.14USE CASE 5: VIRGIN DIAMOND USED NETOBJEX’S DIGITAL TWIN PLATFORM103
5.11.15USE CASE 6: CURRY & COMPANY TEAMED WITH INTEL’S INTEGRATED BLOCKCHAIN-BASED IOT SOLUTION TO TRACK PERISHABLE GOODS104
5.11.16USE CASE 7: BUMBLE BEE SEAFOODS COLLABORATED WITH SAP TO TRACE A FISH SUPPLY CHAIN IN INDONESIAN VILLAGE104
5.11.17USE CASE 8: GROUP OF BANKS LEVERAGED IBM’S BLOCKCHAIN PLATFORM FOR EASE IN MAKING GLOBAL PAYMENTS105
5.11.18USE CASE 9: SAUDI CUSTOMS USED BLOCKCHAIN TECHNOLOGY FOR PILOT SHIPMENT106
5.11.19USE CASE 10: ICICI BANK AND EMIRATES NBD PARTNERED WITH EDGEVERVE FINACLE TO PILOT FIRST BLOCKCHAIN-BASED NETWORK106
5.11.20USE CASE 11: ARAB JORDAN INVESTMENT BANK (AJIB) LEVERAGES ORACLE BLOCKCHAIN PLATFORM FOR CROSS-BORDER MONEY TRANSFERS107
5.12TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES107
FIGURE 30TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES107
5.13BLOCKCHAIN ASSOCIATIONS AND CONSORTIUMS108
5.13.1ENTERPRISE ETHEREUM ALLIANCE108
5.13.2HYPERLEDGER CONSORTIUM109
5.13.3GLOBAL BLOCKCHAIN BUSINESS COUNCIL109
5.13.4BLOCKCHAIN COLLABORATIVE CONSORTIUM109
5.13.5R3CEV BLOCKCHAIN CONSORTIUM109
5.13.6CONTINUOUS LINKED SETTLEMENT GROUP109
5.13.7GLOBAL PAYMENTS STEERING GROUP110
5.13.8FINANCIAL BLOCKCHAIN SHENZHEN CONSORTIUM110
5.13.9CU LEDGER110
5.13.10WALL STREET BLOCKCHAIN ALLIANCE110
5.13.11OTHER ASSOCIATIONS110
5.14PORTER’S FIVE FORCES ANALYSIS111
FIGURE 31PORTER’S FIVE FORCES ANALYSIS: BLOCKCHAIN MARKET111
TABLE 12PORTER’S FIVE FORCES ANALYSIS: BLOCKCHAIN MARKET112
5.14.1THREAT OF NEW ENTRANTS112
5.14.2THREAT OF SUBSTITUTES112
5.14.3BARGAINING POWER OF SUPPLIERS113
5.14.4BARGAINING POWER OF BUYERS113
5.14.5INTENSITY OF COMPETITIVE RIVALRY114
5.15KEY CONFERENCES AND EVENTS IN 2023–2024114
TABLE 13LIST OF CONFERENCES AND EVENTS, 2023–2024114
6BLOCKCHAIN LAYERS115
6.1INTRODUCTION115
TABLE 14BLOCKCHAIN LAYERS116
6.2LAYER 0116
6.3LAYER 1116
6.4LAYER 2116
6.5LAYER 3118
7BLOCKCHAIN MARKET, BY COMPONENT119
7.1INTRODUCTION120
FIGURE 32BLOCKCHAIN SERVICES SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD120
TABLE 15BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)120
TABLE 16BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)121
7.2PLATFORMS121
7.2.1ENABLE ENTERPRISES TO BUILD BLOCKCHAIN-BASED APPLICATIONS121
7.2.2PLATFORMS: BLOCKCHAIN MARKET DRIVERS122
TABLE 17PLATFORMS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)122
TABLE 18PLATFORMS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)123
7.3SERVICES123
7.3.1SERVICES ENSURE SEAMLESS DEPLOYMENT AND MAINTENANCE OF BLOCKCHAIN TECHNOLOGY AMONG BUSINESSES123
7.3.2SERVICES: BLOCKCHAIN MARKET DRIVERS123
FIGURE 33DEVELOPMENT & INTEGRATION SERVICES SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD124
TABLE 19SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)124
TABLE 20SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)124
TABLE 21BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)125
TABLE 22BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)125
7.3.3TECHNOLOGY ADVISORY & CONSULTING SERVICES125
TABLE 23TECHNOLOGY ADVISORY & CONSULTING SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)125
TABLE 24TECHNOLOGY ADVISORY & CONSULTING SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)126
7.3.4DEVELOPMENT & INTEGRATION SERVICES126
TABLE 25DEVELOPMENT & INTEGRATION SERVICES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)126
TABLE 26DEVELOPMENT & INTEGRATION SERVICES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)127
7.3.5SUPPORT & MAINTENANCE127
TABLE 27SUPPORT & MAINTENANCE: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)127
TABLE 28SUPPORT & MAINTENANCE: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)128
8BLOCKCHAIN MARKET, BY PROVIDER129
8.1INTRODUCTION130
FIGURE 34APPLICATION PROVIDERS SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD130
TABLE 29BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)130
TABLE 30BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)130
8.2APPLICATION PROVIDERS131
8.2.1BLOCKCHAIN PLATFORM AIDS BUSINESSES TO BUILD AND RUN APPLICATIONS EASILY AND QUICKLY131
8.2.2APPLICATION PROVIDERS: BLOCKCHAIN MARKET DRIVERS131
TABLE 31APPLICATION PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)131
TABLE 32APPLICATION PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)132
8.3INFRASTRUCTURE PROVIDERS132
8.3.1HELP MANAGE BACKEND OPERATIONS OF BLOCKCHAIN APPLICATION FOR BUSINESSES132
8.3.2INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET DRIVERS132
TABLE 33INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)133
TABLE 34INFRASTRUCTURE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)133
8.4MIDDLEWARE PROVIDERS133
8.4.1BLOCKCHAIN MIDDLEWARE ENSURES DEVELOPERS BUILD APPLICATIONS AND INTERFACES FASTER133
8.4.2MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET DRIVERS134
TABLE 35MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)134
TABLE 36MIDDLEWARE PROVIDERS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)134
9BLOCKCHAIN MARKET, BY TYPE135
9.1INTRODUCTION136
FIGURE 35HYBRID SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD136
TABLE 37BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)136
TABLE 38BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)137
9.2PUBLIC137
9.2.1FREE FOR ALL TO JOIN AND PARTICIPATE IN CORE ACTIVITIES OF BLOCKCHAIN NETWORK137
9.2.2PUBLIC: BLOCKCHAIN MARKET DRIVERS137
TABLE 39PUBLIC: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)138
TABLE 40PUBLIC: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)138
9.3PRIVATE138
9.3.1ALLOWS ONLY SELECTED AND VERIFIED PARTICIPANTS TO JOIN BLOCKCHAIN NETWORK138
9.3.2PRIVATE: BLOCKCHAIN MARKET DRIVERS139
TABLE 41PRIVATE: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)139
TABLE 42PRIVATE: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)140
9.4HYBRID140
9.4.1BLEND OF ESSENTIAL FEATURES OF BOTH PUBLIC BLOCKCHAIN AND PRIVATE BLOCKCHAIN TO MAKE TRANSACTIONS MORE SECURE140
9.4.2HYBRID: BLOCKCHAIN MARKET DRIVERS140
TABLE 43HYBRID: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)141
TABLE 44HYBRID: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)141
10BLOCKCHAIN MARKET, BY ORGANIZATION SIZE142
10.1INTRODUCTION143
FIGURE 36SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD143
TABLE 45BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)143
TABLE 46BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)144
10.2SMALL AND MEDIUM-SIZED ENTERPRISES144
10.2.1HELP ACCELERATE GROWTH AND DEVELOPMENT OF SMALL BUSINESSES144
10.2.2SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET DRIVERS144
TABLE 47SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)145
TABLE 48SMALL AND MEDIUM-SIZED ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)145
10.3LARGE ENTERPRISES145
10.3.1DEPLOY BLOCKCHAIN FOR GREATER TRUST AND TRACEABILITY145
10.3.2LARGE ENTERPRISES: BLOCKCHAIN MARKET DRIVERS146
TABLE 49LARGE ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)146
TABLE 50LARGE ENTERPRISES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)146
11BLOCKCHAIN MARKET, BY APPLICATION147
11.1INTRODUCTION148
FIGURE 37RETAIL & ECOMMERCE APPLICATION TO REGISTER HIGHEST CAGR148
TABLE 51BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)149
TABLE 52BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)149
11.2TRANSPORTATION & LOGISTICS150
11.2.1INCREASED EFFICIENCY ACROSS MOVEMENT OF RAW MATERIAL AND INVENTORY MANAGEMENT USING MOBILITY SOLUTIONS150
11.2.2TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET DRIVERS151
TABLE 53TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)151
TABLE 54TRANSPORTATION & LOGISTICS: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)151
11.2.3APPLICATIONS IN TRANSPORTATION & LOGISTICS152
TABLE 55BLOCKCHAIN MARKET IN TRANSPORTATION & LOGISTICS, BY SUB-APPLICATION, 2018–2021 (USD MILLION)152
TABLE 56BLOCKCHAIN MARKET IN TRANSPORTATION & LOGISTICS, BY SUB-APPLICATION, 2022–2027 (USD MILLION)152
11.2.3.1Smart contracts153
11.2.3.2Financing153
11.2.3.3Mobility solutions153
11.2.3.4Other transportation & logistics applications154
11.3AGRICULTURE & FOOD154
11.3.1BOOST TO SUSTAINABLE FOOD ECOSYSTEM AND FOOD CERTIFICATION154
11.3.2AGRICULTURE & FOOD: BLOCKCHAIN MARKET DRIVERS155
TABLE 57AGRICULTURE & FOOD: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)155
TABLE 58AGRICULTURE & FOOD: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)155
11.3.3APPLICATIONS IN AGRICULTURE & FOOD156
TABLE 59BLOCKCHAIN MARKET IN AGRICULTURE & FOOD, BY SUB-APPLICATION, 2018–2021 (USD MILLION)156
TABLE 60BLOCKCHAIN MARKET IN AGRICULTURE & FOOD, BY SUB-APPLICATION, 2022–2027 (USD MILLION)156
11.3.3.1Product traceability, tracking & visibility156
11.3.3.2Payment & settlement157
11.3.3.3Smart contracts157
11.3.3.4Improved quality control & food safety157
11.4MANUFACTURING157
11.4.1USE OF SMART TAGS AND RFID SENSORS, ALONG WITH BLOCKCHAIN TECHNOLOGY, ENSURES TRACEABILITY IN MANUFACTURING INDUSTRY157
11.4.2MANUFACTURING: BLOCKCHAIN MARKET DRIVERS158
TABLE 61MANUFACTURING: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)158
TABLE 62MANUFACTURING: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)158
11.4.3APPLICATIONS IN MANUFACTURING159
TABLE 63BLOCKCHAIN MARKET IN MANUFACTURING, BY SUB-APPLICATION, 2018–2021 (USD MILLION)159
TABLE 64BLOCKCHAIN MARKET IN MANUFACTURING, BY SUB-APPLICATION, 2022–2027 (USD MILLION)159
11.4.3.1Predictive maintenance160
11.4.3.2Asset tracking & management160
11.4.3.3Business process optimization160
11.4.3.4Logistics & supply chain management161
11.4.3.5Quality control & compliance161
11.4.3.6Other manufacturing applications161
11.5ENERGY & UTILITIES162
11.5.1POWER GRID SUPPLY AND CRITICAL INFRASTRUCTURE MANAGEMENT TO GAIN TRACTION USING BLOCKCHAIN TECHNOLOGY162
11.5.2ENERGY & UTILITIES: BLOCKCHAIN MARKET DRIVERS162
TABLE 65ENERGY & UTILITIES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)163
TABLE 66ENERGY & UTILITIES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)163
11.5.3APPLICATIONS IN ENERGY & UTILITIES163
TABLE 67BLOCKCHAIN MARKET IN ENERGY & UTILITIES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)164
TABLE 68BLOCKCHAIN MARKET IN ENERGY & UTILITIES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)164
11.5.3.1Grid management164
11.5.3.2Energy trading165
11.5.3.3GRC management165
11.5.3.4Payment schemes165
11.5.3.5Supply chain management165
11.5.3.6Other energy & utility applications166
11.6HEALTHCARE & LIFE SCIENCES166
11.6.1NEED TO SECURE CRITICAL PATIENT DATA ACROSS NODES TO BOOST SEGMENT GROWTH166
11.6.2HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET DRIVERS166
TABLE 69HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)167
TABLE 70HEALTHCARE & LIFE SCIENCES: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)167
11.6.3APPLICATIONS IN HEALTHCARE & LIFE SCIENCES167
TABLE 71BLOCKCHAIN MARKET IN HEALTHCARE & LIFE SCIENCES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)168
TABLE 72BLOCKCHAIN MARKET IN HEALTHCARE & LIFE SCIENCES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)168
11.6.3.1Clinical data exchange & interoperability168
11.6.3.2Supply chain management169
11.6.3.3Claims adjudication & billing management169
11.6.3.4Other healthcare & life science applications170
11.7MEDIA, ADVERTISING & ENTERTAINMENT170
11.7.1TRACTION ACROSS DIGITAL ADVERTISING APPLICATIONS USING BLOCKCHAIN-BASED SMART CONTRACTS170
11.7.2MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET DRIVERS171
TABLE 73MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)171
TABLE 74MEDIA, ADVERTISING & ENTERTAINMENT: BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)172
11.7.3APPLICATIONS IN MEDIA, ADVERTISING & ENTERTAINMENT172
TABLE 75BLOCKCHAIN MARKET IN MEDIA, ADVERTISING & ENTERTAINMENT, BY SUB-APPLICATION, 2018–2021 (USD MILLION)172
TABLE 76BLOCKCHAIN MARKET IN MEDIA, ADVERTISING & ENTERTAINMENT, BY SUB-APPLICATION, 2022–2027 (USD MILLION)173
11.7.3.1Licensing & rights management173
11.7.3.2Digital advertising173
11.7.3.3Smart contracts173
11.7.3.4Content security174
11.7.3.5Online gaming174
11.7.3.6Payments174
11.7.3.7Other media, advertising & entertainment applications174
11.8BANKING & FINANCIAL SERVICES175
11.8.1RISING DEMAND FOR DECENTRALIZED BANKING PLATFORMS TO DRIVE MARKET175
11.8.2BANKING & FINANCIAL SERVICES: BLOCKCHAIN MARKET DRIVERS175
TABLE 77BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY REGION, 2018–2021 (USD MILLION)176
TABLE 78BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY REGION, 2022–2027 (USD MILLION)176
11.8.3APPLICATIONS IN BANKING & FINANCIAL SERVICES176
TABLE 79BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY SUB-APPLICATION, 2018–2021 (USD MILLION)177
TABLE 80BLOCKCHAIN MARKET IN BANKING & FINANCIAL SERVICES, BY SUB-APPLICATION, 2022–2027 (USD MILLION)177
11.8.3.1Payments, clearing & settlement177
11.8.3.2Exchanges & remittance178
11.8.3.3Smart contracts178
11.8.3.4Identity management179
11.8.3.5Compliance management/KYC179
11.8.3.6Other banking & financial service applications179
11.9INSURANCE180
11.9.1AUTOMATION ACROSS INSURANCE AND RISK MANAGEMENT TO BOOST SALES180
11.9.2INSURANCE: BLOCKCHAIN MARKET DRIVERS180
TABLE 81BLOCKCHAIN MARKET IN INSURANCE, BY REGION, 2018–2021 (USD MILLION)181
TABLE 82BLOCKCHAIN MARKET IN INSURANCE, BY REGION, 2022–2027 (USD MILLION)181
11.9.3APPLICATIONS IN INSURANCE181
TABLE 83BLOCKCHAIN MARKET IN INSURANCE, BY SUB-APPLICATION, 2018–2021 (USD MILLION)182
TABLE 84BLOCKCHAIN MARKET IN INSURANCE, BY SUB-APPLICATION, 2022–2027 (USD MILLION)182
11.9.3.1GRC management182
11.9.3.2Death & claims management183
11.9.3.3Payments183
11.9.3.4Identity management & fraud detection183
11.9.3.5Smart contracts184
11.9.3.6Other insurance applications184
11.10IT & TELECOM184
11.10.1URGE TO PROTECT SENSITIVE TELECOM DATA TO FUEL SEGMENT GROWTH184
11.10.2IT & TELECOM: BLOCKCHAIN MARKET DRIVERS185
TABLE 85BLOCKCHAIN MARKET IN IT & TELECOM, BY REGION, 2018–2021 (USD MILLION)185
TABLE 86BLOCKCHAIN MARKET IN IT & TELECOM, BY REGION, 2022–2027 (USD MILLION)185
11.10.3APPLICATIONS IN IT & TELECOM186
TABLE 87BLOCKCHAIN MARKET IN IT & TELECOM, BY SUB-APPLICATION, 2018–2021 (USD MILLION)186
TABLE 88BLOCKCHAIN MARKET IN IT & TELECOM, BY SUB-APPLICATION, 2022–2027 (USD MILLION)186
11.10.3.1OSS/BSS processes187
11.10.3.2Identity management187
11.10.3.3Payments188
11.10.3.4Smart contracts188
11.10.3.5Connectivity provisioning188
11.10.3.6Other IT & telecom applications188
11.11RETAIL & ECOMMERCE189
11.11.1AUTOMATION ACROSS RETAIL CHANNELS FOR CURBING DATA THEFT TO PROPEL GROWTH189
11.11.2RETAIL & ECOMMERCE: BLOCKCHAIN MARKET DRIVERS189
TABLE 89BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY REGION, 2018–2021 (USD MILLION)190
TABLE 90BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY REGION, 2022–2027 (USD MILLION)190
11.11.3APPLICATIONS IN RETAIL & ECOMMERCE190
TABLE 91BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY SUB-APPLICATION, 2018–2021 (USD MILLION)191
TABLE 92BLOCKCHAIN MARKET IN RETAIL & ECOMMERCE, BY SUB-APPLICATION, 2022–2027 (USD MILLION)191
11.11.3.1Compliance management191
11.11.3.2Identity management192
11.11.3.3Loyalty & rewards management192
11.11.3.4Payments192
11.11.3.5Smart contracts192
11.11.3.6Supply chain management193
11.11.3.7Other retail & eCommerce applications193
11.12GOVERNMENT194
11.12.1RISE IN CONCERNS ABOUT IDENTITY THEFT AND BUSINESS FRAUD TO DRIVE SEGMENT GROWTH194
11.12.2GOVERNMENT: BLOCKCHAIN MARKET DRIVERS194
TABLE 93BLOCKCHAIN MARKET IN GOVERNMENT, BY REGION, 2018–2021 (USD MILLION)195
TABLE 94BLOCKCHAIN MARKET IN GOVERNMENT, BY REGION, 2022–2027 (USD MILLION)195
11.12.3APPLICATIONS IN GOVERNMENT195
TABLE 95BLOCKCHAIN MARKET IN GOVERNMENT, BY SUB-APPLICATION, 2018–2021 (USD MILLION)196
TABLE 96BLOCKCHAIN MARKET IN GOVERNMENT, BY SUB-APPLICATION, 2022–2027 (USD MILLION)196
11.12.3.1Asset registry196
11.12.3.2Identity management197
11.12.3.3Payments197
11.12.3.4Smart contracts197
11.12.3.5Voting198
11.13REAL ESTATE & CONSTRUCTION198
11.13.1TENANCY AGREEMENTS CREATED USING SMART CONTRACTS TO EASE PROCESS OF TRANSACTIONS BETWEEN BOTH PARTIES198
11.13.2REAL ESTATE & CONSTRUCTION: BLOCKCHAIN MARKET DRIVERS199
TABLE 97BLOCKCHAIN MARKET IN REAL ESTATE & CONSTRUCTION, BY REGION, 2018–2021 (USD MILLION)199
TABLE 98BLOCKCHAIN MARKET IN REAL ESTATE & CONSTRUCTION, BY REGION, 2022–2027 (USD MILLION)199
11.13.3APPLICATIONS IN REAL ESTATE & CONSTRUCTION200
11.13.3.1Tokenization & asset management200
11.13.3.2Smart contracts200
11.13.3.3Other real estate & construction applications201
11.14OTHER APPLICATION AREAS201
TABLE 99BLOCKCHAIN MARKET IN OTHER APPLICATION AREAS, BY REGION, 2018–2021 (USD MILLION)202
TABLE 100BLOCKCHAIN MARKET IN OTHER APPLICATION AREAS, BY REGION, 2022–2027 (USD MILLION)202
12BLOCKCHAIN MARKET, BY REGION203
12.1INTRODUCTION204
FIGURE 38NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD204
TABLE 101BLOCKCHAIN MARKET, BY REGION, 2018–2021 (USD MILLION)204
TABLE 102BLOCKCHAIN MARKET, BY REGION, 2022–2027 (USD MILLION)205
12.2NORTH AMERICA205
12.2.1NORTH AMERICA: BLOCKCHAIN MARKET DRIVERS205
12.2.2NORTH AMERICA: IMPACT OF RECESSION206
12.2.3NORTH AMERICA: REGULATORY LANDSCAPE206
FIGURE 39NORTH AMERICA: BLOCKCHAIN MARKET SNAPSHOT207
TABLE 103NORTH AMERICA: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)207
TABLE 104NORTH AMERICA: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)208
TABLE 105NORTH AMERICA: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)208
TABLE 106NORTH AMERICA: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)208
TABLE 107NORTH AMERICA: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)208
TABLE 108NORTH AMERICA: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)209
TABLE 109NORTH AMERICA: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)209
TABLE 110NORTH AMERICA: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)209
TABLE 111NORTH AMERICA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)209
TABLE 112NORTH AMERICA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)210
TABLE 113NORTH AMERICA: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)210
TABLE 114NORTH AMERICA: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)211
TABLE 115NORTH AMERICA: BLOCKCHAIN MARKET, BY COUNTRY, 2018–2021 (USD MILLION)211
TABLE 116NORTH AMERICA: BLOCKCHAIN MARKET, BY COUNTRY, 2022–2027 (USD MILLION)211
12.2.4US212
12.2.4.1Blockchain technology adopted by US federal government to streamline and modernize processes212
TABLE 117US: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)212
TABLE 118US: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)212
TABLE 119US: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)213
TABLE 120US: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)213
TABLE 121US: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)213
TABLE 122US: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)213
TABLE 123US: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)214
TABLE 124US: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)214
TABLE 125US: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)214
TABLE 126US: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)214
TABLE 127US: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)215
TABLE 128US: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)215
12.2.5CANADA216
12.2.5.1Growth in digital technologies and internet to drive blockchain adoption216
TABLE 129CANADA: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)216
TABLE 130CANADA: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)216
TABLE 131CANADA: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)217
TABLE 132CANADA: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)217
TABLE 133CANADA: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)217
TABLE 134CANADA: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)217
TABLE 135CANADA: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)218
TABLE 136CANADA: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)218
TABLE 137CANADA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)218
TABLE 138CANADA: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)218
TABLE 139CANADA: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)219
TABLE 140CANADA: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)219
12.3EUROPE220
12.3.1EUROPE: BLOCKCHAIN MARKET DRIVERS220
12.3.2EUROPE: IMPACT OF RECESSION221
12.3.3EUROPE: REGULATORY LANDSCAPE221
TABLE 141EUROPE: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)221
TABLE 142EUROPE: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)221
TABLE 143EUROPE: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)222
TABLE 144EUROPE: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)222
TABLE 145EUROPE: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)222
TABLE 146EUROPE: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)222
TABLE 147EUROPE: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)223
TABLE 148EUROPE: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)223
TABLE 149EUROPE: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)223
TABLE 150EUROPE: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)223
TABLE 151EUROPE: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)224
TABLE 152EUROPE: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)224
TABLE 153EUROPE: BLOCKCHAIN MARKET, BY COUNTRY, 2018–2021 (USD MILLION)225
TABLE 154EUROPE: BLOCKCHAIN MARKET, BY COUNTRY, 2022–2027 (USD MILLION)225
12.3.4UK225
12.3.4.1UK government using blockchain for risk management and secure financial transactions225
TABLE 155UK: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)226
TABLE 156UK: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)226
TABLE 157UK: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)226
TABLE 158UK: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)227
TABLE 159UK: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)227
TABLE 160UK: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)227
TABLE 161UK: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)227
TABLE 162UK: BLOCKCHAIN MARKET, BY TYPE, 2022–2027 (USD MILLION)228
TABLE 163UK: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)228
TABLE 164UK: BLOCKCHAIN MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)228
TABLE 165UK: BLOCKCHAIN MARKET, BY APPLICATION, 2018–2021 (USD MILLION)229
TABLE 166UK: BLOCKCHAIN MARKET, BY APPLICATION, 2022–2027 (USD MILLION)229
12.3.5GERMANY230
12.3.5.1Government and local communities paving way for development of blockchain ecosystem230
TABLE 167GERMANY: BLOCKCHAIN MARKET, BY COMPONENT, 2018–2021 (USD MILLION)230
TABLE 168GERMANY: BLOCKCHAIN MARKET, BY COMPONENT, 2022–2027 (USD MILLION)231
TABLE 169GERMANY: BLOCKCHAIN MARKET, BY SERVICES, 2018–2021 (USD MILLION)231
TABLE 170GERMANY: BLOCKCHAIN MARKET, BY SERVICES, 2022–2027 (USD MILLION)231
TABLE 171GERMANY: BLOCKCHAIN MARKET, BY PROVIDER, 2018–2021 (USD MILLION)231
TABLE 172GERMANY: BLOCKCHAIN MARKET, BY PROVIDER, 2022–2027 (USD MILLION)232
TABLE 173GERMANY: BLOCKCHAIN MARKET, BY TYPE, 2018–2021 (USD MILLION)232
TABLE 174GERMANY: BLOCKCHAIN MARKET, BY TYPE,
