The global Blockchain Technology Market will be worth USD 111.58 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rising adoption of blockchain technology in supply chain management. Blockchain technology help in the flow of information through multiple nodes, and it also helps in back-tracking the origin of the products. The blockchain technology can efficiently handle the tracking of the raw materials and enhance the transparency of the supply system. The increased transparency of the supply chain provides more visibility to both consumers and businesses and reduces fraud for high-value goods such as pharmaceutical drugs and diamonds. The usage of blockchain technology reduces communication or transfer data errors as it provides all t parties involved in a supply chain with the same information. Thus blockchain technology helps in reducing cost or improving the quality of the products.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
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Some Key Highlights from the Report
- In November 2019, Coke One North America (CONA) acquired the blockchain technology of SAP. The acquisition was performed to streamline the supply chain processes between the 70 franchised bottling companies, and it also increased efficiency and transparency of the CONA's complex production line.
- The private segment held the largest market share of 46.6% in 2019, as it is more centralized in nature than the public blockchain. Moreover, private blockchain can process faster transactions and are also far more scalable.
- Small Medium enterprises are forecasted to grow with the fastest CAGR of 68.0% over the forecast period as more number of startups are adopting blockchain technology.
- The Infrastructure segment held the largest market share of the blockchain technology in 2019 due to the increasing demand for the blockchain protocol such as Openchain, Ethereum, BigChainDB, and Hyperledger.
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The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
- AWS
- INTEL
- IBM
- MICROSOFT
- HUAWEI
- SAP
- ORACLE
- DIGITAL ASSET HOLDINGS
- BLOCKCYPHER
- GUARDTIME
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Furthermore, the report divides the blockchain technology market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global Blockchain Technology Market on the basis of Type, Enterprise size, Provider, Application:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Private
- Public
- Hybrid
Enterprise size Outlook (Revenue, USD Billion; 2017-2027)
- Small Medium Enterprises
- Large Enterprises
Provider Outlook (Revenue, USD Billion; 2017-2027)
- Application
- Middleware
- Infrastructure
Application Outlook (Revenue, USD Billion; 2017-2027)
- Banking and Financial services
- Healthcare and Life sciences
- Transportation and Logistics
- Government
- Retail and eCommerce
- Others
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