The global blockchain distributed ledger market size reached US$ 3.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.6 Billion by 2027, exhibiting a growth rate (CAGR) of 31.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Blockchain distributed ledger refers to a decentralized database shared across a network spread over numerous geographical locations. It stores and records resources and transactions through a peer-to-peer network. The data is protected through cryptography, which gets locked in linked and secured blocks. The technology is majorly used for making payments, smart contracts, supply chain management, compliance management and trade finance. It aids in increasing the speed of data transfer and eliminates the need for a third party in the business processes and provides improved capital optimization and security measurement.
Blockchain Distributed Ledger Market Trends:
- Rapid digitization of the industries across the globe is one of the key factors creating a positive outlook for the market growth. Moreover, increasing demand for advanced technological solutions to minimize fraudulent activities, data theft and financial losses is providing a thrust to the growth of the market. Due to the onset of coronavirus (COVID-19) pandemic, organizations are increasingly adopting blockchain distributed ledgers to create, store and manage their data online. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), cloud computing and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. These innovative technologies aid in enhancing data security, preventing identity thefts and data tempering and minimizing unauthorized access to sensitive data of the users. Other factors, including significant improvements in the information technology (IT) infrastructure, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global blockchain distributed ledger market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, enterprise size, application and end use industry.
Breakup by Component:
Breakup by Type:
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Application:
- Smart Contracts
- Supply Chain Management
- Compliance Management
- Trade Finance
Breakup by End Use Industry:
- Government and Public Sector
- Retail and E-Commerce
- Media and Entertainment
- Transportation and Logistics
- Energy and Utilities
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture PLC, AlphaPoint, Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Services & Technologies Ltd., Digital Asset Holdings LLC, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, iXLedger, NTT DATA Corporation (The Nippon Telegraph and Telephone Corporation) and Visa Inc.
Key Questions Answered in This Report:
- How has the global blockchain distributed ledger market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global blockchain distributed ledger market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the enterprise size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global blockchain distributed ledger market and who are the key players?
- What is the degree of competition in the industry?