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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217247

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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217247

Blockchain Services Global Market Report 2023

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PAGES: 175 Pages
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“Blockchain Services Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on blockchain services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for blockchain services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blockchain services market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Tools; Services

2) By End-use: BFSI; IT & Telecom; Healthcare; Retail; Manufacturing; Logistics; Government; Media & Entertainment; Energy and Utilities; Other End-Uses

3) By Application: Payments; Smart Contracts; Supply Chain Management; Governance, Risk, and Compliance Management; Identity Management; Other Applications

Companies Mentioned: IBM Corporation; Amazon.com; Microsoft Corporation; Oracle Corporation; SAP

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the blockchain services market are: IBM Corporation, Amazon.com, Microsoft Corporation, Oracle Corporation, SAP, Stratis, Baidu, Inc., Huawei Technologies Co. Ltd., Accenture, Deloitte, Infosys, Hewlett-Packard Enterprise, Waves Platform, HPE, AWS, KPMG, ConsenSys, Cognizant, NTT Data, Capgemini, Wipro, Mphasis, PwC, TCS , TO THE NEW, EY, L&T Infotech, Alibaba, OpenXcell, lntinfotech and Ardor Nxt Group.

The global blockchain services market will grow from $3.28 billion in 2022 to $4.7 billion in 2023 at a compound annual growth rate (CAGR) of 43.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The blockchain services market is expected to grow to $19.76 billion in 2027 at a CAGR of 43.2%.

The blockchain services market includes revenues earned by entities by proving blockchain services for companies engaged in building blockchain applications. The blockchain technology is used to create digital contracts in domains such as financial, healthcare and insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Blockchain is a technology that involves the implementation of a distributed database that is accessible to all the users over a network. Each user can add a new data record (block), with a timestamp that cannot be altered. Each new block forms a part of the universally acceptable depository. The blockchain technology maintains the authentication of data by restricting changes in the older data blocks while allowing the users to continue adding new data blocks thus, making the manipulation of data such as faking documents or transactions and other information, impossible.

Asia Pacifica was the largest region in the blockchain services market in 2022. North America was the second largest region in the blockchain services market. The regions covered in the blockchain services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main component types of blockchain services are tools and services. The services are used for payments, smart contracts, supply chain management, governance, risk and compliance management, identity management, others by BFSI, IT and telecom, healthcare, retail, manufacturing, logistics, government, media and entertainment, energy and utilities and end use industries. Risk and compliance management is the practice of anticipating potential risks, analyzing them, and taking precautionary measures to reduce/curb the risk.

There is a growing significance of blockchain services with increased investments in blockchain technology from both government and private entities like banks and financial institutions. The blockchain technology gives rise to new business models in various areas such as cross-border payments, remittance, exchanges, internet banking, trade finance, Know Your Customers (KYC), and risk and compliance with decentralized applications of this technology. For instance, in July 2022, the Italian Ministry of Economic Development has stated that starting in September, some blockchain projects will be eligible to apply for up to $46 million in government subsidies. As part of the Italian government's objectives for investments in technology, research, and innovation, the fund will have an initial budget of 45 million euros, or roughly $46 million at the time of publication, for expenses and costs ranging from 500 thousand euros ($512,150) to 2 million euros ($2,048,600). The increased use of blockchain technology in organizations will require services to manage the networks and infrastructure, which will increase the demand for blockchain services and boost market growth.

The inefficiency of scalability in blockchain technology impedes the blockchain services market as it obstructs the processes involved. There is a partial dependence of the blockchain network's health over the number of nodes in the network and the spread of those nodes across the world. The bigger the blocks, the increase in the size of the blockchain is even faster which removes out the solo miners, and that eventually results in more pile-up of transactions. For instance, bitcoin scalability is an issue that resulted from the limited rate of processing of transactions that relates to an increase in the number of transactions and the limited size of blocks. According to Blockchain.com's mempool transaction count, the high number of unconfirmed transactions coincides with Bitcoin reaching new multi-month highs. Bitcoin surpassed a $13,745 threshold in October 2021, nearly matching its previous peak of $13,970 in June 2019 resulting in scaling issues due to a huge number of transactions. Thus, an increase in the number of transactions results in scalability issues, which hampers the growth of the blockchain services market.

Quantum computing is gaining popularity in the blockchain space that will help overcome the problems faced in providing blockchain services. Quantum computing is a process that uses quantum-mechanical phenomena like superposition and quantum entanglement for computing. Quantum computing utilizes qubits that help in the storage and processing of a large amount of data exponentially fast with less energy consumption, unlike conventional computers that use bits for the same process. For instance, in November 2022, International Business Machines Corporation, a US-based technology corporation unveiled Next-Generation IBM Quantum System Two with a 400 Qubit-Plus Quantum Processor. With more than triple the 127 qubits on the IBM Eagle processor, which was introduced in 2021, IBM Osprey has the most qubits of any IBM quantum processor. This processor has the ability to perform intricate quantum computations that are well beyond the capabilities of any classical computer.

In March 2020, Genesis Group, a cloud-based information technology services provider, announced plans to acquire Blockchain Consulting GmbH (BC) for an undisclosed amount. This acquisition will help Genesis Group to utilize BC's resources in crypto mining. BC provides services such as blockchain software development, strategic consulting, and crypto market analysis.

The countries covered in the blockchain services market are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The blockchain services market research report is one of a series of new reports from The Business Research Company that provides blockchain services market statistics, including blockchain services industry global market size, regional shares, competitors with a blockchain services market share, detailed blockchain services market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain services industry. This blockchain services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product Code: r2355

Table of Contents

1. Executive Summary

2. Blockchain Services Market Characteristics

3. Blockchain Services Market Trends And Strategies

4. Blockchain Services Market - Macro Economic Scenario

4.1 COVID-19 Impact On Blockchain Services Market

4.2 Ukraine-Russia War Impact On Blockchain Services Market

4.3 Impact Of High Inflation On Blockchain Services Market

5. Blockchain Services Market Size And Growth

  • 5.1. Global Blockchain Services Historic Market, 2017-2022, $ Billion
    • 5.1.1. Drivers Of The Market
    • 5.1.2. Restraints On The Market
  • 5.2. Global Blockchain Services Forecast Market, 2022-2027F, 2032F, $ Billion
    • 5.2.1. Drivers Of The Market
    • 5.2.2. Restraints On the Market

6. Blockchain Services Market Segmentation

  • 6.1. Global Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Tools
  • Services
  • 6.2. Global Blockchain Services Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • BFSI
  • IT & Telecom
  • Healthcare
  • Retail
  • Manufacturing
  • Logistics
  • Government
  • Media & Entertainment
  • Energy and Utilities
  • Other End-Uses
  • 6.3. Global Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Payments
  • Smart Contracts
  • Supply Chain Management
  • Governance, Risk, and Compliance Management
  • Identity Management
  • Other Applications

7. Blockchain Services Market Regional And Country Analysis

  • 7.1. Global Blockchain Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 7.2. Global Blockchain Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Blockchain Services Market

  • 8.1. Asia-Pacific Blockchain Services Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
  • 8.2. Asia-Pacific Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 8.3. Asia-Pacific Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Blockchain Services Market

  • 9.1. China Blockchain Services Market Overview
  • 9.2. China Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
  • 9.3. China Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Blockchain Services Market

  • 10.1. India Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 10.2. India Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Blockchain Services Market

  • 11.1. Japan Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 11.2. Japan Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Blockchain Services Market

  • 12.1. Australia Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 12.2. Australia Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Blockchain Services Market

  • 13.1. Indonesia Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 13.2. Indonesia Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Blockchain Services Market

  • 14.1. South Korea Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 14.2. South Korea Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Blockchain Services Market

  • 15.1. Western Europe Blockchain Services Market Overview
  • 15.2. Western Europe Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 15.3. Western Europe Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Blockchain Services Market

  • 16.1. UK Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 16.2. UK Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Blockchain Services Market

  • 17.1. Germany Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 17.2. Germany Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Blockchain Services Market

  • 18.1. France Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 18.2. France Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Blockchain Services Market

  • 19.1. Eastern Europe Blockchain Services Market Overview
  • 19.2. Eastern Europe Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 19.3. Eastern Europe Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Blockchain Services Market

  • 20.1. Russia Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 20.2. Russia Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Blockchain Services Market

  • 21.1. North America Blockchain Services Market Overview
  • 21.2. North America Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 21.3. North America Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Blockchain Services Market

  • 22.1. USA Blockchain Services Market Overview
  • 22.2. USA Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 22.3. USA Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Blockchain Services Market

  • 23.1. South America Blockchain Services Market Overview
  • 23.2. South America Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 23.3. South America Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Blockchain Services Market

  • 24.1. Brazil Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 24.2. Brazil Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Blockchain Services Market

  • 25.1. Middle East Blockchain Services Market Overview
  • 25.2. Middle East Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 25.3. Middle East Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Blockchain Services Market

  • 26.1. Africa Blockchain Services Market Overview
  • 26.2. Africa Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 26.3. Africa Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Blockchain Services Market Competitive Landscape And Company Profiles

  • 27.1. Blockchain Services Market Competitive Landscape
  • 27.2. Blockchain Services Market Company Profiles
    • 27.2.1. IBM Corporation
      • 27.2.1.1. Overview
      • 27.2.1.2. Products and Services
      • 27.2.1.3. Strategy
      • 27.2.1.4. Financial Performance
    • 27.2.2. Amazon
      • 27.2.2.1. Overview
      • 27.2.2.2. Products and Services
      • 27.2.2.3. Strategy
      • 27.2.2.4. Financial Performance
    • 27.2.3. Microsoft Corporation
      • 27.2.3.1. Overview
      • 27.2.3.2. Products and Services
      • 27.2.3.3. Strategy
      • 27.2.3.4. Financial Performance
    • 27.2.4. Oracle Corporation
      • 27.2.4.1. Overview
      • 27.2.4.2. Products and Services
      • 27.2.4.3. Strategy
      • 27.2.4.4. Financial Performance
    • 27.2.5. SAP
      • 27.2.5.1. Overview
      • 27.2.5.2. Products and Services
      • 27.2.5.3. Strategy
      • 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Blockchain Services Market

29. Blockchain Services Market Future Outlook and Potential Analysis

30. Appendix

  • 30.1. Abbreviations
  • 30.2. Currencies
  • 30.3. Historic And Forecast Inflation Rates
  • 30.4. Research Inquiries
  • 30.5. The Business Research Company
  • 30.6. Copyright And Disclaimer
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