DUBLIN--(BUSINESS WIRE)--The "Blockchain Market by Provider, Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, and GRC Management), Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global blockchain market size is expected to grow from USD 1.2 billion in 2018 to USD 23.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 80.2% during the forecast period.
Various factors, such as increasing venture capital funding and investments in the blockchain technology, a growing need to simplify business processes and create business transparency and immutability, reduction in operational cost, increasing popularity of blockchain technology in retail and supply chain management are expected to drive the market.
However, the uncertain regulatory and compliance environment and limited availability of technical skillsets for implementing the blockchain technology may restrain the blockchain market growth.
The retail and eCommerce industry vertical is expected to grow at the highest CAGR in the blockchain market by vertical during the forecast period.
The large enterprise's segment is expected to hold a larger market size in the blockchain market by organization size during the forecast period.
North America is estimated to hold the largest market size and dominate the global blockchain market in 2018, as the region is an early adopter of the blockchain technology. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.
Market Dynamics
Drivers
- Increasing Venture Capital Funding and Investments in Blockchain Technology
- Increasing Popularity of Blockchain Technology in Retail and Supply Chain Management
- Blockchain Technology Simplifies Business Processes and Creates Transparency and Immutability
- Blockchain Technology Reduces Operational Costs
Restraints
- Uncertain Regulatory and Compliance Environment
- Limited Availability of Technical Skillsets for Implementing the Blockchain Technology
Opportunities
- Increasing Number of Government Initiatives
- Extensive Use of Blockchain Solutions in IoT, Banking and Cybersecurity
- High Adoption of Blockchain Solutions for Payments, Smart Contracts and Digital Identities
- Increasing Demand for Real-Time Data Analysis, Enhanced Visibility and Proactive Maintenance
Challenges
- Security, Privacy and Control Issues
- Opposition From Incumbent Technologies
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Blockchain Market, By Provider
7 Blockchain Market, By Application
8 Blockchain Market, By Organization Size
9 Blockchain Market, By Industry Vertical
10 Blockchain Market, By Region
11 Competitive Landscape
12 Company Profiles
- Alphapoint
- Applied Blockchain
- Auxesis Group
- AWS
- Bigchaindb
- Bitfury
- Blockchain Foundry
- Blockcypher
- Blockpoint
- BTL Group
- Cegeka
- Chain
- Digital Asset Holdings
- Earthport
- Factom
- Guardtime
- Huawei
- IBM
- Intel
- Microsoft
- Oracle
- Recordskeeper
- SAP
- Spinsys
- Symbiont
For more information about this report visit https://www.researchandmarkets.com/research/zgncsk/the_global_market?w=4
