Blockchain Technology Market by End-user and Geography - Forecast and Analysis 2021-2025
- Published: Jun 2021
- Pages: 120
- SKU: IRTNTR43773
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The blockchain technology market share is expected to increase by USD 6.25 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 32.39%.
This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (BFSI, government, healthcare, and others), and geography (North America, Europe, APAC, South America, and MEA). The blockchain technology market report also offers information on several market vendors, including Accenture Plc, Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and Tata Consultancy Services Ltd. among others.
What will the Blockchain Technology Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Blockchain Technology Market Size for the Forecast Period and Other Important Statistics
Blockchain Technology Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increase in fintech spending is notably driving the market growth, although factors such as network privacy and security concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blockchain technology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Blockchain Technology Market Driver
One of the key factors driving the market growth is the increase in fintech spending. FinTech is a service provided by companies and is based on software. Over the years, the purview of FinTech has extended to include new and innovative front-end consumer products. Many FinTech start-up companies provide solutions, which are operable through smartphones or tablets, directly to the customers through licensing or by means of white label services. The global investment in the FinTech sector increased tremendously by about 200% in a year's time. The maximum investments in FinTech were made in the US, particularly in Silicon Valley and New York, and in the UK. Companies in Europe are also trying to take advantage of the FinTech trend. The increase in global investment indicates that large corporates like JP Morgan, Morgan Stanley, Barclays, and Santander are changing their value chains and technologies to adopt FinTech. Payments and lending are the key segments in the financial services sector, where innovations were introduced in 2015. Digital disruption was also extended to the insurance and mortgage sector in 2015.
Key Blockchain Technology Market Trend
Another key factor driving the market growth is the growth of quantum computing. Quantum computing refers to the utilization of quantum-mechanical phenomena, such as superposition and quantum entanglement, for data processing and computation purposes. Unlike conventional computers that use bits for data processing, quantum computers utilize qubits that can store a considerably large amount of data and perform tasks exponentially fast using less energy. Though quantum computing is still in the development stage, it is considered an existential threat to public-key cryptography. Public key cryptography systems depend on the linking of a public key and a private key using a large prime number to encrypt the data. It is difficult for conventional computing systems to decrypt public encryption keys. However, with the increase in computational power due to the introduction of quantum computing, the existing public-key cryptography will become vulnerable.
Key Blockchain Technology Market Challenge
Network privacy and security concerns are one of the key challenges hindering market growth. Payment service providers gather personal data and information about the customers using cookies so that they can customize the advertising messages and thereby target the key audience. Using cookies, service providers can gather data on customer profiling, behavior, and data mining. The indiscriminate use of this data can infringe on a customer's privacy. Location-based services also come under the purview of privacy concerns as these kinds of offerings and services that are accessed by the customers require real-time location-based information. The data collected using smartphone devices are processed and stored by vendors and can be misused. As smartphones are used in monetary transactions in real-time, data theft can lead to financial losses for consumers. Consumers are reluctant to reveal their bank account details for online transactions because of security concerns. The possibility of unauthorized access to such data discourages users from adopting different FinTech platforms.
Parent Market Analysis
Technavio categorizes the global blockchain technology market as part of the global information technology spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Who are the Major Blockchain Technology Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Accenture Plc
- Amazon.com Inc.
- Huawei Investment & Holding Co. Ltd.
- Infosys Ltd.
- Intel Corp.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- Tata Consultancy Services Ltd.
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The blockchain technology market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Accenture Plc- The company offers consulting, technical, and operation services that help organizations to implement distributed ledger technology for BFSI and capital markets.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Blockchain Technology Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Blockchain Technology Market?
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43% of the market's growth will originate from North America during the forecast period. The US is the key market for blockchain technology market in North America. Market growth in this region will be faster than the growth of the market in regions.
The significant increase in the adoption of blockchain services by enterprises across industries in countries will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic severely impacted North American countries in 2020. It led to the temporary closure of various industries, such as manufacturing and automotive. However, the pandemic in the region brought opportunities for BT. For instance, IBM has invested more than $2 million in the research and development of BT, and more than 90% of the US banks have been researching blockchain options. Moreover, the demand for pharmaceutical supply in the region is another factor that has been fueling the demand for BT during the forecast period.
What are the Revenue-generating End-User Segments in the Blockchain Technology Market?
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The blockchain technology market share growth by the BSFI will be significant during the forecast period. BFSI sector, blockchain is being effectively used to reduce fraud, execute smart contracts, process payments, and in know-your-customer (KYC) due diligence. Most of the enterprises in this industry are trying to implement BT in the post-trade settlement, payments, reference data, and trade finance. Though there are several challenges faced by BT in the financing and banking industry, such as a lack of trust by officials in BT, an increase in efficiency stemming from operational and labor cost savings can have a significant impact on the BFSI industry in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.
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Blockchain Technology Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 32.39% |
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Market growth 2021-2025 |
$ 6247.27 million |
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Market structure |
Fragmented |
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YoY growth (%) |
19.00 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 43% |
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Key consumer countries |
US, China, UK, Canada, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Accenture Plc, Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and Tata Consultancy Services Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Blockchain Technology Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the blockchain technology market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the blockchain technology industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of blockchain technology market vendors
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2 Market Characteristics
Exhibit 02: Market Characteristics
2.3 Value chain analysis
Exhibit 03: IT Spending
2.3.1 Inputs
2.3.2 Software development
2.3.3 Marketing and distribution
2.3.4 Post-selling services
2.3.5 Innovation
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
Market condition - Five forces 2020
5. Market Segmentation by End-user
The segments covered in this chapter are:
- BFSI
- Government
- Healthcare
- Others
5.1 Market segments
Exhibit 15: End-user - Market share 2020-2025 (%)
5.2 Comparison by End-user
Exhibit 16: ?Comparison by End-user?
5.3 ?BFSI - Market size and forecast 2020-2025
Exhibit 17: ?BFSI - Market size and forecast 2020-2025 ($ million)?
Exhibit 18: ?BFSI - Year-over-year growth 2020-2025 (%)
5.4 Government - Market size and forecast 2020-2025
Exhibit 19: ?Government - Market size and forecast 2020-2025 ($ million)?
Exhibit 20: ?Government - Year-over-year growth 2020-2025 (%)
5.5 Healthcare - Market size and forecast 2020-2025
Exhibit 21: ?Healthcare - Market size and forecast 2020-2025 ($ million)?
Exhibit 22: ?Healthcare - Year-over-year growth 2020-2025 (%)
5.6 Others - Market size and forecast 2020-2025
Exhibit 23: ?Others - Market size and forecast 2020-2025 ($ million)?
Exhibit 24: ?Others - Year-over-year growth 2020-2025 (%)
5.7 Market opportunity by End-user
Exhibit 25: ?Market opportunity by End-user
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 26: ?Customer landscape?
7. Geographic Landscape
??The regions covered in the report are:
- North America
- Europe
- APAC
- South America
- MEA
7.1 Geographic segmentation
Exhibit 27: ?Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 28: Geographic comparison
7.3 North America - Market size and forecast 2020-2025?
Exhibit 29: ?North America - Market size and forecast 2020-2025 ($ million)?
Exhibit 30: ?North America - Year-over-year growth 2020-2025 (%)
7.4 Europe - Market size and forecast 2020-2025
Exhibit 31: ?Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 32: ?Europe - Year-over-year growth 2020-2025 (%)
7.5 ?APAC - Market size and forecast 2020-2025
Exhibit 33: ?APAC - Market size and forecast 2020-2025 ($ million)?
Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
7.6 South America - Market size and forecast 2020-2025
Exhibit 35: ?South America - Market size and forecast 2020-2025 ($ million)?
Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
7.7 MEA - Market size and forecast 2020-2025
Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 39: Key leading countries
7.9 Market opportunity by geography
Exhibit 40: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 ?Market drivers
8.1.1 Increase in FinTech spending
8.1.2 Easier access to technology
8.1.3 Disintermediation of banking services
8.2 Market challenges
8.2.1 Network privacy and security concerns
8.2.2 Lack of technology awareness
8.2.3 System configuration concern
Exhibit 41: Impact of drivers and challenges
8.3 Market trends
8.3.1 Advent of artificial intelligence (AI)
8.3.2 Growth of quantum computing
8.3.2 Growth of quantum computing
9. Vendor Landscape
9.1 Competitive scenario
9.2 Vendor landscape
Exhibit 42: Vendor landscape
9.3 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 43: ?Landscape disruption?
9.4 Industry risks
Exhibit 44: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 45: Vendors covered
10.2 Market positioning of vendors
Exhibit 46: ?Market positioning of vendors?
10.3 Accenture Plc
Exhibit 47: Accenture Plc - Overview
Exhibit 48: Accenture Plc - Business segments
Exhibit 49: Accenture Plc – Key news
Exhibit 50: Accenture Plc - Key offerings
Exhibit 51: Accenture Plc - Segment focus
10.4 Amazon.com Inc.
Exhibit 52: Amazon.com Inc. - Overview
Exhibit 53: Amazon.com Inc. - Business segments
exhibit 54: Amazon.com Inc.– Key news
Exhibit 55: Amazon.com Inc. - Key offerings
Exhibit 56: Amazon.com Inc. - Segment focus
10.5 Huawei Investment & Holding Co. Ltd.
Exhibit 57: Huawei Investment & Holding Co. Ltd. - Overview
Exhibit 58: Huawei Investment & Holding Co. Ltd. - Business segments
Exhibit 59: Huawei Investment & Holding Co. Ltd. - Key news
Exhibit 60: Huawei Investment & Holding Co. Ltd. - Key offerings
Exhibit 61: Huawei Investment & Holding Co. Ltd. - Segment focus
10.6 Infosys Ltd.
Exhibit 62: Infosys Ltd. - Overview
Exhibit 63: Infosys Ltd. - Business segments
Exhibit 64: Infosys Ltd. - Key news
Exhibit 65: Infosys Ltd. - Key offerings
Exhibit 66: Infosys Ltd. - Segment focus
10.7 Intel Corp.
Exhibit 67: Intel Corp. - Overview
Exhibit 68: Intel Corp. - Business segments
Exhibit 69: Intel Corp. - Key news
Exhibit 70: Intel Corp. - Key offerings
Exhibit 71: Intel Corp. - Segment focus
10.8 International Business Machines Corp.
Exhibit 72: International Business Machines Corp. - Overview
Exhibit 73: International Business Machines Corp. - Business segments
Exhibit 74: International Business Machines Corp. - Key news
Exhibit 75: International Business Machines Corp. - Key offerings
Exhibit 76: International Business Machines Corp. - Segment focus
10.9 Microsoft Corp.
Exhibit 77: Microsoft Corp. - Overview
Exhibit 78: Microsoft Corp. - Business segments
Exhibit 79: Microsoft Corp. - Key news
Exhibit 80: Microsoft Corp. - Key offerings
Exhibit 81: Microsoft Corp. - Segment focus
10.10 Oracle Corp.
Exhibit 82: Oracle Corp. - Overview
Exhibit 83: Oracle Corp. - Business segments
Exhibit 84: Oracle Corp. - Key news
Exhibit 85: Oracle Corp. - Key offerings
Exhibit 86: Oracle Corp. - Segment focus
10.11 SAP SE
Exhibit 87: SAP SE - Overview
Exhibit 88: SAP SE - Business segments
Exhibit 89: SAP SE - Key offerings
10.12 Tata Consultancy Services Ltd.
Exhibit 90: Tata Consultancy Services Ltd. - Overview
Exhibit 91: Tata Consultancy Services Ltd. - Business segments
Exhibit 92: Tata Consultancy Services Ltd. - Key news
Exhibit 93: Tata Consultancy Services Ltd. - Key offerings
Exhibit 94: Tata Consultancy Services Ltd. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 ????Market definition
11.1.2 ????Objectives
11.1.3 ????Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 95: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 96: ?Research Methodology
Exhibit 97: ??Validation techniques employed for market sizing?
Exhibit 98: ??Information sources
11.4 List of abbreviations
Exhibit 99: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- China
- UK
- Canada
- Germany
- increase in FinTech spending
- advent of artificial intelligence (AI)
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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