Blockchain Distributed Ledger Market Overview:
The global blockchain distributed ledger market accounted for $228 million in 2016, and is anticipated to reach $5,430 million by 2023, growing at a CAGR of 57.6% from 2017 to 2023.
Blockchain distributed ledger is a medium of exchange formed and stored electronically, using encryption methods to regulate the creation of financial units and to verify the transfer of funds. All the blockchain ledgers are created by private individuals, organizations, or firms. The blockchain distributed ledger market has evolved intermittently and at a significant rate during the past few years. The majority of blockchain distributed ledger market is currently focused on cryptocurrencies rather than a more diverse range of applications.
Blockchain data is complete, consistent, timely, accurate, and widely available. Moreover, a third-party cannot interrupt transactions of cryptocurrencies, and thus there is no feasible way to implement a blockchain distributed ledger taxation system. Therefore, the global blockchain distributed ledger market is expected to witness moderate growth in the near future, owing to less transaction cost and reduced chance of thefts. However, limited acceptance and risk of unknown technical flaws are projected to hamper the market growth. Insignificant effect of inflation of blockchain distributed ledger is expected to provide lucrative opportunities to the market.
The global blockchain distributed ledger market is segmented based on type, end user, and geography. By type, the market is bifurcated into private blockchain and public blockchain. In 2016, the private blockchain segment dominated the global market, in terms of revenue, and is expected to maintain this trend throughout the forecast period, owing to its reliability.
On the basis of end user, the market is categorized into government, BFSI, automotive, retail & e-commerce, media & entertainment, and others. The BFSI segment dominated the global market, in terms of revenue, and is expected to maintain this trend.
Competitive analysis and profiles of the major market players such as Chain Inc., IBM Corporation, Accenture PLC, Eris Industries, Intel Corporation, Deloitte, Blockchain Tech Ltd., Microsoft Corporation, Digital Asset Holdings, and Earthport is provided in this report.
Top impacting factors
- The study provides an in-depth analysis of the global blockchain distributed ledger market to elucidate the prominent investment pockets.
- Current trends and future estimations are outlined to determine the overall market potential, and single out profitable trends to gain a stronger foothold in the market.
- The report provides information about key drivers, restraints, and opportunities along with their impact analyses.
- The market is analyzed based on various regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Blockchain Distributed Ledger Market Key Segments
- Private Blockchain
- Public Blockchain
By End User
- Retail & e-Commerce
- Media & Entertainment
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East