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2021

Blockchain Distributed Ledger Market

Blockchain Distributed Ledger Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Solution and Service), Type (Private, Public and Hybrid), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Application (Payments, Smart Contracts, Supply Chain Management, Compliance Management, Trade Finance and Others) and End User (BFSI, Government & Public, Manufacturing, Retail & E-Commerce, Media & Entertainment, Transportation & Logistics, Healthcare, Energy & Utilities and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Author's: Pramod Borasi| Vaibhav Modi | Vineet Kumar
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The global blockchain distributed ledger market size was valued at $2.89 billion in 2019, and is projected to reach $137.29 billion by 2027, growing at a CAGR of 62.7% from 2020 to 2027. Blockchain distributed ledger is a type of system that uses independent computers to share, record, and synchronize transactions in their respective electronic ledgers. In addition, various SMEs and fintech are using distributed ledgers owing to its various benefits, which include reducing operational inefficiencies, to speed up the amount of time a transaction takes to complete and reduce the overall cost of organizations by automating important tasks.

The key factors that drive the growth of the global blockchain distributed ledger market trends include rise in adoption of distributed ledger among various large & medium size enterprises to surge their revenue opportunity and increase in awareness toward blockchain distributed ledger applications among various industries drive the growth of the global blockchain distributed ledger market growth. In addition, low risk of data fraudulent activities and less cost of blockchain distributed ledger applications propel the growth of the market. However, lack of awareness of cryptocurrency among the people in developing nations are expected to hamper the market growth. On the contrary, integration of Internet of Things (IoT) in blockchain distributed ledgers is projected to have a definite impact on the growth of the blockchain distributed ledger market.

Blockchain-Distributed-Ledger-Market-2020-2027

The private blockchain segment is expected to garner a significant share during the forecast period due to increase in investments in private blockchain distributed ledger technology to upsurge the revenue opportunity of banks and financial institutions and to increase the market share. However, the hybrid blockchain segment is expected to grow at the highest rate during the forecast period, owing to rise in adoption of hybrid blockchain among various emerging countries of Asia-Pacific and LAMEA. 

Region wise, the blockchain distributed ledger market share was dominated by North America in 2019, and is expected to retain its position during the forecast period. This is attributed to the rise in adoption of blockchain technology in various industries, which include BFSI, government & public, manufacturing and others for managing critical information. However, Asia-Pacific is expected to witness significant growth rate during the forecast period owing to growing finance industry in emerging countries of Asia-Pacific and rise in adoption of blockchain technology for improving the payment processing system among the fintech.

The report focuses on the growth prospects, restraints, and trends of the blockchain distributed ledger market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the blockchain distributed ledger market.

Segment review

The global blockchain distributed ledger market is segmented on the basis of component, type, enterprise size, application, end user, and region. As per component, the market is segmented into solution and service. In terms of type, it is bifurcated into private, public and hybrid. By enterprise size, it is segmented into large enterprises and small & medium enterprises. In terms of application, it is bifurcated into payments, smart contracts, supply chain management, compliance management, trade finance and others. As per end user, it is divided into BFSI, government & public, manufacturing, retail & e-commerce, media & entertainment, transportation & logistics, healthcare, energy & utilities and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Blockchain Distributed Ledger Market
By Type
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Hybrid is projected as one of the most lucrative segments.

The key players profiled in the blockchain distributed ledger market analysis are AlphaPoint, Amazon Web Services, Inc., Auxesis Services & Technologies (P) Ltd., Digital Asset Holdings, LLC, Earthport, Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, iXledger and NTT DATA Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. 

COVID-19 impact analysis

The COVID-19 pandemic is anticipated to have a considerable impact on the growth blockchain distributed ledger industry. Although the COVID-19 emergence has affected the overall major industrial sectors, the blockchain distributed ledger market is expected to witness decline in the first two quarters of 2020, owing to rising COVID-19 patients across the globe and closing of various banks and fintech industries. In addition to this, the market is expected to increase in the third and fourth quarter of 2020 owing to increase in requirements of blockchain distributed ledgers from sectors such as financial institutions, telecom operators, manufacturing, and others. In addition, there is a high demand to store, create and manage various types of distributed ledgers owing to lockdown imposed across various countries to contain COVID-19 virus. 

Blockchain Distributed Ledger Market
By Application
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Compliance Management is expected to attain significant growth during the forecasted period

Top impacting factors

Increased data security of organization 

Large and medium sized enterprises need to store and share private information between various stakeholders involved in a project. Thus, organizations are adopting blockchain distributed ledgers to securely manage this transactional and critical information. In addition, blockchain distributed ledger technology is used to increase data security of organization in mainly three aspects, which include blocking identity theft, avoiding data tampering, and stopping denial of service attacks. Moreover, increase in adoption of blockchain distributed ledger technology among banks and financial institutions due to increase in the risk of a backdoor transaction and unauthorized intervention considerably drives the growth of the market. Furthermore, several banks and financial institutions across North America have been adopting blockchain distributed ledger technology to improve the efficiency of payment clearing, which propels the growth of the market. 

Rise in transparency and independency

The blockchain distributed ledger market is expected to witness promising growth in the coming years, owing to improved data transparency and independency across donors, aid agencies, and NGOs. The use of blockchain distributed ledger across retail industries provides various benefits such as sending and receiving products information transparently and storing customers detail information securely for next purpose. For instance, Walmart Inc., one of the leading retail corporation in the U.S., have been using blockchain distributed ledger technology for tracking and recording its product information. Thus, number of such developments across the major players of the market drives the growth. Furthermore, the innovative blockchain distributed technology protocols are expected to replace the need for certain organizational solutions and allow diverse players to share data transparently across the company. Such systems bring transparency to supply chains, helping in elimination of environmental crimes and others wh  ich boost the adoption of blockchain distributed ledger in the future. 

Blockchain Distributed Ledger Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 69.1% during 2020-2027.

Key Benefits for Stakeholders 

  • The study provides an in-depth analysis of the global blockchain distributed ledger market forecast along with the current & future trends to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the global blockchain distributed ledger market outlook is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the blockchain distributed ledger market share for the period 2019–2027 is provided to determine the market potential.

Blockchain Distributed Ledger Market Report Highlights

Aspects Details
Blockchain Distributed Ledger Market By Component
By Component
  • Solution
  • Service
Blockchain Distributed Ledger Market By Type
By Type
  • Private
  • Public
  • Hybrid
Blockchain Distributed Ledger Market By Enterprise Size
By Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises
Blockchain Distributed Ledger Market By Application
By Application
  • Payments
  • Smart Contracts
  • Supply Chain Management
  • Compliance Management
  • Trade Finance
  • Others
Blockchain Distributed Ledger Market By End User
By End User
  • BFSI
  • Government & Public
  • Manufacturing
  • Retail & E-Commerce
  • Media & Entertainment
  • Transportation & Logistics
  • Healthcare
  • Energy & Utilities
  • Others
Blockchain Distributed Ledger Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe   (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe)
  • Asia-Pacific   (China, Japan, India, Australia, Singapore, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Blockchain Distributed Ledger Market By Key Market Players
By Key Market Players
  • AlphaPoint
  • Amazon Web Services, Inc.
  • Auxesis Services & Technologies (P) Ltd.
  • Digital Asset Holdings, LLC
  • Earthport
  • Huawei Technologies Co., Ltd.
  • Intel Corporation
  • International Business Machines Corporation
  • iXledger
  • NTT DATA Corporation

Analyst Review

Blockchain distributed ledger refers to an approach of organizing information, data and records into blocks and sharing these blocks within the network of participants in the encrypted form. In addition, various organizations are adopting this type of ledger for creating new block of data, which contains several transaction records and the information within the new block, this new block is then shared across the entire network with enhance security. The blockchain distributed ledger is important in many organizations as it provides various benefits to the end users, which include improving the productivity of the employees and the organization as well as providing flexibility toward work and improving the storage capacity. The blockchain distributed ledger technology has been positively affected due to the outbreak of COVID-19. This is attributed to the fact that small & medium sized enterprises across developing countries of Asia-Pacific offer remote working facilities for avoiding crowd in organization. Therefore, more number of businesses are adopting blockchain distributed ledger technology to securely transfer data to their stakeholders.

North America occupied a major share in the blockchain distributed ledger market in 2019, owing to rise in adoption of this system in various banks and fintech to increase the speed of storing transactional information. In addition, some of the leading market players are offering innovative blockchain distributed ledger technology to enhance the business efficiency of the various organizations by improving their safety and security features. Moreover, Asia-Pacific is expected to experience significant growth in the near future, owing to rise in digitalization in the BFSI industry and surge in awareness of cryptocurrency in this region. Increase in adoption of blockchain distributed ledger among supply chain industries in the Asia-Pacific region to increase the security features for their financial records propels the growth of the market.

Author Name(s) : Pramod Borasi| Vaibhav Modi | Vineet Kumar

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Blockchain Distributed Ledger Market

Global Opportunity Analysis and Industry Forecast, 2020-2027