The global block chain technology market was valued at US$ 482.1 million in 2016. Block chain technology market is mainly driven by the increasing adoption of the technology in the financial services sector, public sector and healthcare segments are few of the major factors that are expected to fuel the demand for the block chain technology market. The block chain technology market has been segmented on the basis of type, application, end-use industry, and region.

In terms of value, public block chain technology accounted for more than 60% of the market share in year 2016 of the global block chain technology by type market and projected to maintain its dominance throughout the forecast period 2017 to 2025. However, private technology is anticipated to be the fastest growing segment during the forecast period 2017 to 2025.

By application, in year 2016 payment segment accounted for the largest share of around in the global market in terms of revenue. The need for banking and financial transactions has evolved from traditional payments systems to be seamlessly integrated into new and always connected lifestyle which is fueling the growth of Blockchain-based payment solutions.

BFSI industry dominates the block chain market by end-use industry segment by value in 2016. It is also projected to witness the robust growth of 60.4% during the forecast period of 2017 to 2025. The real time tracking of transactions, averting frauds and errors when making online payments is expected to fuel the adoption of block chain technology in BFSI sector.

In 2016, the block chain technology market by region was dominated by the North America region accounting approximately 45% of the market share. North America was followed by the Europe and Asia Pacific. North America holds the largest share of the block chain technology market during the forecast period, due to the early adoption of block chain technology in the banking and financial services vertical. The U.S. is the largest national market for block chain technology in the North America. Asia Pacific market is expected to witness the fastest growth during the forecasted period, owing to growing financial technology investments in distributed ledger technology is expected to grow in this region.

The companies such as Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada) among others are present in the global block chain technology market.

The report titled “Block chain technology Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025” offers strategic insights into the global block chain technology market along with the market size and estimates for the duration 2017 to 2025. The said research study covers in-depth analysis of multiple market segments based on type, application, end-use industry and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. 

In order to help the strategic decision makers, the report also includes profiles of the leading block chain technology manufacturers, along with their, product portfolio and key developments. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the block chain technology industry
• Market drivers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2015 – 2016)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global block chain technology market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.

In 2016, on the basis of type, the block chain technology market was dominated by public segment accounted for more than 60% of market share in 2016. This can be attributed to the growing tendency of the government and institutions to inculcate open and efficient transactions. The private network type segment is expected to follow the public segment albeit cautiously and may witness a fastest growth between 2017 and 2025. Private block chain offers great efficiency and faster transaction speed; however, it does not offer same decentralized security as public block chain. Consortium block chain is partly private provides many of the same benefits affiliated with private block chain — efficiency and transaction privacy. This technology type accounts for the nominal share of block chain technology by type market.

BFSI sectors accounts for approximately 65% of the block chain technology market. The real time tracking of transactions, averting frauds and errors when making online payments is expected to fuel the adoption of block chain technology in BFSI sector. Since transactions can be speedy with the help of block chain technology, it is in demand from both financial and non-financial services.

The regulatory and transactional offerings of the technology are in alignment with the BFSI sector and will have major consequences on the domains included in the financial sector. Non-financial sector includes healthcare and life sciences, retail and ecommerce, automotive, media and entertainment and others. The media and entertainment vertical is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of block chain across smart contracts, document management, and digital identities in the media industry.

The global block chain technology market has been segmented geography-wise, wherein a detailed analysis of every country has been conducted in this section. These regions include North America, Asia Pacific, Europe, Latin America and the Middle East & Africa.

The global market for block chain technology is dominated by North America region in terms of value, with the share of approximately 45% in 2016, followed by Europe and Asia Pacific. This is mainly because in the developed economies of the U.S. and Canada, there is a high focus on distributed ledger technology innovations. Asia Pacific is also projected to grow at the fastest CAGR of around 62% between 2017 and 2025 on account of the growing trend of online payment in economies such as China, India, and Japan. Moreover, the recent demonetization that took place in India, boosted the growth of online payments which led to increased adoption of the block chain technology in various sectors.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Block Chain Technology market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Block Chain Technology market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Block Chain Technology market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Block Chain Technology market?
• Which is the largest regional market for Block Chain Technology market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Block Chain Technology market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Block Chain Technology market worldwide?