In 2017, the global blockchain distributed ledger technology (DLT) market was approximately 550.40 million.
The blockchain is a distributed database of records of all the transactions and payments which are executed by the different parties. The blockchain contains a certain and verifiable record of every single transaction ever made. The blockchain technology is an innovative and vital technology as it stands as the proof of all the transactions on the network. It creates a chain of all blocks stored in the system. The blockchain technology helps to maintain a complete database of all addresses and their balances from the origin blocks to the most recent blocks, which is the crucial factor for driving the growth of the market..
The market research study on “Blockchain Distributed Ledger Technology Market (By Type: Public, Private, Consortium; By Industries: BFSI, Government, Healthcare, Energy & Utilities, Manufacturing & Industrial Products, Retail & E-commerce, Others; By Application: Financial transactions, Smart property, Smart contract, Blockchain identity, Supply chain management, Digital voting) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global blockchain distributed ledger technology market. The report also analyzes the key players operating in blockchain distributed ledger technology market and identifies the key strategies deployed by them along with the market share of leading players. The global blockchain distributed ledger technology marketis segmented as below:
Blockchain Distributed Ledger Technology Market by Type
Blockchain Distributed Ledger Technology Market by Industries
Blockchain Distributed Ledger Technology Market by Application
Blockchain Distributed Ledger Technology Market by Geography
The global blockchain distributed ledger technology market was 550.40 USD Million in 2017. Blockchain DLT is a technology which was introduced first in BFSI sector as it is a distributed ledger which is decentralized in nature. BFSI is the major application of the blockchain DLT. Blockchain makes transfer of data, assets, and money safe, secure and transparent.The blockchain contains a certain and verifiable record of every single transaction ever made. The global market is majorly driven by increasing adoption of the blockchain technology and increasing need for the fast transaction. Additionally, increasing spending on healthcare, BSFI, & transportation and incorporation of IT in different sector have fueled the market growth.
On the basis of type the market is segmented into public, private, and consortium.
On the basis of industries, the market is bifurcated into BFSI, government, healthcare, energy & utilities, manufacturing & industrial products, retail &E-commerce, and others.
These technology is used in various application which includes: financial transactions, smart property, smart contract, blockchain identity, supply chain management, digital voting, and others
Geographically, the global blockchain distributed ledger technology market is segmented into North America, Europe, China, Japan, Southeast Asia, India, South America, and Middle East and Africa.
America dominates the global blockchain DLT market owing to the increasing spending in various sectors, well developed technology and awareness among the people about the blockchain technology. Europe commands for the second largest market, which is attributed due to high acceptance of the blockchain technology and availability of huge investment.
Asia Pacific accounts for the fastest growing market due to the presence of huge opportunity for the growth of the market. Presence of rapidly growing economy like India and China will provide fuel for the growth of the market in Asia Pacific region.
The LAMEA holds the least share in the market due to presence of poor economy countries in Africa region. Middle East holds the major share in the Middle East & Africa market owing the presence of the well developed economies like Kuwait, Qatar, Oman, and others.
Some of the major players in the market are IBM Corporation, Accenture, Microsoft, Capgemini, Deloitte Touche Tohmatsu Limited, Blockchain Tech Ltd, Digital Asset Holdings, Global Arena Holding, Inc., Ethereum, BitFuryUsa Inc., Chain, Inc., Coinbase Inc., and Abra, Inc..