Category : ICT | Published at : December-2022 | Delivery Format : PDF | Status: Published | Pages : 250
The Global Blockchain Distributed Ledger Technology Market Size accounted for USD 7.5 Billion in 2021 and is estimated to achieve a market size of USD 551.6 Billion by 2030 growing at a CAGR of 61.6% from 2022 to 2030. Rapid digitization of industries throughout the world is one of the primary factors driving the blockchain distributed ledger technology market growth. Additionally, growing large and medium-sized firms adopt distributed ledger technology to increase their income-earning opportunities and as industrialization becomes conscious of the potential of these technologies, the global blockchain distributed ledger technology market value is growing.
Blockchain Distributed Ledger Technology Market Report Key Highlights
- Global blockchain distributed ledger technology market revenue is expected to increase by USD 551.6 billion by 2030, with a 61.6% CAGR from 2022 to 2030
- North America region led with more than 43% of blockchain distributed ledger technology market share in 2021
- Asia-Pacific blockchain distributed ledger technology market growth will observe strongest CAGR from 2022 to 2030
- By type, the private segment has accounted market share of over 48% in 2021
- By application, supply chain management segment engaged more than 26% of the total market share in 2021
- Growing adoption of cloud computing and artificial intelligence (AI) solutions, drives the blockchain distributed ledger technology market size
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. Blockchain technology is an innovative and vital technology as it stands as proof of all the transactions on the network. It creates a chain of all blocks stored in the system.
Global Blockchain Distributed Ledger Technology Market Trend
Market Drivers
- Growing need for operational transparency and independence
- Rising corporate desire for improved security measures
- Increasing demand for better capital optimization
- Growing adoption of cloud computing and artificial intelligence (AI) solutions
Market Restraints
- Inadequate understanding of cryptocurrency
- Insufficient infrastructure in certain regions
Market Opportunities
- Rising integration of IoT in blockchain distributed ledger
- Increased investment in private blockchain distributed ledger technologies
Blockchain Distributed Ledger Technology Market Report Coverage
| Market | Blockchain Distributed Ledger Technology Market |
| Blockchain Distributed Ledger Technology Market Size 2021 | USD 7.5 Billion |
| Blockchain Distributed Ledger Technology Market Forecast 2030 | USD 551.6 Billion |
| Blockchain Distributed Ledger Technology Market CAGR During 2022 - 2030 | 61.6% |
| Blockchain Distributed Ledger Technology Market Analysis Period | 2018 - 2030 |
| Blockchain Distributed Ledger Technology Market Base Year | 2021 |
| Blockchain Distributed Ledger Technology Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Type, By Application, By Industries, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | 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. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Blockchain Distributed Ledger Technology Market Dynamics
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 a crucial factor for driving the growth of the market.
Blockchain DLT is a technology that was introduced first in the BFSI sector as it is a distributed ledger that is decentralized in nature. BFSI is the major application of the blockchain DLT. Blockchain makes the 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 the increasing adoption of blockchain technology and the increasing need for fast transactions. Additionally, increasing spending on healthcare, BSFI, & transportation and the incorporation of IT in the different sectors have fueled the market growth.
Blockchain Distributed Ledger Technology Market Segmentation
The global blockchain distributed ledger technology market segmentation is based on type, application, industries, and geography.
Blockchain Distributed Ledger Technology Market By Type
- Public
- Private
- Hybrid
According to a blockchain distributed ledger technology industry analysis, the private segment held a significant market share in 2021. A private blockchain protects a blockchain application and allows the user members complete access to their own operations. It is centralized and of a higher level of importance than a blockchain platform. Due to its benefits, the widespread awareness of blockchain distributed ledger across various enterprises drives the spread of private blockchain-based distributed ledger with end users. Small and large businesses employ private blockchain-distributed ledgers to confidentially communicate customer accounting reports via payment systems to banks and other financial institutions.
Blockchain Distributed Ledger Technology Market By Application
- Payments
- Supply Chain Management
- Smart Contracts
- Trade Finance
- Compliance Management
- Others
In terms of applications, the supply chain management segment dominates the market in 2021. Supply chain management comprises supervising the flow of products and services, across all processes that convert raw materials into completed commodities. Significant market participants are interested in blockchain distributed ledger technologies in order to understand further user preferences and demand. The adoption of blockchain distributed ledger systems is also being fuelled by increased rivalry between companies to provide enhanced satisfaction to customers along with a more personalized experience.
Blockchain Distributed Ledger Technology Market By Industries
- BFSI
- Government
- Healthcare
- Energy & Utilities
- Manufacturing & Industrial Products
- Retail & E-commerce
- Others
According to the blockchain distributed ledger technology market forecast, the BFSI segment is expected to grow significantly in the coming years. Blockchain distributed ledger technology allows all participating nodes to see the record-keeping system in various banking and financial institutes. Blockchain technology has the potential to the banking institutions more efficient, less expensive, secure, and accessible. By providing a global, standardized ledger system, blockchain is expected to reduce the friction produced in financial institutions when multiple intermediaries employ various technology infrastructures. Infrastructure simplification and the elimination of unneeded intermediaries can improve efficiency.
Blockchain Distributed Ledger Technology Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Dominates the Global Blockchain Distributed Ledger Technology Market
Geographically, North America dominates the global blockchain DLT market owing to the increased spending in various sectors, well-developed technology, and awareness among the people about blockchain technology. Europe commands the second largest market, which is attributed due to the high acceptance of blockchain technology and the availability of huge investments.
Moreover, the Asia-Pacific accounts for the fastest-growing market due to the presence of huge opportunities for the growth of the market. The presence of a rapidly growing economy like India and China will provide fuel for the growth of the market in the Asia-Pacific region.
The LAMEA holds the least share in the market due to the presence of poor economy countries in the Africa region. The Middle East holds the major share in the Middle East & Africa market owing to the presence of well-developed economies like Kuwait, Qatar, Oman, and others.
Blockchain Distributed Ledger Technology Market Players
Some of the top blockchain distributed ledger technology market companies offered in the professional report include 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.
Frequently Asked Questions
The estimated value of global blockchain distributed ledger technology market in 2021 was accounted to be USD 7.5 Billion.
The projected CAGR blockchain distributed ledger technology market during the analysis period of 2022 to 2030 is 61.6%.
The prominent players of the global blockchain distributed ledger technology 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.
North America held the dominating blockchain distributed ledger technology market during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for blockchain distributed ledger technology market during the analysis period of 2022 to 2030.
Growing need for operational transparency and independence and rising corporate desire for improved security measures drives the growth of global blockchain distributed ledger technology market.
Based on type, private segment is expected to hold the maximum share of the blockchain distributed ledger technology market.
