Market Overview

Global Blockchain Technology Market Report 2018 - Forecast to 2023 -


The "Global
Blockchain Technology Market (2018-2023)"
report has been added
to's offering.

The global Blockchain market is expected to grow at a CAGR of 42.8%
(2018-2023) leading to global revenue of USD 19.9 Bn by 2023.

Blockchain technology is being increasingly used in the BFSI segment for
financial transactions and cross-border payments. In the Banking and
financial sector, it is utilized to secure payments, maintain customer
identities, settle cross-border payments, etc.

Blockchain technology is also employed in Healthcare Sector, Supply
Chain Management, Energy, Media, and Informatics, etc. Banking financial
services and insurance (BFSI) together holds the largest share.
Blockchain in retail industry under Supply chain management is the
fastest growing sector.

Blockchain Technology market is further classified into three main types
based on its users' accessibilities - Public Blockchain Technology,
Private Blockchain Technology, and Mixed Blockchain Technology. Public
Blockchain technology dominates the market. The US dominates in
Blockchain patents application. About half of the total Blockchain
patents applied is primarily for financial use.

Key growth factors:

Financial Technology (FinTech) companies are planning to invest a part
of their total investment in the distributed ledge technology, i.e.,
Blockchain. The technology being decentralized attracts the banking
sector to adopt the technology. The Blockchain technology market is
expected to have a positive growth shortly owing to less time
consumption, transparent nature that also requires less transaction cost.

Threats and key players:

Although the Blockchain market is expected to have a positive growth
globally, still, there is lack of awareness, regulation problem,
ideology clash hinders the adoption of the technology.

Some of the Blockchain technology providers in the Blockchain market are
Microsoft Corporation, IBM, Accenture, Deloitte, etc.

Companies Mentioned

Major Companies:

  • Microsoft Corporations
  • IBM
  • Accenture
  • Deloitte
  • Capgemini
  • Cognizant
  • Infosys
  • Tata Consultancy Services
  • VirustaPolaris
  • Wipro

Start-up Companies:

  • Chain
  • Consensys
  • R3 Cev
  • Ripple
  • Guardtime
  • Gem
  • Everledger
  • Ascribe

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