Blockchain Market Size, Share Focusing on Emerging Technologies, Top Country Data, Top Key Players Update and Forecast 2027

“IBM (US), AWS (US), Oracle (US), Huawei (China), Accenture (Ireland), Wipro (India), Infosys (India), TCS (India), SAP (Germany), Intel (US) , ConsenSys (USA), NTT DATA (Japan), Bitfury (Netherlands), Guardtime (Estonia), Chain (Saint Kitts and Nevis), VMware (USA), SpinSys (USA), LeewayHertz (USA), R3 (USA), Cegeka (Netherlands), Symbiont (USA).”

Blockchain Market by Component (Platforms and Services), Vendor (Application, Middleware and Infrastructure), Type (Public, Private and Hybrid), Organization Size (SMBs and Large Organizations), Application and Region – Global Forecast to 2027

MarketsandMarkets forecasts that the global blockchain market will grow from an estimated US$7.4 billion in 2022 to US$94.0 billion by 2027, at a compound annual growth rate (CAGR) of 66.2%. Increased venture capital funding and investments in blockchain technology are expected to stimulate market growth.

Download PDF brochure:

By component, platforms to have the highest market share during the forecast period

Components are divided into platforms and services. The blockchain platform is a decentralized solution used to track, document and facilitate transactions. Blockchain technology was first used for financial transactions, but can be used for a variety of industries such as e-commerce and for supply chain management. These software solutions provide the framework needed to create applications that rely on any type of transaction. Blockchain platforms are software solutions that enable companies to build applications with the blockchain technology. Blockchain technology refers to the use of a distributed, immutable ledger that documents transactions, activities and resource movement across a network. A blockchain-based ledger system can be used by companies for any application that relies on any type of transaction. The blockchain platform acts as a development platform with an integrated distributed ledger – which is an encrypted storage space for all types of data. The integrated data is then used to develop consensus mechanisms used to validate and approve transactions.

By organization size, SMEs will grow at the highest CAGR during the forecast period

Organizations with fewer than 1,000 employees are categorized as SMEs which have several disadvantages, including high barriers to entry and lower protection against market conditions. the requirement for multiple intermediaries for cross-regional trade exceeds operating costs, which limits the growth of implementation in SMEs with limited resources. in such scenarios, blockchain technology can prove useful. It can enable companies to reduce costs by eliminating these intermediaries. basic day-to-day operations are manual or semi-automated processes, including invoicing, inventory and payroll are some of the areas where SMEs can use blockchain technology. For example, SMBs streamline operations cost-effectively using smart contracts, a critical feature offered by the blockchain solution. It may turn out to be more economical.

What is blockchain?

According to MarketsandMarkets, blockchain is defined as a digitally distributed, decentralized and shared database that helps companies identify, track and trace every transaction on the company’s blockchain network. These transactions are recorded in the form of blocks that are linked together in a chain. Blockchain technology provides secure sharing of information while making the process transparent and immutable for all participants.

Request for sample pages:

Competition overview:

The blockchain market is led by some globally established players, such as IBM (USA), AWS (USA), Oracle (USA), Huawei (China), Accenture (Ireland), Wipro (India), Infosys (India), TCS (India), SAP (Germany), Intel (USA), ConsenSys (USA), NTT DATA (Japan), Bitfury (Netherlands), Guardtime (Estonia), Chain (Saint Kitts and Nevis), VMware (USA), SpinSys (USA). ), LeewayHertz (US), R3 (US), Cegeka (Netherlands), Symbiont (US), BigchainDB (Germany), Applied Blockchain (UK), RecordsKeeper (US), Blockpoint (US), Auxesis Group (India), Blockchain Foundry (Canada), Factom (US), Stratis (UK), Dragonchain (US). These players have adopted various growth strategies, such as partnerships, agreements, collaborations, acquisitions and product development, to increase their market presence.

IBM is a computer, technology and IT consulting company and is one of the largest technology companies. IBM Blockchain helps companies improve their business efficiency and solve business challenges by building trusted networks across industries. IBM Watson IoT Blockchain Service is a SaaS solution that enables devices to send data to blockchain ledgers for inclusion in shared transactions with tamper-proof records. The company provides solutions and services to various industries including IT, Healthcare, Life Sciences, Government, Telecom, Automotive, Manufacturing, Fast-Moving Consumer Goods (FMCG), Chemicals & Petroleum, Electronics, Energy & Power, Media & Entertainment, Mining, Retail , BFSI, Travel & Transport and Education. It is present in North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.

Amazon Web Services (AWS) is a subsidiary of Amazon. It provides on-demand cloud computing platforms to individuals, governments and companies. AWS encompasses more than 212 services, including storage, computing, networking, database, analytics, application services, distribution, mobile, developer tools, and IoT tools. It also provides Amazon Managed Blockchain, it is a fully managed service. With just a few clicks, Amazon Managed Blockchain allows organizations to set up and manage a scalable blockchain network. The overheads required to create networks are eliminated with managed blockchain, and it automatically scales to meet the demands of thousands of applications running millions of transactions. Once the network is up and running, it can be easily managed and maintained using Managed Blockchain. Amazon Managed Blockchain manages certificates, allows clients to easily invite new members to join the network, and tracks operational metrics such as usage of computing, memory, and storage resources. An immutable copy of blockchain network activity can be replicated into the Amazon Quantum Ledger Database (QLDB), a fully managed ledger database using the Amazon Managed Blockchain. The organization can also use its capabilities to analyze network activity outside the network and gain insight into trends. AWS is present across 77 Availability Zones across 24 geographic locations with plans to launch 12 more Availability Zones and four more AWS Regions in Indonesia, Italy, Japan and Spain respectively.

Media contact
Company name: MarketsandMarkets™ Research Private Ltd.
Contact person: Mr. Aashish Mehra
Email: Send email
Telephone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: