Digitization for improved service realization and error prevention is driving the market
DUBLIN, March 27, 2023 /PRNewswire/ — The “Blockchain Technology Market by Use Case, Business Model, Solutions, Services and Applications in Industry Verticals 2023 – 2028” report has been added ResearchAndMarkets.com’s Offering.
This report examines the technology, leading companies and solutions in the evolving blockchain ecosystem. The report evaluates current and anticipated blockchain use cases and assesses the market potential globally, regionally and segmented by deployment type and industry vertical.
The report also evaluates key players, solutions and use cases. The report also considers the possibility of integrating blockchain with other technologies, including IoT and artificial intelligence. The report includes forecasts by use cases, applications, and industry verticals from 2023 to 2028.
Select report findings:
- Distributed ledgers and other blockchain capabilities are expanding rapidly outside of finance
- The blockchain technology market will grow at 67.4% CAGR until 2028 71 billion dollars
- Significant blockchain capabilities include data decentralization, data usage control, and encryption
- Consortium/hybrid blockchain will be the largest North America blockchain technology area on 8.1 billion dollars by 2028
- The preponderance of blockchain revenue will come from three types of services: Blockchain-as-a-Service (BaaS), Cloud Computing (hosting and data as a service) and system integration
- Companies such as Accenture will lead the charge for systems integration, and companies such as Amazon, Dell, HPE and IBM will lead for BaaS and Cloud Computing. Other companies will fill important niche roles.
Blockchain technology provides some means of authentication, authorization and accounting. Blockchain and related distributed authentication and accounting technologies are poised to transform ICT, and are doing so, causing significant disintermediation across a wide range of industry verticals.
Experiences from FinTech and traditional banking from the distribution and operation of decentralized authentication, clearing and settlement will be applied to many telecom and data problems to the benefit of many industry verticals. The impact will be wide-ranging, including everything from investment/trade to the legal cannabis industry, and very deep in terms of changes in supply chains and relationships between suppliers, customers and peers.
The integration and operation of Blockchain technology will redefine how various industries operate, dramatically improving efficiency and reducing the cost of doing business. For example, start-ups have been launched to provide software and microchip hardware that enable connected devices to operate on blockchain. The products are designed to encrypt data, distribute information to blockchain-connected machines and monetize these machines.
An important area of technology integration is the Internet of Things (IoT), which is a very promising area as we expect the use of Blockchain in IoT networks/systems to be one of the most important means of authenticating and authorizing transactions. For example, HYPR provides solutions to reduce cybersecurity risk in IoT devices through its decentralized credentialing approach. Their products reduce the need for passwords in a centralized server, replacing them with biometric and other password-free solutions. This makes for IoT devices that are virtually unhackable from a social engineering perspective.
Another important area for blockchain in telecommunications is resource identity including tracking ownership and custody of assets such as phone numbers. Developments in this area can be leveraged to dramatically improve enterprise identity verification for voice and non-voice communications to consumers.
We also see Blockchain as a Service (BaaS) as a key service offering for many market segments as a means of solution introduction and scalability via a cloud service model. For example, AI in supply chain management solutions combined with blockchain technology marketing solutions to dramatically improve SCM.
Key topics covered:
1.0 Summary
2.0 Introduction
3.0 Blockchain Ecosystem and Marketplace
3.1 Blockchain Types and Stakeholders
3.2 Blockchain Applications
3.2.1 Financial services
3.2.2 Non-financial services
3.3 Blockchain application in industry verticals
3.3.1 Financial industries
3.3.2 Production and FMCG
3.3.3 Public sector
3.3.4 Healthcare and life sciences
3.3.5 Telecommunications, media and IT
3.3.6 Cars and transport
3.3.7 Retail and e-commerce
3.3.8 Other sectors
3.4 Blockchain in the Internet of Things
3.5 Blockchain as a Service
3.6 Blockchain Stakeholders in ICT
3.7 Blockchain to improve cyber security
3.8 Blockchain Investment Analysis
3.9 Major Blockchain Consortia and Associations
3.9.1 R3cev Blockchain Consortium
3.9.2 Postal trade distributed ledger group
3.9.3 The Hyperledger Project
3.9.4 Steering Group for Global Payments
3.9.5 Financial Blockchain Shenzhen Consortium
3.9.6 Cu Ledger
3.9.7 Blockchain Collaborative Consortium
3.9.8 Wall Street Blockchain Alliance
3.9.9 Japan Blockchain Association
3.9.10 Korea Financial Investment Association
3.9.11 The Nimbrix Consortium
3.9.12 B3i
3.10 Blockchain solutions in industry verticals
3.10.1 Japan Exchange Group Blockchain Consortium
3.10.2 Walmart Blockchain for Food Safety
3.10.3 Ubitquity Blockchain in Property
3.10.4 HYPR and blockchain biometrics
3.10.5 Whaleclub Trading Supported by Blockchain
3.10.6 EasyBit is extended Bitcoin ATM network to Vietnam
3.10.7 Blockchain technology as a medium for declaring love and marriage
3.10.8 Bitcoin Boosting the solar industry
3.10.9 LO3 Energy and Siemens Blockchain for Microgrids
3.10.10 MasterCard Blockchain APIs
3.10.11 ConsenSys and UAE partnership for blockchain projects
3.10.12 People’s Bank of China digital currency
3.10.13 China stops withdrawal of Bitcoin
3.10.14 The Huiyin Group Bitcoin Fund
3.10.15 BitFury Group and Blockchain
3.10.16 Reserve Bank of India Blockchain Technology for Trade Applications
3.10.17 JA Bank to multi-nodal blockchain solution for Bajaj Electricals
3.10.18 European Bank Digital Trade Chain
3.10.19 BTL Group will test the Interbit platform with energy companies
3.10.20 BNP Paribas is testing blockchain-based real-time business payments
3.10.21 WISeKey to establish IoT Blockchain Center of Excellence
3.10.22 ARK Crew Testnet for Blockchain
3.10.23 ICICI Bank and NBD Blockchain based transactions
3.10.24 PAXOS Blockchain for gold settlement with Euroclear
3.10.25 Microsoft and BAML Blockchain Improve Trade Finance
3.10.26 Mahindra Group Blockchain Solution with IBM
3.10.27 Chitkara University Blockchain for e-Documents
3.10.28 UBS expands Blockchain into China
3.10.29 IBM China and UnionPay Permissioned Blockchain Network
3.10.30 IBM and Beijing Energy-Blockchain Labs Use Blockchain for Carbon Trading
3.10.31 The European Central Bank and the Bank of Japan are exploring the blockchain
3.10.32 OneCoin Enhanced Blockchain
3.10.33 Sompo Japan uses blockchain for disaster and weather derivatives
3.10.34 Tech Bureau and Zaif Bitcoin Exchange
3.10.35 Hitachi and BTMU use blockchain for bank checks
3.10.36 Senegal national digital currency
3.10.37 Singapore Blockchain for Electronic Payment System
3.10.38 Accenture and Digital Asset Holdings Blockchain Practice
3.10.39 RISE Financial Technologies Post-Trade Blockchain Technology
3.10.40 VISA introduces blockchain-based solution for payment services
3.10.41 Chain Inc. released the open source Blockchain Protocol
3.10.42 Colu and Blockchain based currencies
3.10.43 DigitalX partnership with Telefonica
3.10.44 Eris Industries Partners with Ledger Improve Blockchain Hardware Security
3.10.45 Monax Industries Partnership with Ledger for Blockchain Hardware Security
3.10.46 German central bank, Deutsche Bundesbank Blockchain Trading Prototype
3.10.47 UK Trials Blockchain Welfare Payment System
3.10.48 Santander Blockchain for international payments
3.10.49 Electron Ethereum Blockchain in UK energy sector
3.10.50 Bank of Russia is testing Masterchain
3.10.51 GoCoin merges with Ziftr
3.10.52 Tunisia’s national payment platform
3.10.53 Digital Asset Acquired Eleventh
3.10.54 NASDAQ Blockchain in Private Market with Chain Inc.
3.10.55 AlphaPoint blockchain tool for banks
4.0 Blockchain Market Dynamics
4.1 Market and technology drivers
4.1.1 Increased blockchain within traditional financial institutions
4.1.2 Digitization for improved service realization and error prevention
4.1.3 Cloud-based service delivery models
4.2 Challenges and opportunities
4.2.1 Security issues
4.2.2 Regulation and management
4.2.3 Mergers and acquisitions
5.0 Blockchain Market Case Studies
5.1 Blockchain Asset Management and Real Estate Case Study
5.2 Blockchain Case Study for the Government of the UAE
5.3 Honeywell Aerospace creates an online marketplace for parts with Hyperledger Fabric
5.4 SGX used Amazon Managed Blockchain for an innovative payment solution
5.5 Zug Digital ID Case Study
5.6 ING Group: KYC system on blockchain
5.7 Streamlining logistics efficiency with IoT Blockchain
5.8 Case study for the palm oil industry using blockchain and IoT
6.0 Blockchain Market Outlook and Forecasts 2023 – 2028
6.1 Global Market Forecast 2023-2028
6.2 Blockchain Markets by Solution 2023 – 2028
6.3 North America Blockchain Technology Markets 2023-2028
6.4 Europe Blockchain Technology Markets 2023-2028
6.5 Asia Pacific Blockchain Technology Markets 2023-2028
6.6 Middle East & Africa Blockchain Technology Markets 2023-2028
6.7 Latin America Blockchain Technology Markets 2023-2028
7.0 Blockchain Vendor Analysis
7.1 21, Inc.
7.1.1 Company overview
7.1.2 Recent Developments
7.2 Accenture
7.3 Abra, Inc.
7.4 Alphapoint Corporation
7.5 Amazon
7.6 Baidu
7.7 Bitfury Group
7.8 Blockchain Global Limited
7.9 BlockCypher, Inc.
7.10 Bloq
7.11 BTL Group (Blockchain Tech Ltd.)
7.12 Interstellar, Inc.
7.13 Circle Internet Financial Limited
7.14 Coin base
7.15 Coinfirm Ltd.
7.16 ConsenSys Systems
7.17 credits
7.18 Dell Technologies
7.19 Deloitte Touche Tohmatsu
7.20 Digital Asset Holdings
7.21 Digitalx Ltd.
7.22 DMG Blockchain Solutions
7.23 Earthport (Visa)
7.24 Factom Inc.
7.25 Fidelity Investments
7.26 Global Arena Holding, Inc.
7.27 hp
7.28 Holo
7.29 HyperLedger
7.30 IBM Corporation
7.31 Intelligence
7.32 IOTA
7.33 Libra Services, Inc.
7.34 Linux Foundation
7.35 Microsoft Corporation
7.36 Monax
7.37 NASDAQ
7.38 Overstock
7.39 R3
7.40 Ripple
7.41 ShoCard (Ping Identity)
7.42 TenCent
8.0 Conclusions and recommendations
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