Global Blockchain Distributed Ledger Technology Market to Reflect Impressive Growth Rate by 2025
Global Blockchain Distributed Ledger Technology Market Size Forecast To Exceed USD 32 Billion By 2025
[USPRwire, Mon May 06 2019] The global Blockchain DLT market size is estimated to be USD 32.76 Billion by 2025 growing at a double digit CAGR during the forecast period 2018 to 2025. The increasing awareness about the advantages of Blockchain DLT such as decentralization, higher security, and almost equal to zero fraud probability is positively impacting the adoption of the Blockchain DLT. Blockchain also opens up a lot of new business opportunities for firms operating in predictive data analytics. As real time data is stored and available using Blockchain which can be used by data analysts and data scientists to predict the future trends.
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Among Blockchain DLT types segment, the private Blockchain type is expected to grow at the fastest CAGR during the forecast period achieving a market size of USD 11.79 billion in 2025. The private Blockchain adoption is expected to increase with increasing adoption of Blockchain DLT by the private firms. As the enterprise level adoption of Blockchain is expected to increase the private or consortium type Blockchain DLT’s market is expected to increase. As due to security reason most of enterprises are expected to use Private Blockchain DLT and use public Blockchain only when the data is to be shared with the consumers and end customers.
Among the application segment, the application of Blockchain DLT in expected to be fastest in supply chain management. The application of Blockchain in supply chain management is expected to increase at a CAGR of 58.25% during the forecast period. Most of the Supply chain management firms are planning to implement Blockchain DLT technology. As Blockchain allows to track transactions securely and transparently, supply chain companies are planning to make use of Blockchain to efficiently verify, record and track products. This will help supply chain companies to manage their resources more efficiently and even reduce the dependence on intermediaries to large extent.
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China Blockchain DLT Market (USD Million)
Geographically, North America led the Blockchain DLT market in terms of value in 2017 and is expected to maintain its top position during the forecast period reaching a market value of USD 15.33 Billion in 2025. China is trying to catch US by making a lot of developments and initiatives to adopt Blockchain and leverage it in the country’s smart city projects. Europe the second largest Blockchain DLT market is also making a lot of efforts to adopt Blockchain DLT in various sectors. The European Union (EU) countries have formed a joint association to research and develop Blockchain applications and make joint efforts instead of making fragmented efforts. This will positively impact in the growth of the European Blockchain DLT market.
Some of the leading players operating in the market include IBM, Microsoft, Intel Corporation, Deloitte, ConSensys, Electron, Blockcypher, CoinFabrik and Chain. Companies are forming collaborations with governments and within themselves to develop and offer Blockchain solutions globally.
Key segments of the global Blockchain DLT market
Global Blockchain DLT Market, by Type
- Public Blockchain
- Private Blockchain
- Federated/Consortium Blockchain
Global Blockchain DLT Market, by Industry
- Financial Services
- Media & Entertainment
- Retail & E-commerce
- Others – (manufacturing, energy & utilities, professional services, technology services)
Global Blockchain DLT Market, by Application
- Financial transactions
- Smart Property
- Smart Contracts
- Blockchain Identity
- Supply chain Management
- Digital voting
Global Blockchain DLT Market Overview, by Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle-East & Africa
What does the report include?
- The study on the global Blockchain DLT market includes qualitative factors such as drivers restraints and opportunities
- Additionally, the market has been evaluated using the REST and Impact analysis.
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, industry, application, and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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