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Blockchain Technology Market Share

Report ID: GMI2194
Published Date: Nov 2019
Report Format: PDF

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Blockchain Technology Market Share

The companies operating in the blockchain technology industry are focusing on offering innovative services along with reducing operational cost. For instance, in Q1 2019, Amazon Web Services announced that it will be launching Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain. The company will be addressing the market problem for cases where a full blockchain is not required. The product has specifically launched in the U.S. market. Additionally, in June 2018, the company joined Blockchain as a Service (BaaS) platform. This was to assist customers to test the technology without the risk of deploying new technology in-house or involving capital costs for implementation.

Some of the market players are

Alphapoint
Amazon Web Services, Inc.
Asta Solutions Pty Ltd.
Bacoor, Inc.
Blocko, Inc.
Chain, Inc.
Coinbase, Inc.
Digiledge
Digital Asset Holdings, LLC
Earthport
Exioms Technology Pvt. Ltd.
Hewlett Packard Enterprises (HPE)
Huobi
IBM Corporation
Microsoft Corporation
Paystand
Peer Ledger
R3
SAP SE
SimplyFi SofTech India Pvt. Ltd.
SmartMesh Foundation Pte. Ltd.

Authors: Preeti Wadhwani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of blockchain technology was surpassed USD 488 million in 2018.

The industry share of blockchain technology is predicted to grow at more than 69% CAGR between 2019 and 2025.

Blockchain technology is an emerging technology of distributed database, which records all the transactions & digital events executed & shared among numerous contributing parties. Each transaction across the public ledger is validated by an agreement between most of the stakeholders in the organization. It contains a demonstrable & certain record of each transaction ever executed.

Cryptocurrencies are based on blockchain technology, representing a new development across the payments landscape. Cryptocurrencies offer a lower transaction fee compared to other payment methods, which attract individuals and entities for cross-border payments as other payment methods involve higher transaction fees.

The digital identity application is estimated to grow at 78% CAGR over the next few years. Blockchain-based identity platforms have various applications in unregulated countries or countries with weak identification systems. Various governments have implemented blockchain-based identification platforms at the national level to facilitate secure & transparent transactions across private & public sectors.

Asia Pacific market share is estimated to proliferate over the forecast timeline due to rapid digitization across BFSI sector in the region. The South Korean government is investing huge amounts in startups to boost the blockchain industry in its country.