Blockchain Market



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The blockchain market is expected to grow at a CAGR 61.08% rate during the forecast period. The increasing need for simplifying the business processes and need for supply chain management applications integrated with the blockchain technology will drive the market.

Smart contracts application segment to grow at the highest rate during the forecast period. Smart contracts deployed over the blockchain network guarantees that the contract terms and conditions cannot be modified. The blockchain technology makes it impossible for third parties to hack or tamper the data in contracts. Organizations across industry verticals, therefore, are deploying blockchain-based smart contracts to reduce the costs of verification, execution, arbitration, and fraud prevention.

SMEs segment to grow at a higher rate in the market during the forecast period, owing to a need for streamlining the business processes cost-effectively across SMEs. The adoption of the blockchain technology is currently in the experimentation phase in most of the SMEs, however, the adoption rate in the SMEs segment is expected to increase significantly in the coming years, owing to the low infrastructure costs and transparency.

BFSI industry vertical to hold the largest market share. The BFSI industry vertical has realized the significance of the blockchain technology which helps secure transactions for customers. The blockchain technology in the BFSI industry vertical is expected to experience rapid growth worldwide, due to various factors, such as high compatibility with the financial services industry ecosystem, rising cryptocurrencies and Initial Coin Offerings (ICOs), rapid transactions, and reduced total cost of ownership.

North America is estimated to hold the largest share in the market. Early adoption of blockchain technologies by the organizations in the region and the emergence of several blockchain technology providers will contribute to the overall share of the market. Businesses in North America have recognized the potential of the blockchain technology in delivering enhanced customer experiences, hence they have started adopting the technology to develop business applications.

Key market players include IBM (US), AWS (US), Microsoft (US), SAP (Germany), Intel (US), Oracle (US), Bitfury (US), Cegeka (Netherlands), Earthport (UK), Guardtime (Estonia), Digital Asset Holdings (US), Chain (US), Huawei (China), BlockCypher (US), Symbiont (US), BigchainDB ( Germany), Applied Blockchain (UK), RecordsKeeper (Gibraltar), Blockpoint (US), Auxesis Group (India), BTL Group (Canada), Blockchain Foundry (Singapore), AlphaPoint (US), and Factom (US).

Key Questions addressed by the report

  • Which are the new market segments to focus over the next 2–5 years for prioritizing the efforts and investments?
  • Which are the key players in the market and how intense is the competition?
  • What are the innovations and developments done by major market players?
  • What are the driving factors, opportunitites, restraints, and challenges for the Blockchain Market?
  • What are the regulatory implications that impact the market directly and indirectly?


Market Definition

Study Scope

Study Period


2. Research Methodology

Secondary Research

Primary Research

Research Design

Data Validation

Limitation and Assumptions

3. Executive Overview

4. Market Overview





5. Blockchain Market, By Application 

Digital Identity

Governance, Risk, and Compliance Management

Smart Contracts





6. Blockchain Market, By Industry Vertical

IT and Telecommunication

Healthcare and Life Sciences


Media and Entertainment


Travel and Hospitality

Transportation and Logistics

Retail and E-Commerce


7. Blockchain Market, By Provider

Infrastructure and Protocols Provider

Application and Solution Provider

Middleware Provider

8. Blockchain Market, By Organization Size


Large Enterprises

9. Blockchain Market, By Region

North America









       Rest of Europe

Asia Pacific



       South Korea



       Rest of APAC

Middle East


       Saudi Arabia

       Rest of Middle East

Rest of the World

       Latin America


10. Company Profiles







Digital Asset Holdings

BTL Group


11. Appendix



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