Blockchain Distributed Ledger Market

Blockchain Distributed Ledger Market Size

Blockchain Distributed Ledger Market to surpass USD 1,074.3 Billion by 2031 from USD 4.7 Billion in 2021 at a CAGR of 64.0% in the coming years, i.e., 2022-32.

Distributed Ledger Technologies are digital (electronic) and distributed transaction ledgers that stores data blocks shared through a system of computer nodes. Precisely, a decentralized ledger that operates in an open environment is the core of blockchain technology. The information about transactions that have been carried out on the platform is included in each block of the ledger. Every computer node of the network must verify and validate a block before adding it to the ledger. The system no longer requires an intermediary to verify transactions due to this verification. The information collected in the Blockchain is never lost and acts as a verified and accurate record of every transaction that takes place within the system.

Market Highlights

The Blockchain Distributed Ledger Market is expected to project a notable CAGR of 64.0% in 2032.

The growing adoption of distributed ledger in several large and medium-sized businesses to increase their revenue opportunity and increasing awareness of blockchain distributed ledger applications among various industries are the key factors driving the growth of the global blockchain distributed ledger market.

Blockchain Distributed Ledger: Segments

The Private segment is expected to grow with a higher CAGR during 2022-32

Blockchain Distributed Ledger market is categorized on the basis of Type into Private, Public, and Hybrid. The private blockchain segment is anticipated to grow at a substantial rate during the projected period owing to augmented investments in private blockchain distributed ledger technology to boost the income possibility for banks and financial institutions and to increase market share.

The Healthcare segment is expected to grow with a higher CAGR during 2022-32

Blockchain Distributed Ledger market is categorized on the basis of application into BFSI, Government & Public, Manufacturing, Retail & E-Commerce, Media & Entertainment, Transportation & Logistics, Healthcare, Energy & Utilities, and Others. Healthcare segment witnessed a sizeable portion of revenue. The blockchain distributed ledger technology can be used to link disparate systems in order to create insights and determine the value of care more effectively. Hence, the growth of the healthcare market is primarily being driven by increased productivity and better patient health outcomes.

Market Dynamics

Growth Drivers

The Need for Enhanced Data Security of Organization

Large and medium-sized businesses must retain and distribute confidential information across the many project parties. Therefore, businesses are increasingly implementing blockchain distributed ledgers to manage this vital and transactional data with higher security. Additionally, the implementation of distributed ledger technology on the blockchain helps organizations protect their data in three key ways: by preventing identity theft, denial of service assaults, and data manipulation.

Various Benefits of Blockchain Distributed Ledger

The blockchain distributed ledger market is anticipated to observe promising growth in the near future owing to better transparency and independency of data across aid agencies, NGOs, and donors. The usage of blockchain-distributed ledgers in the retail sector offers a number of advantages, including transparent product information transmission and receipt as well as safe consumer data storage for future use.

Restraint

Low Understanding of Blockchain Distributed Ledger in Retail Sector

The deployment of blockchain distributed ledger technology is hampered by factors like lack of knowledge on the technology in the retail sector, data immutability, lack of qualified specialists, and issues with the standards. This ultimately negatively impacts the blockchain distributed ledger market.

Recent Developments

• Intercoin, a global digital currency network, and the India Blockchain Alliance came into partnership in 2021. Through the use of cryptocurrencies and NFTs, this collaboration aims to increase the visibility of the blockchain distributed ledger for enterprises, organizations, and academic institutions.
• In 2020, as per IBM, financial services businesses will continue to invest in blockchain technology, which claims to have supported in the development of more successful blockchain initiatives than any other company. Also, according to Gartner, banks will have gained more than $1 billion in value from the deployment of blockchain-based technologies.

Blockchain Distributed Ledger Market : Key Players

• International Business Machines Corporation
• AlphaPoint
• Accenture PLC
• Amazon Web Services, Inc.
• Auxesis Services & Technologies (P) Ltd.
• Digital Asset Holdings, LLC
• Blockchain Tech Ltd.
• Earthport
• Eris Industries
• Microsoft Corporation
• Huawei Technologies Co., Ltd.
• Intel Corporation
• iXledger
• NTT DATA Corporation
• Visa Inc.
• Other Prominent Players

Blockchain Distributed Ledger: Regions

The Blockchain Distributed Ledger market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2020, the Asia Pacific blockchain distributed ledger market accounted for the greatest revenue share. Rising new technology adoption is a major factor influencing market revenue growth. The adoption of a blockchain distributed ledger system is being driven by a steady shift among enterprises in Asia Pacific nations to lean and agile supply chains by implementing cutting-edge technologies.

Impact of Covid-19 on Blockchain Distributed Ledger Market

The market for blockchain distributed ledgers witnessed a downturn in the first two quarters of 2020 due to increasing corona patients around the world and the closure of numerous banks and fintech businesses. In addition to this, the market is anticipated to grow in the third and fourth quarters of 2020 due to increase in the demand for blockchain-distributed ledgers from industries including telecom operators, manufacturing, and financial institutions, among others. Due to the COVID-19 pandemic that has been imposed across several nations, there is also a strong demand to construct, store, and maintain various forms of distributed ledgers.

Blockchain Distributed Ledger is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Blockchain Distributed Ledger report also contains analysis on:

Blockchain Distributed Ledger Segments:

• By Component 
  • Solution
  • Service 
• By Type 
  • Private
  • Public
  • Hybrid 
• By Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises
• By Application
  • Payments
  • Smart Contracts
  • Supply Chain Management
  • Compliance Management
  • Trade Finance
  • Others
• By End User
  • BFSI
  • Government & Public
  • Manufacturing
  • Retail & E-Commerce
  • Media & Entertainment
  • Transportation & Logistics
  • Healthcare
  • Energy & Utilities
  • Others 
• Blockchain Distributed Ledger Market Dynamics
• Blockchain Distributed Ledger Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Blockchain Distributed Ledger Market Report Scope and Segmentation

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