NEW YORK, May 6, 2022 /PRNewswire/ -- The Blockchain Technology Market value is set to grow by USD 6.25 billion, progressing at a CAGR of 32.39% from 2020 to 2025, as per the latest report by Technavio. The market is segmented by end-user (BFSI, government, healthcare, and others) and geography (North America, Europe, APAC, South America, and MEA).
Moreover, the increase in fintech spending is notably driving the blockchain technology market growth. The blockchain technology market report also offers information on several market vendors, including Accenture Plc, Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and Tata Consultancy Services Ltd. among others.
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Market Segmentation
The blockchain technology market share growth by the BFSI segment will be significant during the forecast period. In the BFSI sector, blockchain is being effectively used to reduce fraud, execute smart contracts, process payments, and in know-your-customer (KYC) due diligence.
43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for blockchain technology in North America. Market growth in this region will be faster than the growth of the market in regions. The BT market in North America is expected to grow due to the increasing adoption of this solution by governments. In North America, the governments of a few states are organizing trials to use BT in the elections for voting. This will facilitate the blockchain technology market growth in North America over the forecast period.
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Market Dynamics: Driver
One of the key factors driving growth in the blockchain technology market is the increase in FinTech spending. FinTech is a service provided by companies and is based on software. Over the years, the purview of FinTech has extended to include new and innovative front-end consumer products. Many FinTech start-up companies provide solutions, which are operable through smartphones or tablets, directly to the customers through licensing or by means of white label services. The global investment in the FinTech sector has increased tremendously by about 200% in a year's time. FinTech spending is directly correlated with BT spending as the FinTech companies are developing advanced payment solutions for financial firms. In the financial services sector, trading cryptocurrency will require BT to manage the distributed and decentralized ledgers. Accordingly, financial services firms have to build their ICT infrastructure to manage the high-volume transactions of cryptocurrencies such as bitcoin.
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Company Profiles
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
The blockchain technology market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Blockchain Technology Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 32.39% |
Market growth 2021-2025 | $ 6.25 billion |
Market structure | Fragmented |
YoY growth (%) | 19.00 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 43% |
Key consumer countries | US, China, UK, Canada, and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Accenture Plc, Amazon.com Inc., Huawei Investment & Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and Tata Consultancy Services Ltd. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2 Market Characteristics
Exhibit 02: Market Characteristics
2.3 Value chain analysis
Exhibit 03: IT Spending
2.3.1 Inputs
2.3.2 Software development
2.3.3 Marketing and distribution
2.3.4 Post-selling services
2.3.5 Innovation
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
Market condition - Five forces 2020
5. Market Segmentation by End-user
The segments covered in this chapter are:
5.1 Market segments
Exhibit 15: End-user - Market share 2020-2025 (%)
5.2 Comparison by End-user
Exhibit 16: Comparison by End-user
5.3 BFSI - Market size and forecast 2020-2025
Exhibit 17: BFSI - Market size and forecast 2020-2025 ($ million)
Exhibit 18: BFSI - Year-over-year growth 2020-2025 (%)
5.4 Government - Market size and forecast 2020-2025
Exhibit 19: Government - Market size and forecast 2020-2025 ($ million)
Exhibit 20: Government - Year-over-year growth 2020-2025 (%)
5.5 Healthcare - Market size and forecast 2020-2025
Exhibit 21: Healthcare - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Healthcare - Year-over-year growth 2020-2025 (%)
5.6 Others - Market size and forecast 2020-2025
Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
5.7 Market opportunity by End-user
Exhibit 25: Market opportunity by End-user
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 26: Customer landscape
7. Geographic Landscape
The regions covered in the report are:
7.1 Geographic segmentation
Exhibit 27: Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 28: Geographic comparison
7.3 North America - Market size and forecast 2020-2025
Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
7.4 Europe - Market size and forecast 2020-2025
Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
7.5 APAC - Market size and forecast 2020-2025
Exhibit 33: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
7.6 South America - Market size and forecast 2020-2025
Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
7.7 MEA - Market size and forecast 2020-2025
Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 39: Key leading countries
7.9 Market opportunity by geography
Exhibit 40: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increase in FinTech spending
8.1.2 Easier access to technology
8.1.3 Disintermediation of banking services
8.2 Market challenges
8.2.1 Network privacy and security concerns
8.2.2 Lack of technology awareness
8.2.3 System configuration concern
Exhibit 41: Impact of drivers and challenges
8.3 Market trends
8.3.1 Advent of artificial intelligence (AI)
8.3.2 Growth of quantum computing
8.3.2 Growth of quantum computing
9. Vendor Landscape
9.1 Competitive scenario
9.2 Vendor landscape
Exhibit 42: Vendor landscape
9.3 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 43: Landscape disruption
9.4 Industry risks
Exhibit 44: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 45: Vendors covered
10.2 Market positioning of vendors
Exhibit 46: Market positioning of vendors
10.3 Accenture Plc
Exhibit 47: Accenture Plc - Overview
Exhibit 48: Accenture Plc - Business segments
Exhibit 49: Accenture Plc – Key news
Exhibit 50: Accenture Plc - Key offerings
Exhibit 51: Accenture Plc - Segment focus
10.4 Amazon.com Inc.
Exhibit 52: Amazon.com Inc. - Overview
Exhibit 53: Amazon.com Inc. - Business segments
exhibit 54: Amazon.com Inc.– Key news
Exhibit 55: Amazon.com Inc. - Key offerings
Exhibit 56: Amazon.com Inc. - Segment focus
10.5 Huawei Investment & Holding Co. Ltd.
Exhibit 57: Huawei Investment & Holding Co. Ltd. - Overview
Exhibit 58: Huawei Investment & Holding Co. Ltd. - Business segments
Exhibit 59: Huawei Investment & Holding Co. Ltd. - Key news
Exhibit 60: Huawei Investment & Holding Co. Ltd. - Key offerings
Exhibit 61: Huawei Investment & Holding Co. Ltd. - Segment focus
10.6 Infosys Ltd.
Exhibit 62: Infosys Ltd. - Overview
Exhibit 63: Infosys Ltd. - Business segments
Exhibit 64: Infosys Ltd. - Key news
Exhibit 65: Infosys Ltd. - Key offerings
Exhibit 66: Infosys Ltd. - Segment focus
10.7 Intel Corp.
Exhibit 67: Intel Corp. - Overview
Exhibit 68: Intel Corp. - Business segments
Exhibit 69: Intel Corp. - Key news
Exhibit 70: Intel Corp. - Key offerings
Exhibit 71: Intel Corp. - Segment focus
10.8 International Business Machines Corp.
Exhibit 72: International Business Machines Corp. - Overview
Exhibit 73: International Business Machines Corp. - Business segments
Exhibit 74: International Business Machines Corp. - Key news
Exhibit 75: International Business Machines Corp. - Key offerings
Exhibit 76: International Business Machines Corp. - Segment focus
10.9 Microsoft Corp.
Exhibit 77: Microsoft Corp. - Overview
Exhibit 78: Microsoft Corp. - Business segments
Exhibit 79: Microsoft Corp. - Key news
Exhibit 80: Microsoft Corp. - Key offerings
Exhibit 81: Microsoft Corp. - Segment focus
10.10 Oracle Corp.
Exhibit 82: Oracle Corp. - Overview
Exhibit 83: Oracle Corp. - Business segments
Exhibit 84: Oracle Corp. - Key news
Exhibit 85: Oracle Corp. - Key offerings
Exhibit 86: Oracle Corp. - Segment focus
10.11 SAP SE
Exhibit 87: SAP SE - Overview
Exhibit 88: SAP SE - Business segments
Exhibit 89: SAP SE - Key offerings
10.12 Tata Consultancy Services Ltd.
Exhibit 90: Tata Consultancy Services Ltd. - Overview
Exhibit 91: Tata Consultancy Services Ltd. - Business segments
Exhibit 92: Tata Consultancy Services Ltd. - Key news
Exhibit 93: Tata Consultancy Services Ltd. - Key offerings
Exhibit 94: Tata Consultancy Services Ltd. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 95: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 96: Research Methodology
Exhibit 97: Validation techniques employed for market sizing
Exhibit 98: Information sources
11.4 List of abbreviations
Exhibit 99: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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