Blockchain Technology: Market Research Report

December 2017 | 274 pages | ID: B14EADDB07EEN
Global Industry Analysts, Inc

Abstracts

This report analyzes the worldwide markets for Blockchain Technology in US$ Thousand. The Global market is analyzed by the following Types and Applications - Types: Hybrid Blockchain, Private Blockchain, and Public Blockchain; Applications: Application, Transportation, Telecom & Media, Financial Services, Healthcare, and Others. The report provides separate comprehensive analytics for the US, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2022. Market data and analytics are derived from primary and secondary research.

Company profiles are primarily based on public domain information including company URLs.

The report profiles 124 companies including many key and niche players such as -

• AlphaPoint Corporation
• Blockchain Global
• Blockchain Tech Ltd.
• BlockCypher, Inc.
• Bloq

Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

Blockchain, The Technological Essence of Bitcoin, Emerges to Disrupt the Digital Economy
The Promise of Decentralized Internet…
Moving Beyond Bitcoin
Revolutionizing Benefits of Blockchain that Double Up as Powerful Growth Drivers
Decentralized Database, Immutability, Encrypted Blocks and Elimination of Intermediaries – Inimitable Benefits of Blockchain Technology to Propel Market Growth
The Three Generations of Blockchain Technology
Asia-Pacific to Spearhead Growth in Blockchain Technology Sphere
While Financial Services Sector Leads Blockchain Applications, Non-Finance Sectors Look to Catch-up with Investigational Blockchain-based Initiatives
Next-Generation Blockchain Innovations to Foster Development of New Applications
Public Blockchain Networks Dominate Market Revenues
Noteworthy Trends & Issues
Widening Network of IoT Systems to Power Blockchain Implementations

Table 1. Expanding Internet of Things (IoT) Networks to Intensify Demand for Blockchain-based Platforms: Worldwide Installed Base of Internet of Things (IoT) - Number of Connected Devices in Billion Units by Category for 2016 and 2020 (includes corresponding Graph/Chart)

Blockchain Assumes Critical Role as a Tool for Enabling Financial Inclusion of the Unbanked

Table 2. World’s Unbanked Population Provides Opportunity for Blockchain Technology - Percentage of Adult Population Not Using Formal or Semiformal Financial Services by Geographic Region (includes corresponding Graph/Chart)

Venture Capitalists Flock to Fund Blockchain Companies: An Indication of the High Growth Potential of Blockchain Technology

Table 3. Venture Capital Funding for Blockchain Technology in US$ Million for the Years 2013 through 2015 (includes corresponding Graph/Chart)

Table 4. A Peek at Major VC Funding Deals in Blockchain Technology Space for 2016 & 2017

Blockchain as a Service (BaaS): The Latest Cloud-based Weapon Promising to Transform Business Processes
Smart Contracts: Among the Most Promising Use Cases of Distributed Ledger Technology
Industry-wide Collaborations: Critical for Developing Practical Applications of Blockchain
Existing Regulatory Framework & Infrastructure Limitations Impede Wider Adoption of Blockchain Technology

2. THE BLOCKCHAIN ECOSYSTEM

Intense Competition Characterizes Blockchain Technology Landscape
Startups in Blockchain Space
A Review of Select Startups in Blockchain Technology Market
A Glance at Major Blockchain Platforms
A Glance at Major Blockchain Consortiums
Hyperledger Project
Post Trade Distributed Ledger Group
R3 CEV
Global Payments Steering Group (GPSG)
Financial Blockchain Shenzhen Consortium (FBSC)
Japan Blockchain Association (JBA)
Financial Blockchain Shenzhen Consortium (FBSC)
Payment Companies Foray into Blockchain Space: A Step Closer to Mainstream Status for Blockchain Applications?
Patents-Seeking Finance Industry Shifts Gear, Looks to Adopt Open Source Strategy for Blockchain Technology

3. APPLICATIONS & USE CASES OF BLOCKCHAIN TECHNOLOGY – A REVIEW

Use Cases of Blockchain Technology by End-Use Sector
Cryptographic Digital Currencies: The Foremost Application of Blockchain Technology
Central Banks Ponder Creation of Digital Currencies using Blockchain Technology
Bitcoin – Blockchain Technology’s Leading Application under Pressure from Regulatory Scrutiny & Security Issues

Table 5. Global Bitcoin Market - Annual and Cumulative Venture Capital Investments in US$ Million for the Years 2012 through 2016 (includes corresponding Graph/Chart)

Table 6. Bitcoin Market Worldwide (2016): Percentage Breakdown of Cumulative Bitcoin VC Investments by Sector - Exchange, Financial Services, Infrastructure, Mining, Payment Processor, Universal and Wallet (includes corresponding Graph/Chart)

Table 7. World Distribution of Bitcoin Nodes (Jan 2017) - Percentage Breakdown of Number of Reachable Nodes by Country (includes corresponding Graph/Chart)

Table 8. China Leads Bitcoin Mining Pools Worldwide (2016): Percentage Breakdown by Hashrate Distribution of Bitcoin Mining Pools (includes corresponding Graph/Chart)

Financial Services Industry: Blockchain to Improve Transparency, Security, Immutability & Accessibility of Financial Systems & Processes
Financial Services Industry – A Glance at Major Use Cases of Blockchain Technology
Blockchain & Distributed Ledger: Revolutionary Concepts for the Financial Services Industry

Table 9. Financial Services Sector Leads Use Case of Blockchain Technology Adoption Worldwide (2016) - Percentage Breakdown of Number of Use Cases of Non-Bitcoin Blockchain Solutions for Arts & Entertainment, Consumer, Financial Services, Healthcare, Public Sector and Others (includes corresponding Graph/Chart)

Table 10. Blockchain Technology Adoption in Financial Services Industry Worldwide (2016) - Percentage Breakdown of Number of Use Cases of Non-Bitcoin Blockchain Solutions for Identity, Insurance, Payments, Register of Ownership and Securities (includes corresponding Graph/Chart)

Banks Turn to Blockchain Technology for Improving Efficiency of Banking Operations

Table 11. Growing Interest of Banks in Blockchain-based Applications - Blockchain Technology Spending in $ Million by Banks for the Years 2016, 2018 & 2020 (includes corresponding Graph/Chart)

Table 12. Rise in Online Banking Fraud Related Losses Drives Interest in Building Blockchain-Based Banking Systems for Foolproof Security: World Online Banking Fraud Losses (in US$ Billion) for the Years 2010, 2012, 2015 and 2018 (includes corresponding Graph/Chart)

Global Exchanges – Blockchain Platforms Essential to Establish Trust

Table 13. Revenue Exposure of Public Equity Markets to Underlying Infrastructure Assets for the Year 2016 (includes corresponding Graph/Chart)

Capital Markets: Blockchain to Resolve with Data Duplication, Reconciliation Errors and Settlement Delays

Table 14. European Listed Exchanges Market - Percentage Breakdown of Revenues across Listed European Exchanges for Capital Markets, Derivatives, Indices, Market Data, Post Trade and Others for 2016 (includes corresponding Graph/Chart)

Wealth & Asset Management Industry Turns to Blockchain for Reducing Costs & Delays

Table 15. Potential Cost Savings (in £ Billion) for the UK Asset Management Industry with Blockchain-Enabled Cost Reduction (in %) in Middle/Back Office Functions (includes corresponding Graph/Chart)

Insurance Sector Seeks Blockchain-based Systems to Detect Fraud or Errors
Regulatory Cooperation: A Must for Successful Blockchain Adoption in Financial Services Sector
Blockchain in Healthcare Industry: Despite Optimism Practical Applications to Take Years to Realize
Blockchain Seeks to Address Inefficiencies of Public Sector & Government Agencies
Blockchain-Enabled E-Voting: Could this be the Future of Organizational & National Voting?
Promising Future for Blockchain Technology in Media & Telecommunications Sector
Media & Entertainment: Blockchain to Affect Compensation & Payments
Blockchain Comes to the Aid of Music Industry for Resolving Royalty Payments and Licensing Issues
Self-Driving Cars, Auto Finance Contracts & Ridesharing: Blockchain’s Applications in Transportation Sector
Blockchain-based Cloud Storage: The Next Evolution in Enterprise Storage Solutions
Blockchain – Panacea for Various Issues Faced by the Accounting Sector?
Blockchain Holds Potential to Support Monetization of Social Media
Electricity Trading for Wind Farms – The Latest Blockchain Application being Explored
Blockchain Technology to Ensure Legitimacy of Diamond Trade
Blockchain in International Trade/Asset Transfer
Fashion Industry: Potential Role of Blockchain Technology for Improved Traceability

4. BLOCKCHAIN TECHNOLOGY – A CONCEPTUAL OVERVIEW

5. RECENT INDUSTRY ACTIVITY

Reserve Bank of India Tests Blockchain Technology for Trade Application
YES Bank Implements Multi-Nodal Blockchain Transaction Using Smart Contracts
European Banks form ‘Digital Trade Chain’ Blockchain Platform
BTL Concludes Blockchain Project with Energy Company
BNP Paribas Concludes Real-Time Blockchain Payments
WISeKey to Establish Blockchain Central of Excellence in China
ARK Crew Releases RK Token Exchange Campaign
Siemens Partners with LO3 Energy for Blockchain Microgrid
ICICI Bank and NBD Partner for Execution of Blockchain Transactions
Paxos Partners with Euroclear for Blockchain Settlement Service for Gold Market
Microsoft Collaborates with Bank of America Merrill Lynch for Blockchain
Mahindra and IBM Team Up to Develop Blockchain Solution for Supply Chain Finance
Chitkara University Begins Using Blockcha for e-Documents
UBS Expands Footprint in China’s Blockchain Space
IBM and Energy Blockchain Labs Use Blockchain for Carbon Assets
Walmart Tests Blockchain based Project for Tracking Produce
European Insurance Companies Partner for B3i Blockchain Initiative
EU Central Bank and Bank of Japan Partner for Using Blockchain Technology
OneCoin Launches OneChain Blockchain
Japanese Exchanges Form Consortium for PoC Testing of Blockchain-based System
Sompo Japan Conducts Trials Using Blockchain Technology for Risk Transfer
Tech Bureau Raises Funding for New Blockchain Products
Hitachi and BTMU to Test PoC for Blockchain-based System
Senegal to Introduce National Digital Currency Based on Blockchain
Singapore Stock Exchange Tests Blockchain Digital Currency System
Accenture Creates Blockchain Practice
RISE Financial Technologies Launches Blockchain for Post Trade Sector
Visa and China Unveil Visa B2B Connect Solution based on Blockchain
Chain Release Chain Open Standard 1 Blockchain Protocol
Microsoft Collaborates with Bank of America Merill Lynch for BaaS
R3 and MAS Partner for Blockchain Technology
BTL Acquires Xapcash
Colu Raises $9. 6 Million in Funding
DigitalX and Telefónica Collaborate
Eris Chooses Ledger as Blockchain Hardware Security Partner
German Central Bank & Deutsche Börse Develop Blockchain Prototype for Securities Trading
UK Government Conducts Trials on Blockchain-based Welfare Payments System
Santander Launches Blockchain Tech for International Payments
Electron to Implement Blockchain Technology in UK’s Energy Sector
Bank of Russia Introduces Masterchain Blockchain Prototype for Financial Markets
GoCoin Merges with Ziftr
La Poste Tunisienne and Monetas Partner for Blockchain-based Payment Platform
Digital Asset Acquires Blockstack
Nasdaq Partners with Chain for Blockchain Initiative
Nasdaq Unveils Blockchain Technology Initiative
AlphaPoint Unveils StreamCore

6. FOCUS ON SELECT PLAYERS

AlphaPoint Corporation (US)
Blockchain Global (Australia)
Blockchain Tech Ltd (Canada)
BlockCypher, Inc. (US)
Bloq (US)
Chain, Inc. (US)
Coinfirm Ltd. (UK)
Consensus Systems (US)
Credits (UK)
Digital Asset Holdings, LLC (US)
IBM (US)
Libra Services, Inc. (US)
Microsoft Corporation (US)
Monax (US)
Nasdaq (US)
ShoCard (US)
The Bitfury Group (US)
The Linux Foundation (US)

7. GLOBAL MARKET PERSPECTIVE

Table 16. World Recent Past, Current and Future Analysis for Blockchain Technology by Geographic Region - US, Japan, Europe, Asia-Pacific and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

Table 17. World 8-Year Perspective for Blockchain Technology by Geographic Region - Percentage Breakdown of Revenues for US, Japan, Europe, Asia-Pacific and Rest of World Markets for the Years 2016 and 2022 (includes corresponding Graph/Chart)

Table 18. World Recent Past, Current and Future Analysis for Blockchain Technology by Type - Hybrid, Private and Public Markets Independently Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

Table 19. World 8-Year Perspective for Blockchain Technology by Type - Percentage Breakdown of Revenues for Hybrid, Private and Public Markets for the Years 2016 and 2022 (includes corresponding Graph/Chart)

Table 20. World Recent Past, Current and Future Analysis for Blockchain Technology by Application - Transportation, Telecom & Media, Financial Services, Healthcare and Others Markets Independently Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

Table 21. World 8-Year Perspective for Blockchain Technology by Application - Percentage Breakdown of Revenues for Transportation, Telecom & Media, Financial Services, Healthcare and Others Markets for the Years 2016 and 2022 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

A. Market Analysis
Current and Future Analysis
Blockchain Technology Moves towards Mainstream Adoption
US Banks at the Forefront of Blockchain Technology Innovation

Table 22. Number of Patent Applications Filed in the Areas of Blockchain and Bitcoin for the Years 2011 through 2016 (includes corresponding Graph/Chart)

Limited Scope for Blockchain in Public Equity Exchanges, But Potential Uses in Private Equity Markets
US Government Policies to Impact Blockchain Innovations
Strategic Corporate Developments
Select Players
B. Market Analytics

Table 23. US Recent Past, Current and Future Analysis for Blockchain Technology Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

2. JAPAN

A. Market Analysis
Market Overview
Rapid Growth of Bitcoin Market in Japan Fuels Focus on Blockchain Technology
Strategic Corporate Developments
B. Market Analytics

Table 24. Japanese Recent Past, Current and Future Analysis for Blockchain Technology Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

3. EUROPE

A. Market Analysis
Market Overview
Blockchain to Promote Integration of Capital Markets in the EU
Cash-Strapped European Banks Hold Back Investments into Blockchain
Leading European Banks Develop Blockchain Solution for Small Businesses
UK: Financial Sector Adopts Blockchain and DLT Platforms
Switzerland: A Potential Hub for Blockchain Startups
Russia: Growing Interest of Financial Companies in Blockchain Technology
Strategic Corporate Developments
Select Players
B. Market Analytics

Table 25. European Recent Past, Current and Future Analysis for Blockchain Technology Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

4. ASIA-PACIFIC

A. Market Analysis
Current and Future Analysis
Overview of Select Regional Markets
Australia
China
India
Hong Kong
Strategic Corporate Developments
Select Player
B. Market Analytics

Table 26. Asia-Pacific Recent Past, Current and Future Analysis for Blockchain Technology Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)

5. REST OF WORLD

A. Market Analysis
Current and Future Analysis
Africa
Financial Services Industry Investigates Possibilities for Blockchain Adoption
Transactions and Payments without Bank Accounts
Citigroup Eyes Blockchain to Simplify Transactions
Israel
Startups Fuelling Developments in Blockchain Technology
Latin America
Rising Focus on Blockchain-based Initiatives for Various Industries
Growing Interest of Corporate Treasurers in Blockchain Technology
Strategic Corporate Developments
Select Player
B. Market Analytics
Table 27: Rest of World Recent Past, Current and Future Analysis for Blockchain Technology Analyzed with Annual Revenue Figures in US$ Thousand for the Years 2015 through 2022 (includes corresponding Graph/Chart)III-38IV. COMPETITIVE LANDSCAPE
Total Companies Profiled: 124 (including Divisions/Subsidiaries - 125)
The United States (70)
Canada (5)
Japan (2)
Europe (35)
  Germany (2)
  The United Kingdom (16)
  Spain (1)
  Rest of Europe (16)
Asia-Pacific (Excluding Japan) (9)
Middle East (3)
Africa (1)