DUBLIN, February 9, 2022 /PRNewswire/ — Report “Blockchain Technology Market by Use Case, Business Model, Solutions, Services and Applications in Industry Verticals 2022 – 2027” has been added to from ResearchAndMarkets.com offer.
This report examines the technology, leading companies, and solutions in the evolving blockchain ecosystem. The report assesses current and anticipated blockchain use cases and assesses the market potential globally, regionally, and segmented by deployment type and industry vertical.
The report also assesses key players, solutions, and use cases. The report also assesses the prospect of integrating blockchain with other technologies, including IoT and artificial intelligence. The report includes detailed forecasts by use case, application, and industry verticals from 2022 to 2022.
Block technology provides some means of authentication, authorization and accounting. Blockchain and related distributed authentication and accounting technologies are poised to transform ICT, and they are doing so, driving substantial disintermediation across a wide variety of verticals.
Lessons learned in FinTech and traditional banking from the deployment and operation of decentralized authentication, clearing and settlement will be applied to many telecommunications and IT problems to benefit many verticals of industry. The impact will be far-reaching, ranging from investment/trade to the legal cannabis industry, and very profound in terms of changes in supply chains and relationships between suppliers, customers and peers.
The integration and operation of Blockchain technology will redefine the operation of various industries, greatly improving efficiency and reducing the cost of doing business. For example, start-ups have been launched to provide microchip software and hardware that facilitates the operation of connected devices on the blockchain. The products were designed to encrypt data, distribute information to blockchain-connected machines, and monetize those machines.
An important technology integration area is the Internet of Things (IoT), which is a very promising area as we anticipate the use of Blockchain in IoT networks/systems to be one of the most important ways to authenticate and authorize transactions.
For example, HYPR provides solutions to reduce cybersecurity risks in IoT devices through its decentralized approach to credentials. Their products reduce the need for passwords in a centralized server, replacing them with biometric and other passwordless solutions. This provides IoT devices that are virtually impossible to hack from a social engineering perspective.
Another important area for blockchain in telecommunications is resource identity, including ownership tracking and custody of assets such as phone numbers. Developments in this area can be leveraged to significantly improve enterprise identity verification for voice and non-voice communications with consumers.
We also see Blockchain as a Service (BaaS) as a key service offering for many market segments as a means of introducing solutions and scaling through a cloud services model. For example, AI in supply chain management solutions combined with blockchain technology market solutions to dramatically improve SCM.
Select report results:
- Distributed ledgers and other blockchain capabilities are growing rapidly outside of finance
- Blockchain Technology Market to grow at 62.73% CAGR through 2027 to reach $65 billion
- Substantial blockchain opportunities include data decentralization, data usage control, and encryption
- Consortium / hybrid blockchain will be the largest North America blockchain technology zone at $7.8 billion by 2027
- The preponderance of blockchain revenue will come from three types of services: Blockchain-as-a-Service (BaaS), Cloud Computing (hosting and data as a service) and Systems Integration
- Companies like Accenture will lead the systems integration load and companies like Amazon, Dell, HPE and IBM will lead BaaS and Cloud Computing. Other companies will fill important niche roles.
Blockchain Market Dynamics
Market and technology drivers
- Blockchain increased within traditional financial institutions
- Digitization for better service delivery and error prevention
- Cloud-based service delivery models
Challenges and Opportunities
- Security issues
- Regulation and Governance
- Mergers and Acquisitions
Important Blockchain Consortia and Associations
- R3cev Blockchain Consortium
- Post-Trade Distributed Ledger Group
- Hyperledger Project
- Global Payments Steering Group
- Shenzhen Financial Blockchain Consortium
- Ledger Cu
- Blockchain Collaborative Consortium
- Wall Street Blockchain Alliance
- Japan Blockchain Association
- Korea Financial Investment Association
- Nimbrix Consortium
Blockchain Solutions Across Industry Verticals
- Japan Exchange Group Blockchain Consortium
- Walmart blockchain for food security
- Blockchain Ubitquity in real estate
- HYPR and Blockchain Biometrics
- Whaleclub Trading backed by Blockchain
- EasyBit extends the Bitcoin ATM network to Vietnam
- Blockchain technology as a way to declare love and marriage
- Bitcoin boosts the solar energy industry
- LO3 Energy and Siemens Blockchain for Microgrids
- MasterCard Blockchain API
- ConsenSys and UAE Partnership for Blockchain Projects
- People’s Bank of China Digital Currency
- China suspends bitcoin withdrawals
- Huiyin Group Bitcoin Fund
- BitFury and Blockchain Group
- Reserve Bank of India Blockchain Technology for Business Applications
- YES Bank to Multi-nodal Blockchain Solution for Bajaj Electricals
- European Bank Digital Trade Channel
- The BTL group will test the Interbit platform with energy companies
- BNP Paribas tests blockchain-based real-time corporate payments
- WISeKey to Establish an IoT Blockchain Center of Excellence
- ARK Crew Testnet for Blockchain
- Transactions based on the ICICI Bank and NBD blockchain
- PAXOS blockchain for gold settlement with Euroclear
- Microsoft and BAML Blockchain Improve Trade Finance
- Mahindra Group’s Blockchain Solution with IBM
- Chitkara University Blockchain for Electronic Documents
- UBS extends the blockchain by China
- Authorized Blockchain Network of IBM China and UnionPay
- IBM and Beijing Energy-Blockchain Labs use blockchain for carbon trading
- The European Central Bank and the Central Bank of Japan are exploring blockchain
- OneCoin Enhanced Blockchain
- Sompo Japan uses blockchain for disasters and weather derivatives
- Tech Office and Zaif Bitcoin Exchange
- Hitachi and BTMU use Blockchain to issue bank checks
- National digital currency of Senegal
- Singapore blockchain for electronic payment system
- Blockchain practice Accenture and Digital Asset Holdings
- RISE Financial Technologies Post-Trade Blockchain Technology
- VISA will introduce a blockchain-based solution for payment services
- Chain Inc. released the Open Source Blockchain Protocol
- Currencies based on Colu and Blockchain
- DigitalX partnership with Telefonica
- Eris Industries partners with Ledger to improve blockchain hardware security
- Partnership between Monax Industries and Ledger for blockchain hardware security
- German Central Bank, Deutsche Bundesbank Blockchain Trading Prototype
- UK Trials Blockchain Welfare Payment System
- Blockchain Santander for international payments
- Blockchain Electron Ethereum in the UK energy sector
- Bank of Russia tests Masterchain
- GoCoin merges with Ziftr
- National payment platform in Tunisia
- Digital asset acquired Elevation
- Blockchain NASDAQ in the private market with Chain Inc.
- AlphaPoint Blockchain Tool for Banks
Blockchain Market Case Studies
- Blockchain Asset Management and Real Estate Case Study
- Blockchain Case Study for UAE Government
- Honeywell Aerospace Creates Online Parts Marketplace with Hyperledger Fabric
- SGX used Amazon Managed Blockchain for an innovative payment solution
- Zug digital ID case study
- ING Group: KYC system on Blockchain
- Streamline Logistics Efficiency with IoT Blockchain
- Palm Oil Industry Case Study Using Blockchain and IoT
Analysis of blockchain providers
- 21, Inc.
- Abra, Inc.
- Alphapoint Corporation
- Bitfury Group
- Blockchain Global Limited
- BlockCypher, Inc.
- BTL Group (Blockchain Tech Ltd.)
- Interstellar, Inc.
- Financial Internet Circle Limited
- Coinfirm Ltd.
- ConsenSys Systems
- Dell Technologies
- Deloitte Touche Tohmatsu
- Digital asset holdings
- Digitalx Ltd.
- DMG Blockchain Solutions
- Earthport (Visa)
- Factom inc.
- Loyalty investments
- GlobalArena Holding, Inc.
- IBM Corporation
- Libra Services, Inc.
- Linux Foundation
- Microsoft Corporation
- Recent development
- ShoCard (Ping Identity)
For more information about this report visit https://www.researchandmarkets.com/r/11guw1
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