What is Public Blockchain Technology Market?
Public blockchain is permission less blockchain which means that anyone can join and read, write and participate in public blockchain. In public blockchain no one has control over the network and the data once validated cannot be changed. It is useful in the situations where anonymity of user is important to protect. Also, it’s a platform where all the users are treated equally. It has various benefits such as open read and write, distributed ledger, Immutable and Secure due to mining. These factors and benefits are increasing the usage of public block chain.
Highlights from Public Blockchain Technology Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Microsoft (United States), Deloitte (United Kingdom), KPMG (Netherlands), EY (United Kingdom), Accenture (Ireland), Cisco (United States), JP Morgan (United States), Infosys (India) and Conduent (United States) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Public Blockchain Technology market throughout the forecasted period.
IBM (United States), Microsoft (United States), Deloitte (United Kingdom), KPMG (Netherlands), EY (United Kingdom), Accenture (Ireland), Cisco (United States), JP Morgan (United States), Infosys (India) and Conduent (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Consensys (United States), R3 chain Inc. (United States), Ripple (United States) and Digital asset holdings (United States). Public Blockchain Technology Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Financial and Non-financial |
Type | Pseudo Anonymous address, PGP encryption, Encryption currency and Distributed consensus |
Components | Platform,Services |
Industry verticals | Governments,BFSI,Retail and ecommerce,Healthcare and life sciences,Transportation and logistics,Others |
Organisation size | SMEs,Large enterprises |
On the basis of geography, the market of Public Blockchain Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Investments in Block Chain and Venture Capital Funding
Market Growth Drivers:
Increasing Requirement to Simplify the Business Processes is Fueling the Market, Growing Need to Integrate Block Chain Technology with Supply Chain Management Applications and Increased Transaction Management Efficiency
Challenges:
Limited Availability of Skilled Professionals to Implement Block Chain technology
Restraints:
High Initial Investments May Hamper the Market Growth and Security Concerns
Opportunities:
Increasing Interest by Financial Institutions and Banks for Block Chain Technology and Digitization in Various Industry Sectors
Key Target Audience
Block chain technology provider, Government associations, Research organisations, Enterprises and Others
Market Leaders & Development Strategies
On 26th March 2020, Microsoft has acquired Affirmed Networks which develops mobile network solutions with gateway functionality, rich application and content delivery services and On 14 January 2019, IBM has acquired T systems’ mainframe service business
On 11th October 2019, IBM has launched new blockchain supply chain based on technologies which includes Watson AI and IBM blockchain. It enables the hybrid cloud support of data integration between manufacturers, retailers and other network participants.