About Industrial Blockchain
Blockchain in industrial markets has proven particularly successful, spanning adoption from manufacturing to retail. Increased investments are focused on solutions that can create more streamlined operations and efficient processes, and eventually complement digital transformation strategies. The growth is mainly driven by demand in the food and beverage, transport and storage, retail and consumer, and healthcare sectors. Blockchain can address operational inefficiencies, complex logistics, accountability, and auditing issues, as well as intellectual property theft. Blockchain can be especially valuable when used alongside digital transformation strategies that aim to create agile and lean supply chain management systems. Innovative applications have successfully leveraged blockchain with new connectivity and automation technologies, Internet of Things (IoT) devices and platforms, cloud and edge computing, Machine Learning (ML) and Artificial Intelligence (AI) technologies, etc.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Industrial Blockchain market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), AWS (United States), Microsoft (United States), SAP (Germany), Intel (United States), Oracle (United States), Deloitte Touche Tohmatsu Limited (United Kingdom), BTL Group (Canada), Applied Blockchain (United Kingdom) and Infosys (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NTT Data (Japan), Factom (United States), SpinSys (United States), ConsenSys (United States), Digital Asset Holdings (United States), Chain (United States), Huawei (China), BlockCypher (United States) and Symbiont (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Blockchain market by , Application (Logistics and Supply Chain Management, Counterfeit Management, Quality Control and Compliance and Others) and Region.
On the basis of geography, the market of Industrial Blockchain 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). North America, Europe region held largest market share in the year 2023. If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprises will boost the Industrial Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use Industry, the sub-segment i.e. Healthcare will boost the Industrial Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Providers, the sub-segment i.e. Application Providers will boost the Industrial Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Platform (Public, Private, Hybrid) will boost the Industrial Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Blockchain-as-a-Service Solutions for Enterprises
Market Growth Drivers:
Increasing Venture Capital Funding and Investments in Blockchain Technology, Increasing Popularity of Blockchain Technology in Retail and Supply Chain Management and Simplifies Business Processes and Reduces Cost of Production
Challenges:
Security, Privacy, and Control of Blockchain Transactions and Opposition from Incumbents
Restraints:
Absence of Common Set of Standards and Regulatory Bodies, Uncertain Regulatory and Compliance Environment and Limited Availability of Technical Skillsets to Implement the Blockchain Technology
Opportunities:
Increasing Demand for Real-Time Data Analysis, Enhanced Visibility, and Proactive Maintenance and Rising Government Initiatives
Market Leaders and their expansionary development strategies
In September 2018, Chain has been acquired by Lightyear, a subsidiary of the Stellar Development Foundation, to form the combined company called Interstellar. The companies have joined forces to develop enhanced cryptographic ledgers to make financial services smarter, more secure, and more connected.
In February 2020, Microsoft integrated Lition blockchain into Azure so that Microsoft Azure’s worldwide enterprise clients can develop, test, and deploy Lition side chains and applications with ease on its platform. and In January 2020, IBM and Digital Asset Holdings (DAH) upgraded the Hyperledger Fabric. Developers can write smart contracts written in widely adopted programming languages, such as Go, Java, and Javascript that support Ethereum’s Solidity smart contracts language
Key Target Audience
Industrial Blockchain Service Providers, Software Developers and Integrators, Enterprises, Potential Investors, End-use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.