What is Blockchain In Security Market?
Blockchain security is a risk management system for a blockchain network that employs cybersecurity frameworks, assurance services, and best practices to limit the risk of attacks and fraud. Blockchain technology creates a data structure with built-in security features. It is built on cryptography, decentralization, and consensus principles, which assure transaction trust.
Highlights from Blockchain In Security Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Microsoft (United States), Amazon Web Services (United States), SAP(Germany), Intel (United States), Oracle (United States), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (United Kingdom), Guardtime (United States), Digital Asset Holdings (United States), Chain (United States), Huawei (China), BlockCypher (United States), Symbiont (United States), BigchainDB (Germany), Applied Blockchain (United Kingdom), BlockPoint (United States) and Auxesis Group (India) |
The market's competitive environment is highly fragmented. To improve their market positions, market players are focusing on collaborations, product innovation, research and development, acquisitions, and regional expansion. Market companies are also concentrating on improving their product offerings in order to better respond to changing consumer requirements and remain competitive. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockchain In Security market throughout the forecasted period.
IBM (United States), Microsoft (United States), Amazon Web Services (United States), SAP(Germany), Intel (United States), Oracle (United States), Bitfury (Netherlands), Cegeka (Netherlands), Earthport (United Kingdom), Guardtime (United States), Digital Asset Holdings (United States), Chain (United States), Huawei (China), BlockCypher (United States), Symbiont (United States), BigchainDB (Germany), Applied Blockchain (United Kingdom), BlockPoint (United States) and Auxesis Group (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Blockchain Foundry (United Kingdom), NTT Data (Japan) and Infosys (India). Blockchain In Security Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Transportation and Logistics, Agriculture and Food, Manufacturing, Energy and Utilities, Healthcare and Life Sciences, Media, Advertising, and Entertainment, Banking and Financial Services, Insurance, IT and Telecom, Retail and eCommerce, Government and Others |
Type | Public blockchains, Private blockchains, Permissionless Blockchains and Permissioned Blockchains |
Organization Size | Small and Medium Enterprises,Large Enterprises |
Component | Platform,Service |
Providers | Application Providers,Middleware Providers,Infrastructure Providers |
Security Mode | Identity and access management,Key management,Data privacy,Secure communication,Smart contract security,Transaction endorsement |
On the basis of geography, the market of Blockchain In Security 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:
Trending IoT and Centralized Network and Digitalization of Cryptocurrency as a Public Ledger
Market Growth Drivers:
Increasing Cyber-Attack and Fraud and Need of Decentralize Internet On Things Network In Order To Improve Speed And Connectivity
Challenges:
The issue in Scalability and Consumption of too much Energy will hamper the Blockchain in Security Market and Lack of Multiple Experts in Blockchain Technology can hinder the Blockchain in Security Market
Restraints:
High Investment Cost Implementation Can Constrain the Blockchain in Security Market
Opportunities:
Growing Number of SMEs that Use Blockchain Technologies and Application Leads the Use of Blockchain in the Security Market and Government Compliance for Implementing Blockchain Security in Organizations is Fueling the Blockchain in Security Market
Key Target Audience
Blockchain in Security Providers, Blockchain in Security Association, Blockchain in Security International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others
Market Leaders & Development Strategies
On 22 Oct 2020, IBM announced the partnership with R3, an enterprise software firm to expand Blockchain Capabilities and Services across the hybrid cloud. New Partnership aimed at giving clients more options for expanding blockchain technology while maintaining the greatest standards of performance, compliance, and data protection. Enterprises are rapidly developing blockchain solutions that provide enhanced security and data privacy capabilities while also solving performance concerns. IBM LinuxONE provides a highly secure platform certified to meet the highest level of security certification commercially available for clients with highly sensitive data and workloads spread across hybrid cloud environments, such as digital identity, digital assets, central bank digital currencies, tokens, and payment information.
On 05 March 2019, IBM launched that its X-force security team will provide a blockchain security testing service. The service will try to identify security flaws as well as improve security. Penetration testers will look at both the backend and the ledger itself, as well as any public key infrastructure. Because blockchain is a relatively new technology, it presents distinct attack vectors from established applications.