What is Blockchain Distributed Ledger Technology (DLT) Market?
A distributed ledger is the consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. Unlike with a distributed database, there is no central administrator. The distributed ledger is also permission or permissionless. This determines if anyone or only approved people can run a node to validate transactions. It is the Building block of the “internet of value,” and enables the recording of interactions and transfers of “value” peer-to-peer, without a need for a centrally coordinating entity.
Highlights from Blockchain Distributed Ledger Technology (DLT) Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Chain Inc. (United States), IBM (United States), Accenture (Ireland), Monax Industries (United Kingdom), Intel (United States), Deloitte (United Kingdom), Earthport (United Kingdom), Microsoft (United States) and Digital Asset Holdings (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 Blockchain Distributed Ledger Technology (DLT) market throughout the forecasted period.
Chain Inc. (United States), IBM (United States), Accenture (Ireland), Monax Industries (United Kingdom), Intel (United States), Deloitte (United Kingdom), Earthport (United Kingdom), Microsoft (United States) and Digital Asset Holdings (United States) are some of the key players profiled in the study. Blockchain Distributed Ledger Technology (DLT) Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Financial Transactions, Smart Property, Smart Contract, Blockchain Identity, Supply Chain Management, Digital Voting and Other |
Type | Public, Private and Consortium |
End users | Government,BFSI,Automotive,Retail & e-commerce,Media & Entertainment,Others |
Organisation Size | SMEs,Large enterprises |
On the basis of geography, the market of Blockchain Distributed Ledger Technology (DLT) 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:
Growing Adoption of Technology in Financial Services
Market Growth Drivers:
Benefits Such as Less Transaction Cost, Reduced Chance of Theft, and a Greater Anonymity than Traditional Electronic Payments.
Challenges:
Lack of Awareness about Cryptocurrency among People
Restraints:
Risk of Unknown Technical Flaws
Opportunities:
Application of Blockchain Technology in a Wide Range of Industries
Key Target Audience
Software Vendors, Banks, Government associations, Research organizations and Others
Market Leaders & Development Strategies
On June 2020, IBM acquired Spanugo Cyber security Posture Assurance for the Hybrid Cloud by automating all aspects of Risk, Cyber security, and Compliance Assurance.
Manufacturers are exploring the use of blockchain and DLT to improve supply chain transparency and traceability. Blockchain can enable secure and immutable records of transactions and movements along the supply chain, providing verifiable proof of origin, quality, and compliance. This development is particularly relevant in industries such as food and beverage, pharmaceuticals, and luxury goods.