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Global Blockchain Technology Market 2017-2021

Report Details

Global Blockchain Technology Market 2017-2021

SKU TCMAR1717132
Category ICT
Publisher Technavio
Pages 62
Published Feb-17
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Technavio Announces the Publication of its Research Report – Global Blockchain Technology (BT) Market 2017-2021
Technavio recognizes the following companies as the key players in the Global Blockchain Technology (BT) Market: Accenture, IBM, and Microsoft.

Other Prominent Vendors in the market are: Axoni, Abra, BTL Group, BlockCypher, BitFury Group, Chain, ConsenSys, Deloitte, Ethereum, Ezyremit, Global Arena Holding, Provenance, R3, Ripple, Scorechain,, and TATA Consultancy Services.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is the advent of artificial intelligence (AI). BT powered by AI is the most advanced IT development taking place in the blockchain and cryptocurrency market. AI provides several features to manage decentralized monetary systems. AI algorithms can be used to predict the value of bitcoins, which can help bitcoin traders to manage bitcoin transactions. In 2014, a researcher from Massachusetts Institute of Technology (MIT), US, developed a methodology to detect the price trend of cryptocurrency. The methodology uses machine learning algorithm to analyze the pricing trend of cryptocurrency to perform online trading of the currency to obtain maximum benefits. IBM has created its new business unit known as industry platforms to focus on the development of advanced BT. The R&D division of IBM is working to integrate AI technology and BT to help its blockchain clients manage distributed ledgers efficiently.”

According to the report, one driver in the market is the increase in FinTech spending. FinTech is a service provided by companies and is based on software. Over the years, the purview of FinTech has extended to include new and innovative front-end consumer products. Many FinTech startup companies provide solutions, which are operable through smartphones or tablets, directly to the customers through licensing or by means of white label services.

Further, the report states that one challenge in the market is the network privacy and security concerns. Blockchain security is one of the major concerns that have hindered the growth of the market. In 2016, Ethereum, a provider of blockchain-based distributed computing platform solutions, faced decentralized autonomous organization (DAO) attack, a type of cyber-attack that caused Ethereum to lose nearly $55 million in cryptocurrency. The Ethereum system hack instance has discouraged several cryptocurrency traders and BT users.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

About Blockchain Technology (BT) Market
Blockchain is the distributed ledger technology that is used for the management of financial transactions. Block chain facilitates peer-to-peer transactions without the use of intermediaries such as banks and governing bodies. Bitcoin is regarded as the foundation of the development of BT. BT is the most advanced and innovative distributed ledger management system that has revolutionized the payment industry. The technology is at a nascent stage but has gained popularity in a very short period. Leading financial services firms, IT companies, and manufacturing firms are testing the feasibility to implement BT on a real-time basis.

Technavio’s analysts forecast the global blockchain technology (BT) market to grow at a CAGR of 55.59% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global blockchain technology (BT) market 2017-2021. To calculate the market size, the report considers the revenue generated from the BT solutions and service providers.

The market is divided into the following segments based on geography:
• Americas

Technavio's report, Global Blockchain Technology (BT) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
• Accenture
• Microsoft
Other prominent vendors
• Axoni
• Abra
• BTL Group
• BlockCypher
• BitFury Group
• Chain
• ConsenSys
• Deloitte
• Ethereum
• Ezyremit
• Global Arena Holding
• Provenance
• R3
• Ripple
• Scorechain
• TATA Consultancy Services

Market driver
• Increase in FinTech spending
• For a full, detailed list, view our report

Market challenge
• Network privacy and security concerns
• For a full, detailed list, view our report

Market trend
• Advent of artificial intelligence (AI)
• For a full, detailed list, view our report

Key questions answered in this report
• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

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Table of Content

Table of Contents

PART 01: Executive summary 

PART 02: Scope of the report 

Market overview 
Top-vendor offerings 

PART 03: Market research methodology 

Research methodology 
Economic indicators 

PART 04: Introduction 

Key market highlights 

PART 05: Market landscape 

Market overview 
Market size and forecast 
Five forces analysis 

PART 06: Market segmentation by end-user 

Global BT market by end user 
Supply chain 

PART 07: Geographical segmentation 

Global BT market by geography 

PART 08: Market drivers 

Increase in FinTech spending 
Easier access to technology  
Disintermediation of banking services 
Digital transformation 

PART 09: Impact of drivers 

PART 10: Market challenges 

Network privacy and security concerns 
Lack of technology awareness 
System configuration concern 

PART 11: Impact of drivers and challenges 

PART 12: Market trends 

Advent of artificial intelligence (AI) 
Emergence of blockchain analytics 
Rise of blockchain as a service 
Increasing adoption of IoT 

PART 13: Vendor landscape 

Competitive landscape 

PART 14: Key vendor profile 

Other prominent vendors 

PART 15: Appendix 

List of abbreviations 

PART 16: Explore Technavio 
List of Exhibits

Exhibit 01: Major countries covered 

Exhibit 02: Product and service offerings 

Exhibit 03: Key features of blockchain 

Exhibit 04: Global BT market 2016-2021 ($ millions) 

Exhibit 05: Five forces analysis 

Exhibit 06: Global BT market by end-user 2016 

Exhibit 07: Global BT market in the BFSI sector 2016-2021 ($ millions) 

Exhibit 08: Global BT market in the supply chain sector 2016-2021 ($ millions) 

Exhibit 09: Global BT market in the healthcare sector 2016-2021 ($ millions) 

Exhibit 10: Global BT market by geography 2016 

Exhibit 11: BT market in Americas 2016-2021 ($ millions) 

Exhibit 12: BT market in EMEA 2016-2021 ($ millions) 

Exhibit 13: BT market in APAC 2016-2021 ($ millions) 

Exhibit 14: Impact of drivers 

Exhibit 15: Impact of drivers and challenges 

Exhibit 16: Completive factors in the BT market 

Exhibit 17: Accenture: IT service offerings 

Exhibit 18: Recent developments: Accenture 

Exhibit 19: IBM: Product portfolio 

Exhibit 20: IBM services 

Exhibit 21: Recent developments: IBM 

Exhibit 22: Microsoft: Microsoft Azure data services 

Exhibit 23: Recent developments: Microsoft 

Exhibit 24: Other prominent vendors  

Companies Profiled

Accenture, IBM, Microsoft, Axoni, Abra, BTL Group, BlockCypher, BitFury Group, Chain, ConsenSys, Deloitte, Ethereum, Ezyremit, Global Arena Holding, Provenance, R3, Ripple, Scorechain,, and TATA Consultancy Services.

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