The blockchain market is expected to grow from US$ 4,935.0 million in 2021 to US$ 227,996.6 million by 2028; it is estimated to grow at a CAGR of 72.9% from 2021 to 2028.
Blockchain technology and its applications in the banking, financial services, and insurance (BFSI) sector have attracted a lot of attention in the past few years, majorly due to its ability to transform existing industries' foundations and business models. Presently, apart from cryptocurrency applications, the other major practical applications of Blockchain are still in the banking and financial sector; however, various companies and institutions are now rapidly developing Blockchain-based solutions to solve complex business problems. In general terms, Blockchain is a subset of a broader distributed ledger technology (DLT), and it combines three significant concepts – cryptography, smart contracts, and distributed ledger design. Distributed ledger technology (DLT) is a fast-emerging approach that records and shares data across various data stores/ledgers. DLT facilitates the recording, sharing, and synchronization of transactions and data across a distributed network of different network participants.
The global Blockchain market is anticipated to exhibit very high growth in the near future. Major driving factors contributing to the market growth include extensive adoption of Blockchain solutions in the BFSI sector; advantages such as higher transparency, higher operational efficiency, and substantial cost savings; and an increase in the number of innovative startups. During the forecast period, trends such as rising government support and initiatives and a combination of Blockchain and artificial intelligence for advanced applications are expected to provide exciting opportunities for the players operating in the Blockchain market.
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Blockchain Market: Strategic Insights
Market Size Value in US$ 4,935.0 Million in 2021 Market Size Value by US$ 227,996.6 Million by 2028 Growth rate CAGR of 72.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Blockchain Market: Strategic Insights
| Market Size Value in | US$ 4,935.0 Million in 2021 |
| Market Size Value by | US$ 227,996.6 Million by 2028 |
| Growth rate | CAGR of 72.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Blockchain Market
Impact of COVID-19 Pandemic on Blockchain Market
While the COVID-19 pandemic has posed significant issues for organizations worldwide, the Blockchain market has grown steadily during the crisis. Most crucially, throughout the epidemic, healthcare workers have moved to use chats, emails, phones, and video conversations to treat patients remotely, preventing the virus from spreading. The use of penetration testing tools for safe online transactions and conversational data increased due to this. The adoption of the Blockchain market by various firms to give optimal security during a chaotic environment is also a crucial element driving the Blockchain market vertical. The COVID-19 pandemic has impacted all aspects of society, including individuals and corporations. The internet ecosystem has become increasingly important globally. The reliance on online enterprises has expanded dramatically due to the COVID-19 outbreak. The internet is being used by BFSI, healthcare and life sciences, manufacturing, retail, transportation and logistics, and other industries to provide critical services to consumers. The demand for a Blockchain has surged among vendors. Various governments and regulatory agencies have forced both public and private organizations to accept new techniques of teleworking and preserving social distance in the wake of the COVID-19 pandemic. Since then, digital business practices and the use of emails on home servers have become the new business continuity plan (BCP) for a variety of enterprises.
Lucrative Regions for Blockchain Market
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Blockchain Market Insights
All the major industries worldwide, including BFSI, retail, logistics & transportation, healthcare, automotive, media & entertainment, and government, are embracing and investing in disruptive technologies such as Blockchain, artificial intelligence, Internet of Things (IoT), big data, and predictive analytics. The rising adoption of Blockchain technology is driven by the successful use cases and proof of Blockchain concepts in various industries that resulted in increased transparency, enhanced operational efficiency, and reduced costs. The nature of businesses is becoming very competitive in every industry worldwide, and to compete efficiently, enterprises nowadays rely on technology integration into various business functions to increase operational transparency and efficiency.
Blockchain has several applications in the financial sector, including payments, capital markets, trade services, investment & wealth management, and securities & commodities exchanges. Substantial cost savings is one of the main drivers for the rising adoption of Blockchain in this sector.
The use of Blockchain technology made transactions more transparent across major industries. This transparency helps prevent fraud and unauthorized activities in industries, such as financial services, government, and healthcare, where sensitive data is shared among participants. Blockchain streamlines and automates the traditional, paper-heavy processes, which are time-consuming and prone to human error. This makes transactions fast and efficient, thus, increasing operational efficiency.
Cost reduction and cost savings are major priorities for any business. Blockchain eliminates unnecessary third parties or intermediaries to reduce time and costs. With all these advantages, Blockchain enables businesses to improve operational efficiency, transparency, lower operating costs, and thus, helps them enhance service quality and customer experience.
Component Segment Insights
Based on component, the blockchain market can be bifurcated into services and solution. The solution segment led the blockchain market. The increasing adoption of blockchain solutions due to their capacity to provide more transparency in financial transaction management in bitcoin, as well as increasing digitization, is propelling the blockchain market forward. Customers can use the market's blockchain platform to create private, public, and consortium-based blockchain environments and construct their own blockchain applications and solutions. People, products, apps, and services can interact across the blockchain network, cloud providers, and enterprises using these platforms.
Blockchain Market, by Component (% Share)
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Application Segment Insights
The global blockchain market is segmented into payments, exchanges, smart contracts, documentation, digital identity, governance, risk & compliance, and others. The payment segment led the blockchain market. The others segment includes digital voting, ride-sharing, advertising, and many others. Blockchain reduces cost, increases security, increases transparency, and decreases transaction time while reducing the need for a trusted third party. Blockchain handles a varying set of rules and configurations. An application such as smart contracts, can greatly improve process efficiency, reliability, transparency, and reduce risk. The prospective uses of blockchain are varied and wide, and the technology is becoming more prevailing.
Industry Vertical Type Segment Insights
Blockchain is a distributed ledger capable of automatically verifying and recording a high volume of digital transactions, regardless of location. As startups use blockchain technology to drive greater transparency across the digital information network, they are increasing the awareness of blockchain technology in various sectors. Based on industry vertical, the global Blockchain market is categorized into BFSI, retail, government, transportation & logistics, healthcare, automotive, media & entertainment, and others. The others segment includes manufacturing, real estate, power and utilities, telecom, and sports.
The Blockchain market players focus on new product innovations and developments by integrating advanced technologies and features to compete. For instance, in 2019, Carrefour and Nestle Partnered with IBM to use blockchain technology in food categories. The partnership would enable a rapid expansion of a blockchain-based network that brings more transparency to the global food supply chain of retailers, growers, wholesalers, processors, distributors, and manufacturers.
Blockchain Market – Company Profiles
- IBM Corporation
- Microsoft Corporation
- Accenture
- Amazon
- SAP Se
- Hewlett Packard Enterprise Development LP (HPE)
- Oracle Corporation
- Intel Corporation
- Ripple
- Bitfury Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, and Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Key companies in the Blockchain market include IBM Corporation, Microsoft Corporation, Accenture, Amazon Web Services, SAP Se, Hewlett Packard Enterprise Development LP (HPE), Oracle Corporation, Intel Corporation, Ripple, and Bitfury Group.
The US is a significant contributor to the blockchain market in 2020. The US accounts for the largest market share in the blockchain market. The rapid evolution of blockchain technology is witnessing the developments of new platforms, partnerships, and applications in the country. Many companies in the U.S are collaborating with blockchain startups and some of the large players. Also, with the increased digitalization of business, maintaining trust can become expensive, inefficient, and time-consuming. Blockchain improves the reliability of data and reduced chances of fraud. These factors would fuel the demand of blockchain technology in the U.S.
Based on component, the global Blockchain market is segmented into Services, and Solution. The solution segment led the Blockchain market with a market share of 67.2% in 2020. It is expected to account for 69.1% of the total market in 2028.
Artificial intelligence (AI) and its applications such as machine learning and deep learning have grown tremendously over the last few years. AI is being utilized extensively in numerous areas, ranging from cloud computing applications to digital assistants and self-driving/autonomous vehicles. With some of the most prominent tech players from the US and China, such as Google, Amazon, Apple, Facebook, Microsoft, IBM, Baidu, Alibaba, and Tencent, at the forefront of artificial intelligence research and development, this technology is expected to change the face of every industry in the coming future. Blockchain technology and Artificial intelligence are two breakthrough technologies, and they work very well in unison. Combining these two technologies helps build and organize massive databases, strengthen various cybersecurity protocols, and perform tasks in less time than humans. Artificial intelligence works on the data gathered from multiple sources to extract valuable insights related to various business processes and customer preferences while saving costs and increasing operational efficiency for companies. Using AI to collect information is the most common way to use artificial intelligence technology. This data collection and its ethical use pose difficulties in the wide adoption of AI. In this matter, Blockchain can help by storing the AI mechanisms that process data on a distributed and decentralized registry which will help in securing personal information. In Blockchain, users can determine themselves who should be given access to their personal information by using private and public keys. Artificial intelligence-powered blockchains can provide decentralized identification to protect user identity. Various companies are using Blockchain and AI together in diverse applications. For instance, VIA uses Blockchain and AI to help large energy companies conceptualize and use their data more effectively. AlphaNetworks is a Blockchain-powered entertainment platform that uses Artificial Intelligence to improve audience analytics and viewership algorithms. NetObjex is a smart city infrastructure platform that uses Blockchain, IoT, and AI to power connected devices and cloud-based products.
Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical
High Transparency and Operational Efficiency with Substantial Cost Savings
The rising Government Support and Initiatives Worldwide is anticipated to offer ample future growth opportunity to the Blockchain market solution providers over the forecast period of 2021 to 2028. The adoption of Blockchain technology is still in its nascent stages worldwide, and it is growing at different speeds in different geographies. The adoption of Blockchain in particular geography depends on government support and a favorable business environment. Blockchain technology has immense potential to transform businesses and government services. For sustainable growth of the Blockchain market, a unified regulatory framework is crucial, and it depends on the governments' will. The opportunities in various countries will grow exponentially depending on the supportive government initiatives worldwide. Various governments worldwide are coming at the forefront to help the fast adoption of Blockchain. For instance, the European Commission has recently supported signing a 27-country pact on Blockchain, known as the European Blockchain Partnership. This partnership will look into EU-wide collaboration on various regulatory and technical matters related to the Blockchain market. The EU is also planning to invest EUR 300 million in Blockchain over the next three years. On similar lines, the UAE in the Middle East has also formulated an ideal strategy for Blockchain. The focus of this strategy is to do 50% of all government transactions on Blockchain technology by 2021. Also, Sweden has announced its Blockchain-based land registry project. Moreover, the rising use cases of Blockchain in government applications is another positive sign for companies operating in this market. Some of the most common public sector use cases include digital identity, digital voting, inter & intragovernmental transactions, documentation records, and supply chain traceability. The most active governments adopting, investing, and exploring Blockchain include Japan, South Korea, Switzerland, Singapore, Australia, Russia, Canada, Chile, and the Republic of Georgia. All these examples of Blockchain use cases in the government sector and an increase in government support in various geographies are expected to provide ample opportunities to market players operating or planning to enter the Blockchain market
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Blockchain Market – By Component
1.3.2 Global Blockchain Market – By Application
1.3.3 Global Blockchain Market – By Industry Vertical
1.3.4 Global Blockchain Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Blockchain Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Blockchain Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical
5.1.2 High Transparency and Operational Efficiency with Substantial Cost Savings
5.1.3 Increase in Innovative Start-ups Worldwide
5.2 MARKET RESTRAINTS
5.2.1 Data Privacy, Confidentiality, and Security Concerns
5.2.2 Unclear Regulatory Environment
5.2.3 Interoperability, Scalability, and Sustainability Challenges
5.3 MARKET OPPORTUNITIES
5.3.1 Rising Government Support and Initiatives Worldwide
5.3.2 Increasing Demand for Blockchain-as-a-Service Due to COVID-19 Pandemic
5.4 FUTURE TRENDS
5.4.1 Combination of Blockchain and Artificial Intelligence for Advanced Applications
5.4.2 Application of Blockchain in Vaccine Manufacture and Tracking
5.5 Impact Analysis of Drivers and Restraints
6. Blockchain Market – Global Market Analysis
6.1 Global Blockchain Market Overview
6.2 Global Blockchain Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Blockchain Market – By Component
7.1 Overview
7.2 Blockchain Market , by Component (2020 and 2028)
7.3 Services
7.3.1 Overview
7.3.2 Services: Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
7.4 Solution
7.4.1 Overview
7.4.2 Solution: Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
8. Blockchain Market – By Application
8.1 Overview
8.2 Blockchain Market, by Application(2020 and 2028)
8.3 Payments
8.3.1 Overview
8.3.2 Payments: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Exchanges
8.4.1 Overview
8.4.2 Exchanges: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Smart Contracts
8.5.1 Overview
8.5.2 Smart Contracts: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Documentation
8.6.1 Overview
8.6.2 Documentation: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Digital Identity
8.7.1 Overview
8.7.2 Digital Identity: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Governance, Risk and Compliance
8.8.1 Overview
8.8.2 Governance, Risk and Compliance: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9. Blockchain Market – By Industry Vertical
9.1 Overview
9.2 Blockchain Market, by Industry Vertical(2020 and 2028)
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Retail
9.4.1 Overview
9.4.2 Retail: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Government
9.5.1 Overview
9.5.2 Government: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Transportation and Logistics
9.6.1 Overview
9.6.2 Transportation and Logistics: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Healthcare
9.7.1 Overview
9.7.2 Healthcare: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Automotive
9.8.1 Overview
9.8.2 Automotive: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Media and Entertainment
9.9.1 Overview
9.9.2 Media and Entertainment: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.10 Others
9.10.1 Overview
9.10.2 Others: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
10. Blockchain Market – Geographic Analysis
10.1 Overview
10.2 North America: Blockchain Market
10.2.1 Overview
10.2.2 North America Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.2.3 North America Blockchain Market Breakdown, By Component
10.2.4 North America Blockchain Market Breakdown, By Application
10.2.5 North America Blockchain Market Breakdown, By Industry Vertical
10.2.6 North America Blockchain Market Breakdown, by Country
10.2.6.1 US Blockchain Market, Revenue and Forecast to 2028
10.2.6.1.1 US Blockchain Market Breakdown, By Component
10.2.6.1.2 US Blockchain Market Breakdown, By Application
10.2.6.1.3 US Blockchain Market Breakdown, By Industry Vertical
10.2.6.2 Canada Blockchain Market, Revenue and Forecast to 2028
10.2.6.2.1 Canada Blockchain Market Breakdown, By Component
10.2.6.2.2 Canada Blockchain Market Breakdown, By Application
10.2.6.2.3 Canada Blockchain Market Breakdown, By Industry Vertical
10.2.6.3 Mexico Blockchain Market, Revenue and Forecast to 2028
10.2.6.3.1 Mexico Blockchain Market Breakdown, By Component
10.2.6.3.2 Mexico Blockchain Market Breakdown, By Application
10.2.6.3.3 Mexico Blockchain Market Breakdown, By Industry Vertical
10.3 Europe: Blockchain Market
10.3.1 Overview
10.3.2 Europe Blockchain Market Revenue and Forecast to 2028 (US$ million)
10.3.3 Europe Blockchain Market Breakdown, By Component
10.3.4 Europe Blockchain Market Breakdown, By Application
10.3.5 Europe Blockchain Market Breakdown, By Industry Vertical
10.3.6 Europe Blockchain Market Breakdown, by Country
10.3.6.1 Germany Blockchain Market, Revenue and Forecast to 2028
10.3.6.1.1 Germany Blockchain Market Breakdown, By Component
10.3.6.1.2 Germany Blockchain Market Breakdown, By Application
10.3.6.1.3 Germany Blockchain Market Breakdown, By Industry Vertical
10.3.6.2 France Blockchain Market, Revenue and Forecast to 2028
10.3.6.2.1 France Blockchain Market Breakdown, By Component
10.3.6.2.2 France Blockchain Market Breakdown, By Application
10.3.6.2.3 France Blockchain Market Breakdown, By Industry Vertical
10.3.6.3 Italy Blockchain Market, Revenue and Forecast to 2028
10.3.6.3.1 Italy Blockchain Market Breakdown, By Component
10.3.6.3.2 Italy Blockchain Market Breakdown, By Application
10.3.6.3.3 Italy Blockchain Market Breakdown, By Industry Vertical
10.3.6.4 UK Blockchain Market, Revenue and Forecast to 2028
10.3.6.4.1 UK Blockchain Market Breakdown, By Component
10.3.6.4.2 UK Blockchain Market Breakdown, By Application
10.3.6.4.3 UK Blockchain Market Breakdown, By Industry Vertical
10.3.6.5 Russia Blockchain Market, Revenue and Forecast to 2028
10.3.6.5.1 Russia Blockchain Market Breakdown, By Component
10.3.6.5.2 Russia Blockchain Market Breakdown, By Application
10.3.6.5.3 Russia Blockchain Market Breakdown, By Industry Vertical
10.3.6.6 Rest of Europe Blockchain Market, Revenue and Forecast to 2028
10.3.6.6.1 Rest of Europe Blockchain Market Breakdown, By Component
10.3.6.6.2 Rest of Europe Blockchain Market Breakdown, By Application
10.3.6.6.3 Rest of Europe Blockchain Market Breakdown, By Industry Vertical
10.4 APAC: Blockchain Market
10.4.1 Overview
10.4.2 APAC Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.3 APAC Blockchain Market Breakdown, By Component
10.4.4 APAC Blockchain Market Breakdown, By Application
10.4.5 APAC Blockchain Market Breakdown, By Industry Vertical
10.4.6 APAC Blockchain Market Breakdown, by Country
10.4.6.1 Australia Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.1.1 Australia Blockchain Market Breakdown, By Component
10.4.6.1.2 Australia Blockchain Market Breakdown, By Application
10.4.6.1.3 Australia Blockchain Market Breakdown, By Industry Vertical
10.4.6.2 China Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.2.1 China Blockchain Market Breakdown, By Component
10.4.6.2.2 China Blockchain Market Breakdown, By Application
10.4.6.2.3 China Blockchain Market Breakdown, By Industry Vertical
10.4.6.3 India Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.3.1 India Blockchain Market Breakdown, By Component
10.4.6.3.2 India Blockchain Market Breakdown, By Application
10.4.6.3.3 India Blockchain Market Breakdown, By Industry Vertical
10.4.6.4 Japan Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.4.1 Japan Blockchain Market Breakdown, By Component
10.4.6.4.2 Japan Blockchain Market Breakdown, By Application
10.4.6.4.3 Japan Blockchain Market Breakdown, By Industry Vertical
10.4.6.5 South Korea Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.5.1 South Korea Blockchain Market Breakdown, By Component
10.4.6.5.2 South Korea Blockchain Market Breakdown, By Application
10.4.6.5.3 South Korea Blockchain Market Breakdown, By Industry Vertical
10.4.6.6 Rest of APAC Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.6.1 Rest of APAC Blockchain Market Breakdown, By Component
10.4.6.6.2 Rest of APAC Blockchain Market Breakdown, By Application
10.4.6.6.3 Rest of APAC Blockchain Market Breakdown, By Industry Vertical
10.5 MEA: Blockchain Market
10.5.1 Overview
10.5.2 MEA Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.5.3 MEA Blockchain Market Breakdown, By Component
10.5.4 MEA Blockchain Market Breakdown, By Application
10.5.5 MEA Blockchain Market Breakdown, By Industry Vertical
10.5.6 MEA Blockchain Market Breakdown, By Country
10.5.6.1 Saudi Arabia Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.1.1 Saudi Arabia Blockchain Market Breakdown, By Component
10.5.6.1.2 Saudi Arabia Blockchain Market Breakdown, By Application
10.5.6.1.3 Saudi Arabia Blockchain Market Breakdown, By Industry Vertical
10.5.6.2 UAE Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.2.1 UAE Blockchain Market Breakdown, By Component
10.5.6.2.2 UAE Blockchain Market Breakdown, By Application
10.5.6.2.3 UAE Blockchain Market Breakdown, By Application
10.5.6.3 South Africa Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.3.1 South Africa Blockchain Market Breakdown, By Component
10.5.6.3.2 South Africa Blockchain Market Breakdown, By Application
10.5.6.3.3 South Africa Blockchain Market Breakdown, By Application
10.5.6.4 Rest of MEA Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.4.1 Rest of MEA Blockchain Market Breakdown, By Component
10.5.6.4.2 Rest of MEA Blockchain Market Breakdown, By Application
10.5.6.4.3 Rest of MEA Blockchain Market Breakdown, By Industry Vertical
10.6 SAM: Blockchain Market
10.6.1 Overview
10.6.2 SAM Blockchain Market, Revenue and Forecast to 2028 (US$ million)
10.6.3 SAM Blockchain Market Breakdown, By Component
10.6.4 SAM Blockchain Market Breakdown, By Application
10.6.5 SAM Blockchain Market Breakdown, By Industry Vertical
10.6.6 SAM Blockchain Market Breakdown, by Country
10.6.6.1 Brazil Blockchain Market, Revenue and Forecast to 2028
10.6.6.1.1 Brazil Blockchain Market Breakdown, By Component
10.6.6.1.2 Brazil Blockchain Market Breakdown, By Application
10.6.6.1.3 Brazil Blockchain Market Breakdown, By Industry Vertical
10.6.6.2 Argentina Blockchain Market, Revenue and Forecast to 2028
10.6.6.2.1 Argentina Blockchain Market Breakdown, By Component
10.6.6.2.2 Argentina Blockchain Market Breakdown, By Application
10.6.6.2.3 Argentina Blockchain Market Breakdown, By Industry Vertical
10.6.6.3 Rest of SAM Blockchain Market, Revenue and Forecast to 2028
10.6.6.3.1 Rest of SAM Blockchain Market Breakdown, By Component
10.6.6.3.2 Rest of SAM Blockchain Market Breakdown, By Application
10.6.6.3.3 Rest of SAM Blockchain Market Breakdown, By Industry Vertical
11. Impact of COVID-19 Pandemic on Blockchain Market
11.1 Overview
11.2 Impact of COVID-19 Pandemic on Global Blockchain Market
11.2.1 North America
11.2.2 Europe
11.2.3 Asia-Pacific
11.2.4 Middle East & Africa
11.2.5 South America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 IBM Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Microsoft Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Accenture
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Amazon Web Services
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 SAP SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Bitfury Group Limited
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Ripple Labs Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Hewlett Packard Enterprise Development LP (HPE)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Oracle Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Intel Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. Global Blockchain Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. North America Blockchain Market, Revenue and Forecast To 2028 – By Component (US$ million)
Table 3. North America Blockchain Market, Revenue and Forecast To 2028 – By Application (US$ million)
Table 4. North America Blockchain Market, Revenue and Forecast To 2028 – By Industry Vertical(US$ million)
Table 5. North America Blockchain Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 6. US Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 7. US Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 8. US Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 9. Canada Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 10. Canada Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 11. Canada Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 12. Mexico Blockchain Market Breakdown, By Component
Table 13. Mexico Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 14. Mexico Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 15. Europe Blockchain Market, Revenue and Forecast To 2028 – By Component (US$ million)
Table 16. Europe Blockchain Market, Revenue and Forecast To 2028 – By Application (US$ million)
Table 17. Europe Blockchain Market, Revenue and Forecast To 2028 – By Industry Vertical (US$ million)
Table 18. Europe Blockchain Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 19. Germany Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 20. Germany Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 21. Germany Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 22. France Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 23. France Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 24. France Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 25. Italy Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 26. Italy Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 27. Italy Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 28. UK Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 29. UK Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 30. UK Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 31. Russia Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 32. Russia Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 33. Russia Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 34. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 35. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 36. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 37. APAC Blockchain Market, Revenue and Forecast To 2028 – By Component (US$ million)
Table 38. APAC Blockchain Market, Revenue and Forecast To 2028 – By Application (US$ million)
Table 39. APAC Blockchain Market, Revenue and Forecast To 2028 – By Industry Vertical (US$ million)
Table 40. APAC Blockchain Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 41. Australia Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 42. Australia Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 43. Australia Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 44. China Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 45. China Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 46. China Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 47. India Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 48. India Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 49. India Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 50. Japan Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 51. Japan Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 52. Japan Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 53. South Korea Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 54. South Korea Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 55. South Korea Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 56. Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 57. Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 58. Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Vertical (US$ million)
Table 59. MEA Blockchain Market, Revenue and Forecast To 2028 – By Component (US$ million)
Table 60. MEA Blockchain Market, Revenue and Forecast To 2028 – By Application (US$ million)
Table 61. MEA Blockchain Market, Revenue and Forecast To 2028 – By Industry Vertical (US$ million)
Table 62. MEA Blockchain Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 63. Saudi Arabia Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 64. Saudi Arabia Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 65. Saudi Arabia Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 66. UAE Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 67. UAE Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 68. UAE Blockchain Market, Revenue and Forecast to 2028 – By Application(US$ million)
Table 69. South Africa Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 70. South Africa Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 71. South Africa Blockchain Market, Revenue and Forecast to 2028 – By Application(US$ million)
Table 72. Rest of MEA Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 73. Rest of MEA Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 74. Rest of MEA Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 75. SAM Blockchain Market, Revenue and Forecast To 2028 – By Component (US$ million)
Table 76. SAM Blockchain Market, Revenue and Forecast To 2028 – By Application (US$ million)
Table 77. SAM Blockchain Market, Revenue and Forecast To 2028 – By Industry Vertical (US$ million)
Table 78. SAM Blockchain Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 79. Brazil Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 80. Brazil Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 81. Brazil Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 82. Argentina Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 83. Argentina Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 84. Argentina Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 85. Rest of SAM Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 86. Rest of SAM Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 87. Rest of SAM Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 88. Glossary of Terms, Blockchain Market
LIST OF FIGURES
Figure 1. Blockchain Market Segmentation
Figure 2. Blockchain Market Segmentation – Geography
Figure 3. Blockchain Market Overview
Figure 4. Blockchain Market, By Component
Figure 5. Blockchain Market, By Application
Figure 6. Blockchain Market, By Industry Vertical
Figure 7. Blockchain Market, By Region
Figure 8. North America: PEST Analysis
Figure 9. Europe: PEST Analysis
Figure 10. APAC: PEST Analysis
Figure 11. MEA: PEST Analysis
Figure 12. SAM: PEST Analysis
Figure 13. Blockchain Market Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Blockchain Market Impact Analysis of Drivers and Restraints
Figure 16. Global Blockchain Market
Figure 17. Global Blockchain Market, Forecast and Analysis (US$ Mn)
Figure 18. Market Positioning- Top Five Players
Figure 19. Blockchain Market Revenue Share, by Component (2020 and 2028)
Figure 20. Services: Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
Figure 21. Solution: Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. Blockchain Market Revenue Share, by Application(2020 and 2028)
Figure 23. Payments: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Exchanges: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Smart Contracts: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Documentation: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Digital Identity: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Governance, Risk, and Compliance: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Others: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Blockchain Market Revenue Share, by Industry Vertical(2020 and 2028)
Figure 31. BFSI: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Retail: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Government: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Transportation and Logistics: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Healthcare: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Automotive: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Media and Entertainment: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Others: Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Global Blockchain Market Breakdown, by Region, 2020 & 2028 (%)
Figure 40. North America Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 41. North America Blockchain Market Breakdown, By Component, 2020 & 2028 (%)
Figure 42. North America Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 43. North America Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 44. North America Blockchain Market Breakdown, by Country, 2020 & 2028 (%)
Figure 45. US Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 46. Canada Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 47. Mexico Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 48. Europe Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 49. Europe Blockchain Market Breakdown, By Component, 2020 & 2028 (%)
Figure 50. Europe Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 51. Europe Blockchain Market Breakdown, By Industry Vertical, 2020 & 2028 (%)
Figure 52. Europe Blockchain Market Breakdown, by Country, 2018 & 2027(%)
Figure 53. Germany Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 54. France Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 55. Italy Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 56. UK Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 57. Russia Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 58. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 59. APAC Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 60. APAC Blockchain Market Breakdown, By Component, 2020 & 2028 (%)
Figure 61. APAC Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 62. APAC Blockchain Market Breakdown, By Industry Vertical, 2020 & 2028 (%)
Figure 63. APAC Blockchain Market Breakdown, by Country, 2020 & 2028 (%)
Figure 64. Australia Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 65. China Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 66. India Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 67. Japan Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 68. South Korea Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 69. Rest of APAC Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 70. MEA Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 71. MEA Blockchain Market Breakdown, By Component, 2020 & 2028 (%)
Figure 72. MEA Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 73. MEA Blockchain Market Breakdown, By Industry Vertical, 2020 & 2028 (%)
Figure 74. MEA Blockchain Market Breakdown, By Country, 2020 & 2028 (%)
Figure 75. Saudi Arabia Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 76. UAE Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 77. South Africa Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 78. Rest of MEA Blockchain Market, Revenue and Forecast To 2028 (US$ million)
Figure 79. SAM Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 80. SAM Blockchain Market Breakdown, By Component, 2020 & 2028 (%)
Figure 81. SAM Blockchain Market Breakdown, By Application, 2020 & 2028 (%)
Figure 82. SAM Blockchain Market Breakdown, By Industry Vertical, 2020 & 2028 (%)
Figure 83. SAM Blockchain Market Breakdown, by Country, 2020 & 2028 (%)
Figure 84. Brazil Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 85. Argentina Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 86. Rest of SAM Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 87. Impact of COVID-19 Pandemic in North American Country Markets
Figure 88. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 89. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets
The List of Companies - Blockchain Market
- IBM Corporation
- Microsoft Corporation
- Accenture
- Amazon
- SAP SE
- Bitfury Group Limited
- Ripple Labs Inc.
- Hewlett Packard Enterprise Development LP (HPE)
- Oracle Corporation
- Intel Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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