The global Blockchain market is expected to grow at a CAGR of 42.8% (2017-2022), resulting in a global revenue of USD 13.96 billion by 2022.
https://www.researchonglobalmarkets.com/global-blockchain-technology-market-2014-2022.html
For the full report please write to info@netscribes.com
3. 3
Market Scope and Segmentation
InterventionalCardiologyMarket
Segments Sub-Segments
North America Europe Asia Pacific Latin America Middle East & Africa
Region
Public Blockchain
Technology
Private Blockchain
Technology
Mixed Blockchain
Technology
INDUSTRY
TYPE
BFS (Banking And
Finance Services)
Insurance Supply Chain
Management
Healthcare Others
4. 4
1.2-Key Questions Answered in This Study
BlockchainTechnologyMarket
What is the global market revenue of the Blockchain technology market?
What is the future of the Blockchain technology market?
What are the factors instrumental in changing the market scenario?
What are the drivers, restraints and trends in the market?
What is the competitive scenario of the global blockchain technology market?
What are the strategies of the key market players?
How have competitors performed in 2016?
What are the respective market shares and the opportunities associated with blockchain
technology products in various regions around the world?
What are the regions with maximum opportunity for growth in the blockchain technology
market?
What are the macro and micro factors that affect the global blockchain technology market?
What are the investment opportunities in the blockchain technology market?
5. • Lack of legal infrastructure
• Poor understanding of the technology and beyond the reach of small players
• Posing challenge on financial intermediaries
• Confusion between traditional database and block storing the transaction data
• Ideology crash with the corporate culture
• The financial institutions make the maximum use of Blockchain technology for cross border payments and fraud detection
• Increasing adoption of private block chain globally as it offers more secured transaction system
• The North America region accounted for the largest share in 2016 and is expected to dominate the overall market in the near future,
however Asia Pacific is also expected to acquire this technology at a faster rate owing to its wide adoption in China and India
• Gradually trending towards wider range of applications including Healthcare, Retail and Public sector among others
• Rapid increase in Fin-tech spending
• Transaction data fully encrypted and the recorded transaction are linked via “hashtag”
• Decentralized technology which does not require intermediaries, has wider range of Application
• Very less time required for transaction, less than 10 minutes over 24/7
• Transparent and immutability transaction, reduces the total cost of the transaction
• Block-chain market is expected to reach USD XX.XX bn by 2022 at CAGR of XX.XX% between 2016 and 2022
• Presently, public block chain dominates the market. However, private block chain technology is gaining acceptance because of its secure
nature since it allows the access of the transaction data to the limited user.
• Block-chain technology is being widely accepted in the BFSI industries. However, based on investment trends. it is expected to have a growing
application in retail and supply chain
5
Executive Summary I
Overview
Trends
X.X X.X
X.X
2016 2017 2022
USD bn
7. Primary Application – BFSI Use Cases and Key Inventions
2.3-Blockchain Technology - Use Cases
• Banks usually spend over 60 million on maintaining customers
informations including KYC and AML (anti money laundering)
• Bankchain is a community created by 22 Indian banks including
State Bank of India, Axis Bank, DCB Bank and five Middle East
banks to build and explore the Blockchain Technology
• SBI has planned to launch KYC on blockchain by December
2017
s
• IBM developed Digital Trade Chain, an open Blockchain
Business based on Hyperledger Fabricto enhance the trade
Finance between the seven European banks including
Deutsche Bank, HSBC, etc.
• Barclays have joined, JP Morgan Chase, Bank of China and
Goldman Sachs to focus on Blockchain technology application
in Foreign exchange and settlement
• Traditional insurance companies like AXA and Generali have
started investing in Blockchain technology to process
insurance claims more securely
• HSBC, Bank of America Merrill lynch joined IBM to implement
Blockchain Solution In Trade Finance
• A Start-up company named AXONI received funding from JP
Morgan Chase to develop Blockchain solutions for the Capital
Market
• Credit Suisse is focusing on building Blockchain solutions for
Capital Market
• Nasdaq has an alliance with Linq that allows companies to
display share ownerships using Blockchain technology digitally
7
9. Blockchain technology is the decentralized public ledger, used for crypto currency transactions. The detail of transactions are stored in blocks, and each block is connected to each other
via a “hashtag” like a chain. The system boasts complete details of users’ identity and credit/debit balance right from the previous block to the most recently finished block. The
blockchain technology is the underlying technology behind Bitcoin
9
3.1-Global - Market Overview
XX.XX
XX.XX
XX.XX
XX.XX
XX.XX
XX.XX
XX.XX
2016 2017 2018 2019 2020 2021 2022
• The worldwide market is forecast to reach USD
XX.XX bn by 2022, primarily driven by increased
adoption the BFSI sector as a risk controlling
measure
• The transparent nature of the technology has
driven its adoption across other industries
including healthcare and retail
• North America dominates the global Blockchain
market acquiring a share of 44% primarily
because the region has large number of
financial transactions and cross-border
payments
• Asia Pacific has registered the highest growth
rate owing to the increasing application of
Blockchain in China and the adjoining countries
Market Drivers
Global historical and forecasted market revenue (USD bn)
CAGR (2017-2022): X.X%
USD
XX.XXbn
CAGR(2017-
2022) XX.XX%
USD
XX.XXbn
CAGR(2017-
2022) XX.XX%
USD
XX.XXbn
CAGR(2017-
2022) XX.XX%
USD
XX.XXbn
CAGR(2017-
2022) XX.XX%
USD
XX.XXbn
CAGR(2017-
2022) XX.XX%
Geography wise market revenue (USD bn) in 2016
NorthAmerica
Europe
AsiaPacific
LatinAmerica
MEA
10. 10
Global - Market Trend
Future trend
Adopting the
BFSI industry
Application in
other Domain
XX.XX XX.XX XX.XX
XX.XX
XX.XX
2015 2016 2017 2018 2019
Capital Market investment in
Blockchain Technology
28% XX% XX%
2016 2017 2018
Insurers are partnering with fintech
firms to adopt this technology
~XX% of the bank are expected
to adopt the technology by 2020
6 of the largest banks -Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and
State Street teamed up to create a new form of digital currency to streamline financial transactions over
Blockchain
Since the Blockchain technology is primarily being adopted in BFSI, private Blockchain adoption is expected to increase due its more secure nature
R3 CEV is helping to create private
block chain. Over 40 global stand
company like UBS, Barclays, JP
Morgan, royal Bank of Scotland, etc.
have supported R3 CEV
Ethereum alliance focuses on building private
block chain by acquiring huge investment from
large corporates. Companies using Private block
chain to provide financial services are Gems,
Chain , ripple ,symbiont, ledger, etc.
~XX% payment companies are planning
to adopt this technology by 2020
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The technology is gradually being adopted across various domain for e.g.; Healthcare management and supply chain management
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Emerging Application
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Blockchain technology is primarily being adopted by BFSI companies due to its transparent nature and improved security system
Banks are looking to adopt
private Blockchain as it only
allows access to authorized users,
eliminating the risk of fraud with
a public system and offering the
benefit of a decentralized system
Banks supporting
private Blockchain
adoption
12. 12
4.1-North America - Market Overview
Growth Drivers
North America
0.75 XX.XX
XX.XX
XX.XX
XX.XX
XX.XX
XX.XX
2016 2017 2018 2019 2020 2021 2022
CAGR (2017-2022): XX.XX%
Market revenue (USD bn)
Challenges
Major Trends
.
Traditional tech companies are introducing partnership
programs to support the fintech start-ups in blockchain
deployment. Red Hat has announced the OpenShift Blockchain
Initiative, designed to help ISVs and fintech start-ups power
blockchain solutions through container application platform
technology
• With US and Canada adopting the technology swiftly,
a large share of the Blockchain market is dominated
by North America
• The region records the largest number of
financial transactions and cyber security
remains one of the key concerns for the
organizations
• Currently the region is looking to enhance its security
infrastructure in order to mitigate the huge loss of
USD 1.3bn experienced in 2016, as per FBI report
• North American bank’s are facing hurdle in
maintaining customer identities. To overcome the
problem banks are expected to acquire Blockchain
technology to provide transparent system for easy
customer identification
North American Government is encouraging companies in
the region to replace Excel spreadsheets and SQL databases
with blockchain system. The government has introduced a
new law, permitting companies to keep their list of
shareholders on a blockchain
• North America is lagging behind in blockchain adoption in four key
areas where the trailblazers are leading: citizen services, regulatory
compliance, identity authentication and contract management
• The lack of awareness regarding digital payment has created lot of
debate on its regulations. Additionally North America's dominance
in terms of global Bitcoin and blockchain deals has reduced from
78.7% to 49.2% from 2013 to 2016
In a move to further accelerate the adoption of blockchain, The
State of Delaware has passed amendments for Equity markets,
allowing companies to issue and trade shares via a blockchain
based platform
14. 14
5.1.1-Major Industries Overview– North America
BFS
Insurance
Supply
Chain
Healthcare
other
2017
USDXX.XX
bn
37%
22%
16%
19%
6%
BFS
Insurance
Supply Chain
Healthcare
other
2022
USDXX.XX
bn
Revenue contribution Industries– North America
Drivers for the Major Industries- North America
In North America the BFSI sector makes the maximum use of blockchain
technology. About 70% of North America’s banks are using this technology. The
banking industry has already filed 20 new patent related to blockchain in addition
to 15 patent submitted to USPTO (US Patent and Trademark Office)
North America is projected to hold a significant share of global healthcare blockchain market
because the technology was early adopted by the developed countries and has wide services
owing to extensive ongoing research in the region
The governor of Delaware have passed bill to mandate the adoption of blockchain
technology for stock trading and record keeping purpose. This would drive the
blockchain adoption by the same entities.
Notable Blockchain start-ups companies (funding)
North America
Paxos (USD 28.25 mn)
Bitaccess (USD10
mn)
Ripple (USD 93.6 mn)
Bristlecone (USD 6 mn)
Gem (USD12.5 mn)
Providing Blockchain solutions to
financial institutions.
Provide Healthcare, insurance, supply
chain solutions using Blockchain
technology
Belongs to Fortune 500 companies
Provides Blockchain solution to Fintech
business Blockchain solution
Provide Blockchain solution for
Global payment
Provides supply chain solutions and
service using block-chain technology.
Total US Funding (2012-14 Feb 2017) 1,060 USD bn
16. Blockchain technology has enormous economic potential and there is no doubt that financial services industry is looking forward to obtaining patents to protect concepts and technologies related to
blockchain—and to assert control over the use of the idea in new trading platforms through such patent rights.
16
7.1. Patent Overview
2010 2011 2012 2013 2014 2015 2016 2017
• The year 2016 represents significant numbers of
Blockchain patent application. There was a 53% growth as
compared to the preceding year
• According to US Patent and Trademark Office (USPTO)
database, in 2017, 309 Patents were applied between
January and June
• Most of the patents were awarded in 2011-2012.
However, the applications in 2015-2016 saw only 50%
chance of success. The number of patents granted in 2013
was 70 which increased to 152 in 2016. However, the
patent reward declined over the time
Key Observations
Global Blockchain Technology related Patent Applications (2010-2017)
Key Highlights
• World Economic Forum stated that more than 25 countries have filled 2500 patents and invested 1.3 billion in blockchain technology
• IBM is performing well with Blockchain Technology. The company has recently taken up many Blockchain initiatives and ranks second in filling Blockchain related patents
• US has published 665 Blockchain related patent. North America is leading the Blockchain market as well as the Blockchain related patents application
• US is followed by China in patent application. China is the most emerging country within Asia pacific to work with Blockchain technology. China’s Blockchain technology application in supply chain,
transaction is the reason that Asia pacific has the highest CAGR.
• Blockchain technology is mostly used in financial transactions and hence the most of blockchain related patent is applied on this particular domain.
17. • The number of blockchain and cryptocurrency-related
patent applications submitted and published in the US
nearly doubled in 2017
• China is increasing in Blockchain related patents
applications after the US. Chinese blockchain technology
start-up Bubi (Beijing) filled 27 and South Korean Bitcoin
service provider Coinplug applied 21
• 2017, US published 18 Blockchain related patents
followed by China with 15 patents
• The payment card giant of China UnionPay, patent a
system for connecting a network of ATMs using
blockchain technology. The concept is to group ATMs that
would act as a node within a technology powered by
blockchain to secure transactions
• Countries like Canada, south Korea, Brazil Taiwan India
have not yet Published any patent in the present year
Total Patents published by the Top 10 Countries
Countries 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
United States XX XX XX XX XX XX XX XX XX XX XX
China XX XX XX XX XX XX XX XX XX XX XX
Japan XX XX XX XX XX XX XX XX XX XX XX
Australia XX XX XX XX XX XX XX XX XX XX XX
Canada XX XX XX XX XX XX XX XX XX XX XX
Korea south XX XX XX XX XX XX XX XX XX XX XX
Brazil XX XX XX XX XX XX XX XX XX XX XX
India XX XX XX XX XX XX XX XX XX XX XX
Taiwan XX XX XX XX XX XX XX XX XX XX XX
Germany XX XX XX XX XX XX XX XX XX XX XX
united States China Japan Australia Canada Korea south Brazil India Taiwan Germany
Blockchain patents published by top 10 countries (2007-2017)
Note:- We have not Considered WO(World Intellectual Property Organization) and EP(European Patent Offices) as in
the top 10 blockchain patent published because they do not fall under country
7.3. Patent analysis- Geographical Presence
19. 19
• Year of establishment: 4TH April 1975
• Headquarters: Redmond, Washington, US
• Employee Strength (2016): 114,000
• Industry: Software-developer
• Ticker: NASDAQ: MSFT
• Website: www.microsoft.com
Company snapshot
Geography presence-Blockchain
Focus Area- Blockchain Recent Initiatives
• Microsoft partnered with Los Angeles-based start-up firm Mojix in
January 2017 under the project “Manifest” to use Blockchain
technology and track retail goods by radio frequency identification
devices
• Leading Danish shipping company Maersk partnered with EY,
Microsoft, Willis Towers Watson and several insurance companies to
secure shipping data on Blockchain databases
• On August 2017, Microsoft declared that they are developing a system
that would speed up the Blockchain performance called Coco
(confidential Consortium) in collaboration with Intel. This initiative
would solve the issue of speed and privacy and would also increase
technology adoption. Microsoft is expected to launch the system by
2018
• In 2017, Microsoft announced the launch of Azure Government Cloud
based on blockchain technology. The cloud would ensure the
government to securely store public databases
• On October 2017, Wisekey, a leading cybersecurity and IOT solution
company collaborated with Microsoft to help the Rwanda government
make secured transactions using Blockchain technology
Key verticals-Blockchain
Revenue
(2016)
USD 85.3
bn
Microsoft corporation
• North America
• Europe
• Asia pacific
• Latin America
• Middle east
Africa
Key people - Blockchain Financial Standings Blockchain Offerings
• Retail Management-Microsoft is
focused on using Blockchain
technology to address the paper work,
specification in retail management
within supply chain management
• Blockchain awareness-Microsoft is
providing Blockchain solutions and
services for companies adopting the
technology and increasing awareness
about its benefits
• State usage- Microsoft is also helping
the public sector to adopt Blockchain
technology to securely maintain public
documents on the platform
Jason Zander,
Corporate Vice-
president,
Microsoft Azure
Net Income USD 16,798
mn
Profit Margin
(%)
19.7%
Gross Margin 61.5%
• ViZix IoT Blockchain
• Syscoin API
• Stratis Full Node
• Dev test lab for Blockchain
services
• Syscoin price peg server
• Waves platform
• Quorum Demo
• Chain Core Developer
Edition
• Trade Finance
• AZURE Blockchain Services
• AZURE Blockchain Services
• Emercoin blockchain Engine
• Azure Multimember
Blockchain
• Block App multimode
Blockchain
• Block APP single node
Blockchain
• Syscoin Full node
• Finance
• Retail
• Government
• Healthcare
Marley Gray
Principal Architect - Azure
Blockchain Engineering,
Board of Directors -
Enterprise Ethereum Alliance
21. Start-up Overview
Blockchain
Start-up
companies
CLIENTS/PARTNERS
RECENT INITIATIVES
• In March 2017, the US blockchain start-up chain collaborated with security firm
Thale group to allow the companies using Blockchain technology to store data
under colossal security
• In Consensus 2017, the CEO of Chain announced that two financial institutes CITI
and stock exchange Nasdaq who are keen on tackling the liquidity issue, have
chosen to leverage technology solutions from Chain
KEY PEOPLE
Devin Gundry
Founder of Chain, Chief
Product Officer
Adam Ludwin
Founder & Chief
Executive Officer
• Description-It is a Software developer. It allows the
business to use the software to design, deploy and
operate Blockchain network.
• FOUNDED ON- 2014
• OPERATION STATUS- Active
• NUMBER OF EMPLOYEES- 101-250
• WEBSITE- www.r3.com
• Total Funding Amount- USD 43.7 MN
OVERVIEW
INVESTORS
• KHOSLA
• Capital one
• CITI
• FISERV
• NASDAQ
• PANTERA
• RRE
• Description-The company develops the decentralized
application, the various end-user tools for Blockchain
ecosystem. Primarily focuses on Ethereum
• FOUNDED ON- 2014
• OPERATION STATUS- Active
• NUMBER OF EMPLOYEES- 101-250
• WEBSITE- www.consensys.net
• Total Funding Amount- Internal investment, currently
USD 5 million announced on 5th October 2017
OVERVIEW KEY PEOPLE
Joseph Lubin
CTO & Founder
E.G. Galano
Co-Founder, Infura
INVESTORS
• Internal investment
• Investor unknown for the
fund received on 5th October
2017
CLIENTS/PARTNERS
• In 2017, ConsenSys declared the opening of ConsenSys Academy. That would
help developers become familiar with the fast-growing technology and work on
application that is disrupting industry across globe
• Cisco System Inc., Bosch Ltd joined other companies like ConsenSys in order to
launch Consortium Blockchain to secure and improve the Blockchain application
in the IOT(Internet of Thing)
• ConsenSys and Metax have jointly developed ADchain, a Blockchain-based open
protocol required in the digital advertising industry.
RECENT INITIATIVES
21
23. Appendix
23
List of Tables
Industry 2016 2017 2018 2019 2020 2021 2022
CAGR(2017-
2022)
BFS XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX%
Insurance XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX%
Supply Chain XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX%
Healthcare XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX%
Other XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX%
Table 6:North America Segment by Industry (2017 – 2022) value in USD bn
24. Appendix
24
Assumptions
All the values are in USD (united States Dollar) billion
The CAGR is used to define growth over the period of years that stands for Compound
Annual Growth Rate
No significant new competition has been considered while forecasting the market
No unexpected changes in the external factors have been considered that could change
the global scenario of the market in the future
No major technological development has been taken into consideration that may replace
Blockchain Technology market in the coming years
The inflation rate has not been taken into consideration while forecasting the revenue
25. Appendix
25
Research Methodology
The study begins with identifying the right research question(s). The question depends on what we are going to achieve by conducting the research or what we want
to convey to the prospective customers through this research. Next, we identify the logical steps to arrive needed to arrive at the answers to the question(s). These
logical steps form our research objectives. The research objectives provide us a guideline regarding what information we need to conduct analysis. We strongly
believe that well-defined objectives will lead to clear results about the given market
The next stage of the research is conducted utilizing the secondary sources of information, using a process called desk/secondary research. Netscribes Inc. has a
considerable volume of information in both quantitative and qualitative forms, across all major industries and its sectors. Also, we conduct an in-depth study of the
market, understanding its key stakeholders, drivers, trends, challenges and global opportunities covering major regions such as North America, Latin America, Europe,
Asia Pacific, and Middle East & Africa. The key sources referred to for this research includes (but not limited to) the following:
Financial reports published by the key market players
Government and other official sources including the National Statistics
National and International trade associations
Paid databases
Other reliable sources
Primary research complements the secondary research as it helps us gain insights from the industries directly by communicating with the senior executives, key
opinion leaders and independent consultants who are experts in their industries or specific industry sectors. Such interviews are conducted across the value chain of
the market in question. A survey questionnaire is usually prepared for conducting any primary interview or survey. The questionnaire is developed with utmost care to
fulfil the key research objectives and also to validate the assumptions about the market. This supplements the information otherwise unaddressed via secondary
research. The primary data collection is done by expert interviewers who have specific industry knowledge. Linguists are hired to conduct interviews in the
respondent’s native language. Only paid interviews are conducted to incentivize the respondents and ensure that there is no shift of focus. Some of the primary
research methods applied at Netscribes include the following:
In-depth Interviews
Executive Interviews
Expert Panels
The qualitative and quantitative findings from the above stages are brought together by specialists to perform a rigorous analysis. The regional market trends, drivers,
and opportunities obtained during the analysis is compared with regional economic indicators, sector growth rates, population index, etc. to ensure data consistency.
After ensuring the consistency, these historical and present indicators help us to understand how the market will perform in future. Our proprietary forecasting model
factors in all these indicators to predict the future market accurately.
26. Appendix
26
About Netscribes Inc.
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27. Thank You for Your Attention
27
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