BTL Group Ltd., Circle Internet Financial Limited, Digital Asset Holdings, LLC, Global Arena Holding, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Huawei Services (Hong Kong) Co., Limited., Accenture plc, Bitfury Group Limited., SpinSys, and Infosys Limited, among others, are the major players in the global blockchain technology market.
The global blockchain technology market reached a value of USD 10.41 billion in 2022. The market is further expected to grow at a CAGR of about 82.8% in the forecast period of 2023-2028 to reach a value of USD 388.44 billion by 2028. As per the analysis by Expert Market Research, the market is expected to be driven by the growing applications of blockchain technology across various end use sectors.
Blockchain technology refers to an advanced mechanism which enables transparency across an organisation. It is an unchanging ledger which records data and transactions, while tracking business assets to improve operational efficiency. It can also track production processes, accounts, and payments, etc. Technological advancements across enterprises are driving the blockchain technology market. In addition, the increasing adoption of internet of things (IoT) and growing penetration of artificial intelligence are further escalating the accessibility of these types of technologies.
The rapid transition towards smart contracts, in order to facilitate quick transactions and to carry out automated execution of corporate bond transfers, is leading to a heightened demand for blockchain technology in the payments sector. In line with this, people can initiate a transaction via the blockchain technology while sitting at home, office, or while being mobile, which makes this technology even more popular.
The rising applications of blockchain technology across various end use sectors such as government, healthcare, and retail, among others, is further bolstering the blockchain technology market dynamics. For instance, in the military and defence sector, blockchain technology is gaining traction as it can assist staff in determining the origin of arms and ammunition and track transactions which reduces risks of corruption and prevents malignant imitation.
Meanwhile, growing research and development activities across the pharmaceutical sector is heightening the deployment of blockchain technology applications and solutions to track clinical trials, improve safety, and facilitate transparency. The increasing demand for this technology in hospitals and ambulatory surgical centres for efficient patient monitoring, and reduced healthcare fees, is also expected to provide impetus to the blockchain technology market in the forecast period.
Furthermore, the thriving e-commerce sector is generating a significant demand for blockchain technology in order to improve supply chain management and remove chances of error.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
|Headquarters:||British Columbia, Canada|
BTL Group Ltd. is one of the leading blockchain technology providers which offers its solutions across various sectors. It is a first-mover in the blockchain technology sector which has innovated an enterprise-grade private blockchain platform known as Interbit. The blockchain solutions offered by this company are applied in ownership of property, financial services, contracts, identity security, and gaming, among others. The company is also dedicated towards improving the FinTech and asset management infrastructure.
|Headquarters:||Massachusetts, United States|
Circle Internet Financial Limited is a leading fintech company which provides blockchain solutions to improve the transaction processes across various sectors such as commerce, finance, and payments. The company also provides expertise in crypto currency and aims at bolstering economic prosperity across the world. Circle Internet Financial Limited is a major operator of USD coin (USCD), which is a fast-growing digital currency. The company handles more than a trillion transactions every year.
|Headquarters:||New York, United States|
Digital Asset Holdings, LLC is a prominent financial solutions provider which builds innovative technologies for banks and financial institutions. The products of this company use Daml as their core technology, which is a platform for multi-party applications. Digital Asset Holdings, LLC also helps customers reshape their businesses using innovative solutions which improve the workflow. Interconnected systems manufactured by this company also facilitate the efficiency of interconnected systems in a global networking ecosystem.
|Headquarters:||New York, United States|
Global Arena Holding, Inc. is a leading holding and technology development company which provides election services enabled by innovative technology. The company is also a heavy investor in blockchain technology with a total of three subsidiaries including Global Election Services, Inc. (GES), GAHI ACUISITION CORP., and Tidewater Energy Company. In May 2011, the company became a public company and has been offering blockchain technology solutions to cater to the demands of various end use sectors.
|Headquarters:||New York, United States|
IBM Corporation is one of the largest technology corporations across the globe which specialises in AI and machine learning, analytics, asset management, IT automation, middleware, operating systems, and quantum computing, among others. These technologies cater to the diverse demands of various end use sectors creating lucrative opportunities. The company operates across 175 countries. IBM blockchain is trusted and improves data exchange and workforce automation across various organisations including banking and financial services, healthcare and life sciences, and government, among others.
|Headquarters:||Washington, United States|
Microsoft Corporation is one of the world’s largest technology companies which provides fully managed blockchain services. It is a leading innovator in the field of computer software systems and cloud-based computing applications. The company also manufactures consumer electronics, personal computers, and tablets, among others. The product portfolio of Microsoft also includes range of operating systems, business solution applications, server management tools, video games, and training and certification services, among others.
|Headquarters:||Texas, United States|
Oracle Corporation is a leading computer software company which provides innovative solutions in the fields of AI and machine learning, analytics and BI, big data, and database and developer services, among others. The company provides technological solutions for enterprise resource planning, supply chains and manufacturing, and human capital management, to improve customer experiences. Computing software offered by this company include Java, MySQL, and Linux, among others. Oracle blockchain uses on-premise and cloud-based software which streamline the operations of various organisations.
|Headquarters:||Tsing, Hong Kong|
Huawei Services (Hong Kong) Co., Limited. is renowned technological innovator which provides high-end products and services for diversified distribution platforms. It offers app services, smart devices, media technology, security services, graphics, and artificial intelligence, among others. Blockchain technology offered by Huawei Services (Hong Kong) Co., Limited. are highly secure and easily accessible which enables users to manage and deploy applications, while improving the overall cost-effectiveness. Blockchain solutions provided by this company are flexible, efficient, and easy to use.
Accenture plc is a leading IT company which provides expertise in information technology and services. The company has a presence in around 49 countries in more than 200 cities across the world. Accenture offers innovative solutions in the field of artificial intelligence, application services, data and analytics, chain management, and blockchain technology, among others. Accenture blockchain and multiparty services cater to the supply chain, digital identity, and financial services demands.
Bitfury Group Limited is a leading full-service blockchain technology providing company which offers highly advanced blockchain services solutions such as Crystal and Exonum. Exonum is a solution which supports governments and organisations in integrating blockchain into their processes. Meanwhile, Crystal is a web-based software which helps law enforcements agencies manage investigations related to blockchain. This company aims at expanding their product offerings in the field of blockchain to revolutionise the technology sector.
|Headquarters:||Virginia, United States|
SpinSys is a business centre which provides custom web applications, scalable databases, portal frameworks, and full lifecycle services. The application services of SpinSys offer high quality software and solutions which cater to the demands of the healthcare and government sectors. This company provides high-end services related to artificial intelligence, cloud software, cyber security, blockchain, clinical genomics, and big data and analytics, among others. SpinSys also offers integrated solutions that facilitate system modernisation across various end use sectors.
Infosys Limited is a renowned information technology company which provides next-generation digital services and consulting, enabling diverse clients belonging to different sections of the society to transform digitally. The company is present in more than 50 countries. Blockchain solutions and services offered by Infosys Limited help its clients create a reliable and efficient technological ecosystem in order to bolster their operational efficiency. The digital operating modes of this company provide sustainable solutions to various end use sectors.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.