The “Blockchain Technology Market by Use Case, Business Model, Solutions, Services and Applications in Industry Verticals 2021 – 2026” report examines the technology, companies, and solutions in the evolving blockchain ecosystem. The report evaluates current and anticipated use cases for blockchain and assesses the market potential globally, regionally, and segmented by deployment type and industry vertical.
Effects of the blockchain integration
Blockchain and related distributed authentication and accounting technologies are poised to transform ICT. Lessons learned in FinTech and traditional banking from the deployment and operation of decentralized authentication, clearing and settlement will be applied towards many telecom and computing problems for the benefit of many industry verticals.
Integration and operation of Blockchain technology will redefine how various industries operate, dramatically improving efficiencies, and reduce the cost of doing business. One important technology integration area is the Internet of Things (IoT), which is a very promising area as we anticipate that the use of Blockchain in IoT networks/systems will be one of the most important means for authenticating and authorizing transactions.
Highlights of the report
- Distributed ledgers and other blockchain capabilities are rapidly expanding outside finance
- The blockchain technology market will grow at 62.73% CAGR through 2026 reaching $52.5 billion
- Substantial blockchain opportunities include data decentralization, data usage control, and encryption
- Consortium/hybrid blockchain will be the largest North America blockchain tech area at $6.7 billion by 2026
- The preponderance of blockchain revenue will be derived from three types of services: Blockchain-as-a-Service (BaaS), Cloud Computing (hosting and data as a service), and Systems Integration
- Companies like Accenture will lead the charge for systems integration and companies like Amazon, Dell, HPE, and IBM will lead for BaaS and cloud computing. Other companies will fill important niche roles.
- Anticipate substantial M&A activity in this space as deals such as Ping Identity acquisition of ShoCard become more common. Block technology provides a certain means of authentication, authorization, and accounting.
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