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There has been much ado about blockchain: a distributed data verification technology wherein financial and operational transactions are recorded and validated across a network, rather than through a central authority. This “distributed ledger” technology can be confounding as enterprises wrestle with how best to utilize it, but at the same time blockchain promises radically different approaches and efficiencies for transaction processing, asset management, intra-organizational execution, and identity management. The technology that began with Bitcoin is enjoying a blossoming beyond cryptocurrency and the transfer of money, to an architecture able to support many types of transactions, from logging an event, to signing a document, to allocating energy between parties, and far beyond. In the last year alone, over a hundred financial institutions, more than two dozen governments, and countless corporations and venture capitalists have invested more than $1 billion into blockchain startups. But through the fog of hype lies the sobering reality that this is a market of extreme nascence and fragmentation; a notable void of in-production or at-scale implementations; and a lack of regulatory, legal, governance, collaborative, economic, digital, and even cultural precedent. Despite significant hurdles, however, blockchain has the potential to impact a wide variety of industries. Tractica’s analysis has identified 29 distinct use cases for enterprise blockchain, many of which offer significant advantages in terms of cost savings, efficiency, security, and compliance compared to traditional systems and business processes. Tractica forecasts that annual revenue for enterprise applications of blockchain will increase from approximately $2.5 billion worldwide in 2016 to $19.9 billion by 2025, representing a compound annual growth rate (CAGR) of 26.2%. This Tractica report examines market trends, technology issues, key use cases, and industry players in the rapidly evolving enterprise blockchain sector. The study includes granular market sizing and revenue forecasts for 29 use cases spanning 19 industries, segmented by implementation category and world region, for the 10-year period from 2016 through 2025. The report also includes in-depth profiles of 22 key industry players. Key Questions Addressed:- What are the key use cases for distributed ledger technologies within various industry sectors?
- What is the current state of the blockchain market and what drivers and barriers will shape its development over the next 5-10 years?
- What are the key business benefits for organizations implementing distributed ledger technologies?
- What are some of the key barriers to adoption and growth of blockchain in enterprise markets?
- Who are the key players in the enterprise blockchain market, what is their competitive positioning, and which ones are poised for greatest success?
- What is the size of the blockchain market opportunity and how does it vary by industry and use case?
Who Needs This Report?- Enterprise end-user organizations
- Enterprise software companies
- Blockchain/distributed ledger technology companies
- Blockchain/distributed ledger technology companies Semiconductor and component vendors
- Service providers and systems integrators
- Government agencies
- Investor community
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