The Blockchain Market is projected to reach $403.36 billion by 2030, at a CAGR of 67.7% during the forecast period of 2023 to 2030. The growth of the blockchain market is driven by the rising demand for secure and transparent transactions in the BFSI sector, a surge in the need to prevent data tampering in the healthcare sector, and the growing popularity of cryptocurrency. Furthermore, leveraging blockchain among SMEs and the increasing adoption of blockchain by retailers are expected to create significant opportunities for this market. However, the high implementation cost hampers the growth of this market. In addition, regulatory uncertainty and lack of interoperability between blockchain ecosystems pose major challenges to the growth of this market.
Here are the top 10 companies operating in the Blockchain Market
Founded in 1911 and headquartered in New York, U.S., IBM Corporation is a leading provider of blockchain solutions and services. It provides services and solutions that improve, from backend processes to front-end customer experiences, across financial and non-financial industries.
IBM’s blockchain solutions provide a way to remove longstanding friction, create new solutions and deliver tangible business results. The company provides its solutions and services to various industries, including education and consumer services, as well as institutional investors and retail banking firms. The company provides its blockchain services in four categories: anti-fraud, anti-money laundering, artificial intelligence, and operational risk management. The company operates through five segments: Software, Consulting, Infrastructure, Financing and Other.
Founded in 1975 and headquartered in Washington, U.S., Microsoft is a multinational technology company that provides software products such as Internet Explorer, Microsoft Windows OS, Microsoft Office Suite, and Edge Web browser. The company operates through three business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The company markets its products through Microsoft retail stores, original equipment manufacturers, distributors, and online stores. Furthermore, it offers blockchain technology, such as Microsoft Azure IoT, to boost business and improve the efficiency of the overall supply chain.
Founded in 2006 and headquartered in Washington, U.S., Amazon Web Services provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. The company offers IT infrastructure services to businesses through web services, commonly known as cloud computing. The company designs, develops, manufactures products, and installs complex systems and projects. It provides a highly reliable, scalable, low-cost infrastructure platform in the cloud that powers many businesses worldwide. The AWS Cloud Computing platform provides the flexibility to launch applications regardless of use case or industry. The company’s Infrastructure is the most secure, extensive, and reliable cloud platform, offering over 200 fully featured services from data centers globally.
Founded in 1989 and headquartered in Dublin, Ireland, Accenture plc is a leading professional services company with significant capabilities in the blockchain market. It offers a financial service called FinTech Innovation Lab, a 12-week program that helps industries refine and test their value proposition with the support of the leading financial service firms. The company offers blockchain services such as clearing and settlement, trade finance, cross-border payments, insurance, anti-money laundering (AML), and know-your-customer (KYL). It provides various blockchain services for major industries such as banking, capital markets, and insurance. The company operates through five segments: Communications, Media & Technology, Financial Services, Health & Public Service, and Products and Resources.
Established in 1977 and headquartered in California, U.S., Oracle is a multinational corporation specializing in computer technology. It operates through three distinct business segments: Cloud and License, Hardware, and Services. Oracle Corporation provides fintech innovations by offering world-class platforms and ecosystems for financial services. The company provides innovation with industry-leading platforms built on blockchain technology and works with fintech startup companies to deploy innovative products. Its software segment includes single and multi-server configurations for on-premises and cloud-enabled environments. Oracle’s products are used in various industry verticals such as manufacturing, retail, communications, healthcare, and the public sector.
Meticulous Research in its latest publication on Blockchain Market has predicted the growth of 67.7% during the forecast year 2023-2030.
Founded in 1981 and headquartered in Bengaluru, India, Infosys Limited is a multinational information technology (IT) firm that offers business consulting, information technology (IT) and outsourcing services. Infosys offers customized solutions and services for blockchain enterprises, including fleet management, supply chain management, warehouse, and cargo management, to streamline operations while boosting asset utilization. The company operates through eight business segments: Financial Services, Retail, Communication, Energy Utilities, Resources and Services, Manufacturing, Hi-Tech, Life Sciences and Others. The company has a geographical presence across Europe, the Americas, the Middle East, Latin America, and Asia-Pacific through its subsidiaries and a strong distribution network. Some of its subsidiaries are Infosys BPM (India) and EdgeVerve (India).
Founded in 1945 and headquartered in Karnataka, India, Wipro Limited is a global information technology, consulting, and business process services company. It is widely known for offering a wide range of IT services and solutions, including consulting, system integration, digital strategy, and application development, and its involvement in blockchain technology.
Wipro offers blockchain solutions across different sectors, such as finance, supply chain, healthcare, and manufacturing. These solutions leverage blockchain technology to enhance transparency, security, and efficiency in various business processes. It actively collaborates with leading blockchain platforms, technology providers, and consortiums to develop and deploy blockchain solutions. The company works with organizations such as Hyperledger, Ethereum, R3 Corda, and more to leverage their technologies for building scalable and interoperable blockchain solutions.
TATA CONSULTANCY SERVICES LIMITED
Founded in 1968 and headquartered in Maharashtra, India, TCS is a global IT services and consulting company offering blockchain consulting, development, and implementation services. The company’s Blockchain Center of Excellence focuses on research, innovation, and creating solutions using blockchain technology.
TCS has collaborated with various industry partners to develop blockchain solutions in supply chain management, financial services, healthcare, and other sectors. The company participates in consortiums and initiatives aimed at exploring the potential of blockchain in different sectors. It operates through six business segments: Banking, Financial Services and Insurance; Manufacturing; Retail and Consumer Business; Communication, Media and Technology; Life Sciences and Healthcare; and Others.
Founded in 1968 and headquartered in California, U.S., Intel Corporation designs and manufactures high-valued semiconductor chips. It supplies processors for computer system manufacturers, such as Apple, Inc., Lenovo (formerly IBM), Hewlett Packard, Inc., and Dell. In addition, it manufactures motherboard chipsets, network interface controllers & integrated circuits, flash memory, graphics chips, embedded processors, and other devices related to communications and computing.
Intel Corporation has been actively involved in developing hardware and software solutions for blockchain technology. The company offers hardware products such as field-programmable gate arrays (FPGAs) and solid-state drives (SSDs) optimized for blockchain applications. Intel’s hardware offerings aim to provide improved performance, security, and scalability for blockchain networks. The company operates through seven segments: Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other.
Founded in 2012 and headquartered in San Francisco, California, U.S., Ripple is an American technology company that develops the Ripple payment protocol and exchange network. The company provides a frictionless experience to send money globally with the help of blockchain technology. It provides several fintech blockchain solutions to facilitate instant, reliable, and cost-effective payment systems.
Ripple is the only enterprise blockchain company today that provides commercial fintech blockchain products used by hundreds of customers across over 55 countries. It provides alternative liquidity solutions through Ripple’s global network, which uniquely uses the XRP Ledger and its native digital asset XRP to improve global payment service. Furthermore, it offers blockchain solutions and services in different specialties, including cross-border payments, financial technology, cryptography, distributed ledgers, fintech, finance, blockchain, payments, cryptocurrency, and payments.
Authoritative Research on the Blockchain Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
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