The market for managed blockchain services is anticipated to grow at a CAGR of 11.8% over the course of the forecast period (2022-2032). The market is projected to reach US$ 6,764.2 million in market share by 2032, up from its current value of US$ 2,210.6 million in 2022.
- The increased adoption of components of Industries 4.0 along with the demand for safer mediums and trackers fuel the demand for managed blockchain services.
- The rising businesses of small and medium-sized enterprises are adopting the latest technology for faster and safer transactions along with the expanding automation.
- The buzz around the blockchain has made it sound like a panacea. Supply chain enthusiasts evaluate its true potential as transaction-based technology.
- While blockchain 1.0 was dedicated to helping cryptocurrency, transactions go through. The emergence of cryptocurrencies pushed blockchain technology as a separate entity further.
- Rapid acceleration in the market is due to the rising application of managed blockchain services in sectors such as banking, finance, manufacturing, and R&D.
- Cyber security advisories launched by governments push brands to adopt managed blockchain technology for higher transparency.
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Key Points
- North America is the biggest market in the global managed blockchain services market with a market share of 32.9% while thriving on a CAGR of 15.1% during forecast period.
- Europe holds the second biggest market share of 20.7% for managed blockchain services market while thriving on a CAGR of 16.4%.
- The factors that limit the growth of the market are limited awareness and the high cost associated with its implementation which has led to the limited sales of managed blockchain services.
- South Asia and the Pacific thrive at a robust CAGR of 22.5% during the forecast period. The growth is attributed to the presence of business giants and technological experts.
Competitive Landscape
The managed blockchain market is new and is an addition to the already existing blockchain market. Therefore, the brands are the major companies that provide customized blockchain solutions to the end users. The competition is high as every brand has its own USP. The major companies in the market are SAP SE, IBM Corporation, Microsoft Corporation, VMware etc.
Recent Market Developments
- Microsoft have has its blockchain solution for the supply chain tracking and trace along with centralized systems for the bank and financial system to gain trust andd efficiency.
- IBM Corporation has introduced its enterprise-based blockchain services that keep a track of transactions and its integrated with the cloud systems for enhanced performance.
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Managed blockchain services Market by Category
By Services, Managed blockchain services Market is segmented as:
- Tools
- Services
By Enterprise, Managed blockchain services Market is segmented as:
- Small Offices (1-9 Employees)
- Small Enterprises (10-99 Employees)
- Medium-sized Enterprises (100-499 Employees)
- Large Enterprises (500-999 Employees)
- Very Large Enterprises (1000+ Employees)
By Industry, Managed blockchain services Market is segmented as:
- Services
- Distribution Services
- Public Sector
- Finance
- Manufacturing and Resources
- Infrastructure
By Region, Managed blockchain services Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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