A new analysis by Future Market Insights shows that the Enterprise-Grade DLT Market is expected to develop at a rapid pace. From 2022 to 2032, this dynamic industry is expected to grow at an astounding Compound Annual Growth Rate (CAGR) of 26.7%. The industry’s worth is expected to grow exponentially from its 2022 starting point of US$ 3.6 million to US$ 38.8 million by the end of the forecast period. The growing need for enterprise-grade Distributed Ledger Technology (DLT) solutions across sectors is shown by this major expansion.
Technology is being researched in government institutions to record transactions such as transfers of real estate titles. DLT is being tested in healthcare institutions to give a more efficient way to update and alter patient information.
A lot of businesses are also experimenting with distributed ledger solutions for the maintenance of supply chain data, which is propelling industry growth. DLT is believed to provide users more control over their personal information by enabling them choose which parts or records to disclose when appropriate, limiting access, and monitoring the duration of time that information is available to other parties.
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Key Takeaways
- The U.S. enterprise-grade DLT market accounts for the largest market share, holding 16.5% of the overall market, as of 2021. The market growth in the region is a consequence of accelerated receptiveness of DLT solutions and its resultant adoption in the enterprises to secure and scale their digital finance.
- The South Asia enterprise-grade DLT market is predicted to grow at a rapid CAGR of 29.5% over the forecast period. This can be credited to increasing investments, surging use cases, vast potential for DLT services to be employed in the region.
- The India enterprise-grade DLT market is assessed to grow at the fastest CAGR of 12.5% over the forthcoming years. The rapid growth of the market can be attributed to the growing interest around its usage in India which is being leveraged to get to the next level where more pilots and production-ready applications can be witnessed. The regional growth is also being propelled by the coming together of government bodies, technology giants, start-ups, and consultancy firms, which is predicted to create more opportunities for the market to expand.
- Further, on the basis of industry, distribution services are estimated to witness rapid growth over the forecast period, expanding at a CAGR of 28.6% over the forecast period.
Competitive Landscape
The enterprise-grade DLT market size is anticipated to observe robust growth over the forecast period owing to abundantly emerging opportunities, completion of acquisitions, formation of partnerships, and technological advancements. Following are the companies providing enterprise-grade DLT in the market, as identified by FMI:
- Hyperledger
- Ethereum
- R3- Corda
- Ripple
- ERIS
- Insolar
- Multichain
- Others
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Key Segments Covered in the Enterprise-Grade DLT Market Report
By Application:
- Supply Chain
- Digital Identity
- Payments
- Smart Contracts
- Others
By Deployment Mode:
- Cloud
- On-premise
By Industry:
- Finance
- Manufacturing and Resources
- Distribution Services
- Services
- Public Sector
- Infrastructure
By Enterprise Size:
- 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 Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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