According to a recent Future Market Insights report, the Enterprise-Grade DLT Market is predicted to grow rapidly. From 2022 to 2032, this dynamic business is projected to increase at a staggering Compound Annual Growth Rate (CAGR) of 26.7%. The industry’s value is predicted to increase exponentially from US$ 3.6 million in 2022 to US$ 38.8 million by the end of the projection period. This huge expansion demonstrates the rising need for enterprise-grade Distributed Ledger Technology (DLT) solutions across industries.
Government agencies are researching technology for recording transactions such as real estate title transfers. DLT is being investigated in healthcare organizations to provide a more efficient method for updating and changing 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.
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
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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