The enterprise-grade DLT market is projected to reach US$ 38.8 Million in 2032 at a CAGR of 26.7% from its current value of US$ 3.6 Million in 2022. The market for enterprise-grade DLT is expanding rapidly as a result of the technology’s expanding use in financial transactions. It is anticipated that additional new applications in sectors like government and healthcare will support market growth.
Technology is being investigated in government organisations to record transactions like real estate title transfers. DLT is being tested in healthcare institutions to enable a more efficient method of updating and revising patient records.
Additionally, a number of companies are trying distributed ledger solutions for the upkeep of supply chain data, which is accelerating industry growth. DLT is thought to provide people more control over their personal information by letting them decide which sections or records to release when necessary, limiting access, and keeping track of the amount of time that information is accessible to other entities.
Employing enterprise-grade DLT systems has a number of advantages, such as increased data visibility and transparency, reduced operational costs, quick transaction rates, greatly reduced risks of fraud, increased reliance and reliability, and significantly higher levels of security.
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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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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