Global Blockchain Government Market – Analysis and Forecast (2021-2027)

Industry Insights by Provider (Middleware Provider, Application Provider, and Infrastructure Provider), by Application (Asset Registry, Identity Management, Payments, Smart Contracts, Voting, Others)

Industry Overview

The Global Blockchain Government Market is projected to reach USD 6,410.0 million by 2027, registering a CAGR of 86.0% during the forecast period. Increasing adoption of blockchain from the government sector, and growing cases of fraudulent activities in the public sector, propelling the growth of the market.

Market Segmentation

Insight by Provider

On the basis of provider, the global blockchain government market is categorized into middleware provider, application provider, and infrastructure provider, wherein application provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing adoption of technologically advanced blockchain solutions in government agencies.

Insight by Application

Based on application, the blockchain government market is segmented into asset registry (land/real estate registry), identity management, payments, smart contracts, elections/voting, and others (healthcare, public transport, and supply chain & logistics). Among all these segments, smart contracts category contributes the largest revenue globally, owing to the increase in deployment of blockchain-based smart contracts to reduce costs of verification, execution, arbitration, and fraud prevention by the government agencies.

Industry Dynamics

Trends

The increasing utilization of the technology amongst several government organizations across the globe is the key trends observed in the blockchain government market, globally.

Growth Drivers

Global blockchain government market has been driven by several key factors, including increasing adoption of blockchain from government sector, growing cases of fraudulent activities in the public sector, increasing need to provide protection against data tempering, rise in the usage of blockchain technology to create transparent and decentralized government, and increasing demand for high efficiency and high speed in government sector.

Restraints

Lack of awareness regarding the blockchain technique is hindering the growth of the blockchain government market, globally.

Geography Insight

Geographically, North America has accounted for the largest share in the blockchain government market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the existence of a large number of players of blockchain technology in the region and also it is considered as the most advanced region in terms of advanced technology adoption. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to huge investment undertaken by the government towards the development of blockchain technology to change the business processes in the government sector.

Competitive Insight

Some of the key players operating in the global blockchain government market are IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Infosys Limited, Accenture plc, Intel Corporation, BigchainDB Gmbh, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.

Forecast Parameters

- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered by market participants in an attempt to determine the future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trend.
- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.

- Apart from industry experts, data triangulation methods were used for validation.

- Bottom-up and top-down approach has been used for estimation and forecast of market data, whereas top-down approach was used for validation.

- Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behavior.

Source: VynZ Research

Source: VynZ Research

1.    Research Overview 

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Provider
                1.2.2.    By Application
                1.2.3.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Size Estimations and Forecast
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Market Definition

        3.1.    By Provider
                3.1.1.    Middleware Provider
                3.1.2.    Application Provider
                3.1.3.    Infrastructure Provider
        3.2.    By Application
                3.2.1.    Asset Registry
                3.2.2.    Identity Management 
                3.2.3.    Payments
                3.2.4.    Smart Contracts 
                3.2.5.    Voting
                3.2.6.    Others

4.    Industry Overview

        4.1.    Industry Dynamics
                4.1.1.    Market Growth Drivers
                4.1.2.    Market Growth Restraints
                4.1.3.    Key Market Trends
                4.1.4.    Major Opportunities
        4.2.    Industry Ecosystem
                4.2.1.    Porter’s Five Forces Analysis
                4.2.2.    Recent Development Analysis
                4.2.3.    Value Chain Analysis
        4.3.    Competitive Insight
                4.3.1.    Competitive Position of Industry Players
                4.3.2.    Market Attractive Analysis
                4.3.3.    Market Share Analysis

5.    Global Market Estimate and Forecast

        5.1.    By Provider
        5.2.    By Application
        5.3.    By Region

6.    North America Market Estimate and Forecast

        6.1.    By Provider
        6.2.    By Application
        6.3.    By Country
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Provider
        7.2.    By Application
        7.3.    By Country
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    France Market Estimate and Forecast
                7.3.3.    U.K. Market Estimate and Forecast
                7.3.4.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Provider
        8.2.    By Application
        8.3.    By Country 
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    Singapore Market Estimate and Forecast
                8.3.5.    Australia Market Estimate and Forecast
                8.3.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Provider
        9.2.    By Application
        9.3.    By Country
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    U.A.E. Market Estimate and Forecast
                9.3.3.    Saudi Arabia Market Estimate and Forecast
                9.3.4.    South Africa Market Estimate and Forecast
                9.3.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    IBM Corporation
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Amazon Web Services, Inc.
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Microsoft Corporation
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Deloitte Touche Tohmatsu Limited
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Oracle Corporation
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Infosys Limited
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    Accenture plc
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Intel Corporation
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    BigchainDB Gmbh
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Ethereum Foundation
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments
        10.11.    Earthport PLC
                10.11.1.    Snapshot
                10.11.2.    Overview
                10.11.3.    Offerings
                10.11.4.    Financial Insight
                10.11.5.    Recent Developments
        10.12.    Factom
                10.12.1.    Snapshot
                10.12.2.    Overview
                10.12.3.    Offerings
                10.12.4.    Financial Insight
                10.12.5.    Recent Developments
        10.13.    BTL Group Ltd.
                10.13.1.    Snapshot
                10.13.2.    Overview
                10.13.3.    Offerings
                10.13.4.    Financial Insight
                10.13.5.    Recent Developments
        10.14.    Humaniq
                10.14.1.    Snapshot
                10.14.2.    Overview
                10.14.3.    Offerings
                10.14.4.    Financial Insight
                10.14.5.    Recent Developments
        10.15.    Tierion
                10.15.1.    Snapshot
                10.15.2.    Overview
                10.15.3.    Offerings
                10.15.4.    Financial Insight
                10.15.5.    Recent Developments
        10.16.    BlockCypher Inc.
                10.16.1.    Snapshot
                10.16.2.    Overview
                10.16.3.    Offerings
                10.16.4.    Financial Insight
                10.16.5.    Recent Developments
        10.17.    AlphaPoint
                10.17.1.    Snapshot
                10.17.2.    Overview
                10.17.3.    Offerings
                10.17.4.    Financial Insight
                10.17.5.    Recent Developments
        10.18.    Bitfury Group Limited
                10.18.1.    Snapshot
                10.18.2.    Overview
                10.18.3.    Offerings
                10.18.4.    Financial Insight
                10.18.5.    Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1  Sources
Table 2  Study Periods
Table 3  Data Reporting Unit
Table 4  Global Blockchain Government Market Size, by Provider, 2015 – 2020 (USD Million)
Table 5  Global Blockchain Government Market Size, by Provider, 2021 – 2027 (USD Million)
Table 6  Global Blockchain Government Market Size, by Application, 2015 – 2020 (USD Million)
Table 7  Global Blockchain Government Market Size, by Application, 2021 – 2027 (USD Million)
Table 8  Global Blockchain Government Market Size, by Region, 2015 – 2020 (USD Million)
Table 9  Global Blockchain Government Market Size, by Region, 2021 – 2027 (USD Million)
Table 10  North America Blockchain Government Market Size, by Provider, 2015 – 2020 (USD Million)
Table 11  North America Blockchain Government Market Size, by Provider, 2021 – 2027 (USD Million)
Table 12  North America Blockchain Government Market Size, by Application, 2015 – 2020 (USD Million)
Table 13  North America Blockchain Government Market Size, by Application, 2021 – 2027 (USD Million)
Table 14  North America Blockchain Government Market Size, by Country, 2015 – 2020 (USD Million)
Table 15  North America Blockchain Government Market Size, by Country, 2021 – 2027 (USD Million)
Table 16  Europe Blockchain Government Market Size, by Provider, 2015 – 2020 (USD Million)
Table 17  Europe Blockchain Government Market Size, by Provider, 2021 – 2027 (USD Million)
Table 18  Europe Blockchain Government Market Size, by Application, 2015 – 2020 (USD Million)
Table 19  Europe Blockchain Government Market Size, by Application, 2021 – 2027 (USD Million)
Table 20  Europe Blockchain Government Market Size, by Country, 2015 – 2020 (USD Million)
Table 21  Europe Blockchain Government Market Size, by Country, 2021 – 2027 (USD Million)
Table 22  Asia-Pacific Blockchain Government Market Size, by Provider, 2015 – 2020 (USD Million)
Table 23  Asia-Pacific Blockchain Government Market Size, by Provider, 2021 – 2027 (USD Million)
Table 24  Asia-Pacific Blockchain Government Market Size, by Application, 2015 – 2020 (USD Million)
Table 25  Asia-Pacific Blockchain Government Market Size, by Application, 2021 – 2027 (USD Million)
Table 26  Asia-Pacific Blockchain Government Market Size, by Country, 2015 – 2020 (USD Million)
Table 27  Asia-Pacific Blockchain Government Market Size, by Country, 2021 – 2027 (USD Million)
Table 28  RoW Blockchain Government Market Size, by Provider, 2015 – 2020 (USD Million)
Table 29  RoW Blockchain Government Market Size, by Provider, 2021 – 2027 (USD Million)
Table 30  RoW Blockchain Government Market Size, by Application, 2015 – 2020 (USD Million)
Table 31  RoW Blockchain Government Market Size, by Application, 2021 – 2027 (USD Million)
Table 32  RoW Blockchain Government Market Size, by Country, 2015 – 2020 (USD Million)
Table 33  RoW Blockchain Government Market Size, by Country, 2021 – 2027 (USD Million)
Table 34  Snapshot – IBM Corporation
Table 35  Snapshot – Amazon Web Services, Inc.
Table 36  Snapshot – Microsoft Corporation
Table 37  Snapshot – Deloitte Touche Tohmatsu Limited
Table 38  Snapshot – Oracle Corporation
Table 39  Snapshot – Infosys Limited
Table 40  Snapshot – Accenture plc
Table 41  Snapshot – Intel Corporation
Table 42  Snapshot – BigchainDB Gmbh
Table 43  Snapshot – Ethereum Foundation
Table 44  Snapshot – Earthport PLC
Table 45  Snapshot – Factom
Table 46  Snapshot – BTL Group Ltd.
Table 47  Snapshot – Humaniq
Table 48  Snapshot – Tierion
Table 49  Snapshot – BlockCypher Inc.
Table 50  Snapshot – AlphaPoint
Table 51  Snapshot – Bitfury Group Limited

List of Figures

Figure 1  Market Coverage
Figure 2  Research Phases
Figure 3  Secondary Providers for Different Parameters
Figure 4  Methodology
Figure 5  Data Mining & Exploration
Figure 6  Data Triangulation
Figure 7  Assumptions for Market Estimation and Forecast
Figure 8  Market Synopsis
Figure 9  Global Blockchain Government Market - Growth Drivers and Restraints
Figure 10  Competitive Benchmark
Figure 11  Global Blockchain Government Market Highlight
Figure 12  Global Blockchain Government Market Size, by Provider, 2015 – 2027 (USD Million)
Figure 13  Global Blockchain Government Market Size, by Application, 2015 – 2027 (USD Million)
Figure 14  Global Blockchain Government Market Size, by Region, 2015 – 2027 (USD Million)
Figure 15  North America Blockchain Government Market Highlight
Figure 16  North America Blockchain Government Market Size, by Provider, 2015 – 2027 (USD Million)
Figure 17  North America Blockchain Government Market Size, by Application, 2015 – 2027 (USD Million)
Figure 18  North America Blockchain Government Market Size, by Country, 2015 – 2027 (USD Million)
Figure 19  Europe Blockchain Government Market Highlight
Figure 20  Europe Blockchain Government Market Size, by Provider, 2015 – 2027 (USD Million)
Figure 21  Europe Blockchain Government Market Size, by Application, 2015 – 2027 (USD Million)
Figure 22  Europe Blockchain Government Market Size, by Country, 2015 – 2027 (USD Million)
Figure 23  Asia-Pacific Blockchain Government Market Highlight
Figure 24  Asia-Pacific Blockchain Government Market Size, by Provider, 2015 – 2027 (USD Million)
Figure 25  Asia-Pacific Blockchain Government Market Size, by Application, 2015 – 2027 (USD Million)
Figure 26  Asia-Pacific Blockchain Government Market Size, by Country, 2015 – 2027 (USD Million)
Figure 27  RoW Blockchain Government Market Highlight
Figure 28  RoW Blockchain Government Market Size, by Provider, 2015 – 2027 (USD Million)
Figure 29  RoW Blockchain Government Market Size, by Application, 2015 – 2027 (USD Million)
Figure 30  RoW Blockchain Government Market Size, by Country, 2015 – 2027 (USD Million)