Blockchain Government Market

Industry Overview

The Global Blockchain Government Market is projected to reach USD 6,410.0 billion by 2030, 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 the application provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed to the 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, the smart contracts category contributes the largest revenue globally, owing to the increase in the deployment of blockchain-based smart contracts to reduce costs of verification, execution, arbitration, and fraud prevention by government agencies.

Blockchain Government Market Report Coverage

Industry Dynamics

Trends

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

Blockchain supports the implementation of smart contracts, which are self-executing contracts with predefined rules. Smart contracts can automate and enforce agreements, reducing the need for intermediaries and enhancing the efficiency of government contracts and procurement processes.

Growth Drivers

The global blockchain government market has been driven by several key factors, including increasing adoption of blockchain from the 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 a transparent and decentralized government, and increasing demand for high efficiency and high speed in government sector.

Transparency and Accountability: Blockchain provides a transparent and immutable record of transactions, which can help prevent fraud, corruption, and manipulation. Citizens can have greater trust in government processes when they can verify the authenticity and integrity of public records.

Security: Blockchain employs cryptographic techniques to secure data and transactions. It offers a high level of resilience against hacking and unauthorized access. By decentralizing data storage and using consensus mechanisms, blockchain reduces the vulnerability of government systems to cyber attacks.

Efficiency and Cost Savings: Blockchain streamlines government processes by removing intermediaries and automating workflows. It eliminates the need for manual paperwork and reduces administrative burdens, resulting in cost savings and improved efficiency.

Citizen Services: Blockchain can enhance citizen services by providing secure and convenient access to government records and services. For example, citizens can have control over their personal data and selectively share it with government agencies for streamlined service delivery.

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 to the existence of a large number of players of blockchain technology in the region and also it is considered 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 the 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, and regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered to 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 the estimation and forecast of market data, whereas the 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 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 consumers are also conducted to understand consumer behavior.

The Blockchain Government Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• By Provider
  • Middleware Provider
  • Application Provider
  • Infrastructure Provider
• By Application
  • Asset Registry
  • Identity Management
  • Payments
  • Smart Contracts
  • Voting
  • Others

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

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, 2018 – 2022(USD Billion)
Table 5  Global Blockchain Government Market Size, by Provider, 2023 – 2030 (USD Billion)
Table 6  Global Blockchain Government Market Size, by Application, 2018 – 2022(USD Billion)
Table 7  Global Blockchain Government Market Size, by Application, 2023 – 2030 (USD Billion)
Table 8  Global Blockchain Government Market Size, by Region, 2018 – 2022(USD Billion)
Table 9  Global Blockchain Government Market Size, by Region, 2023 – 2030 (USD Billion)
Table 10  North America Blockchain Government Market Size, by Provider, 2018 – 2022(USD Billion)
Table 11  North America Blockchain Government Market Size, by Provider, 2023 – 2030 (USD Billion)
Table 12  North America Blockchain Government Market Size, by Application, 2018 – 2022(USD Billion)
Table 13  North America Blockchain Government Market Size, by Application, 2023 – 2030 (USD Billion)
Table 14  North America Blockchain Government Market Size, by Country, 2018 – 2022(USD Billion)
Table 15  North America Blockchain Government Market Size, by Country, 2023 – 2030 (USD Billion)
Table 16  Europe Blockchain Government Market Size, by Provider, 2018 – 2022(USD Billion)
Table 17  Europe Blockchain Government Market Size, by Provider, 2023 – 2030 (USD Billion)
Table 18  Europe Blockchain Government Market Size, by Application, 2018 – 2022(USD Billion)
Table 19  Europe Blockchain Government Market Size, by Application, 2023 – 2030 (USD Billion)
Table 20  Europe Blockchain Government Market Size, by Country, 2018 – 2022(USD Billion)
Table 21  Europe Blockchain Government Market Size, by Country, 2023 – 2030 (USD Billion)
Table 22  Asia-Pacific Blockchain Government Market Size, by Provider, 2018 – 2022(USD Billion)
Table 23  Asia-Pacific Blockchain Government Market Size, by Provider, 2023 – 2030 (USD Billion)
Table 24  Asia-Pacific Blockchain Government Market Size, by Application, 2018 – 2022(USD Billion)
Table 25  Asia-Pacific Blockchain Government Market Size, by Application, 2023 – 2030 (USD Billion)
Table 26  Asia-Pacific Blockchain Government Market Size, by Country, 2018 – 2022(USD Billion)
Table 27  Asia-Pacific Blockchain Government Market Size, by Country, 2023 – 2030 (USD Billion)
Table 28  RoW Blockchain Government Market Size, by Provider, 2018 – 2022(USD Billion)
Table 29  RoW Blockchain Government Market Size, by Provider, 2023 – 2030 (USD Billion)
Table 30  RoW Blockchain Government Market Size, by Application, 2018 – 2022(USD Billion)
Table 31  RoW Blockchain Government Market Size, by Application, 2023 – 2030 (USD Billion)
Table 32  RoW Blockchain Government Market Size, by Country, 2018 – 2022(USD Billion)
Table 33  RoW Blockchain Government Market Size, by Country, 2023 – 2030 (USD Billion)
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, 2018 – 2030 (USD Billion)
Figure 13  Global Blockchain Government Market Size, by Application, 2018 – 2030 (USD Billion)
Figure 14  Global Blockchain Government Market Size, by Region, 2018 – 2030 (USD Billion)
Figure 15  North America Blockchain Government Market Highlight
Figure 16  North America Blockchain Government Market Size, by Provider, 2018 – 2030 (USD Billion)
Figure 17  North America Blockchain Government Market Size, by Application, 2018 – 2030 (USD Billion)
Figure 18  North America Blockchain Government Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 19  Europe Blockchain Government Market Highlight
Figure 20  Europe Blockchain Government Market Size, by Provider, 2018 – 2030 (USD Billion)
Figure 21  Europe Blockchain Government Market Size, by Application, 2018 – 2030 (USD Billion)
Figure 22  Europe Blockchain Government Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 23  Asia-Pacific Blockchain Government Market Highlight
Figure 24  Asia-Pacific Blockchain Government Market Size, by Provider, 2018 – 2030 (USD Billion)
Figure 25  Asia-Pacific Blockchain Government Market Size, by Application, 2018 – 2030 (USD Billion)
Figure 26  Asia-Pacific Blockchain Government Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 27  RoW Blockchain Government Market Highlight
Figure 28  RoW Blockchain Government Market Size, by Provider, 2018 – 2030 (USD Billion)
Figure 29  RoW Blockchain Government Market Size, by Application, 2018 – 2030 (USD Billion)
Figure 30  RoW Blockchain Government Market Size, by Country, 2018 – 2030 (USD Billion)