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Asia Pacific Blockchain Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Governance, Risk and Compliance, and Others), and Industry Vertical (BFSI, Retail, Government, Transportation & Logistics, Healthcare, Automotive, Media & Entertainment, and Others)

TIPRE00027780 | Pages: 168 | Technology, Media and Telecommunications | Mar 2022 | Type: Regional | Status: Published

The blockchain market in Asia-Pacific is expected to grow from US$ 957.83 million in 2021 to US$ 48,950.88 million by 2028; it is estimated to grow at a CAGR of 75.4% from 2021 to 2028.

Post the financial crisis in 2008,Bitcoin and other cryptocurrencies entered the financial sector and gradually gained a lot of prominence. However, with recent developments and uncertainties crowding the cryptocurrency space, its future is unclear. While the future cryptocurrency is still speculative, the underlying technology blockchain has emerged as a prime technology with huge potential to open many opportunities across various industries. The popularity of Blockchain is growing at an exponential rate with successful use cases in various industries, ranging from BFSI to media and entertainment. In terms of technology adoption and use cases, the BFSI industry is leading the market. Blockchain solutions are being implemented in payments, remittances, identity management, fund processing, dispute management, risk management, and many other applications. The BFSI sector has been held back due to limitations and obsolete aspects of the mainframe computing technology; however, with the BFSI industry moving into the advanced age of real-time transaction processing, Blockchain is a principal facilitating technology. This technology has become progressively attractive to the BFSI sector for its tamper-proof ledger. With big market players such as IBM, Accenture, and Microsoft, more and more blockchain solutions are being implemented across major banks and insurance companies.  When it comes to blockchain solution providers, IBM holds a prominent place in the market. The company provides a blockchain platform for various industries. For instance, with the help of IBM's Blockchain platform, banks can create secure, low-cost, and high-volume cross-border payments. There are numerous examples of the successful implementation of Blockchain in the BFSI sector. With an increasing number of well-established market players and startups entering the BFSI Blockchain market, it is expected that the BFSI segment will drive the Asia-Pacific blockchain market during the forecast period.

 

Governments in Asia Pacific countries are taking possible steps to reduce its effects by announcing lockdown, which is adversely affecting the manufacturing sector. The COVID-19 pandemic emerged as an unprecedented public health threat, infecting a large number of people across the region. The pandemic caused economic and financial harm to the economy and a number of industrial sectors. Several countries declared national emergencies and implemented lockdowns to prevent SARS-CoV-2 from spreading and infecting people. Clinical investigations and surveys in Asia Pacific have revealed a decrease in outpatient and emergency medical services. Many medical practices, particularly elective medical practices, were impeded, sidetracked, postponed, and discontinued, affecting industry growth.

 

 Asia-Pacific Blockchain Market Revenue and Forecast to 2028 (US$ Million)

 

 Asia-Pacific Blockchain Market Revenue and Forecast to 2028 (US$ Million)

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Asia-Pacific Blockchain Market Segmentation  

Asia-Pacific Blockchain Market – By Component

  • Solutions
  • Services

Asia-Pacific Blockchain Market – By Application

  • Payments
  • Exchanges
  • Smart Contracts
  • Documentation
  • Digital Identity
  • Governance, Risk and Compliance
  • Others

Asia-Pacific Blockchain Market – By Industry Vertical

  • BFSI
  • Retail
  • Government
  • Transportation and Logistics
  • Healthcare
  • Automotive
  • Media and Entertainment
  • Others

Asia-Pacific Blockchain Market– By Country

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Asia-Pacific Blockchain Market-Companies Mentioned

  • Accenture
  • Amazon Web Services
  • Bitfury Group Limited
  • Hewlett Packard Enterprise Development LP (HPE)
  • IBM Corporation
  • Intel Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Ripple Labs Inc.
  • SAP SE     

1.           Introduction

1.1         Scope of the Study

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        APAC Blockchain Market – By Component

1.3.2        APAC Blockchain Market – By Application

1.3.3        APAC Blockchain Market – By Industry Vertical

1.3.4        APAC Blockchain Market – By Country

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           APAC Blockchain Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        APAC

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           APAC Blockchain Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical

5.1.2        High Transparency and Operational Efficiency with Substantial Cost Savings

5.1.3        Increase in Innovative Start-ups

5.2         MARKET RESTRAINTS

5.2.1        Data Privacy, Confidentiality, and Security Concerns

5.2.2        Unclear Regulatory Environment

5.2.3        Interoperability, Scalability, and Sustainability Challenges

5.3         MARKET OPPORTUNITIES

5.3.1        Rising Government Support and Initiatives

5.3.2        Increasing Demand for Blockchain-as-a-Service Due to COVID-19 Pandemic

5.4         FUTURE TRENDS

5.4.1        Combination of Blockchain and Artificial Intelligence for Advanced Applications

5.4.2        Application of Blockchain in Vaccine Manufacture and Tracking

5.5         Impact Analysis of Drivers and Restraints

6.           Blockchain Market – APAC Market Analysis

6.1         APAC Blockchain Market Overview

6.2         APAC Blockchain Market Forecast and Analysis

7.           APAC Blockchain Market – By Component

7.1         Overview

7.2         APAC Blockchain Market, by Component (2020 and 2028)

7.3         Services

7.3.1        Overview

7.3.2        Services: APAC Blockchain Market– Revenue and Forecast to 2028 (US$ Million)

7.4         Solutions

7.4.1        Overview

7.4.2        Solutions: APAC Blockchain Market– Revenue and Forecast to 2028 (US$ Million)

8.           APAC Blockchain Market – By Application

8.1         Overview

8.2         APAC Blockchain Market, by Application (2020 and 2028)

8.3         Payments

8.3.1        Overview

8.3.2        Payments: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Exchanges

8.4.1        Overview

8.4.2        Exchanges: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.5         Smart Contracts

8.5.1        Overview

8.5.2        Smart Contracts: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.6         Documentation

8.6.1        Overview

8.6.2        Documentation: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.7         Digital Identity

8.7.1        Overview

8.7.2        Digital Identity: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.8         Governance, Risk and Compliance

8.8.1        Overview

8.8.2        Governance, Risk and Compliance: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

8.9         Others

8.9.1        Overview

8.9.2        Others: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.           APAC Blockchain Market – By Industry Vertical

9.1         Overview

9.2         APAC Blockchain Market, by Industry Vertical (2020 and 2028)

9.3         BFSI

9.3.1        Overview

9.3.2        BFSI: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.4         Retail

9.4.1        Overview

9.4.2        Retail: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.5         Government

9.5.1        Overview

9.5.2        Government: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.6         Transportation and Logistics

9.6.1        Overview

9.6.2        Transportation and Logistics: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.7         Healthcare

9.7.1        Overview

9.7.2        Healthcare: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.8         Automotive

9.8.1        Overview

9.8.2        Automotive: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.9         Media and Entertainment

9.9.1        Overview

9.9.2        Media and Entertainment: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

9.10      Others

9.10.1     Overview

9.10.2     Others: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

10.        APAC Blockchain Market – Country Analysis

10.1      Overview

10.1.1     APAC Blockchain Market Breakdown, by Country

10.1.1.1       Australia Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.1.1       Australia Blockchain Market Breakdown, By Component

10.1.1.1.2       Australia Blockchain Market Breakdown, By Application

10.1.1.1.3       Australia Blockchain Market Breakdown, By Industry Vertical

10.1.1.2       China Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.2.1       China Blockchain Market Breakdown, By Component

10.1.1.2.2       China Blockchain Market Breakdown, By Application

10.1.1.2.3       China Blockchain Market Breakdown, By Industry Vertical

10.1.1.3       India Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.3.1       India Blockchain Market Breakdown, By Component

10.1.1.3.2       India Blockchain Market Breakdown, By Application

10.1.1.3.3       India Blockchain Market Breakdown, By Industry Vertical

10.1.1.4       Japan Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.4.1       Japan Blockchain Market Breakdown, By Component

10.1.1.4.2       Japan Blockchain Market Breakdown, By Application

10.1.1.4.3       Japan Blockchain Market Breakdown, By Industry Vertical

10.1.1.5       South Korea Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.5.1       South Korea Blockchain Market Breakdown, By Component

10.1.1.5.2       South Korea Blockchain Market Breakdown, By Application

10.1.1.5.3       outh Korea Blockchain Market Breakdown, By Industry Vertical

10.1.1.6       Rest of APAC Blockchain Market, Revenue and Forecast to 2028 (US$ million)

10.1.1.6.1       Rest of APAC Blockchain Market Breakdown, By Component

10.1.1.6.2       Rest of APAC Blockchain Market Breakdown, By Application

10.1.1.6.3       Rest of APAC Blockchain Market Breakdown, By Industry Vertical

11.        Impact of COVID-19 Pandemic on APAC Blockchain Market

11.1      Overview

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

12.3      New Product Development

12.4      Merger and Acquisition

13.        Company Profiles

13.1      IBM Corporation

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      Microsoft Corporation

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      Accenture

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      Amazon Web Services

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      SAP SE

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Bitfury Group Limited

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      Ripple Labs Inc.

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Hewlett Packard Enterprise Development LP (HPE)

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9      Oracle Corporation

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10   Intel Corporation

13.10.1  Key Facts

13.10.2  Business Description

13.10.3  Products and Services

13.10.4  Financial Overview

13.10.5  SWOT Analysis

13.10.6  Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Glossary

 


LIST OF TABLES

Table 1.             APAC Blockchain Market Revenue and Forecast, 2019–2028 (US$ Mn)

Table 2.             APAC Blockchain Market, Revenue and Forecast to 2028 – By Country (US$ million)

Table 3.             Australia Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 4.             Australia Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 5.             Australia Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)

Table 6.             China Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 7.             China Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 8.             China Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)

Table 9.             India Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 10.          India Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 11.          India Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)

Table 12.          Japan Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 13.          Japan Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 14.          Japan Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)

Table 15.          South Korea Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 16.          South Korea Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 17.          South Korea Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)

Table 18.          Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)

Table 19.          Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 20.          Rest of APAC Blockchain Market, Revenue and Forecast to 2028 – By Vertical (US$ million)

Table 21.          Glossary of Terms, APAC Blockchain Market

 


LIST OF FIGURES

Figure 1.           APAC Blockchain Market Segmentation

Figure 2.           APAC Blockchain Market Segmentation – Country

Figure 3.           APAC Blockchain Market Overview

Figure 4.           APAC Blockchain Market, By Component

Figure 5.           APAC Blockchain Market, By Application

Figure 6.           APAC Blockchain Market, By Industry Vertical

Figure 7.           APAC Blockchain Market, By Country

Figure 8.           APAC: PEST Analysis

Figure 9.           APAC Blockchain Market Ecosystem Analysis

Figure 10.        Expert Opinion

Figure 11.        APAC Blockchain Market Impact Analysis of Drivers and Restraints

Figure 12.        APAC Blockchain Market, Forecast and Analysis (US$ Mn)

Figure 13.        APAC Blockchain Market Revenue Share, by Component (2020 and 2028)

Figure 14.        Services: APAC Blockchain Market– Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Solutions: APAC Blockchain Market– Revenue and Forecast to 2028 (US$ Million)

Figure 16.        APAC Blockchain Market Revenue Share, by Application(2020 and 2028)

Figure 17.        Payments: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Exchanges: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Smart Contracts: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Documentation: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Digital Identity: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Governance, Risk, and Compliance: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Others: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        APAC Blockchain Market Revenue Share, by Industry Vertical(2020 and 2028)

Figure 25.        BFSI: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Retail: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        Government: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        Transportation and Logistics: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29.        Healthcare: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30.        Automotive: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31.        Media and Entertainment: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.        Others: APAC Blockchain Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        APAC Blockchain Market, by key Country, Revenue and Forecast to 2028 (US$ million)

Figure 34.        APAC Blockchain Market Breakdown, by Country, 2020 & 2028 (%)

Figure 35.        Australia Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 36.        China Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 37.        India Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 38.        Japan Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 39.        South Korea Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 40.        Rest of APAC Blockchain Market, Revenue and Forecast to 2028 (US$ million)

Figure 41.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

  1. Accenture
  2. Amazon Web Services
  3. Bitfury Group Limited
  4. Hewlett Packard Enterprise Development LP (HPE)
  5. IBM Corporation
  6. Intel Corporation
  7. Microsoft Corporation
  8. Oracle Corporation
  9. Ripple Labs Inc.
  10. SAP SE
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia-Pacific Blockchain Market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Blockchain Market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the Blockchain Market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution 
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