BLOCKCHAIN - UK - JUNE 2019

BLOCKCHAIN - UK - JUNE 2019

Jun 2019 Mintel Industry ProfileN/A Price :
$ 995

Blockchain is a digital ledger that provides a secure and public way of making and recording transactions, agreements and contracts; its best-known use is Bitcoin, a virtual currency. The database is shared across a network of computers and becomes a long list of chronological transactions that have taken place since the beginning of the network.

Blockchain is a transformational technology. For all its complexity, blockchain’s potential as a decentralised form of record-keeping is almost without limit. From greater user privacy and heightened security, to lower processing fees and fewer errors, blockchain technology has the potential for a myriad of applications. A key area is technology for enterprises that require trust-less transactions and secure record keeping. Enterprises can track transactions with greater confidence and security, and blockchain adoption - completely distinct from crypto currency hype or doom projections - is steadily gaining in enterprise environments.

“Blockchain may originate from spurious uses, and the future of crypto currencies remains debatable (though don’t rule it out), but the potential wider commercial opportunities and applications of blockchain are vast and transformative. Moreover, its use is not limited to business but extends to major public sector applications. Some within the blockchain sector even claim the technology will make inroads into poverty and income discrepancy on a world-wide scale. It is potentially the most transformational development since the internet, and could stimulate a new economic era.”

Table of contents
OVERVIEW
What you need to know
Covered in this Report
EXECUTIVE SUMMARY
The market
From inauspicious beginnings
Figure 1: Worldwide geographic segmentation of blockchain, 2017
The role of cyber currencies declining
Figure 2: Segmentation of world blockchain income, by sector, 2018
Commercial applications in their infancy
Figure 3: Progress in adopting blockchain, by sector, 2018
Operational efficiency to drive early use
Figure 4: The impact of blockchain by industry and benefit
Banking, finance and insurance to lead growth
Figure 5: Forecast world development of blockchain, by major application, 2019-2024
Companies and brands
The global industry
Figure 6: Estimated world blockchain market shares, by revenue 2017
The UK sector
Figure 7: Segmentation of UK companies in the blockchain sector, 2018
What we think
ISSUES AND INSIGHTS
Blockchain has many potential benefits
The facts
The implications
Is blockchain the solution for the unbanked in the UK?
The facts
The implications
THE MARKET – WHAT YOU NEED TO KNOW
So much more than crypto currencies
Huge growth expected
Blockchain-as-a-service
MARKET SIZE
The lull before the storm
Figure 8: Progress in adopting blockchain, by sector, 2018
Regional differences and the role of the UK
Figure 9: Worldwide geographic segmentation of blockchain, 2017
MARKET SEGMENTATION
Not all about cyber currencies
Figure 10: Segmentation of world blockchain income, by sector, 2017 (%)
Figure 11: Segmentation of world blockchain income, by sector, 2018 (%)
Banking, finance and insurance
Figure 12: Projected world market for blockchain in banking, finance and insurance, 2019/24
Banking
Exchanges
Stock trading
Credit rating
Crowd funding
Healthcare
Figure 13: Projected world market for blockchain in healthcare, 2019/24
Cyber currency
Figure 14: Projected world market for blockchain in cyber currency, 2019/24
Supply chain
Figure 15: Projected world market for blockchain in supply chain, 2019/24
General
Internet of things
Figure 16: Projected world market for blockchain in internet of things, 2019/24
MARKET SEGMENTATION – OTHER EMERGING AREAS
3D printing
Agriculture
Air travel
Charities
The cloud
Education
Elections
Energy management
Entertainment rights
Fishing
Gambling
Gaming
HR
Internet advertising
Internet identity
Internet security
Law enforcement
Legal sector
Logistics
Loyalty schemes
Messaging apps
Public sector
Publishing
Real estate
Royalties
Taxi sharing apps
Vehicle registration
Videos
Welfare payments
Wills
MARKET FORECAST
Huge global growth
Figure 17: Projected world market for blockchain, 2019/24
THE IMPACT OF THE ECONOMY
GDP
Figure 18: Quarterly GDP development, Q1 2015-Q1 2019
Figure 19: GDP quarterly development, by sector, 2004-19
Figure 20: Forecast GDP development, 2019-2023
MARKET TRENDS
Figure 21: The impact of blockchain by industry and benefit
Feasibility dependent on various issues
Figure 22: Blockchain feasibility by type of asset, technology maturity, standards and regulations and ecosystem, by industry
Figure 23: Proportions believing blockchain is about financial services and financial transactions only, by industry, 2018
MARKET DRIVERS
The internet
Figure 24: Growth in worldwide internet usage, by region, 2000-2019
Figure 25: Proportion of businesses with internet access, by size of company, 2017
5G
The internet of things
Figure 26: Worldwide connected devices installed, 2015-17 actual and 2018-25 forecast
Figure 27: Total Worldwide number of connected devices, 2015-18 actual and 2019-25 forecast
AI
E-commerce
Figure 28: Total growth of e-commerce sales, 2014-18
Figure 29: Forecast total e-commerce market, 2019-23
Bitcoin, other crypto currencies and stable coins
Figure 30: Closing prices of Bitcoin, October 2013 to May 2019
COMPANIES AND BRANDS – WHAT YOU NEED TO KNOW
An international market
Huge venture capital growth in 2018
The UK industry is also growing
Some government encouragement
INDUSTRY STRUCTURE
Venture capital investment
Figure 31: Global venture capital investment in blockchain companies, 2013-18
The international industry
Figure 32: Estimated world blockchain market shares, by revenue 2017
The UK sector
Figure 33: Structure of the UK blockchain sector, 2018 (number)
Figure 34: Segmentation of UK companies in the blockchain sector, 2018
COMPANY PROFILES
Blockchain Inc
Activity
Performance
Strategy
Circle UK Trading
Activity
Performance
Strategy
Earthport
Activity
Performance
Strategy
Electroneum
Activity
Strategy
eToro
Activity
Performance
Strategy
Everledger
Activity
Performance
Strategy
GMEX Group
Activity
Performance
Strategy
IOTA
Activity
Strategy
Medicalchain
Activity
Strategy
R3
Activity
Strategy
APPENDIX – DATA SOURCES, ABBREVIATIONS AND SUPPORTING INFORMATION
Abbreviations
Methodology

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