India Blockchain Technology Market - Forecast to 2030
The term ""blockchain"" has arisen as a potentially transformational force in a variety of elements of government and business sector activities. Its potential has been recognized internationally, with a range of international organizations and technology businesses emphasizing the benefits of its use in lowering operational and compliance costs while also enhancing efficiency. While the technical foundations of the technology might be scary to many policymakers and decision-makers, blockchain can offer ease of cooperation for businesses and ease of living for our population by introducing transparency across government and private sector interfaces. Even though the technology is still in its early stages of development and adoption as it evolves, stakeholders such as policymakers, regulators, industry, and citizens must understand the functional definition of the entire suite of blockchain or distributed ledger technologies, as well as legal and regulatory issues and other implementation prerequisites. As crucial is the fact that this technology may not be uniformly more efficient, thus particular use cases where it provides value and others where it does not must be discovered.
The India blockchain technology market is estimated to garner a large amount of revenue and grow at a CAGR of 82.3% over the forecast period, i.e., 2022–2030. The market's expansion is attributable to the increased automation with data integrity and security. Additionally, the market is anticipated to see profitable prospects soon due to the government initiatives on establishing national blockchain framework.
Market SegmentationThe India blockchain technology market has been segmented based on type, platform, organization size, application, and end user. Based on type the market has been segmented application and solution providers, middleware provider and infrastructure & protocol provider. Based on platform, the market is bifurcated into bitcoin, ethereum, polygon, solana, hyperledger, multichain and others. By organization size, the market is divided into SME’s and large enterprises. Based on application, the India blockchain technology market has been segmented into payment & transactions, smart contracts, digital identity, documentation, exchanges, gaming, legal tech, accounting, supply chain/ logistic transactions, micro payments, and others. Based on end user, the market is segmented BFSI, healthcare & life sciences, IT & telecommunications, retail, government, travel & hospitality, education/ research institutions, media & entertainment, real estate & construction, and others.
Major PlayersThe key players in the market are Infosys Limited, Tata Consultancy Services Ltd., IBM Corporation, Accenture, Circle Internet Financial Limited and Others.
Companies MentionedInfosys Limited
Tata Consultancy Services Ltd.
IBM Corporation
Accenture
Circle Internet Financial Limited and Others
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.