Table of Contents
Executive Summary
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- Impact of COVID-19 on Blockchain
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on Blockchain, 24 August 2020
- Growth slows in 2020
- Cost savings will accelerate post-COVID-19 opportunities
- The market
- Market size and forecast
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- Figure 2: Global market for blockchain, 2017-25 (prepared on 24 August 2020)
- The UK market
- Market segmentation
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- Figure 3: Market segmentation of blockchain, 2020
- Figure 4: Proportion of respondent companies expecting to invest at least US$5 million in blockchain, 2019 and 2020
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- Figure 5: Forecast market segmentation of blockchain, 2025
- Market drivers
- Companies and brands
- Global growth in patents
- Venture capital favouring crypto currencies
- The UK industry
COVID-19 and Blockchain
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- Impact on the market
- Growth slows in 2020
- New applications utilised
- Cost savings will accelerate post-COVID-19 opportunities
- Changes in industry structure
- Impact on end users
- Major global disruption in 2020
- Expands medium-term expectations
- Changes in end use client base
- Impact on companies and brands
- The major tech companies
- The start-up specialists
Issues and Insights
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- COVID-19 opens a new blockchain application
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- Figure 6: Comparisons of world forecasts for GDP, 2020 and 2021 (June 2020)
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- Figure 7: Sector GDP development, Q2 2020
- Blockchain can contribute to environmental issues
The Market – Key Takeaways
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- Commercialisation remains in its infancy
- Major growth expectations
- The COVID-19 impact
- Extension of applications
Market Size and Forecast
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- Blockchain and opportunities from COVID-19
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- Figure 8: Short-, medium- and long-term impact of COVID-19 on Blockchain, 24 August 2020
- Lockdown
- Re-emergence
- Recovery
- The global market and forecast
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- Figure 9: Global market for blockchain, 2017-25 (prepared on 24 August, 2020)
- Market segmentation
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- Figure 10: Market segmentation of blockchain, 2020
- Banking, finance and insurance
- Crypto currencies
- Internet of things
- Supply chain
- Healthcare
- Investing sectors
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- Figure 11: Proportion of respondent companies expecting to invest at least US$5 million in blockchain, 2019 and 2020
- Figure 12: Forecast market segmentation of blockchain, 2025
- Regional differences and the role of the UK
- Market drivers and assumptions
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- Figure 13: Monthly breakdown of UK GDP changes, by sector, February-June 2020
- Figure 14: GDP development Affecting MBD’s market forecast, 2015-24 (prepared on 16 August 2020)
- Forecast methodology
Market Opportunities
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- Introduction
- General areas of business
- 3D printing
- The cloud
- Copywrite
- Data sharing
- Digital Ids
- HR
- Internet security
- Loyalty schemes
- Monitoring supply chains
- Payment processing and money transfers
- Specific industries
- Agriculture
- Air travel
- Equity trading
- Fishing
- Gambling
- Gaming
- Legal sector
- Logistics
- Publishing
- Real estate
- Taxi sharing apps
- Wills and inheritance
- Public sector
- Education
- Elections
- Health
- Law enforcement
- Tax regulation and compliance
- Vehicle registration
- Welfare payments
Market Trends
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- The evolution to date
- Digital currencies, the starting point
- Smart contracts, the development phase
- Overcoming scalability
- The transition to commercialisation
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- Figure 15: The impact of blockchain by industry and benefit
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- Figure 16: Blockchain feasibility by type of asset, technology maturity, standards and regulations and ecosystem, by industry
- Blockchain as a Service
- The growing number of forms of a blockchain
- Public blockchains
- Private blockchains
- Hybrid blockchains
- Federated blockchains
- ‘Coopetition’ and emerging governance models
- Working Group
- Create an entity
- A hybrid
Market Drivers
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- The internet
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- Figure 17: Development of worldwide internet usage, by region, 2000-20
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- Figure 18: Internet penetration of businesses, by size of business, 2018
- The cloud
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- Figure 19: The cloud computing market, 2015-19
- 5G roll out impacted by government policy
- Remote working changed by COVID-19
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- Figure 20: Number of people mainly working from home, 2015-19
- The internet of things
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- Figure 21: Global internet of things installed base, by sector, 2020
- Artificial intelligence and machine learning
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- Figure 22: Global revenues from artificial intelligence software market, 2018-25
- E-commerce – a growth market now stimulated by COVID-19
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- Figure 23: Total development of e-commerce sales, 2015-19
- Figure 24: Segmentation of e-commerce sales, by sector, 2019
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- Figure 25: Proportional importance of e-commerce, by sector, 2018
- Crypto currencies
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- Figure 26: Closing prices of Bitcoin, October 2013 to July 2020
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- Figure 27: Closing prices of Ethererum, September 2015 to July 2020
Companies and Brands – Key Takeaways
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- 2020 – the year of the blockchain patent globally
- Venture Capital finance favouring cryptocurrencies
- The UK has a vibrant blockchain sector
- Blockchain as a Service
Industry Structure
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- Global VC backed deals favour cryptocurrency over enterprise blockchain
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- Figure 28: Global VC-backed deals and financing of blockchain projects, by type, 2015-19
- The world industry explosive growth led by US
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- Figure 29: Global blockchain patents, segmented by country, 2020
- Figure 30: Global corporate share of blockchain patents, 2020
- The UK industry
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- Figure 31: Structure of the UK blockchain sector, 2018 (number)
- Figure 32: Segmentation of UK companies in the blockchain sector, 2018
Competitive Strategies
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- Extending the cloud
- The industry is not only technology specialists
- The wider commercial application
- Governmental assistance
Company Profiles
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- Alibaba Group Holdings
- Activity
- Performance
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- Figure 33: Turnover summary of Alibaba Group Holdings, 2016-20
- Figure 34: Revenue segmentation of Alibaba Group Holdings, 2020 (RMB million)
- Strategy
- Amazon Web Services
- Activity
- Performance
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- Figure 35: Financial performance of Amazon, 2015-19 (US$ million)
- Figure 36: Net sales of Amazon in the UK, 2015-19
- Strategy
- International Business Machines (IBM)
- Activity
- Performance
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- Figure 37: Financial performance of IBM United Kingdom, 2014-18 (£ million)
- Strategy
- Microsoft Corporation
- Activity
- Performance
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- Figure 38: Turnover segmentation of Microsoft, 2019 (US$ millions)
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- Figure 39: Financial performance of Microsoft, 2015-19 (£ million)
- Strategy
- Oracle
- Activity
- Performance
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- Figure 40: Financial performance of Oracle Corporation UK, 2015-19 (£ million)
- Strategy
- R3
- Activity
- Performance
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- Figure 41: Financial performance of R3, 2016-18 (£ million)
- Strategy
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
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