Blockchain infrastructure and related distributed authentication and accounting technologies are poised to transform ICT, and is so doing, cause substantial disintermediation across a wide variety of industry verticals. Lessons learned in FinTech and traditional banking from the deployment and operation of decentralized authentication, clearing and settlement will be applied towards many telecom and computing problems for the benefit of many industry verticals. The blockchain technology market impact will be wide-ranging (including everything from investing/trading to the legal cannabis industry) and very deep in terms of changes to supply chains and relationships between vendors, customers, and peers.
For example, blockchain is being used in the fleet tracking market to identify care of custody and ownership of vehicles. This assists to entire ecosystem, including fleet managers/owners, customers, and insurance companies. This will also help support a robust fractional usage/ownership value chain in which vehicles are used by multiple clients. In a related example, blockchain is also used in the general asset tracking market for similar purposes such as monitoring changes in ownership/custody of trailers that are often used by multiple semi-tractors as part of shipping operations and other logistics related industry verticals such as the autonomous vehicle market.
Integration and operation of blockchain technology will redefine how various industries operate, dramatically improving efficiencies, and reduce the cost of doing business. One important example is the Internet of Things (IoT), which is a very promising area as Mind Commerce anticipates that the use of blockchain in IoT networks/systems will be one of the key means for authenticating and authorizing transactions. We see blockchain as a Service representing a key service offering for many market segments as a mean of solution introduction and scalability via a cloud services model.
This blockchain technology market report examines the technology, leading companies, and solutions in the evolving blockchain ecosystem. The report evaluates current and anticipated use cases for blockchain and assesses the market potential globally, regionally, and segmented by deployment type and industry vertical for the period 2019 to 2024. The report evaluates key players, solutions, and use cases. The report also assesses the prospect of integrating blockchain with other technologies including IoT and artificial intelligence. The report includes detailed forecasts by use case, application, and industry verticals from 2019 to 2024.
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