2022
9
UK Blockchain Market Report 2022
2022-08-03T04:26:33+01:00
OX1103147
1495
153874
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Report
en_GB
“Blockchain may have its roots in cryptocurrencies, but it is evolving into a technology with widespread applications led by the banking sector but extending to an almost ubiquitous potential. Despite…

UK Blockchain Market Report 2022

£ 1,495 (Excl.Tax)

Description

The UK Blockchain Market Report identifies how COVID-19 has propelled the blockchain market expansion, the emergence of blockchain-as-a-service and future prospects in the financial, commercial and public sectors. This report covers the blockchain market size, market forecast, market segmentation and industry trends in the blockchain market.

 

Current Blockchain Market Landscape 

Blockchains are an increasing feature across the UK economy. The UK is currently home to 249 high-growth companies developing blockchain-driven software and blockchain services. The vast majority (63%) of these companies are start-ups currently in the seed stage of their development, reflecting the embryonic nature of the blockchain market.

However, rising prices and fuel-based inflation in the Western world cause sufficient concern as they impact corporations’ ability to invest in blockchain technology.

 

Blockchain Market Share and Key Industry Trends

One major disadvantage of blockchain centres is regarding its sustainability credentials. Yet, like any evolving industry, cryptocurrency mining companies have sought to streamline their operations, including placing infrastructure in premises that have high energy efficiency.

The continued development of the financial sector is the driving force behind the blockchain market, with an emphasis on technologies to improve productivity and profitability.

 

Future Trends in the UK Blockchain Market

There is vast potential for blockchain market growth, extending well beyond its roots in cryptocurrencies. While banking and finance will be a significant beneficiary of the technology, applications across virtually every industry are being developed, and smart contracts will substantially broaden the end-use markets.

Read on to discover more details or take a look at all of our UK Financial Services market research.

Quickly Understand

  • How COVID-19 has propelled digitalisation and increased opportunities in the blockchain market.
  • Explores blockchain market growth with future prospects throughout finance, commerce and public services.
  • How central bank digital currencies are evolving while traditional cryptocurrencies continue to demonstrate major volatility.
  • The emergence of blockchain-as-a-service, which will continue to widen the industry opportunities.
  • The high level of venture-capital investment.
  • The blockchain market size and blockchain market share.

 

Covered in this Report

Brands:  Blockchain.com, BCB Group, Copper, Everledger, HLTH, VAKT Global, Juro, Blockhouse, Nivaura, Aztec, iov42, Wintermute, Adhara, BetDEX, Billon, Fetch,.AI, Cobalt DL, Agora, Argent, Coinfirm, Clearmatics, Globacap, Circulor, Sprout.ai.

 

Expert Analysis from a Specialist in the Field

This report, written by Terry Leggett, a leading analyst in the Financial sector, delivers in-depth commentary and analysis to highlight current trends in the blockchain market and add expert context to the numbers.

“Blockchain may have its roots in cryptocurrencies, but it is evolving into a technology with widespread applications led by the banking sector but extending to an almost ubiquitous potential. Despite being a decade old, the technology remains at an early development stage of what is seen to be major exponential growth with applications extending to Web3. With such vast growth expectations, it is attracting major venture-capital activity.”

Terry Leggett - Research Analyst

Terry Leggett
Senior Analyst

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Market context
    • Products covered in this Report
  2. Executive Summary

    • The five-year outlook for blockchain
      • Figure 1: Blockchain outlook, 2022-27
    • The market
    • Global market size and forecast
      • Figure 2: Global market size for blockchain, 2016-26
    • European and UK market size and forecast
      • Figure 3: European market size for blockchain, 2017-26
    • Market segmentation
      • Figure 4: Global segmentation of blockchain market, by end-use sector, 2021
    • Market drivers and obstacles
      • Figure 5: Expected role of digital assets, globally, 2021
      • Figure 6: Largest obstacles identified for acceptance and use of digital assets, globally, 2021
    • Companies and brands
    • The global industry
      • Figure 7: Global-leading companies in blockchain, 2022 (US$)
    • The UK industry
      • Figure 8: End-use focus of UK blockchain companies, 2022
    • Major funding activity
      • Figure 9: Leading UK blockchain companies, by equity deals, up to 2022 (£ million)
  3. Issues and Insights

    • Economic developments and blockchain
    • Sustainability and blockchain
      • Figure 10: PUE of a data centre
  4. Market Size and Performance

    • Strong growth emerging
    • The global market
      • Figure 11: Global market size for blockchain, 2016-21
    • The role of the UK
      • Figure 12: European market size for blockchain, 2017-21
  5. Market Forecast

    • Strong prospects
      • Figure 13: Blockchain outlook, 2022-27
    • Accelerating growth
      • Figure 14: Global market forecast for blockchain, 2021-26
      • Figure 15: Expected role of digital assets, globally, 2021
      • Figure 16: Largest obstacles identified for acceptance and use of digital assets, globally, 2021
      • Figure 17: European market forecast for blockchain, 2021-26
    • Market drivers and assumptions
      • Figure 18: Key drivers affecting MBD’s market forecast, 2016-26
    • Forecast methodology
  6. Market Segmentation

    • An evolving end-use profile
      • Figure 19: Global segmentation of the blockchain market, by end-use sector, 2021
    • Banking, finance and insurance
    • Cryptocurrencies and central bank cryptocurrencies
    • Internet of Things
    • Supply chain
    • Healthcare
  7. Market Developments

    • Introduction
    • Financial and banking services
    • Banking
    • Credit
    • Stocks
    • Crowdfunding
    • Crypto exchanges
    • Insurance
    • Accounting
    • Industrial and commercial supply chains
    • Aerospace and defence
    • Automotive
    • Construction and real estate
    • Energy
    • Food and beverages
    • Mining
    • Pharmaceuticals
    • Publishing and media
    • Public services
    • Aid
    • Education
    • Healthcare
    • Law enforcement and justice
    • Public records and voting
    • Public transport
    • Waste management and recycling
    • Travel and logistics
    • Air travel
    • Hospitality bookings
    • Logistics
    • Taxis and car sharing
    • Retail
    • Agriculture
    • ICT
    • 3D printing
    • Cloud computing
    • IoT
    • Other
    • Other
    • Charities
    • Wills
  8. Market Drivers

    • General economic climate
    • The conflict in Ukraine is impacting the UK economy
    • GDP reached pre-pandemic levels in November 2021
    • …but the post-COVID-19 bounce-back is short-lived
    • Employment has held up better than expected
    • Inflation is the key concern for 2022 for consumers, brands and the economy
    • Consumers’ financial wellbeing has slipped from its recent high point…
      • Figure 20: Household financial wellbeing index, 2016-22
    • …and concerns over inflation are coming to the fore
      • Figure 21: Consumer concerns about household finances, 2021-22
    • Digitisation continues to grow
    • Global expansion
      • Figure 22: Worldwide internet usage, by region, 2021 (millions and %)
    • UK expansion
      • Figure 23: UK adult internet usage, 2013-20
      • Figure 24: Percentage of companies and charities with digital services, 2021
    • COVID-19 accelerated the trend
      • Figure 25: Location of working adults, 2020-21
    • Web3 and blockchain
    • Cryptocurrencies
    • Introduction
      • Figure 26: Number of cryptocurrencies, 2013-22
      • Figure 27: Cryptocurrency users by continent, 2021 (million)
      • Figure 28: Main reasons identified for investing in cryptocurrency in the UK, 2022
      • Figure 29: Main reasons identified for not investing in cryptocurrency in the UK, 2022
    • Bitcoin
      • Figure 30: Closing prices for Bitcoin, January 2016-June 2022
    • Other cryptocurrencies
      • Figure 31: Closing prices for Ethereum, January 2016-June 2022
    • Stablecoins come to the UK
  9. Industry Structure and Companies

    • The global context
      • Figure 32: Global-leading companies in blockchain, 2022 (US$)
    • The UK emerging sector
      • Figure 33: End-use focus of UK blockchain companies, 2022
      • Figure 34: Leading UK blockchain companies, by equity deals, up to 2022 (£ million)
    • Prolific equity funding in the UK
  10. Appendix – Data Sources, Abbreviations and Supporting Information

  11. Appendix: Forecast Methodology

    • Market forecast and prediction intervals
      • Figure 35: Market forecast of blockchain, 2021-26 ($ billion)
    • Market drivers and assumptions
    • Forecast methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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