Fintech PR
From Instagram to High Times: Unpacking the Power of Vast User Networks
NetworkNewsWire Editorial Coverage
NEW YORK, Sept. 19, 2023 /PRNewswire/ — In the business world, one of the cardinal reasons for mergers and acquisitions (M&As) is the potential for synergistic growth. Successful companies usually measure this in terms of revenue streams, market share and product offerings. However, in the age of digital technology and globalization, a significant facet of growth potential is often found a company’s core customer base and digital reputation. Lucy Scientific Discovery (NASDAQ: LSDI) (Profile) is astutely following this road map utilized by hugely successful corporations by uniquely leveraging user bases to rapidly amplify shareholder value. This well-established, albeit counterintuitive, M&A strategy has been utilized by several major companies including Meta Platforms Inc. (NASDAQ: META), Microsoft Corp (NASDAQ: MSFT), Amazon.com Inc. (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) with the unconventional process producing results that vastly exceeded expected typical M&A metrics.
- Strategic acquisitions prove that harnessing the power of niche user bases can lead to parabolic growth.
- Lucy Scientific Discovery has recognized the value of uniquely leveraging user bases to rapidly amplify shareholder value.
- Earlier this year the company entered into a share purchase agreement to acquire the total IP of High Times.
- Most recently, Lucy announced the signing of an amalgamation agreement to acquire BlueSky Wellness, a move that expands its footprint into the growing global wellness category.
Click here to view the custom infographic of the Lucy Scientific Discovery editorial.
Headline Makers
Meta’s strategic acquisition of Instagram in 2012 for $1 billion was less than one week after the roll out of its Android app, when it accumulated more than a million downloads in a day. Then, in 2014, Meta’s radar locked onto WhatsApp, boasting more than 200 million users. The acquisition price was steep at $19 billion, but the value wasn’t just in the application’s functionality — it was in its colossal global user base.
Microsoft deployed a similar aggressive acquisition strategy of identifying opportunities to diversify and strengthen position and market share by tapping into vast niche user networks. In 2011, Microsoft’s $8.5 billion acquisition of Skype, a platform with more than 660 million global users, became a classic example of how the tech giant was looking beyond just software integration to a global platform integration strategy. Then, in 2016, Microsoft made headlines again by acquiring LinkedIn for $26.2 billion. LinkedIn, unlike other social media platforms, was the first mover and dominant in the professional networking space.
A Golden Opportunity
These moves by Meta and Microsoft underscore a clear strategy: Harnessing the power of niche user bases can lead to parabolic growth.
Enter Lucy Scientific Discovery (NASDAQ: LSDI), a company that has recognized the value in this counterintuitive approach. Lucy’s recent share purchase agreement to acquire the total intellectual property (IP) of High Times shows that the company truly understands the immense value of a large, loyal audience. In an all-stock transaction, the acquisition provides a stream of high-margin licensing and royalty income from the well-regarded High Times. More importantly, with its massive following, the High Times acquisition offers a golden opportunity for Lucy Scientific Discovery to introduce and distribute its products to a captive, engaged audience, while benefitting from significant early-stage revenue.
On closing, Lucy will acquire all the brand rights and fully intends to monetize the broad-based IP through both current and future royalty agreements. Lucy also plans to extend and enhance the existing domestic and international licensing arrangements currently held by High Times, including consumer products and merchandise. The company expects to preserve the core essence of the High Times brands and its followers while simultaneously expanding the follower base and pursuing new avenues of growth and development.
“Lucy expects this acquisition to drive high margin revenue quickly and sustainably,” said Richard Nanula, Lucy Scientific Discovery CEO and executive chair. “This is a great opportunity to grow the market presence of the nearly 50-year-old High Times brand globally through licensing and online distribution. We are confident that this opportunity can add significant value for our shareholders.”
Lucy Scientific Discovery’s move also appears to be a strategic play to leverage an established niche audience for direct product sales, reputation and influence — just like Meta and Microsoft purchased platforms with vast niche user bases to expand their influence,
The message is clear: Niche user bases are invaluable, as they offer immediate access to engaged consumers, a chance for cross-selling, and opportunities for expansion and diversification. As these cases illustrate, sometimes the most compelling asset isn’t a product, patent, or technology—it’s the people using them. In the digital age, where user engagement is currency, companies that recognize and act upon this fact will often find themselves in an enviable position of growth and influence.
Testament to Shareholder Commitment
High Times isn’t the only M&A move that Lucy Discovery has made. In another all-stock deal, the company continued its savvy strategy with the amalgamation agreement to acquire BlueSky Wellness, a move that quickly expands Lucy’s footprint into the growing global wellness category on closing. BlueSky Wellness built an impressive a portfolio of plant-based wellness brands that have generated more than $20 million in each of its last two years that complement High Times’ products and platforms and should positively impact the bottom line of Lucy Scientific Discovery.
“The addition of the BlueSky portfolio and its team will allow us to capitalize on revenue opportunities,” said Nanula. “Coupled with our High Times acquisition, this will strategically position us for substantial near- and long-term growth. The recent announcements are a testament to our commitment to expand and grow our business, adding revenue that diversifies our company and should deliver significant value to our Lucy Scientific shareholders.”
BlueSky is led by a team of seasoned CPG executives with experience at Fortune 500 companies, including PepsiCo, SC Johnson, General Mills and Robert Half. They have built and exited a number of successful companies over the last decade. The acquisition brings a unique suite of marketing capabilities, brand-building prowess and a highly skilled team with extensive relationships to the Lucy Discovery table.
Major League Acquisitions
Meta Platforms Inc. (NASDAQ: META) builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps such as Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology. The company continues to make key acquisitions that support its strategic business plan.
Microsoft Corp. (NASDAQ: MSFT) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more. The company has a long history of acquisitions, with more than a hundred acquisitions since 1994.
Amazon.com Inc. (NASDAQ: AMZN) is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be the most customer-centric company, best employer, and safest place to work in the world. The company has a rich history of acquisitions; most recently the company added One Medical to its roster of strategic additions.
Apple Inc. (NASDAQ: AAPL) designs, manufactures, and markets smartphones, tablets, personal computers and wearable devices. The company offers software applications and related services, accessories, and third-party digital content. Apple’s product portfolio includes iPhone, iPad, Mac, iPod, Apple Watch and Apple TV. Earlier this year, the company acquired Mira, a Los Angeles-based AR startup that makes headsets for other companies as well as the U.S. military. Apple typically doesn’t discuss acquisitions, but it did confirm the acquisition and issued the statement it traditionally provides when buying a company: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
Lucy Scientific Discovery’s last few weeks action of unconventional strategic acquisitions is a clear indication that the company fully recognizes the inherent value of large and loyal user networks. More importantly than just the inherent value of these networks, the company is fast tracking the integration and expansion of these networks and maximizing revenue streams that will ultimately impact shareholder value. Utilizing part of an unconventional playbook from some major league successful acquisitions, Lucy Scientific Discovery is intent on writing a new chapter of success aimed at benefiting all stakeholders.
For more information about Lucy Scientific Discovery Inc., please visit Lucy Scientific Discovery.
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Fintech PR
Sinch Accelerates Adoption of Rich Communication Services (RCS) Business Messaging with RCS Upscale
Leading the Evolution of Customer Engagement with Secure, Interactive, and Branded Messaging Across Devices & Platforms
ATLANTA and STOCKHOLM, Sept. 16, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – XSTO: SINCH), which is pioneering the way the world communicates through its Customer Communications Cloud, is accelerating the adoption of Rich Communication Services (RCS.) Sinch has consistently delivered secure, branded, and interactive messaging solutions, offering flexible options that include messaging APIs, SaaS tools, and messaging enablement services. These solutions empower both brands and carriers to embrace RCS and transform customer interactions.
With Sinch’s RCS Upscale solution, businesses can seamlessly transition from SMS to RCS without additional costs or integration changes. For markets where RCS is not fully supported, Sinch’s SMS fallback ensures continued messaging reach. Customers using Sinch’s RCS solutions have seen unparalleled delivery and engagement rates on high-value use cases across the customer journey, making RCS an ideal choice for businesses looking to transform customer experiences.
Sinch sends millions of RCS business messages each month, helping brands like EasyPark and Micromania-Zing in EMEA, delivery companies in the North America, and banks across Latin America and India. Sinch’s solutions are helping these organizations leverage RCS to improve their messaging capabilities, driving better customer engagement and satisfaction.
The release of iOS 18, which introduces RCS support in select markets, marks a
pivotal moment for the growth of RCS. This development brings a more united and seamless messaging experience between Apple and Android devices for consumers, paving the way for RCS Business Messaging (RBM) adoption. With Apple’s commitment to supporting the RCS Universal 2.4, which includes RBM, the stage is set for broader adoption, providing businesses with a powerful new tool to engage customers through rich, interactive experiences directly in their mobile inbox across a wider range of devices.
Sinch’s innovations in RCS are further evidenced by tools like the Omnichannel Connector on Salesforce AppExchange, which enables Salesforce Marketing Cloud customers to create dynamic, interactive campaigns.
Backed by Sinch’s global super network, strong direct operator connections, and a preferred partnership with Google, the company leads the RCS space and is fully prepared for widespread RCS rollout. Sinch’s APIs, SaaS tools, and carrier enablement services empower both businesses and carriers to create personalized, interactive RCS
experiences, driving significant improvements in customer engagement across industries.
“Sinch RCS products and solutions help businesses quickly upgrade to RCS, whether they’re looking to upscale from SMS or enable richer, more interactive and conversational experiences for their customers,” said Lodema Steinbach, VP of Product & Carrier Relations, North America at Sinch. “With a broad range of offerings and expertise across customer segments, Sinch provides the flexibility businesses need to enhance customer engagement in a secure, trusted environment.”
“As RCS adoption accelerates, we are proud to lead this technological shift,” Steinbach added. “Sinch’s API-first platform and SaaS solutions make it easy for brands to adopt RCS and drive results, whether through simple transactional messaging or richer, more interactive customer engagements. Our deep relationships with mobile operators and in-house expertise position us to support businesses throughout their RCS journey.”
To learn more about implementing RCS and how it can transform customer engagement, download Sinch’s comprehensive guide on building a business case for RCS or contact our team for personalized support.
CONTACT:
For further information please contact:
Janet Lennon, Director of Global PR & Communications
[email protected] |1.206.914.6175
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Fintech PR
Richardson Sales Performance Announces Acquisition of Challenger, Uniting Two Industry Leaders to Redefine the Future of Sales Training
PHILADELPHIA and CHICAGO, Sept. 16, 2024 /PRNewswire/ — Richardson Sales Performance (Richardson), a leading global provider of sales training solutions, today announced its acquisition of Challenger, world-renowned for their research-based Challenger selling approach. This strategic acquisition unites two of the most influential names in the sales performance industry, creating an unparalleled powerhouse poised to deliver innovative, high-impact solutions for sales organizations worldwide.
The combination of Richardson’s expertise in developing role-based sales capabilities and Challenger’s distinctive approach to challenging conventional thinking in sales, marketing, and customer service teams will equip both companies’ customers for greater success. Together, the two companies will offer a more comprehensive suite of solutions designed to elevate sales teams’ performance and drive measurable business outcomes.
Richardson and Challenger’s joint capabilities will provide customers with expanded access to best-in-class methodologies, cutting-edge technology, rich analytics, and a broader range of learning experiences. By leveraging the strengths of both organizations, customers will benefit from a more holistic approach to sales training, encompassing everything from consultative, agile selling skills to disruptive, insight-driven selling strategies.
“The combination of Richardson’s proven track record in equipping sellers with a wide range of sales capabilities and Challenger’s expertise in message creation and challenging conventional thinking creates a unique opportunity for our customers to develop sales teams that are both agile and differentiated,” said John Elsey, CEO of Richardson Sales Performance. “We are excited to join forces with Challenger to provide an unmatched range of solutions that will empower sales professionals to thrive in an increasingly competitive environment.”
The acquisition also opens up new opportunities for employees of both companies. Together, Richardson and Challenger will foster a collaborative and innovative environment where employees can access broader professional development opportunities, leverage combined resources, and contribute to shaping the future of sales training and performance improvement.
Andee Harris, CEO of Challenger, commented, “I believe that our employees are key to driving strategic success. By joining forces with Richardson, we are unlocking critical resources and capabilities that will enable us to accelerate our long-term objectives. This acquisition positions us to enhance both our competitive edge and the opportunities we can offer our team members, strengthening our ability to deliver exceptional value to our customers.”
This transaction has been supported by Richardson’s financial sponsor, Truelink, which was launched in 2022 by Todd Golditch and Luke Myers to work with companies in the industrials and tech-enabled services sectors. The firm’s senior team brings decades of experience to their portfolio company partners, an extensive history of creating value together, and well-established strategies to improve processes, fuel growth, and enhance earnings.
Houlihan Lokey served as the exclusive financial advisor to Challenger.
About Richardson Sales Performance
Richardson is how leading sales organizations around the world are getting better results from their investment in sales training. For far too long, companies have had to deal with a big disconnect between their training and their real results in the field. We connect metrics to behaviors, training to outcomes and sellers to their best performance. For more information, visit www.richardson.com
About Challenger
Challenger is the global leader in training, technology, and consulting to win today’s complex sale. The company delivers a comprehensive portfolio of solutions to sales, marketing and customer service teams. Challenger’s training and consulting is provided through in-person workshops, eLearning and workflow tools, diagnostic and assessment offerings, and other sales acceleration modules. Underpinned by the world-renowned, research-based Challenger™ methodology, Challenger’s solutions help enterprises adopt, develop, communicate and implement more effective commercial strategies on a global scale. For more information, visit www.challengerinc.com.
Media Contact:
Andrea Grodnitzky
Chief Marketing Officer
Richardson Sales Performance
215-940-9255
[email protected]
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Fintech PR
Blockchain Market to Reach $403.36 Billion by 2030, Driven by Rising Demand for Secure and Transparent Transactions in the BFSI Sector and Growing Popularity of Cryptocurrency – Exclusive Report by Meticulous Research®
REDDING, Calif., Sept. 16, 2024 /PRNewswire/ — According to a new market research report titled, ‘Blockchain Market by Type (Public, Private, Hybrid, Consortium), Platform (Ethereum, Hyperledger, Polygon, Solana), Organization Size, Sector (BFSI, Government, Healthcare, Professional Services, Manufacturing), and Geography—Global Forecast to 2030.
The blockchain market is projected to reach $403.36 billion by 2030, at a CAGR of 67.7% from 2023 to 2030.
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The growth of this market is mainly driven by the rising demand for secure and transparent transactions in the BFSI sector, the surging need to prevent data tampering in the healthcare sector, and the growing popularity of cryptocurrency. However, the high costs of blockchain implementation restrain the growth of this market.
Furthermore, SMEs’ focus on leveraging blockchain and the increasing adoption of blockchain among retailers are expected to create significant growth opportunities for the players in this market. However, regulatory uncertainties and the lack of interoperability between blockchain ecosystems are major challenges impacting market growth.
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Increasing Need to Prevent Data Tampering Driving the Adoption of Blockchain Technology in the Healthcare Sector
The growing popularity of cryptocurrency and the need to prevent data tampering in the healthcare sector are key factors increasing the adoption of blockchain technology. Cryptocurrencies, such as Bitcoin, have gained traction in recent years, showcasing the potential of decentralized digital currencies that rely on blockchain technology for secure and transparent transactions. Data integrity and security are of paramount importance in the healthcare sector. Medical records, clinical trial data, and patient information must be protected from unauthorized access, tampering, or alteration. With blockchain technology, healthcare organizations can securely store and share patient records, ensuring the security and integrity of sensitive information. The distributed nature of blockchain technology eliminates the reliance on a single centralized authority, reducing the risk of data manipulation or tampering. The players in this market are focused on launching new offerings for healthcare applications. For instance, in October 2020, IBM Watson Health (U.S.) launched a blockchain-powered digital health pass. This digital health initiative was aimed at allowing users to share their verified health status without exposing the data used to generate it.
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Blockchain Market Analysis: Key Findings
- By Type: In 2023, the public segment accounted for the largest share of 66.9% of the blockchain market. However, the private segment is expected to register the highest CAGR of 70.3% during the forecast period 2023–2030.
- By Platform: In 2023, the Ethereum segment accounted for the largest share of 53.8% of the blockchain market. However, the Hyperledger segment is expected to register the highest CAGR of 71.0% during the forecast period 2023–2030.
- By Organization Size: In 2023, the large enterprises segment accounted for the major share of 74.0% of the blockchain market. However, the small & medium-sized enterprises segment is expected to register the higher CAGR of 70.1% during the forecast period 2023–2030.
- By Application: In 2023, the payments segment accounted for the largest share of 25.2% of the blockchain market. Also, the payments segment is expected to register the highest CAGR of 69.3% during the forecast period 2023–2030.
- By Sector: In 2023, the BFSI segment accounted for the largest share of 41.2% of the blockchain market. However, the healthcare & life sciences segment is expected to register the highest CAGR of 80.2% during the forecast period 2023–2030.
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Blockchain Market Analysis by Segment with Projected CAGR (2023–2030)
|
Category |
2023 Largest Share |
% Share (2023) |
Highest CAGR (2023-2030) |
CAGR % (2023-2030) |
|
By Type |
Public Segment |
66.90 % |
Private Segment |
70.30 % |
|
By Platform |
Ethereum Segment |
53.80 % |
Hyperledger Segment |
71.00 % |
|
By Organization Size |
Large Enterprises Segment |
74.00 % |
Small & Medium Enterprises |
70.10 % |
|
By Application |
Payments Segment |
25.20 % |
Payments Segment |
69.30 % |
|
By Sector |
BFSI Segment |
41.20 % |
Healthcare & Life Sciences |
80.20 % |
Geographic Analysis:
Based on geography, the blockchain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America accounted for the largest share of 38.9% of the blockchain market. This market is projected to reach $136. 4 Billion by 2030.
Financial service industries across North America are poised for transformative change, and leading corporations and start-ups are increasingly investing in fintech. The increasing use of technologies within business ecosystems, the growing number of financial firms, millennials’ preference for digital applications and services for task completion, the rising demand for high-speed apps, and the growing need for real-time data transfer capabilities are expected to support the growth of the blockchain market in North America over the forecast period.
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Furthermore, the presence of several blockchain providers across North America has also contributed to the region’s large market size. For instance, North America is home to some of the most popular blockchain development companies around the globe, including IBM and Amazon Web Services Inc. These companies are actively focusing on the development of innovative blockchain products. Additionally, governments in the region have undertaken several initiatives to support the adoption and raise awareness regarding blockchain technology.
In 2023, the U.S. accounted for the dominant share of 95.4% of the blockchain market in North America. The country’s large market share is mainly attributed to the increasing demand for decentralized financial solutions, the presence of leading blockchain development companies, and the increasing implementation of blockchain technology across retail, government, and BFSI organizations.
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The high potential for the widespread adoption of blockchain technology across the financial services sector, the increasing development of digital currencies and fast payment methods, and the emergence of cryptocurrencies such as bitcoin are driving the growth of the blockchain market in the U.S. Furthermore, research and investments in blockchain technology are creating notable brands such as Libra (Facebook), JPM coin (JPMorgan) and Gemini coin (Winklevoss brothers), broadening the scope of the blockchain market. Leading blockchain providers are implementing solutions across the U.S. to ensure safe & secure transactions. For instance, in April 2021, BitGo (U.S.) implemented blockchain solutions to enable security for CoinLoan (Estonia) clients across the U.S.
Asia-Pacific: The Fastest-growing Regional Market
Asia-Pacific is projected to register the highest CAGR of 71.5% during the forecast period. In 2023, China accounted for the largest share of the blockchain market in Asia-Pacific. Market growth in APAC is attributed to the surging demand for safe transactions across international borders, the growing number of crypto-related businesses, and rising disposable incomes. Government policies and initiatives incorporating blockchain technology in the public sector are also expected to create growth opportunities for the players in this market.
The Asia-Pacific region is a leading fintech powerhouse due to the presence of hotspots, including Hong Kong, Singapore, Melbourne, and Indonesia. The presence of Chinese fintech hubs across Beijing, Shanghai, and Shenzhen, the increasing number of fintech companies across India, and the growing demand for friction-free, peer-to-peer transactions are driving the growth of the blockchain market in APAC.
Governments in the region have recognized the potential of blockchain technology and have launched initiatives to support its development. For example, China has expressed a strong interest in blockchain and has invested heavily in research and development. Singapore has also created a conducive environment for blockchain start-ups through regulatory frameworks and funding. These government initiatives contribute to market growth in the region.
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The U.K. Continues to Dominate the Blockchain Market in Europe
In 2023, the U.K. accounted for the largest share of the blockchain market in Europe. Factors driving market growth in the U.K. include the strong presence of leading financial firms, supportive government initiatives, and advances in fintech.
Blockchain has driven innovation across industries in the U.K. The emergence of distributed ledger technologies, such as blockchain, is influencing industries in the U.K., owing to the rapid development and proliferation of blockchain applications across the country. For instance, in March 2021, the London Stock Exchange partnered with IBM Corporation (U.S.) to develop Turquoise, a blockchain-based platform for issuing digital securities. The platform streamlines post-trade processes, enhances transparency, and attracts new investors by leveraging the benefits of blockchain technology.
Furthermore, Walmart (U.S.) implemented a blockchain solution for tracking and tracing food products in its U.K. stores. This solution helps ensure food safety, improves efficiency, and builds consumer trust. Blockchain technology can also revolutionize healthcare systems by improving data management, patient privacy, and interoperability. In the U.K., the National Health Service (NHS) implemented blockchain in the MediLedger Project led by the NHS National Innovation Center (NIC). This project aims to leverage blockchain to share medical research data securely and efficiently. These factors contribute to market growth in the country.
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Blockchain Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the blockchain market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by leading companies in the blockchain market include product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the blockchain market include IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Infosys Limited (India), Accenture plc (Ireland), Wipro Limited (India), Blockchain.com (U.K.), Circle Internet Financial Limited (U.S.), Ripple (U.S.), Tata Consultancy Services Limited (India), Intel Corporation (U.S.), Chainalysis Inc. (U.S.), Coinbase (U.S.), and BitGo (U.S.).
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Blockchain Industry Overview: Latest Developments from Key Industry Players
- In January 2023, Amazon Web Services (U.S.) launched Avalanche to help bring blockchain technology to enterprises and governments. Avalanche is the first blockchain integrated with Amazon’s cloud-computing platform.
- In January 2023, Ava Labs (Brooklyn) partnered with Amazon Web Services (U.S.) to allow individuals and institutions to launch subnets that can operate as self-sufficient blockchain systems.
- In November 2022, Accenture plc collaborated with NTT DOCOMO (Japan) to accelerate the adoption and application of Web3 for addressing social issues.
- In October 2022, Oracle Corporation launched its Oracle Database 23c Beta, the new version of the world’s most widely used converged database that supports all data types, workloads, and development styles.
- In August 2022, Infosys Limited partnered with VMware (U.S.) to launch a blockchain-based vital records management solution.
- In May 2022, Keep Sea Blue (Athens), an international and independent association, collaborated with Oracle Corporation (U.S.) to use Oracle’s blockchain technology to fight plastic pollution and keep the Mediterranean clean.
- In November 2021, Infosys Finacle (India), a wholly-owned subsidiary of Infosys, collaborated with IBM Corporation (U.S.) to make the Finacle Digital Banking Solution available on Red Hat OpenShift and IBM Cloud with blockchain technology for Financial Services.
- In August 2021, IBM Corporation (U.S.) collaborated with NPTEL to offer a 12-week online course on blockchain architecture, design, and use cases.
- In January 2021, IBM Corporation (U.S.) partnered with Thai Reinsurance Public Company Limited (Thailand) to launch ASEAN’s first reinsurance smart contract platform using its blockchain and hybrid cloud technology.
- In January 2021, Microsoft Corporation (U.S.) collaborated with Invest India to empower tech start-ups. The start-ups shortlisted by Microsoft included Whrrl Fintech Solutions, a company that empowers farmers, traders, and producer companies on a blockchain platform to raise working capital to tide over lengthy crop cycles.
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Scope of the Report:
Blockchain Market Assessment—by Type
- Public
- Private
- Hybrid
- Consortium
Blockchain Market Assessment—by Platform
- Ethereum
- Hyperledger
- R3 Corda
- Polygon
- Solana
- BSC
- Terra
- Other Platforms
Blockchain Market Assessment—by Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
Blockchain Market Assessment—by Application
- Digital Currency
- Asset Protection & Transfer
- Identity Protection
- Payments
- Data Reconciliation & Sharing
- Track & Trace
- Certification
- Other Applications
Blockchain Market Assessment—by Sector
- BFSI
- Government
- Healthcare & Life Sciences
- Retail & E-commerce
- Energy & Utilities
- Professional Services
- Media & Entertainment
- Manufacturing
- Other Sectors
Blockchain Market Assessment—by Geography
- North America
- U.S.
- Canada
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Australia & New Zealand
- Singapore
- Rest of Asia-Pacific (RoAPAC)
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Rest of Europe (RoE)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa
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Blockchain Market Research Report Summary
|
Report Metrics |
Details |
|
Base year considered |
2022 |
|
Forecast period |
2023-2030 |
|
CAGR |
CAGR 67.70% |
|
Market Size |
$403.36 billion |
|
Segments Covered |
By Type (Public, Private, Hybrid, Consortium), Platform (Ethereum, Hyperledger, Polygon, Solana), Organization, Sector (BFSI, Government, Healthcare, Professional Services, Manufacturing), and Geography |
|
Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
|
Companies covered |
International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Infosys Limited (India), Accenture plc (Ireland), Wipro Limited (India), Blockchain.com (U.K.), Circle Internet Financial Limited (U.S.), Ripple (U.S.), Tata Consultancy Services Limited (India), Intel Corporation (U.S.), Chainalysis Inc. (U.S.), Coinbase (U.S.), and BitGo (U.S.). |
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