FRAMINGHAM, Mass.--(BUSINESS WIRE)--International Data Corporation (IDC) recently published a new assessment of eleven companies providing professional services supporting blockchain technologies. The IDC MarketScape report uses a comprehensive framework to assess these companies relative to a set of criteria that explain both short-term and long-term success in the blockchain services market. The evaluation also incorporates buyer perceptions of these companies' key characteristics and capabilities.
The eleven providers of blockchain services evaluated in this MarketScape report are: Accenture, Deloitte, DXC, EY, IBM, Infosys, KPMG, NTT DATA, TCS, Tech Mahindra, and Wipro.
IDC defines blockchain as a digital, distributed ledger of transactions or records. As a technology, blockchain remains an exciting space, and there is still a lot of white space to be filled in around protocols, governance models, and business models. However, the professional services providers that are building blockchain strategies — and that are evaluated in this document — have transitioned from discussions with clients about the technology — how it works and what the building blocks are — to demonstrating how blockchain supports value creation through increasing efficiencies, unlocking new revenue, and developing new ecosystems.
"As blockchain and distributed ledgers have evolved, a market built around the technologies has slowly begun to emerge, one that includes software vendors, hardware, and services," said James Wester, research director, Worldwide Blockchain Strategies at IDC. "At this point, professional services providers are the most mature in delivering a true product to the market, one that allows their clients to use the technologies to recognize real value. Assessing that market and providing technology buyers with a tool to evaluate their potential partners in this new but very disruptive area is an important task for the development of blockchain and distributed ledger technologies."
The professional services providers evaluated in the report are committed to the vision of how blockchain, distributed ledgers, and decentralized systems can improve processes, increase efficiencies, and create entire new markets. Every company is dedicating resources to innovation and research and development efforts that are designed to educate its customers, and the market in general, about blockchain. In addition, these vendors are all involved with consortiums and industry organizations in developing the standards, code bases, and best practices in the space. Finally, these professional services vendors are also actively building the networks and ecosystems that will be important for the long-term development of blockchain.
"Success for blockchain services providers today will be building industry expertise in the sectors where they choose to go deep and a good mix of technical skills and bench to support engagements versus leading with blockchain as a technology 'answer,'" said Alison Close, research manager, Digital Business Operations and Analytics Services at IDC. "In the long term, as the blockchain services market matures, looking to blockchain as a new delivery model for enterprise software and applications and integrating blockchain with other 3rd Platform technologies will be the next dimension of showing how blockchain drives value."
The report, IDC MarketScape: Worldwide Blockchain Services 2020 Vendor Assessment (IDC #US46393920), offers an assessment of vendors providing professional services supporting blockchain technologies. This study uses the IDC MarketScape model to assess multiple quantitative and qualitative criteria that can be used to evaluate a vendor's offerings and position in the marketplace. The evaluation is based on a standardized set of parameters, which IDC uses to produce a comparative analysis of blockchain services vendors.
About IDC MarketScape
The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The reports provide a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to independently compare the strengths and weaknesses of current and prospective vendors. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market.
For more information about IDC MarketScape, please contact Karen Moser at email@example.com.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.