The Foundation Services team developed a market intelligence report to equip our client with robust research intel and actionable recommendations on addressable markets and potential use cases for their new blockchain-based data integrity product.

The Challenge

Data privacy and security are evolving challenges, forcing organizations to adapt quickly to new regulations and shifting conditions. Blockchain-based products provide a means to ensure the consistency and integrity of data, leveraging core attributes such as immutability and transparency. Meanwhile, acceptance of blockchain as a data integrity solution is on the rise. Traditional enterprise SaaS giants like Amazon, IBM, and Oracle are now offering blockchain-driven solutions, and smaller organizations are following suit. Key growth factors in the blockchain market include its extensive use in banking and cybersecurity, adoption for payment systems, smart contracts, digital identities, and supportive government initiatives.

Our Approach

The initial phase focused on analyzing key industries to identify potential use cases for this innovative product. This exploration revealed new opportunities that could shape the overall go-to-market strategy for the blockchain-based data integrity solution. This market intelligence was critical to various teams within the client organization—product, marketing, and research. The report had a two-fold objective:

Objective 01

Identify novel potential use cases in industries that might have been previously overlooked.

Objective 02

Strengthen existing use cases with robust research, industry trends, and market sizing data.

Given that blockchain solutions for data integrity are relatively new and spending statistics by industry are not yet consistent, IT spending was used as a proxy to size the market. This approach helped the client team assess the potential value capture from select industries and focus on the most promising opportunities.

The Solution

Throughout the project, a collaborative approach was adopted to create a concise report with clear recommendations and well-supported facts. The deliverable provided a detailed breakdown of all known factors and current assumptions regarding the product’s market fit and the size of each opportunity. The findings were conclusive: there are more potential use cases for this product than initially anticipated, and uncovering these opportunities may drive future product development beyond the current offerings.