Modex: Competitive Analysis
The top five competitors of Modex are IBM's Blockchain Platform IDE, Zilliqa, Pyrofex's Cryptofex, Dino Platform, and BlockIDE.
We commenced our research by examining the official website of Modex and their social media profiles on LinkedIn and Crunchbase. This gave us an idea on the service-capabilities of Modex. By taking this as a lead, we looked into several reputed sources such as TechCrunch, TechRadar, GitHub, BlockGeeks, CodeMentor, HackerNoon, and CryptoNinjas for company profiles that matched with Modex.
Further, we analyzed domains such as Owler, CB Insights, Crunchbase, and Hoovers to identify the competitors of Modex. Following this, we also looked for expert opinions in LinkedIn and credible news publications regarding integrated development environments (IDE). However, since IDE is a relatively new software application, there are not many players who are offering IDE. This was apparent when we were unable to locate significant information in the aforementioned sources. Also, in order to fulfill the criteria, we could not randomly select companies who operate in the domain of blockchain.
However, we were still able to identify five companies. The companies that we selected provide IDE for blockchain and more general development platforms for DLT developers. Nonetheless, not of all these companies provide the same importance on training as a service. But, all of them have some aspects of learning associated with them. For example, in Cryptofex, programmers can learn how to code on a Solidity IDE, whereas, BlockIDE enables novice developers to develop codes on their own.
Since five of the selected companies or competitors were founded between 2016 and 2018 and being small private companies backed by funding, information concerning their revenue was non-existent in the public domain. We were only able to acquire the market share of IBM in the total corporate blockchain market. Due to lack of revenue details, we were unable to rank the companies and deployed the following strategies to find the required information:
ALTERNATE DATA SETS
Since most of the selected companies were hardly two or three years old and private companies backed up by venture capital, we decided to use their funding amount as a metric to rank. For this, we scanned Crunchbase, Pitchbook, CBInsights and sites like Owler, Hoovers and Manta. However, except Zilliqa and BlockIDE, the required data points could not be found for any other company.
TECH DATABASES AND PORTALS
We looked into TechCrunch, TechRadar, GitHub, BlockGeeks, CodeMentor, HackerNoon, and CryptoNinjas to identify the revenue of the companies. We also examined market research analysis portals such as Grandview, MarketsandMarkets, Technavio, and other similar sites to gain insights on the market players and their share. However, no information was available relating to revenue or market share on the accessible side of the paywall in these reports.
BROADENING THE CRITERIA
We tried to discover the market size of the entire blockchain market and the percentage share of IDE segment (companies like Modex) to get an overall idea on the size of this market. However, although the total market size of blockchain market was available, there was no data available relating to IDE or development platform providers.
ALTERNATE RANKING METRICS: TWITTER FOLLOWERS
Due to the above-mentioned limitations, we decided to find out the number of followers the companies have on social media, assuming that the popularity of these companies must have translated to higher number of users. We discovered that Twitter was the only platform which was used by all the companies. Therefore, we ranked the companies based on their twitter followers.
Top five competitors of modex
1. IBM'S BLOCKCHAIN IDE PLATFORM
- Company name: IBM
- Revenue or market share: IBM claims to have 32% of the corporate blockchain market share. However, the precise or the actual market share of IBM's IDE platform was not publicly available.
- Twitter followers: 66,600
- Facebook followers: 19,075
- The link to the official website of IBM is here.
What makes IBm a competitor to modex?
IBM's new 'Blockchain Platform IDE' enables developers to discover, code, test, debug, package, deploy, and publish smart contracts identical to that of Modex.
- Company name: Zilliqa
- Revenue or market share: No information was available regarding the company's revenue or market Share. However, the company was founded in 2016 and has received a total funding of $1 million to date.
- Twitter followers: 59,300
- Facebook followers: N/A
- The link to the official website of Zilliqa is here.
What makes zilliqa a competitor to modex?
- Like Modex, Zilliqa provides an integrated development environment (IDE) for Scilla (Smart Contract Intermediate Level Language) to develop secure and scalable smart contract applications.
- Also, like Modex, Zilliqa offers tutorials on how to create smart contracts with their IDE.
3. Pyrofex's cryptofex
- Company name: Pyrofex
- Revenue or market share: Information regarding the revenue of Pyrofex is unavailable in the public domain.
- Twitter followers: 319
- Facebook followers: 586
- The link to the official website of Cryptofex is here.
What makes cryptofex a competitor to modex?
Pyrofex's Cryptofex is a competitor to Modex because they provide IDE for blockchain developers, user support to develop smart contracts, and guidance to programmers on learning how to code in a Solidity IDE.
4. Dino platform
- Company name: Dino Platform
- Revenue or market share: Revenue details of Dino Platform is non-existent in the public domain.
- Twitter followers: 188
- Facebook followers: 286
- The link to the official website of Dino Platform is here.
What makes Dino platform a competitor to modex?
Like Modex, Dino Platform provides smart contract IDE with a cloud-based graphical user interface (GUI) which helps developers to build their smart contracts.
- Company name: BlockIDE
- Revenue or market share: No information on BlockIDE's revenue or market share was publicly available. The company was founded in November 2017 and has received a funding of $25,000 from one funding round.
- Twitter followers: 78
- Facebook followers: 272
- The link to the official website of BlockIDE is here.
What makes blockide a competitor to modex?
Like Modex, BlockIDE enables new and skilled developers to develop, manage, and deploy smart contracts using any blockchain in a secure and private hyperledger in their IDE. Their smart contract wizard also bridges the gap between blockchain technology and helps users to integrate smart contracts into their existing infrastructure.