The blockchain technology market was estimated to be around USD 4.8 billion in 2021 and is expected to reach USD 69 billion by 2030, with a CAGR of roughly 68% between 2022 and 2030. The report examines the market drivers and restraints for blockchain technology and how they will affect demand over the forecast period. The paper also looks at international potential in the global blockchain technology sector.
Browse the full “Blockchain Technology Market Size, Share, Growth Analysis Report By Component (Platform, Services), By Provider (Application, Middleware, Infrastructure), By Organization (Large Enterprises, SMEs), By Application (Transportation and Logistics, Agriculture and Food, Energy and Utilities, BFSI, IT and Telecom, Government, Retail and E-commerce, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/blockchain-technology-market/
Blockchain Technology Market: Overview
The business network can record transactions and track assets more easily, thanks to blockchain technology. Real estate, vehicles, money, and real estate are examples of tangible assets (intellectual property, patents, copyrights, trademarks). On the blockchain network, nearly anything of value may be tracked and traced, lowering costs and risks for all parties. Blockchain is the best technology for delivering this data since it allows for fully transparent, instantaneously shared data to be kept in an immutable ledger only available to authorized network users. Orders, payments, accounts, production, and more may all be tracked using the blockchain network.
Growth Factors
Market expansion is anticipated because businesses like PayPal and Xbox accept cryptocurrency as payment. Numerous eateries have joined with crypto solution providers to enable crypto-based payments for their patrons.
Blockchain technology offers enormous potential in several industries, including finance, cybersecurity, and the Internet of Things. Numerous application areas, including smart city initiatives, smart transportation, vehicle connection and self-driving cars, smart grids, and smart homes, have widely deployed IoT devices. Numerous businesses are creating new technology use cases utilizing IoT devices, which are widely used as IoT devices. Some innovators are using blockchain technology to build decentralized networks of IoT devices. As a result, there is no longer a requirement for a central hub for device connection. Blockchain technology is anticipated to enable direct device-to-device communication, eliminating the need for additional surveillance systems.
Segmental Overview
The blockchain technology industry is anticipated to grow quickly in the retail and e-commerce categories over the projected period. The retail and e-commerce spectrum includes a global network of suppliers, retailers, e-commerce portals, and customers who interact in both physical stores and online digital channels. All retail and online firms are now making significant investments to give their customers a better shopping experience.
Thanks to blockchain technology, the consumer experience is rapidly improving. Retail and e-commerce companies anticipate developing consumer loyalty with a great customer experience. Retailers can utilize smart contracts to settle customer-related issues out of court.
Regional Overview
The market in the Asia Pacific is anticipated to develop at the quickest CAGR during the forecast period. Governments in nations like China, Japan, and India are promoting blockchain technology. This is mainly because many industries may benefit from this technology’s high transparency and efficiency improvements.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 4.8 Billion |
| Projected Market Size in 2030 | USD 6 Billion |
| CAGR Growth Rate | 65% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players |
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| Key Segment | By Provider, By Component, By Organization, By Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your research requirements. |
Platforms and Services, Applications, Middleware, Infrastructure, Type (Private, Public, and Hybrid), Organization Size, and Blockchain Market by Component (Large Enterprises, SMEs), Application (Transportation and Logistics, Agriculture and Food, Energy and Utilities, BFSI, IT and Telecom, Government, Retail and eCommerce, Others)
Key Players Insights
The study in-depth analyzes these major competitors in the blockchain market, along with their business profiles, recent advancements, and important market strategies. Guardtime, Cegeka, Symbiont, BigHand, Applied Blockchain, Auxesis Group, Spinneys, Infosys, NTT Data, Factom, and R3 are a few participants.
Some of the prominent players
- IBM Corporation
- Microsoft Corporation
- The Linux Foundation
- Blockchain Tech LTD
- Chain
- Circle Internet Financial, LLC=
- Deloitte Touche Tohmatsu Limited
- Digital Asset Holdings, LLC
- Global Arena Holding, Inc. (GAHC)
- Monax Labs
- Ripple
- Others
The global blockchain technology market is segmented as follows:
By Component
- Platform
- Services
By Provider
- Application
- Middleware
- Infrastructure
By Organization
- Large Enterprises
- SMEs
By Application
- Transportation and Logistics
- Agriculture and Food
- Energy and Utilities
- BFSI
- IT and Telecom
- Government
- Retail and E-commerce
- Others
Based on Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America