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Blockchain Market: By Component, By Blockchain Type, By Provider, By End User Industry and Geography
Blockchain Market size was valued at US$ 6,843.9 million in 2023 and is poised to grow at a CAGR of 42.1% from 2024 to 2030. Blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Moreover, blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. Additionally, the key factors driving the blockchain market are rising venture capital funding and investments in blockchain technology, security and immutability, growing demand for transparency and traceability, globalization, and cross-border transactions to bolster the demand for blockchain platforms and services in the forecast period.
Moreover, blockchain technology is a catalyst for digital transformation and inventions across various industries, enabling novel business models, products, and services. Blockchain-based services such as tokenized assets, decentralized finance (DeFi), and Non-fungible tokens in turn are anticipated to drive the market in the forecast period. Moreover, blockchain technology enlarged prominence with the emergence of cryptocurrencies like Bitcoin and Ethereum. The blockchain market comprises the use of cryptocurrencies, investments, trading, and digital chattels for financial transactions, investments, remittances, and decentralized finance (DeFi) applications. Moreover, the collaboration between the healthcare and life science, IoT, telecom and market players is anticipated to drive the blockchain market in the forecast period.
However, the challenges associated with the blockchain market are private keys, the possibility of disruption of network security, high cost associated with the implementation process, inefficient mining process, environmental impacts, storage issues, and immutability remain significant barriers that hamper the growth of the blockchain market in the forecast period. However, blockchain-based identity management systems unlock novel opportunities for invention, disruption, and value creation. Organizations funds for blockchain experimentation, research, and development to stay competitive and capitalize on the emerging trends and opportunities, which in turn is anticipated to create lucrative opportunities for the blockchain market in the forecast period.
Study Period
2024 - 2030Base Year
2023CAGR
42.1%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The increasing demand for blockchain, especially in cryptocurrency, healthcare and life sciences, IoT, telecom in developed and emerging countries is a key factor surge the Blockchain Market over the forecast years. The swiftly rising digital environment is anticipated to fuel the demand for blockchain technology from corner to corner in several industries. Correspondingly, the utilization of digital payment systems is further predicted to gain traction with the adaptation of this technology. As the growth opportunities for the blockchain market are rising, several players are comprehensively capitalizing in this blockchain technology. For instance, In May 2021, Ernst & Young Global Limited declared novel capitalization of nearly USD 100 million to enlarge its offerings to the public domain, sequentially, which is anticipated to fuel the demand for the growth of the blockchain technology in the forecast period.
Report Benchmarks |
Details |
Report Study Period |
2024 - 2030 |
Market Size in 2023 |
US$ 6,843.9 million |
Market CAGR |
42.1% |
By Component type |
|
By Provider |
|
By End User |
|
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The global blockchain market size was valued at US$ 6,843.9 million in 2023 and is projected to grow at a CAGR of 42.1% from 2024 to 2030.
North America is expected to dominate the Block Chain Market.
The key factors driving the blockchain market are rising venture capital funding and investments in the blockchain technology, rising government initiative to bolster the demand for the blockchain platforms and services in the forecast period.
BTL Group Ltd., Monax, Circle Internet Financial Limited, Linux Foundation, IBM Corporation, Global Arena Holding, Inc. (GAHI), Digital Asset Holdings, LLC, Deloitte Touche Tohmatsu Limited, Paradigm Sports, Microsoft Corporation, Chain, Inc., Ripple
Historic years considered for the market study are 2019 through 2023, 2023 is considered as the base year for market estimation and ten years forecast presented from 2024– 2030.
1. Executive Summary |
2. Global Blockchain Market Introduction |
2.1. Global Blockchain Market Taxonomy |
2.2. Global Blockchain Market Definitions |
2.2.1. By Component |
2.2.2. By Blockchain Type |
2.2.3. By Provider |
2.2.4. By End User Industry |
2.2.5. By Region |
3. Global Blockchain Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Blockchain Market Dynamic Factors - Impact Analysis |
3.6. Global Blockchain Market Competition Landscape |
4. Global Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Blockchain Market, By Component, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1. Platform/Solution |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Blockchain as a Service |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global Blockchain Market, By Blockchain Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1. Public |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Private |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Hybrid |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
7. Global Blockchain Market, By Provider, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1. Application & Solution |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Infrastructure & Protocols |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Middleware |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8. Global Blockchain Market, By End User Industry, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1. Agriculture and Food |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Retail and Ecommerce |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Energy and Utilities |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Healthcare and Life Science |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Insurance |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
8.6. IT and Telecom |
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.6.3. Market Opportunity Analysis |
8.7. Manufacturing |
8.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.7.3. Market Opportunity Analysis |
8.8. Media, Advertising and Entertainment |
8.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.8.3. Market Opportunity Analysis |
8.9. Banking and Financial Services |
8.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.9.3. Market Opportunity Analysis |
8.10. Transportation and Logistics |
8.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.10.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.10.3. Market Opportunity Analysis |
8.11. Others |
8.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.11.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.11.3. Market Opportunity Analysis |
9. Global Blockchain Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Region, 2024 - 2030 |
10. North America Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
10.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Platform/Solution |
10.1.2. Blockchain as a Service |
10.2. Blockchain Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.2.1. Public |
10.2.2. Private |
10.2.3. Hybrid |
10.3. Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Application & Solution |
10.3.2. Infrastructure & Protocols |
10.3.3. Middleware |
10.4. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.4.1. Agriculture and Food |
10.4.2. Retail and Ecommerce |
10.4.3. Energy and Utilities |
10.4.4. Healthcare and Life Science |
10.4.5. Insurance |
10.4.6. IT and Telecom |
10.4.7. Manufacturing |
10.4.8. Media, Advertising and Entertainment |
10.4.9. Banking and Financial Services |
10.4.10. Transportation and Logistics |
10.4.11. Others |
10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Country, 2024 - 2030 |
10.7. North America Blockchain Market Dynamics Trends |
11. Europe Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
11.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Platform/Solution |
11.1.2. Blockchain as a Service |
11.2. Blockchain Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.2.1. Public |
11.2.2. Private |
11.2.3. Hybrid |
11.3. Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Application & Solution |
11.3.2. Infrastructure & Protocols |
11.3.3. Middleware |
11.4. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.4.1. Agriculture and Food |
11.4.2. Retail and Ecommerce |
11.4.3. Energy and Utilities |
11.4.4. Healthcare and Life Science |
11.4.5. Insurance |
11.4.6. IT and Telecom |
11.4.7. Manufacturing |
11.4.8. Media, Advertising and Entertainment |
11.4.9. Banking and Financial Services |
11.4.10. Transportation and Logistics |
11.4.11. Others |
11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Rest of Europe |
11.6. Europe Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Country, 2024 - 2030 |
11.7. Europe Blockchain Market Dynamics Trends |
12. Asia-Pacific Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
12.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Platform/Solution |
12.1.2. Blockchain as a Service |
12.2. Blockchain Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.2.1. Public |
12.2.2. Private |
12.2.3. Hybrid |
12.3. Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Application & Solution |
12.3.2. Infrastructure & Protocols |
12.3.3. Middleware |
12.4. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.4.1. Agriculture and Food |
12.4.2. Retail and Ecommerce |
12.4.3. Energy and Utilities |
12.4.4. Healthcare and Life Science |
12.4.5. Insurance |
12.4.6. IT and Telecom |
12.4.7. Manufacturing |
12.4.8. Media, Advertising and Entertainment |
12.4.9. Banking and Financial Services |
12.4.10. Transportation and Logistics |
12.4.11. Others |
12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. China |
12.5.2. India |
12.5.3. Japan |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Country, 2024 - 2030 |
12.7. Asia-Pacific Blockchain Market Dynamics Trends |
13. Latin America Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
13.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.1.1. Platform/Solution |
13.1.2. Blockchain as a Service |
13.2. Blockchain Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.2.1. Public |
13.2.2. Private |
13.2.3. Hybrid |
13.3. Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.3.1. Application & Solution |
13.3.2. Infrastructure & Protocols |
13.3.3. Middleware |
13.4. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.4.1. Agriculture and Food |
13.4.2. Retail and Ecommerce |
13.4.3. Energy and Utilities |
13.4.4. Healthcare and Life Science |
13.4.5. Insurance |
13.4.6. IT and Telecom |
13.4.7. Manufacturing |
13.4.8. Media, Advertising and Entertainment |
13.4.9. Banking and Financial Services |
13.4.10. Transportation and Logistics |
13.4.11. Others |
13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Rest of Latin America |
13.6. Latin America Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Country, 2024 - 2030 |
13.7. Latin America Blockchain Market Dynamics Trends |
14. Middle East and Africa Blockchain Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
14.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.1.1. Platform/Solution |
14.1.2. Blockchain as a Service |
14.2. Blockchain Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.2.1. Public |
14.2.2. Private |
14.2.3. Hybrid |
14.3. Provider Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.3.1. Application & Solution |
14.3.2. Infrastructure & Protocols |
14.3.3. Middleware |
14.4. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.4.1. Agriculture and Food |
14.4.2. Retail and Ecommerce |
14.4.3. Energy and Utilities |
14.4.4. Healthcare and Life Science |
14.4.5. Insurance |
14.4.6. IT and Telecom |
14.4.7. Manufacturing |
14.4.8. Media, Advertising and Entertainment |
14.4.9. Banking and Financial Services |
14.4.10. Transportation and Logistics |
14.4.11. Others |
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. South Africa |
14.5.3. Rest of MEA |
14.6. MEA Blockchain Market - Opportunity Analysis Index, By Component, Blockchain Type, Provider, End User Industry, and Country, 2024 - 2030 |
14.7. MEA Blockchain Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. BTL Group Ltd. |
15.2.2. Monax |
15.2.3. Circle Internet Financial Limited |
15.2.4. Linux Foundation |
15.2.5. IBM Corporation |
15.2.6. Global Arena Holding, Inc. (GAHI) |
15.2.7. Digital Asset Holdings, LLC |
15.2.8. Deloitte Touche Tohmatsu Limited |
15.2.9. Paradigm Sports |
15.2.10. Microsoft Corporation |
15.2.11. Chain, Inc. |
15.2.12. Ripple |
16. Research Methodology |
17. Key Assumptions and Acronyms |
Key Market Players