Reports
Sale
Global Blockchain Technology Market Size, Share, Forecast: By Type: Public, Private, Hybrid; By Component: Application and Solution, Infrastructure and Protocols, Middleware, Others; By Application: Digital Identity, Exchanges, Payments, Others; By Enterprise Size; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Blockchain Technology Market Outlook
The global blockchain technology market stood at a value of USD 19.03 billion in 2023 and expected to grow at a CAGR of 82.8% in the forecast period of 2024-2032 to attain USD 4337.39 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Rising Application of Blockchain Technology in the Payments Sector to Bolster the Growth of the Blockchain Technology Industry
Based on application, the payments segment is likely to account for a significant share in the market. Payments and transactions are an integral and one of the most important aspects of any enterprise. A company can bear a huge financial loss if payment transactions are faulty or unreliable. Therefore, in order to eradicate the risk of any financial loss, blockchain technology is used to make the payment system more efficient. It also minimises operational costs and offers transparency. Over the forecast period, the demand for blockchain technology is likely to be significant, owing to the fact that there is no middleman required in the payment process initiated by blockchain.
Furthermore, the payment processes initiated with the help of blockchain technology are quick and secure and can be made while sitting in the office or at home. Meanwhile, the smart contract blockchain segment is likely to account for a considerable share in the market. In a smart contract, a network of computers executes the actions when predetermined conditions have been met and verified. These statements cannot be altered, tampered or manipulated by any third party, which is a great advantage for any company. Furthermore, the contract agreements are stored in systems involving blockchain and cannot be hacked, which is expected to provide an impetus to the market growth in the forecast period.
Rising Demand from Major End Use Sectors to Bolster the Market Growth
On the basis of end use, the financial segment accounted for a significant share in the market and is likely to grow significantly in the forecast period. The growth can be attributed to the growing trend of cryptocurrencies, initial coin offerings (ICOs), and reduced total cost of ownership. The blockchain technology in financial systems initiated rapid transactions and is reliable. Meanwhile, the healthcare segment is likely to grow at a rapid pace in the forecast period. The COVID-19 pandemic was the most challenging phase for the healthcare sector, especially in developing economies. This fostered the need for enhancing the healthcare infrastructure and making the payment system more efficient. In developed economies of the world, data protection laws are being incorporated in the healthcare system in order to prevent data theft and breach. This is expected to aid the market growth in the forecast period.
North America to Dominate the Blockchain Technology Industry Globally
The significant growth of the healthcare industry, growing investments in small and medium enterprises, and the rapid technological advancements are likely to be the key factors propelling the market growth in North America. The adoption of blockchain technology in the banking and financial services sector is anticipated to guide the growth of the market in the forecast period. In addition, the market is expected to be aided by the growing efforts by various institutions in the United States and Canada to enhance the customer experience and deploy advanced technology. Furthermore, the growing adoption of blockchain in various end use industries, including healthcare, government, media and entertainment, transportation and logistics, and retail, among others, is likely to propel the market growth in the forecast period.
Blockchain Technology: Market Segmentation
Blockchain technology is defined as the system of recording information or data in a way that is impossible to manipulate or hack. Blockchain technology uses a shared and immutable ledger that can only be accessed by members with permission.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Following are the types of blockchain technology:
- Public
- Private
- Hybrid
On the basis of component, the market can be segmented into:
- Application and Solution
- Infrastructure and Protocols
- Middleware
- Others
The significant applications of blockchain technology include:
- Digital Identity
- Exchanges
- Payments
- Smart Contract
- Supply Chain Management
- Others
Based of enterprise size, the market is divided into
- Large Enterprises
- Small and Medium Enterprises
The different end uses of the technology include:
- Financial Services
- Government
- Healthcare
- Media and Entertainment
- Retail
- Transport and Logistics
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Growing Digitalisation in the Payment Systems to Boost the Growth of the Blockchain Technology Industry
The global blockchain technology industry is driven by the growing demand for digital payment systems by various institutions in order to secure their transactions. The transactions made through systems involving blockchain are rapid and improve performance by reducing the redundancy of information during transactions. The demand for this technology has also been triggered by the need for businesses to save time and money. Over the forecast period, the rising demand for smart contracts, security requirements in cross-border payments, and the necessity to stop third-party interference are some of the factors which are likely to provide an impetus to the market growth.
Key Industry Players in the Global Blockchain Technology Market
The report gives a detailed analysis of the following key players in the global blockchain technology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BTL Group Ltd.
- Circle Internet Financial Limited
- Digital Asset Holdings, LLC
- Global Arena Holding, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Huawei Services (Hong Kong) Co., Limited.
- Accenture plc
- Bitfury Group Limited.
- SpinSys
- Infosys Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Component |
|
| Breakup by Application |
|
| Breakup by Enterprise Size |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Blockchain Technology Market Analysis
8.1 Key Industry Highlights
8.2 Global Blockchain Technology Historical Market (2018-2023)
8.3 Global Blockchain Technology Market Forecast (2024-2032)
8.4 Global Blockchain Technology Market by Type
8.4.1 Public
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Private
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Hybrid
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Blockchain Technology Market by Component
8.5.1 Application and Solution
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Infrastructure and Protocols
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Middleware
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Blockchain Technology Market by Application
8.6.1 Digital Identity
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Exchanges
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Payments
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Smart Contract
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Supply Chain Management
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Blockchain Technology Market by Enterprise Size
8.7.1 Large Enterprises
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Small and Medium Enterprises
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Blockchain Technology Market by End Use
8.8.1 Financial Services
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Government
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Healthcare
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Media and Entertainment
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Retail
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.6 Transportation and Logistics
8.8.6.1 Historical Trend (2018-2023)
8.8.6.2 Forecast Trend (2024-2032)
8.8.7 Others
8.9 Global Blockchain Technology Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Blockchain Technology Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Blockchain Technology Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Blockchain Technology Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Blockchain Technology Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Blockchain Technology Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BTL Group Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Circle Internet Financial Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Digital Asset Holdings, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Global Arena Holding, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 IBM Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Microsoft Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Oracle Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Huawei Services (Hong Kong) Co., Limited.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Accenture plc
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Bitfury Group Limited.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 SpinSys
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Infosys Limited
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Blockchain Technology Market: Key Industry Highlights, 2018 and 2032
2. Global Blockchain Technology Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Blockchain Technology Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Blockchain Technology Historical Market: Breakup by Component (USD Billion), 2018-2023
5. Global Blockchain Technology Market Forecast: Breakup by Component (USD Billion), 2024-2032
6. Global Blockchain Technology Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Blockchain Technology Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Blockchain Technology Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
9. Global Blockchain Technology Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
10. Global Blockchain Technology Historical Market: Breakup by End Use (USD Billion), 2018-2023
11. Global Blockchain Technology Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12. Global Blockchain Technology Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Blockchain Technology Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Blockchain Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Blockchain Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Blockchain Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Blockchain Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Blockchain Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Blockchain Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Blockchain Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Blockchain Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Blockchain Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Blockchain Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Blockchain Technology Market Structure
Key Questions Answered in the Report
In 2023, the global blockchain technology market attained a value of nearly USD 19.03 billion.
The market is estimated to witness a healthy growth at a CAGR of 82.8% in the forecast period of 2024-2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. Among these, North America accounts for the largest share in the market.
The major drivers of the market include the necessity to stop third-party interference, significant growth of the healthcare industry, growing investments in small and medium enterprises, rapid technological advancements, and growing adoption of blockchain in various end use industries.
The growing demand for digital payment systems and rising demand for smart contracts, security requirements in cross-border payments are the key industry trends propelling the market's growth.
Public, private, and hybrid are the major types of the blockchain technology.
Application and solution, infrastructure and protocols, and middleware, among others are the different components of the product.
Digital identity, exchanges, payments, smart contract, and supply chain management, among others are the significant applications of the product.
Large enterprises and small and medium enterprise are the different enterprise sizes in which the market has been segmented.
Financial services, government, healthcare, media and entertainment, retail and transportation and logistics, among others are the significant end-uses of the product.
The major players in the industry are BTL Group Ltd., Circle Internet Financial Limited, Digital Asset Holdings, LLC, Global Arena Holding, Inc., IBM Corporation, and Microsoft Corporation, Oracle Corporation, Huawei Services (Hong Kong) Co., Limited., Accenture plc, Bitfury Group Limited., SpinSys, Infosys Limited, among others.
Analyst Review
The global blockchain technology market attained a value of USD 19.03 billion in 2023, driven by the growing digitalisation in the payment system. Aided by growing digitalisation and technological advancements in the field of healthcare, banking and financial services,, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 82.8%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into public, private, and hybrid. On the basis of component, the market is divided into application and solution, infrastructure and protocols, and middleware, among others. The significant applications of the product include digital identity, exchanges, payments, smart contract, and supply chain management, among others. On the basis of enterprise size, the market has been segmented into large enterprises and small and medium enterprise. The significant end-uses of the product include financial services, government, healthcare, media and entertainment, retail and transportation and logistics, among others. The major regional markets for blockchain technology market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, among which, North America accounts for the largest share in the market. The key players in the above market include BTL Group Ltd., Circle Internet Financial Limited, Digital Asset Holdings, LLC, Global Arena Holding, Inc., IBM Corporation, and Microsoft Corporation, Oracle Corporation, Huawei Services (Hong Kong) Co., Limited., Accenture plc, Bitfury Group Limited., SpinSys, Infosys Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER