Pune, February 19, 2025 (Globe Newswire) – Blockchain market Size analysis:
“”THE Blockchain market Size was 11.31 billion USD in 2023 and should reach 988.83 billion USD by 2032 and grow to a TCAC of 64.4% during the forecast period of 2024-2032.“”
By type, the public blockchain dominates the market, while the hybrid blockchain sees rapid growth
In 2023, the blockchain public segment held 42% of the blockchain market share, highlighting its domination in decentralized applications and cryptocurrencies. The public blockchains, open and without authorization, played a decisive role in the conduct of innovation and transparency.
The hybrid blockchain segment experiences a remarkable TCAC of 67.5% during the planned period, reflecting its growing attraction among companies looking for the combined advantages of public and private blockchain characteristics.
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The main analysis of the actors listed in this report is:
- Amazon Web Services (Blockchain managed by Amazon, AWS Quantum Ledger database (QLDB))
- Oracle (Oracle Blockchain Platform, Oracle Intelligent Track and Trace)
- IBM (IBM Blockchain platform, IBM Food Trust)
- Huawei (Huawei Cloud Blockchain Service (BCS), Fusioninsight Blockchain)
- Accenture (blockchain accenture for contracts, blockchain accenture for the supply chain)
- TCS (TCS Quartz Blockchain, TCS Bancs Network for Banks)
- Google (Google Cloud Blockchain Node Engine, Google Cloud Confidential Computing)
- Alibaba (Alibaba Cloud Blockchain AS A Service (Baas), Antchain)
- Microsoft (Azure Blockchain Workbench, Azure Confidential Ledger)
- OVHCLOUD (OVHCLOUD BLOCKCHAIN AS A SERVICE (BAAS), OVHCLOUD Public Cloud for Blockchain)
- SAP (SAP Leonardo Blockchain, SAP Information Collaboration Hub for Life Sciences)
- HPE (HPE Mission Critical Distributed Ledger Technology (DLT), Hpe Blockchain Solutions)
- Tencent (tencent cloud blockchain service (tbaas), tencent trustsql)
- Wipro (Wipro Blockchain Innovation Lab, Wipro Blockchain Trade Finance)
- Infosys (Infosys Blockchain Paas, Infosys Final Trade Connect)
- Lumen Technologies (Lumen Edge Bare Metal Blockchain Solutions, Lumen Secure Blockchain Solutions)
- Digitalocean (Digitalocean Blockchain Hosting, Digitalocean Developer Cloud for Web3)
- VMware (VMware Blockchain, VMware Secure Chain for businesses)
Blockchain market Scope of the report:
| Attribute report | Details |
| Market size in 2023 | $ 11.31 billion |
| Market size by 2032 | 988.83 billion dollars |
| Tcac | TCAC from 64.4% from 2024 to 2032 |
| Basic year | 2023 |
| Forecast period | 2024-2032 |
| Historical data | 2020-2022 |
| Key regional coverage | North America (United States, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, the rest of Eastern Europe) Western Europe (Germany, France, United Kingdom, Italy, Spain , Netherlands, Switzerland, Austria, rest of Western Europe)). Asia-Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, rest of Asia-Pacific), Middle East and Africa (Middle East (Water, Egypt, Saudi Arabia, Qatar, Middle East), Africa (Nigeria, South Africa, rest of Africa), Latin America (Brazil, Argentina, Colombia remains from Latin America) |
| Key growth engines | The growing adoption of blockchain for secure and transparent transactions leads to the growth of the blockchain market |
Key regional coverage
North America (United States, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, the rest of Eastern Europe) Western Europe (Germany, France, United Kingdom, Italy, Spain , Netherlands, Switzerland, Austria, rest of Western Europe)). Asia-Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, rest of Asia-Pacific), Middle East and Africa (Middle East (Water, Egypt, Saudi Arabia, Qatar, Middle East), Africa (Nigeria, South Africa, rest of Africa), Latin America (Brazil, Argentina, Colombia remains from Latin America)
Key growth engines
• The rapid proliferation of IOT devices generating massive quantities of sensitive data requires secure management solutions, which stimulates the demand for integration of the blockchain.
• The big decentralized and infiltrated book of the blockchain improves data security, reducing vulnerabilities in IoT ecosystems.
• The adoption of intelligent contracts to rationalize processes, reduce intermediaries and guarantee that compliance propels market growth.
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By application, blockchain is revolutionizing the management of the supply chain with 28% market share
In 2023, the management segment of the supply chain (SCM) represented 28% of revenues from the blockchain market, which reflects its significant contribution to the increase in transparency, traceability and efficiency global supply chains. Blockchain’s unchanging book technology can follow products in real time, minimizing fraud and errors, as well as authenticity. Companies actively create blockchain solutions to improve the operations of the supply chain.
By industry, the BFSI dominates the blockchain market, health care sees the fastest growth
In 2023, the BFSI segment dominated the blockchain market in income, motivated by the ability of technology to improve transactions safety, reduce fraud and rationalize processes. The big decentralized book of blockchain offers transparency and efficiency, which makes it ideal for financial applications.
The health care and life science segment knows the highest TCAC of the adoption of blockchain during the scheduled period. The big infiltrated and transparent book of blockchain responds to some of the most important challenges of health care, such as data security, interoperability and transparency of the supply chain.
By deployment, proof of concept dominates the blockchain market, pilot deployments
In 2023, the deployment segment of the proof of concept held most of the revenues on the blockchain market. The POC is the stage where the adoption of the corporate blockchain must validate the feasibility and efficiency of applications using blockchains before large -scale execution.
The pilot deployment segment is experiencing the fastest growth in the blockchain market during the planned period, motivated by the growing interest of industry to explore the potential of blockchain on a larger scale.
Blockchain market Segmentation:
By component
- Platform / Solution
- Blockchain as a service (Baas)
By type
- Public
- Private
- Hybrid
- Consortium
By request
- Digital identity
- Payments
- Smart contracts
- Supply chain management
- Internet of objects
- Others
By deployment
- Proof of concept
- Pilot
- Production
By industry
- Bfsi
- Energy and public services
- Government
- Health and Life Sciences Society
- Manufacturing
- Telecommunications
- Media and entertainment
- Retail products and consumption
- Travel and transport
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By component, the platform / solution dominates the blockchain market, Baas to see the fastest growth
In 2023, the segment of the platform / solutions held most of the revenues on the blockchain market, reflecting its crucial role and its disposition to companies with tools and infrastructures necessary to create and deploy Blockchain applications. This category includes complete blockchain platforms that allow the company to create personalized blockchain solutions in several areas such as digital identity, monitoring of the supply chain and financial services.
The Blockchain AS A Service (BAAS) segment should know the largest TCAC during the scheduled period, driven by the growing demand for blockchain -based blockchain solutions.
By region, North America directs the blockchain market, APAC is the fastest growth
North America dominated the blockchain market in 2023, capturing 37% of the market share. This is mainly based on the early adoption of blockchain technology in the region, supported by strong technological infrastructure and a friendly regulatory environment. The United States is home to some of the main blockchain world companies, and many companies in industries such as finance, health care and the supply chain have integrated blockchain solutions.
The Asia-Pacific region, however, is ready for the fastest growth in the blockchain market, with an estimated TCAC of 67.05% from 2024 to 2032. Countries like China, India, Japan and South Korea make substantial investments in blockchain technology.
Table of contents – Major key points
1. Introduction
2. Summary
3. Research methodology
4. Impact analysis on market dynamics
5. Statistical reports of information and trends
6. Competitive landscape
7. Blockchain market segmentation, by component
8. Blockchain market segmentation, by industry
9. Blockchain market segmentation, by type
10. Blockchain market segmentation, by application
11. Blockchain market segmentation, by deployment
12. Regional analysis
13.
14. Using and best practices
15. Conclusion
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