Blockchain Market Forecast: Predictions for Future Growth and Adoption (2024)

The latest global blockchainreport 2024 offers acomprehensive and preciseexamination of the various facets associated with opportunities and obstacles for business expansion, as well as risk factors andmarket trends. The study offers insightful data on market size, comprehensive and up-to-date details on thelatest technological developments,SWOT and PESTLEanalysis, and other topics.

It provides a thorough examination of global technical trends, growth determinants, and participant profiles that includesupply-demand scopesand company histories. The study also offers a comprehensive analysis of therevenue, demand, competitive landscape, and regional sectorsof the global industry. This study is an essential resource for any company trying to determine its long-term goals and strategy for the future.

The global blockchain technology market size was valued at USD 17.57 billion in 2023 and is projected to grow from USD 27.84 billion in 2024 to USD 825.93 billion by 2032, exhibiting a CAGR of 52.8% during the forecast period (2024-2032).

List of Top Companies in Blockchain Market:

  • Accenture PLC (Ireland)
  • Amazon Web Services, Inc. (U.S.)
  • Applied Blockchain Ltd. (U.K.)
  • IBM Corporation (U.S.)
  • Intel Corporation (U.S.)
  • LeewayHeartz (U.S.)
  • Microsoft Corporation (U.S.)
  • Oracle Corporation (U.S.)
  • R3 (U.S.)
  • Tata Consultancy Services Limited (India)

Market Overview of Global Blockchain Market: According to our latest research, the globalBlockchain Market looks promising in the next 5 years. As of 2022, the globalBlockchain Market was estimated at USD million, and it’s anticipated to reach USD million in 2028, with a CAGR during the forecast years. This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Blockchain Market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.

TheBlockchain Market report presents a comprehensive analysis of market dynamics, encompassing growth drivers, restraining factors, opportunities, current trends, and value chain analysis. It provides valuable insights to stakeholders, investors, and businesses aiming to capitalize on the immense potential of the Blockchain Market. By examining the factors influencing market growth and understanding the value chain, the report equips readers with the necessary information to make informed decisions and seize opportunities in the evolvingblockchain industry.

Customize this report as per your requirement -

Key Reasons to Buy Blockchain Market Report:

-Up-to-date and Comprehensive Information: The report offers the latest and comprehensive information regarding technological advancements, market trends, and growth drivers, ensuring you stay well-informed.

-In-depth Analysis: Dive deep into the market with the report's in-depth analysis, which includes SWOT and PESTLE analysis. Gain valuable insights into market size and make informed decisions.

-Key Player Profiling: The report profiles key players in the industry, providing you with valuable information about their company backgrounds, supply-demand scope, and market strategies. Understand the competitive landscape and identify potential partners or competitors.

-Holistic Overview: Get a comprehensive overview of the industry, including revenue figures, demand status, competitive landscape, and regional segments. Gain a thorough understanding of the market dynamics and identify potential growth areas.

-Strategic Planning Resource: The report serves as a valuable resource for strategic planning, helping your company develop future strategies and plan its path forward in the industry. Make data-driven decisions and stay ahead of the competition.

Regional Outlook:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
  • Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
  • South America (Brazil, Argentina, Columbia etc.)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Five Forces and Pestle analysis:

To better understand the market situation, a five-force analysis is conducted, including buyer bargaining power, supplier bargaining power, threat of new entrants, threat of substitutes, and threat of competition.

  • Politics(political policy and stability, trade, finance, tax system)
  • Economics(interest rates, employment or unemployment rates, commodity costs, exchange rates)
  • Social(family demographics, education level, changing cultural trends, changing attitudes, changing lifestyle)
  • technology(digital or mobile technology changes, automation, research and development)
  • Law(labour law, consumer law, health and safety, international and trade regulations and restrictions)
  • Environmental(climate, recycling processes, carbon footprint, waste management, sustainability)

How big is the Blockchain Market ?

The global blockchain technology market size was valued at USD 17.57 billion in 2023 and is projected to grow from USD 27.84 billion in 2024 to USD 825.93 billion by 2032, exhibiting a CAGR of 52.8% during the forecast period (2024-2032).

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim to highlight the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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Blockchain Market Forecast: Predictions for Future Growth and Adoption (2024)

FAQs

Blockchain Market Forecast: Predictions for Future Growth and Adoption? ›

[444 Pages Report] The global blockchain market size is projected to grow from USD 20.1 billion in 2024 to USD 248.9 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 65.5% during the forecast period.

What is the growth prediction for the blockchain industry? ›

Originally, a forecast from June 2022 predicted "blockchain technology" would reach 1,235 billion U.S. dollars by 2030, at a CAGR of 82.8 percent. A newer forecast from December 2023 predicts a value of 943 billion U.S. dollars in 2032 with a CAGR of 56.1 percent.

Is blockchain adoption increasing? ›

Blockchain adoption gained pace in 2020 and 2021 due to the impressive price performance on crypto exchanges driven by Bitcoin's third supply halving on May 11, 2020. Supply halvings are programmed into Bitcoin's software to occur every four years.

What is the future of the blockchain market? ›

A report by Fortune Business Insights predicts that the global blockchain market will grow from $27.84 billion in 2024 to $825.93 billion by 2032, just as key blockchain-related concepts such as DeFi, Web3, NFTs, and the Metaverse seem to be rising in popularity alongside it.

What is the blockchain market forecast for 2030? ›

The global blockchain technology market is expected to witness a compound annual growth rate of 87.7% from 2023 to 2030 to reach USD 1,431.54 billion by 2030.

What is the growth potential of the blockchain? ›

Blockchain Technology Market: Overview

According to Custom Market Insights (CMI), The Blockchain Technology Market size was estimated at USD 4.8 Billion in 2022 and is expected to hit around USD 69 Billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 68% from 2023 to 2032.

How blockchain will shape the future? ›

Blockchain enables secure ownership verification and digital identity solutions, giving individuals more control over their personal information. The future will likely witness the integration of various blockchain networks, enabling seamless communication and data exchange across platforms.

Why is blockchain adoption slow? ›

Scalability issues, regulatory uncertainties and the association of blockchain with volatile cryptocurrency markets hindered its broader adoption.

What are the main barriers to blockchain adoption? ›

One of the main barriers to blockchain adoption is the technical complexity of the technology itself. Blockchain involves complex concepts such as cryptography, consensus algorithms, smart contracts, and distributed ledger.

How quickly is blockchain growing? ›

According to MarketsandMarkets the global blockchain market was around $7.4 billion in 2022 and is set to generate revenue over $94 billion by the end of 2027 with a compound annual growth rate (CAGR) of 66.2%. North America is currently the dominant region in the global blockchain market.

Is blockchain development the future? ›

In the next five years, we can expect to see more advancements in blockchain, with increased scalability, improved interoperability, and enhanced security measures. As more businesses recognize the potential of decentralized systems, the demand for skilled blockchain developers is likely to grow.

Will blockchain replace cloud computing? ›

While blockchain offers unique capabilities, it is unlikely to replace traditional cloud computing entirely. Instead, these technologies are likely to coexist, with each serving specific use cases and complementing the other's strengths.

What is the growth and demand of blockchain industry in 2024? ›

According to report by market research, the global blockchain technology market is expected to reach astonishing heights in 2024. The reports suggest that the market value could surpass $524 million by the end of 2024, along with an increase in adoption of blockchain among various distinct industries.

Is blockchain the future or hype? ›

Blockchain is already used to facilitate identity management, smart contracts, supply chain analysis, and much more. The full potential of blockchain technology likely remains to be discovered, but it is likely to be used in conjunction with emerging technologies.

What is the future of blockchain 2025? ›

By 2025, blockchain technology will have moved beyond early adoption stages to become a mainstream solution for many businesses. Major corporations and even small enterprises will integrate blockchain to enhance transparency, security, and efficiency.

How fast is the blockchain industry growing? ›

[444 Pages Report] The global blockchain market size is projected to grow from USD 20.1 billion in 2024 to USD 248.9 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 65.5% during the forecast period.

What is the demand for blockchain in 2025? ›

The blockchain industry is booming and it's projected to continue to grow in the coming years. As above, the global blockchain market will be valued at 39.7 billion dollars by the year 2025.

What is the potential of blockchain technology for industry? ›

Blockchain addresses longstanding challenges in the fashion industry by improving data management, enhancing supply chain procedures, and reducing counterfeit risks. It allows brands to tokenise unique assets for easy management, trading, and verification.

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