Global Blockchain Technology Market 2022 – 2030

The global blockchain technology market size 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 as well as how they will affect demand over the forecast period. The paper also looks at international potential in the global blockchain sector.

Overview 

In your corporate network, you can track assets and keep track of transactions using a distributed database called a blockchain. The market for blockchain technology has increased as a result of the rising popularity of datebooks and information decentralization. The importance of blockchain in preserving secure, decentralized transaction records in cryptocurrency systems like Bitcoin is its most well-known feature. The goal of blockchain innovation is to establish trust without the aid of a reliable third party by guaranteeing the accuracy and security of data records.

Blockchain Technology Market: COVID – 19 Impact Analysis

Every aspect of society has been impacted by the COVID-19 epidemic, including people and businesses. The Internet ecosystem is crucial to the global economy. Our reliance on internet commerce has grown significantly as a result of the COVID-19 pandemic. Services for consumers are offered online by BFSI, healthcare and life sciences, manufacturing, retail, transportation, logistics, and other industries. Vendors have observed a rise in interest in blockchain technology marketplaces.

Various governments and regulators are mandating both public and private firms to adopt new teleporting practices and maintain social distance during the COVID-19 pandemic crisis. People are becoming more likely to adopt blockchain as a result of the extensive use of mobile devices and the Internet worldwide. Organizations are more susceptible to privacy issues as a result of these shifting patterns and scattered IT environments, which are driving up demand for blockchain technology solutions.

Growth Drivers

Since the launch of Bitcoin, blockchain technology has expanded quickly and is now being used for trading at a number of financial institutions. Over the past several years, the use of blockchain technology solutions has grown significantly in a range of corporate applications, including payments, exchanges, smart contracts, documents, and digital identities. This market has seen a large influx of start-ups who are now creating blockchain technology solutions.

Blockchain technology investment is growing as a result of cryptocurrencies becoming legal. Additionally, we exhort market players to work harder to enhance their offerings in order to achieve a competitive edge. In the near future, it is anticipated that these companies' efforts will increase the effectiveness and efficiency of blockchain technology. Companies are working to combine blockchain technology with artificial intelligence (AI) capabilities to improve their products and open up new market expansion potential.

Segmentation Analysis

The blockchain technology market is mainly segregated on the basis of component, provider, organization, and application. Public cloud, private cloud, and hybrid cloud are three categories into which the global market is separated based on type. In 2021, the market was led by the public cloud sector. In a multi-tenant environment, public cloud blockchain shares computational resources with a number of other clients. Currently, numerous governmental organizations all around the world are fusing cloud technology with conventional methods. Public clouds are popular because they provide businesses with the ability to compete on price.

The market is segmented into apps and solutions, infrastructure and protocols, and middleware based on the components. In 2021, the market was largely dominated by the infrastructure and protocol segment. The rise of this market is being driven by an increase in demand for blockchain standards and protocols like Ethereum, open chain, and hyper leisure.

Report Scope

Platforms and Services, Applications, Middleware, Infrastructure, Type (Private, Public, and Hybrid), Organization Size, and Blockchain Technology 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 Insights:

• The blockchain technology market is anticipated to expand annually at a CAGR of almost 68% throughout the projected period, according to the data supplied by our research analyst (2022-2030).
• The blockchain technology market size was estimated to be worth roughly USD 4.8 billion in 2021 and is expected to increase to USD 69 billion by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
• According to type segmentation, the public cloud is expected to have the largest market share in 2021.
• The infrastructure and protocol sector was the top revenue-generating category in 2021, according to component segmentation.
• Geographically speaking, the ""North America"" region generated the most income in 2021.
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Recent Development

May 2021 - Circle Internet Financial Ltd., a developer of blockchain technology, declared in May 2021 that it had secured $ 440 million from institutional and strategic investors. These monies were used by the business to grow both internally and externally.

Regional Landscape

According to estimates, North America holds the largest market share in the blockchain technology industry. The region's market expansion is anticipated to be fueled by early blockchain adoption and the existence of numerous securities and blockchain technology solution providers. As a means of enabling data security, preventing cyber attacks and industrial espionage, ensuring data security and confidentiality, and promoting business continuity, businesses in the region are progressively implementing security and vulnerability management solutions. It is being used by me.

Competitive Landscape

These major competitors in the blockchain technology market, along with their business profiles, recent advancements, and important market strategies, are the subject of in-depth competition analysis in the study.

The global blockchain technology market is segmented as follows:

By Component

• Platform
• Services

By Provider

• Application
• Middleware
• Infrastructure
•  

By Organization

• Large Enterprises
• SME
•  

By Application

• Transportation and Logistics
• Agriculture and Food
• Energy and Utilities
• BFSI
• IT and Telecom
• Government
• Retail and Ecommerce
• Others
•  

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico
•  

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe
•  

Asia Pacific

• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Rest of Asia Pacific
•  

Latin America

• Brazil
• Rest of Latin America
•  

Middle East and Africa

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa