Blockchain Technologies Market Growth Trajectory Through 2024-2033|International Business Machines Corporation, Amazon.com Inc., Microsoft Corporation, Oracle Corporation, SAP SE

The Blockchain Technologies Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Blockchain Technologies Global Market Report 2024, The blockchain technologies market size has grown exponentially in recent years. It will grow from $17.21 billion in 2023 to $29.35 billion in 2024 at a compound annual growth rate (CAGR) of 70.6%. The growth in the historic period can be attributed to cryptocurrency adoption and transactions, supply chain transparency and traceability, smart contracts and automation, cross-border payments and remittances, digital identity and authentication.

The blockchain technologies market size is expected to see exponential growth in the next few years. It will grow to $161.14 billion in 2028 at a compound annual growth rate (CAGR) of 53.1%. The growth in the forecast period can be attributed to decentralized finance (defi) growth, non-fungible tokens (nfts) and digital assets, blockchain in healthcare for data security, environmental, social, and governance (esg) considerations, integration with internet of things (iot). Major trends in the forecast period include blockchain in supply chain, government and institutional adoption, layer 2 scaling solutions, cross-industry collaborations, tokenization of assets.

The favorable government initiatives towards blockchain is expected to drive the blockchain technologies market. Governments of both advanced and developing economies are focusing on framing policies and frameworks for adopting blockchain. For example, in January 2023, The Indian Government, through launched a blockchain module in collaboration with 5ire an India-based blockchain platform and Network Capital a India-based mentorship and career exploration platform aiming to foster innovation and entrepreneurship in India. Therefore, favorable government initiatives are expected to boost the demand for blockchain technologies in the forecast period.

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The blockchain technologies market covered in this report is segmented –

1) By Type: Public, Private, Hybrid
2) By Provider: Application Providers, Middleware Providers, Infrastructure Providers
3) By Application: Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, Governance, Risk And Compliance Management, Other Applications (Digital Voting And Content
Storage Management)
4) By End User: Financial Services, Consumer or Industrial Electronics, Technology, Media And Telecom, Healthcare, Transportation, Public Sector, Other End-Users

Blockchain is increasingly being implemented in many back-office processes at industries from traditional banking and insurance, extending its application to even food production and pharmaceutical industries. For instance, in June 2023, Fujitsu. a Japan-based multinational information and communications technology company, completed a successful year-long pilot project with the Asian Development Bank, a Philippines-based regional bank. The project aimed to enhance cross-border securities settlement in regions including ASEAN, Japan, China, and South Korea, showcasing the potential for streamlined and secure transaction processes. Fujitsu plans to introduce the “Fujitsu Web3 Acceleration Platform,” integrating “ConnectionChain” to enable secure connectivity across multiple economies and promoting the adoption of blockchain technology in various industries beyond finance, including distribution and manufacturing.

The blockchain technologies market report table of contents includes:

1. Executive Summary
2. Blockchain Technologies Market Characteristics
3. Blockchain Technologies Market Trends And Strategies
4. Blockchain Technologies Market – Macro Economic Scenario
5. Global Blockchain Technologies Market Size and Growth

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32. Global Blockchain Technologies Market Competitive Benchmarking
33. Global Blockchain Technologies Market Competitive Dashboard
34. Key Mergers And Acquisitions In Blockchain Technologies Market
35. Blockchain Technologies Market Future Outlook and Potential Analysis
36. Appendix

 

Top Major Players :

• International Business Machines Corporation
• com Inc.
• Microsoft Corporation
• Oracle Corporation
• SAP SE

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