openPR Logo
Press release

Blockchain Interoperability Market Size to Witness a Pronounce Growth by 2028

07-17-2023 10:40 AM CET | IT, New Media & Software

Press release from: MarketsandMarkets(TM)

Blockchain Interoperability Market Size

Blockchain Interoperability Market Size

According to a research report "Blockchain Interoperability Market by Solution (Cross-chain Bridging, Cross-chain APIs, Federated or Consortium Interoperability), Application (dApps, Digital Assets/NFTs, Cross-chain Trading & Exchange), Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, the global blockchain interoperability market size is projected to grow from USD 0.3 billion in 2023 to USD 1.0 billion by 2028 at a CAGR of 27.2% during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25113202

The growth of the blockchain interoperability market is driven by the demand for smooth communication and asset transfer among various blockchain networks, the increasing adoption of dApps, and the emergence of diverse blockchain ecosystems, creating a need for interoperability, enabling collaboration and access to a broader range of resources. Furthermore, regulatory compliance requirements and the desire for standardized frameworks contribute to the market's expansion.

Browse 205 market data Tables and 38 Figures spread through 251 Pages and in-depth TOC on "Blockchain Interoperability Market"

https://www.marketsandmarkets.com/Market-Reports/blockchain-interoperability-market-25113202.html

Based on the vertical segment, the healthcare vertical is to grow at the highest CAGR during the forecasted period.

The healthcare vertical experiences the highest CAGR in the blockchain interoperability market due to the need for efficient data exchange among multiple stakeholders, including hospitals, clinics, insurers, and patients. Blockchain interoperability ensures secure and standardized communication, addressing fragmented healthcare records and improving access to comprehensive patient information. With its robust security features, blockchain technology enhances data protection and compliance with regulatory guidelines. Furthermore, blockchain-enabled innovations in patient consent management, clinical trials, supply chain transparency, and fraud prevention contribute to the growth of blockchain interoperability in the healthcare industry.

By Application, dApps holds the largest market size during the forecast period.

Due to their increasing popularity and demand, dApps have a large market size in the blockchain interoperability market. As dApps become more widely used across various industries, the need for interoperability between different blockchain networks arises. Interoperability solutions allow dApps to communicate and interact with multiple blockchains, expanding their reach and usability. This cross-chain functionality enhances the user experience by enabling seamless asset transfers and data access. Moreover, the development of interoperability protocols further supports the growth of dApps in the blockchain interoperability market. Thus, dApps currently dominate the market in terms of market size among applications in the blockchain interoperability market.

Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=25113202

By region, the Asia Pacific market is to grow at the highest CAGR during the forecast period.

The Asia Pacific region demonstrates solid technological adoption, with countries like China, South Korea, Japan, and Singapore at the forefront of blockchain research and development. Additionally, government support is crucial, as policymakers have implemented favorable regulations and initiatives to encourage blockchain adoption. The presence of significant developments, such as the Interledger Protocol (ILP) and initiatives like the Asia Pacific Blockchain Alliance (APBA) and the ASEAN Blockchain Initiative, further promote blockchain interoperability. These efforts create an environment that fosters collaboration, innovation, and shared standards. As a result, the Asia Pacific region is positioned to leverage the benefits of blockchain interoperability, driving its remarkable growth in the market. Thus, Asia Pacific has the highest CAGR in the blockchain interoperability market.

Market Players:

Oracle (US), R3 (US), GAVS Technologies (US), LeewayHertz (US), Ontology (Singapore), Inery (Singapore), Fusion Foundation (Singapore), Quant Network (UK), Band Protocol (Thailand), LiquidApps (Israel), LI.FI (Germany), Biconomy (Singapore), Datachain (Japan), RioDeFi (China), Polyhedra Networks (Italy), SupraOracles (US), Orb Labs (US), and ChainPort (Israel) are the key players, and other players in the blockchain interoperability market.

Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/blockchain-interoperability-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/blockchain-interoperability.asp

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Blockchain Interoperability Market Size to Witness a Pronounce Growth by 2028 here

News-ID: 3132059 • Views:

More Releases from MarketsandMarkets(TM)

Disaster Recovery as a Service (DRaaS) Market Trends, Drivers, Strategies, Applications and Competitive Landscape 2028
Disaster Recovery as a Service (DRaaS) Market Trends, Drivers, Strategies, Appli …
According to a research report "Disaster Recovery as a Service (DRaaS) Market by Service Type (Backup & Restore, Real-Time Replication, Data Protection), Deployment Mode (Public Cloud, Private Cloud), Organization Size, Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, the DRaaS market size is expected to grow from USD 10.7 billion in 2023 to USD 26.5 billion by 2028 at a compound annual growth rate (CAGR) of 19.8%
Telecom Service Assurance Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2026
Telecom Service Assurance Market Growth, Opportunities Business Scenario, Share, …
According to a research report "Telecom Service Assurance Market Trends by Component (Solutions (Fault and Event Management, Performance Management, and Quality and Service Management) and Services), Operator Type, Deployment Type, Organization Size, and Region - Global Forecast to 2026" published by MarketsandMarkets, the global Telecom service assurance Market size to grow from USD 6.5 billion in 2021 to USD 10.4 billion by 2026, at a Compound Annual Growth Rate (CAGR)
Casino Management Systems Market predicted to obtain $13.7 billion by 2025
Casino Management Systems Market predicted to obtain $13.7 billion by 2025
According to a new market research report "Casino Management Systems Market by Component (Solutions and Services), Application (Accounting, Security and Surveillance, Player Tracking, Hotel and Hospitality, Analytics, and Digital Content Management), End User, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the market size projected to grow from USD 6.4 billion in 2020 to USD 13.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.4%
5G Core Market extrapolated to obtain $ 9,497 million by 2025
5G Core Market extrapolated to obtain $ 9,497 million by 2025
According to a new market research report "5G Core Market by Component (Solutions and Services), Network Function (Access and Mobility Management Function, Policy Control Function, Unified Data Management), Deployment Model (Cloud and On-premises), End User, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the 5G core market size projected to grow from USD 630 million in 2020 to USD 9,497 million by 2025, at a Compound Annual Growth

All 5 Releases


More Releases for Blockchain

Blockchain Security Market Set for Explosive Growth | DMG Blockchain Solutions, …
Global Blockchain Security Market Growth (Status and Outlook) 2021-2026 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Blockchain Security Market. Some of the key players profiled in the study are Oracle, IBM, Kaspersky, Gemalto,
Impact of Outbreak of Coronavirus (Covid-19) on Blockchain in IOT Market by 2027 …
The Blockchain in IOT market is expected to garner $6000 million and rise at a CAGR of 70% during the forecast period from 2019 to 2027. A new market report titled “Blockchain in IOT Market” has been added to the repository of Research N Reports. This report provides comprehensive assessment of the current trends, restrains and futuristic opportunities, which are anticipated to provide lucrative avenues for market proliferation. An in-depth description
Global Blockchain Masrket 2019-2025: Blockchain Inc., Amazon AWS, Abra (US), Del …
Recent Research and the Current Scenario as well as Future Market Potential of " Blockchain Market in Global Industry: Market Development, Analysis and Overview 2019 "globally. Global Blockchain Industry was valued at USD 357.8 Million in the year 2017. Global Blockchain Industry is further estimated to grow at a CAGR of 74.4% from 2019 to reach USD 30.74 Billion by the year 2025. North America region holds the highest Industry share
Oodles Blockchain Uses Top Blockchain Platforms To Expedite Blockchain Adoption
With an aim to leverage the blockchain technology to change the centralized system and make it decentralized, Oodles Blockchain has decided to use top blockchain platforms to develop consumer-based blockchain applications. Oodles Blockchain, a micro-website of Oodles Technologies, developed mainly to focus on blockchain technology, is delighted to announce that it will be expanding its horizon of blockchain development services by using a few latest open source blockchain platforms like
Global Blockchain Market Forecast to 2025 | Public Blockchain, Private Blockchai …
MarketResearchReports.Biz has recently announced the Latest industry research report on: “Global Blockchain Market Insights, Forecast to 2025 “. This report presents the worldwide Blockchain market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels,
Blockchain Market In United State: By Product Type - Public Blockchain, Private …
Researchmoz added Most up-to-date research on "Blockchain Market In United State: By Product Type - Public Blockchain, Private Blockchain & Consortium Blockchain" to its huge collection of research reports. In this report, the United States Blockchain market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report splits