Press release
Blockchain Technologies Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Blockchain Technologies Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
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
Major Driver - Government Support Propelling The Blockchain Technologies Market
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.
Competitive Landscape:
Major companies operating in the blockchain technologies market report are Microsoft Corporation, Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Infosys Limited, Coinbase Global Inc., Auxesis Group, Cegeka NV, Circle Internet Financial Limited, Celsius Network Ltd., Canaan Inc., BTL Group Ltd., Patron Technology Ltd., Riot Blockchain Inc., Ripple Labs Inc., R3 LLC, Bitfury Group Limited, Steemit Inc., Applied Blockchain Ltd., BlockCypher Inc., Blockpoint Inc., AlphaPoint Corp., Chain Inc., BigchainDB GmbH, TraDove Inc., Symbiont.io Inc., Blockchain Foundry Inc., Factom Inc., Menlo One Ltd., RecordsKeeper, Galaxy Digital Holdings Ltd., BlockFi Lending LLC, ConsenSys AG, MoonPay Limited, Lockheed Martin Corporation, Blockdaemon Corp.
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Top Trend - Blockchain Integration In Cross-Border Securities Settlement Fujitsu's Impact
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Blockchain Technologies Market Characteristics
3. Blockchain Technologies Market Trends And Strategies
4. Blockchain Technologies Market - Macro Economic Scenario
5. Blockchain Technologies Market Size And Growth
…..
27. Blockchain Technologies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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