Blockchain Technology Market Size - By Component, By Technology, By Organization Size, By Application, By End Use, Growth Forecast, 2025 – 2034

Blockchain Technology Market Size

The global blockchain technology market was valued at USD 18.3 billion in 2024 and is estimated to register a CAGR of 53.6% between 2025 and 2034. The marketplace is experiencing considerable expansion due to the increasing utilization of decentralized services as well as the development of public blockchain technologies such as public Ethereum and Bitcoin more broadly. For example, Statista indicates that the size of Bitcoin blockchain exceeded 5,450 gigabytes in 2024, increasing at a remarkable pace of more than 1 gigabyte every few days. This shows the increasing prominence of blockchain as a tool for fast and reliable recording of transactions.
 

Enterprises are adopting blockchain ecosystems to improve efficiency, security, and transparency of all data. For instance, in January 2023, OneSpan Inc. completed thanks to the acquisition of the Australian company ProvenDB, specializing in secure document storage using blockchain technology. This alteration extends the capabilities of OneSpan's platform for the management of business processes and contracts in the Web3 environment by combining features of a public blockchain with OneSpan's platform.
 

Moreover, the growth of crypto trading platforms is one of the key factors propelling the growth of the blockchain technology market since these platforms promote the purchase, sale, or exchange of cryptocurrencies. Such platforms are increasingly in demand as the popularity of digital currencies rises, as there are more and more investors and traders looking for quick and safe ways to transact in crypto. The overall trading experience is improved with the availability of features such as market insights, algorithm-based trading options, and mobile applications. The market for crypto trading platforms is expected to expand by more than 12% each year and reach roughly USD 84 billion in revenue by 2034.
 

Blockchain Technology Market Trends

• Blockchain technology is improving the way businesses and other organizations operate by removing significant weaknesses, enhancing transparency, and enforcing security. The supply chain management industry has positioned itself in the forefront of adopting the blockchain technology by leveraging its potential to improve the ability to track transactions, mitigate fraud as well as enhance business functions. For example, during February 2024, Walmart stated that its crypto integration facilitated over 200 million transactions valued at USD 2 billion in 2023.
   
• Blockchain technology has so much potential in emerging economies of Asia and Africa. There is a significant push made in these countries to use this technology for issuing a digital identity, managing land registries and for overall economic growth. For example, Reserve Bank of India in January 2023 initiated pilot projects on Central Bank Digital Currencies (CBDC) with the intention to integrate the financial system with blockchain.
   
• Furthermore, there are certain challenges in the blockchain technology market, and these include scalability and interoperability. With Ethereum for instance, scalability has been an issue such that sometimes when activity is too much in the system, congestion occurs making the services slower and more expensive. Also, there are still some key technical aspects blocking progress in the market growth space for instance cooperation between private and public blockchain networks.
   

Blockchain Technology Market Analysis

Based on component, the blockchain technology market is divided into platform and service. In 2024, the platform segment was valued at over USD 11 billion.
 

• The Platform segment also remains an important part of DApps development and enables transaction security. There are a number of platforms including Hyperledger Fabric and Ethereum that are specifically suited for large business and GIG projects because they offer permissioned and programmable smart networks respectively.
   
• There are several sectors where such platforms are crucial like finance and logistics where security and speed are essential. For example, just Ethereum alone managed over 1.5 million transactions each day which shows the role it plays in Decentralized Finance, NFTs and many other industries back in 2024.
   
• However, the services segment is expanding at a high rate which is because of the increasing demand for consulting, implementation and managed services. Organizations are now starting to integrate their older systems with the help of service providers who ensure all regulatory requirements are met and the network optimization is accurate. A good example is the Deloitte blockchain services which help different industries start building their own blockchain ecosystems.
   

Based on technology, the blockchain technology market is categorized into public blockchain, private blockchain, and hybrid blockchain. The public blockchain segment is anticipated to register a CAGR of over 50% from 2025 to 2034.  
 

• Trust and transparency can be made possible due to cryptocurrencies, and that is the main reason why public blockchains are becoming so popular especially for open-access applications. Bitcoin on the other hand is a good example of a public blockchain as it allows direct person to person payments with no third parties involved completely.
   
• The rise of private blockchains, businesses looking for secure, permissioned networks are on the rise as well. A good example is R3 Corda, which offers financial institutions optimized solutions to exchange data safely while providing smoother workflows. These systems are particularly becoming more sought out in the healthcare and real estate industries.
   
• The Hybrid blockchain allows enterprises to select when to share information while retaining the ability to interact with outside parties. This combination of public and private blockchain systems helps address the concerns of data privacy and transparency.
   

Based on organization size, the blockchain technology market is segmented into SME and large enterprises. Large enterprises segment dominated the market and accounted for over USD 12 billion in 2024.
 

• Due to their capacity to help create custom applications, large enterprises are increasingly embracing blockchain technology. More and more businesses operating in finance, logistics, and manufacturing are implementing blockchain in order to improve security, cut down operational costs, and streamline processes.
   
• Blockchain provides low-cost, borderless solutions for tracking supply chains and conducting monetary transactions. Profoundly, this technology helps provide SMEs with the ability to compete in wider competing recession frameworks while addressing the areas of trust, cost-efficiency, and transparency.
   

Based on application, the blockchain technology market is segmented into payment, supply chain management, smart contacts, identity management, governance, risk, & compliance management, and others. The payment segment held a market share of around 45% in 2024.
 

• Blockchain technology eliminates the middlemen involved with each transaction and as a result, these technologies have the potential to address payment problems. It is also true that these technologies, which are being adopted by a number of financial institutions worldwide, are not the only components that aid in facilitating better cross-border payments rather being a viable alternative.
   
• Another area where blockchain can make a difference is in supply chains; once adopted, these systems can improve efficiency and openness. Real-time access to authentic products is made possible by this technology, which lowers the risk of fraud.
   
• Smart contracts are revolutionizing the way contracts are entered into, modifying different procedures rendering them self-interactive thus eliminating any need to manually other procedures. Industries such as real estate and insurance are adopting smart contracts to improve the effectiveness of transactions and shorten transaction duration.
   
• Combining personal identity with blockchain technology enables secure storage and tamper-resistant platforms for the management of personal data. Blockchain technology is being incorporated by the governments and corporations for improved levels of privacy and faster validation of various activities.
   

North America dominated the global blockchain technology market with a major share of over 35% in 2024 and U.S. leads the market in region.
 

• U.S. remains the front-runner with regards to blockchain technology as it is one of the most respectable industrial countries in terms of financial services. Financial services firms such as JP Morgan and Bank of America use blockchain for cross-border payments, contracting and secure share. In November of 2024, Mastercard’s Multi-Token Network (MTN) joined together with Kinexys Digital Payments by J.P Morgan to facilitate the dispersal of cross border B2B payments through the use of blockchain technology. The collaboration enables almost instant value exchange by cutting across time zones and other factors that would slow down the settlement process.
   
• Walmart and Amazon are combining their efforts with blockchain technology to improve item traceability in the retail and supply chain industries as well as logistics. The systems allow for better protection and compliance by providing rapid tracking of the affected products.
   

The blockchain technology market in Germany is expected to experience significant and promising growth from 2025 to 2034.
 

• U.S. remains the front-runner with regards to blockchain technology as it is one of the most respectable industrial countries in terms of financial services. Financial services firms such as JP Morgan and Bank of America use blockchain for cross-border payments, contracting and secure share. In November of 2024, Mastercard’s Multi-Token Network (MTN) joined together with Kinexys Digital Payments by J.P Morgan to facilitate the dispersal of cross border B2B payments through the use of blockchain technology. The collaboration enables almost instant value exchange by cutting across time zones and other factors that would slow down the settlement process.
   
• Walmart and Amazon are combining their efforts with blockchain technology to improve item traceability in the retail and supply chain industries as well as logistics. The systems allow for better protection and compliance by providing rapid tracking of the affected products.
   

The blockchain technology market in the China is anticipated to witness lucrative growth between 2025 and 2034.
 

• In China, initiatives such as BSN are geared towards making it easier for developers and firms to adopt the blockchain technology. Such efforts will benefit the logistics, finance and the e-commerce markets.
   
• In the retail sector, behemoths like Alibaba and JD.com have integrated blockchain with the aim of safeguarding their products and their supply chain, algorithms which are in line with the international regulations and build a positive consumer confidence.
   

The blockchain technology market in Brazil is expected to experience significant and promising growth from 2025 to 2034.
 

• In Brazil, governance has seen a nascent improvement in transparency and accountability due to the use of blockchain with tangible results in the general elections and public procurement governance. In a bid to gain greater security and trust in democratic institutions, the use of a blockchain voting has been pioneered.
   
• In Brazilian agriculture, the use of blockchain technology for product traceability has gained traction and that is instrumental to achieve the internationally accepted standards to be competitive in the international arena. In Brazil, the innovative blockchain technology brings new opportunities for farmers and agricultural producers, using it to check the products in every step of the supply chain from the place of growth to the consumer’s plate. This technology grants stakeholders opportunities to control crucial information as the date and method of harvest, the method of processing, and the transport conditions that can be provided to consumers and controlling agencies.
   

Blockchain Technology Market Share

IBM, Microsoft, and Amazon Web Services (AWS) collectively hold a significant market share of over 18% in blockchain technology industry.
 

• ICBM and Azure platform are at the forefront of decentralized networks development, while IBM is the leader in enterprise blockchain development with its solutions like the IBM Food Trust and supply chain blockchain services that help different organizations with their traceability needs and increasing their efficiency. 'Initial consideration into the workbench completely eliminate development hours of decentralized applications'.
   
• Furthermore, Oracle has placed emphasis on combining public blockchain and private systems to make cross-industry activities more efficient using the Oracle Blockchain Platform, which they allow as a hybrid blockchain application.
   
• As a part of the global movement, Ripple additionally strives to progress with the domestic remittance infrastructure, remaining a leader in the sphere of blockchain based payment systems. Ripple collaborates with building companies through RippleNet and employs them with financial institutions such as Santander Bank, to deal with the high charges associated with cross-border transactions.
   

Blockchain Technology Market Companies

Major players operating in the blockchain technology industry include:

• Amazon Web Services (AWS)
• Binance
• Bitfury
• Coinbase
• ConsenSys
• IBM
• Microsoft
• Oracle
• Ripple
• VeChain
   

The international and regional providers in the block-chain technology market have found a cutting-edge market pattern which enables them to comprehensively serve clients from businesses like finance, healthcare, supply chain, and government. Their business model allows them to remain competitive as they offer a wide range of blockchain solutions. On the other hand, the international competitors remain dominant in the industry as they acquire other companies and grow their solution portfolios to maintain an enterprise level presence. These companies have remained competitive internationally as well by integrating AI into their business models.
 

There is a limitation, however only small segments remain unaddressed and served by regional vendors across the globe. Regional players rely on their understanding of the local ecosystems to be competitive as they seek to satisfy particular regulations and business needs. But the tension of operating without innovation or partnership increases with the demand for blockchain networks. Wireless solutions, smart integration, and scalability have become the new norm, but regional players still seek international relations. There has been consolidation within the industry, but there is massive potential for more with the increased competition. The new mergers and acquisitions have increased technological understanding and there is the possibility of further evolution of the industry.
 

Blockchain Technology Industry News

• In December 2024, Exxe Group, a technology firm, declared the acquisition of Chain Adoption. This acquisition represents yet another breakthrough for Exxe Group in its drive to transform industries using blockchain technology. The company intends to provide a Blockchain Solutions Suite on top of its existing SaaS extensions for products and services so that it can improve its Blockchain services.
   
• In December 2024, Dynamite Blockchain revealed a securities exchange agreement for a full takeover bid of Kaspa Mining Limited’s shares. Dynamite Blockchain’s Kaspa-related strength is anticipated to be enhanced as a result of this strategic initiative. Currently, Kaspa Mining utilizes 25 Bitmain KS5 Pro Kaspa miners and the company’s acquisition aim is to broaden its reach within the Kaspa ecosystem and networks.
   
• In October 2024, T-Hub and XDC Network, which is an enterprise-grade blockchain platform, announced a strategic partnership. With respect to this partnership, the goal is to help Indian Web3 Startups with immense potential, by providing them access to the latest blockchain technologies, resources and tools. T-Hub and XDC Network will together foster the establishment of an incubation initiative that enables access to XDC’s hybrid blockchain platform, specialized consultancy, financial support and global reach.
   

The blockchain technology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) from 2021 to 2034, for the following segments:

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Market, By Component

• Platform
  • Blockchain-as-a-Service (BaaS)
  • Smart contract platform
  • Blockchain development platform
  • Others
• Service
  • Consulting & integration service
  • Maintenance and support service
  • Training & education service

Market, By Technology

• Public blockchain
• Private blockchain
• Hybrid blockchain

Market, By Organization Size

• SME
• Large enterprises

Market, By Application

• Payments
• Supply chain management
• Smart contracts
• Identity management
• Governance, risk, and compliance management
• Others

Market, By End Use

• BFSI
• IT & telecommunications
• Healthcare
• Retail & e-commerce
• Government
• Energy & utilities
• Media & entertainment
• Transportation & logistics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia