The blockchain technology market is estimated to reach USD 137.8 billion by 2030 and register a CAGR of 67.5% from 2022-2030.

Market Research Future has published a Cooked Research Report on the Global Blockchain Technology Market.Market Research Future Highlights

The blockchain technology market is expected to register a CAGR of 67.5% and is estimated to reach 137.8 billion by 2030 during the forecast period of 2022-2030.

Blockchain technology is a digital ledger maintained on a computer network, protecting it against alterations or data hacking. It is a direct communication channel between two individuals and groups of individuals without any bank, government, or third party. The use of blockchain technology has widespread coverage but is not limited to retail, healthcare and banking, financial services, and insurance. The applications generated by the blockchain technology industry have gained momentum and popularity.

As per the blockchain technology market analysis, it can be used to screen and store public health information, secure medical supply chains, track donations, and manage crises. Because of these applications, with the help of blockchain technology, the markets are gaining momentum and recovering from the losses incurred during the pandemic. The increasing need for digital identity has expanded the blockchain technology market size. Governments have adapted to blockchain technology market demand-based identification platforms to enhance secure and transparent transactions in private and public sectors.

A few countries have also implemented blockchain technology for e-citizen programs since 2018. Implementation of blockchain technology in this field has helped digitalize public transactions using safe digital identities.

The increasing share of market-related cryptocurrencies has increased venture capital investments in blockchain technology. This is because cryptocurrencies have decentralized properties.

Market Segmentation

The blockchain technology market analysis shows that the market is segmented based on application, service provider, organization size, end-user, and region.

By Application

The market is sectioned on the types of applications as follows:

• Payment and Transaction


• Digital Identity


• Exchanges


• Smart Contract


• Documentation

By Service Provider

Depending on the use of blockchain technology, the following divisions are observed:

• Middleware provider


• Application provider


• Infrastructure provider


• Solution provider


• Protocol provider

By Organization Size

Considering the organization’s size, the market is segmented as follows:

• Small enterprises


• Medium enterprises


• Large enterprises

By End-User

The divisions based on end-users are

• Banking, financial services, & insurance


• Life sciences & health care


• Telecommunication & information technology


• Hospitality & travel


• Government


• Retail


• Construction & real estate

By Region

The region-wise division of the blockchain technology market is:

• North America


• Europe


• Asia-Pacific


• Rest of the World

Regional Analysis

The North American region dominated the blockchain technology market with USD 612.3 million in 2018. This is attributed to the fact that developed countries like the US and Canada have retail, banking, financial services, insurance, and government to detect digital identity, wallet and payment solutions, and smart contracts. 

Developing economies like China and India are the root cause of stimulating the regional growth of the blockchain industry in the Asia-Pacific region. Increased initiatives by research institutes and the government in advanced mathematics, integration of big data, and advancing blockchain technology have resulted in the growth of this sector.