Blockchain Technology Market Size Projected to Reach USD 1,879.30 Bn By 2034
According to Precedence Research, the global blockchain technology market size is calculated at USD 41.15 billion in 2025, and it is projected to reach approximately USD 1,879.30 billion by 2034, with an impressive CAGR of 52.90% from 2025 to 2034.
Ottawa, June 27, 2025 (GLOBE NEWSWIRE) -- The global blockchain technology market was valued at USD 26.91 billion in 2024 and is expected to grow from USD 41.15 billion in 2025 to approximately USD 1,879.30 billion by 2034. Over the forecast period of 2025-2034, the global market is projected to grow at a robust compound annual growth rate (CAGR) of 52.90%. The strong influence of blockchain on finance, healthcare, supply chain management, and government services raises its importance across the globe.
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Blockchain Technology Market Key Highlights:
- By region, the North America blockchain technology market accounted for the major revenue share of 46% in 2024.
- By region, Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
- By region, Europe is considered to be a notably growing area in the market in 2024.
- By type, the public cloud segment contributed the highest revenue share of 61% in 2024.
- By type, the private cloud segment is growing at the fastest CAGR from 2025 to 2034.
- By component, the infrastructure and protocols segment recorded the biggest revenue share of 63% in 2024.
- By component, the middleware segment is expected to grow at the fastest CAGR from 2025 to 2034.
- By application, the payments segment held the largest revenue share of 45% in 2024.
- By application, the digital identity segment is expected to grow at the fastest CAGR in the market during the predicted timeframe.
- By enterprise, the large enterprises segment accounted for the biggest revenue share of 68.5% in 2024.
- By enterprise, the small and medium enterprises segment is expanding at a notable CAGR from 2025 to 2034.
- By end use, the financial services segment held the major revenue share of 39% in 2024.
- By end use, the healthcare segment is expected to grow at the fastest CAGR between 2025 and 2034.
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Market Overview and Industry Potential
What is the Importance of Blockchain in Various Sectors?
The blockchain technology market has transformed data security into digital transactions. This innovative technology helps the government, corporates, and individuals to resolve the risks of fraud. It ensures the connection between previous transactions and each new transaction which remains encrypted and linked with each other. This forms the chain of blocks which is immutable and holds the integrity of the data. This invention is the foundation of diverse applications, including financial transactions and secured medical records, which create trust in digital interactions. It plays a vital role in healthcare in securing patient records, improving the exchange of medical information, ensuring data integrity, and enhancing patient privacy and security.
Also Read: How Digital Transformation Is Reshaping Global Industries – Key Insights from Precedence Research
Blockchain for Supply Chain Solutions by IBM, the Leading Market Player
| Sr. No. | Solutions | Features |
| 1) | IBM Supply Chain Intelligence Suite |
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| 2) | Order Management System |
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| 3) | Supply Chain Transparency |
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| 4) | Blockchain for Food |
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| 5) | Supplier Management |
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What are Major Trends in the Blockchain Technology Market?
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Government Measures and Technological Projects: The acceptance of blockchain by governments enhances public security and governance. The implementation of various national blockchain strategies enhances the transparency, efficiency, and security of government operations. There is an integration of blockchain by the public administration of India for local and state initiatives. These efforts enhance certificate issuance and data management.
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Great Adoption and Impact on Supply Chain Processes: This innovative technology transformed supply chains by addressing challenges with traceability. The leading companies like IBM and Maersk adopted it to streamline operations, ensure product reliability, and reduce paperwork. It allows the records and verification of every transaction, which enhances visibility and reduces the risk of fraud.
Also Read: How Blockchain is Supercharging the Internet of Things
Products of IBM Supply Chain Order Management System
| Sr. No. | Name of the Product | Features |
| 1) | IBM Sterling Order Management | To manage omnichannel order fulfilment from a single point |
| 2) | IBM Sterling Intelligent Promising | To gain instant visibility into inventory levels and deliver flexible purchasing options |
| 3) | IBM Sterling Configure, Price, and Quote | To streamline the buying process for complex products |
Growth Factors in the Blockchain Technology Market
- The growing maturity of technological adoption and the increased focus on sustainable and ethical applications drive the expansion of the blockchain technology market.
- Advancements in scalability and the growing integration with artificial intelligence support the growth.
- The expanded use of this invention in non-financial sectors witnesses significant growth.
- The introduction of national and global regulatory frameworks showcases the transformative potential of blockchain.
How can Artificial Intelligence Improve the Blockchain Technology Industry?
The fusion of blockchain and artificial intelligence (AI) can redefine various industries. Blockchain uses the analytical power and automation capabilities of AI to introduce enhanced data security, operational efficiency, and data privacy. These technologies enable automated, transparent, and secure transactions without the need for intermediaries. The AI algorithms can automate smart contracts and make them intelligent and adaptable to complex scenarios.
Also Read: How Artificial Intelligence Is Redefining Biotechnology Innovation
Opportunities in the Blockchain Technology Market
How is the Opportunistic Rise of the Distributed Ledger Technology?
- According to Deloitte research in March 2025, the projected global infrastructure operational cost savings are approximately USD 15-20 billion annually for the U.S., Europe, and other major markets. This data is projected by considering the integration of smart contracts and automated processes within clearing and settlement activities.
- In October 2024, the survey report for the 6th annual global crypto hedge fund for the year 2024 stated that about 47% of its funds had exposure to digital assets, which are increased from 29% in 2023.
- In October 2024, VanEck Ventures announced the launch of a $30 million fund to support innovations in Fintech, AI, and Crypto.
Also Read: Blockchain Beyond the Hype: Powering the Future of Cryptocurrency
Limitations and Challenges in the Blockchain Technology Market
What are the Vast Challenges associated with Technological Solutions?
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Scalability and Interoperability: The technological solutions are aiming to expand the capabilities of technologies to handle large volumes of transactions. They also aim to allow seamless interaction between different blockchain systems.
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Technological Complexity: The key challenges such as scalability issues, regulatory uncertainty, and the need for standardization hinder the adoption of blockchain in supply chains.
Blockchain Technology Market Report Coverage and Key Metrics
| Report Attribute | Key Statistics | |
| Market Size (2024) | USD 26.91 Billion | |
| Market Size (2025) | USD 41.15 Billion | |
| Market Forecast (2034) | USD 1,879.30 Billion | |
| CAGR (2025–2034) | 52.90% | |
| Base Year | 2024 | |
| Forecast Year | 2025-2034 | |
| Growth Drivers | - Increased venture capital investments - Adoption in financial services - Utilization of smart contracts and digital identities - Government initiatives supporting blockchain integration |
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| Challenges | Regulatory uncertainty hindering adoption across sectors | |
| Segments Covered | Type, Component, Application, Enterprise, End-Use, and Region | |
| By Type (2024) | Public Cloud: 61% Revenue Share | |
| By Component (2024) | Infrastructure & Protocols: 63% Revenue Share | |
| By Application (2024) | Payments: 45% Revenue Share | |
| By Enterprise Size (2024) | Large Enterprises: 68.5% Revenue Share | |
| By End-Use (2024) | Financial Services: 39% Revenue Share | |
| Regions Covered | Asia Pacific, North America, Europe, Latin America, Middle East and Africa | |
| North America Market Share (2024) | 46% | |
| U.S. Market Size (2024) | USD 8.70 Billion | |
| U.S. Market Size by 2034 | USD 619.28 Billion | |
| U.S. CAGR (2025–2034) | 53.19% | |
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How Did North America Dominate the Blockchain Technology Market in 2024?
North America dominated the blockchain technology market in 2024. The North American governments and public sectors have adopted blockchain technology due to the emerging needs for building trust among the citizens, protecting the data, and reducing corruption.This modern technological integration introduced lower prices and improved efficiency in verifying transactions within minutes. It has enormous potential to reduce financial infrastructure costs by $20 billion. There are various applications of this technology in the government sector and public services, which include smart cities, educational reforms, payroll tax, central banking, tracking, digital identity, and procurement.
How is Blockchain Technology Utilized to Transform North American and U.S. Public Services?
The U.S. has taken sponsored initiatives to transform the country using blockchain that have immense potential to streamline government processes. There is an extensive utilization of blockchain by accounting firms in the U.S. to manage extensive tax collections.
According to the U.S. Department of Homeland Security, blockchain introduced enhanced transparency and auditing of public service operations. It has also presented greater supply chain visibility and automation to improve the delivery of products and services.
- In January 2025, the Department of Government Efficiency of Elon Musk announced exploring initiatives towards the use of the blockchain invention to enhance U.S. federal operations like data tracking, spending, and data security and storage.
What is the size of the U.S. Blockchain Technology Market?
According to Precedence Research, the U.S. blockchain technology market size is predicted to surpass USD 619.28 billion by 2034 up from USD 13.33 billion in 2025 and is poise to grow at a solid CAGR of 53.19% from 2024 to 2034.
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How Asia Pacific is Rapidly Growing with Massive Technological Advancements?
Asia Pacific is expected to grow at the fastest CAGR in the blockchain technology market during the forecast period. The innovative solutions across this region are emerging through various technologies like blockchain, Internet of Things (IoT), artificial intelligence, cloud data architecture, and geospatial technologies.
The digital transformation and climate change are reshaping the Asian Pacific economies and societies. These digital technologies are strong pillars of climate action which also drive economic growth in this region. They allow practical policies and strategies to come to the forefront of society. The digital advanced and high-income countries are experiencing remarkable growth.
Also Read:
What made Singapore and the Republic of Korea the Most Digitally Advanced Countries?
According to the Economic and Social Commission for Asia and the Pacific (ESCAP) index, the most digitally strengthened countries are Singapore, Nordic countries, and the Republic of Korea. These countries have been able to achieve their economic growth while reducing carbon emissions per capita and having a strong adaptive capacity. With the rise in GDP, there has been a significant reduction in greenhouse gas emissions per capita. The rapid industrialization and urbanization drive the need to establish extensive infrastructure.
- In June 2025, Blockchain Alliance International (BAI) announced the launch of the Asia-Pacific Digital Economy Initiative in Hong Kong.
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What made European Markets the Leading Innovators of Modernization?
Europe is seen to grow at a notable rate in the blockchain technology market in 2024. According to the European Commission, the European Union wishes to become a leader and a major innovator in blockchain or web3 technology.
The European values and regulations for this invention are enhanced trust services, environmental sustainability, data protection, digital identity, cybersecurity, and interoperability. The European public sector is dedicated to establishing its own pan-European blockchain infrastructure with the help of European Blockchain Services Infrastructure.
How does France Lead as the Pioneer in Adopting Blockchain for Legal Purposes?
France collaborates with other European leading countries, like Germany, the United Kingdom, Sweden, and Estonia, to adopt this innovative solution. Estonia adopted blockchain to secure national data, smart devices, and e-services across the public and private sectors. The various sectors, including healthcare, business, succession registries, property, etc. encompass these vast systems.
The German Federal Government focuses on using these services and applications to provide secured data to courts or official verification bodies. Sweden conducted a trial of a land registration system that uses blockchain through its land ownership authority.
- In July 2024, Ferrari announced the extension of cryptocurrency payment system to Europe after its launch in the U.S.
Blockchain Technology Market Segmentation Analysis
By Type Analysis
How Public Cloud Segment Dominated the Blockchain Technology Market in 2024?
The public cloud segment dominated the blockchain technology market in 2024. The public cloud systems offer cost optimization, quick and easy set-up, and cloud scaling. Public cloud computing holds immense potential to turn global in minutes, achieve success through business innovations, and deliver improved security. They can optimize the budget of IT staff, offer shorter project delivery times, achieve high stability, and maximize uptime and zero risk failure.
The private cloud segment is expected to grow at the fastest CAGR in the blockchain technology market during the forecast period. The principal types of private clouds, such as on-premises private cloud, virtual private cloud, hosted private cloud, and managed private cloud, are ideal because all resources are isolated and operated exclusively for one organization. Private cloud computing offers on-demand access to computing resources such as data storage, cloud servers, automation, software, networking capabilities, and data analytic tools.
Also Read: High-Performance Computing-as-a-Service: Fueling AI, Big Data, and Beyond
By Component Analysis
What made Infrastructure and Protocols the Dominant Segment in the Blockchain Technology Market in 2024?
The infrastructure and protocols segment dominated the blockchain technology market in 2024. The blockchain protocols offer a set of rules regarding data records, data storage, and data security within a blockchain network. These protocols represent the foundation of network operations for which developers need a suitable platform. The blockchain protocols offer an essential infrastructure and services to create and run applications within the blockchain ecosystem.
The middleware segment is expected to grow at the fastest CAGR in the blockchain technology market during the predicted timeframe. Middleware is a transformative solution to fill the gaps between tools, applications, and databases that will deliver high-quality services to users. It can enhance the supply chain technology stacks by focusing on communication and data integration. Middleware platforms can enhance secure and efficient communication between different members in the supply chain network.
Also Read: Supply Chain Gets Smarter: How Analytics Is Powering Global Logistics
By Application Analysis
How did the Payments Segment Dominate the Blockchain Technology Market in 2024?
The payments segment dominated the blockchain technology market in 2024. The advantages of blockchain in payments include automation with smart contracts, elimination of intermediaries, safe and quick border payments, and transparency. Blockchain payment systems can settle transactions easily and can maintain the reliability of transactions. The transactions made via a blockchain network are immutable, stored in blockchain, and visible to everyone.
The digital identity segment is expected to grow at the fastest CAGR in the blockchain technology market during the forecast period. There are wide advantages of digital identity for companies, IoT devices, and individuals where blockchain identity management systems can be used to resolve complex issues regarding inaccessibility, data insecurity, and fraudulent identities. The various components like decentralized identifiers, identity management, and embedded encryption allow blockchain technology to help users create and manage digital identities.
Also Read: How Digital Payments Are Reshaping Global Commerce
By Enterprise Analysis
How Large Enterprises Segment Dominated the Blockchain Technology Market in 2024?
The large enterprise segment dominated the blockchain technology market in 2024. Large enterprises enable users to experience streamlined cross-border payments and improved supply chain management. They offer enhanced security and privacy along with increased transparency and accountability. There is a great positive impact of adopting large-scale enterprises of blockchain technology.
The small and medium enterprise segment is expected to grow at the fastest CAGR in the blockchain technology market during the predicted timeframe. The blockchain technology is revolutionizing small and medium enterprises by enhancing transparency and security. The SMEs are experiencing smart contracts, streamlined loan applications, and approval processes. They are enabled for efficient loan disbursement and repayment through the integration of blockchain services and solutions.
By End Use Analysis
What made Financial Services the Dominant Segment in the Blockchain Technology Market in 2024?
The financial services segment dominated the blockchain technology market in 2024. The integration of blockchain in finances introduces transparency, trust, privacy, high-performance, scalability, and programmability. The digitization of financial services presents streamlined processes, economic benefits, and authenticity. Many use cases of blockchain in financial services include capital markets, lending, banking, asset management, payments, trade and finance, and insurance.
The healthcare segment is expected to grow at the fastest CAGR in the blockchain technology market during the forecast period. The major blockchain use cases in digital healthcare include supply chain transparency, patient-centric electronic health records, smart contracts for insurance, medical staff credential verification, and IoT security for remote monitoring. These capabilities deliver several benefits, such as cost efficiency, security, traceability, and business process speed. The blockchain helps digital health companies with ensuring the security of remote monitoring devices.
Related Topics You May Find Useful:
- The global FinTech blockchain market size was calculated at USD 0.48 trillion in 2024 and is predicted to hit around USD 21.59 trillion by 2034, expanding at a notable CAGR of 46.31% from 2025 to 2034.
- The global blockchain in energy market size is calculated at USD 2.07 billion in 2024 and is projected to surpass around USD 636.87 billion by 2034, growing at a CAGR of 77.34% from 2024 to 2034.
- The global blockchain AI market size was USD 445.41 million in 2023, calculated at USD 550.70 million in 2024 and is expected to reach around USD 3,718.34 million by 2033. The market is expanding at a solid CAGR of 23.64% over the forecast period 2024 to 2033.
- The global blockchain in healthcare market size was accounted for USD 9.56 billion in 2024 and is anticipated to reach around USD 193.43 billion by 2034, growing at a CAGR of 35.08% from 2025 to 2034.
- The global AI in supply chain market size accounted for USD 7.15 billion in 2024 and is predicted to increase from USD 9.94 billion in 2025 to approximately USD 192.51 billion by 2034, expanding at a CAGR of 39.00% from 2025 to 2034.
Competitive Landscape in the Blockchain Technology Market
- Coinbase: Coinbase Global, Inc. is leading in the American cryptocurrency exchange and is the biggest bitcoin custodian in the world.
- Binance: Binance Holdings Ltd. is the prominent cryptocurrency exchange company and is well-renowned developer of high-frequency trading software.
- Ripple: It empowers financial institutions through its payments, custody, and stablecoin solutions for the integration of blockchain and digital assets into their businesses.
- MARA Holdings and Riot Platforms: These companies collaboratively implement sustainable practices in bitcoin mining.
- Bybit and Upbit: They represent dynamics in their deposit methods, supported cryptos, fees, user scores, trading types, and several other features.
- IBM: The American multinational technology company is leading from next-generation artificial intelligence (AI) to cutting-edge hybrid cloud solutions.
- R3: It is enabling trusted digital economy through digitization of financial services.
- Core Scientific: It delivers high-density computing solutions through a vast data expertise.
- Block: The American technology company and the leading player in the U.S. market in point-of-sale systems.
- Chainlink Labs: It is leading with a deep expertise in cryptography and decentralized systems.
- Hiro Systems: It is renowned to accelerate the development of bitcoin applications through Hiro platforms.
- Chainalysis: The American blockchain analysis firm, driving actionable results in bitcoin tracing and crypto challenges.
- Coinme: It provides a secure online platform to buy and sell crypto or bitcoin instantly by using debit or cash.
- Robinhood: The American financial services company dedicated towards advanced trading tools and commission-free investments.
What is Going Around the Globe?
- In September 2024, the Government of India announced the launch of Vishvasya-Blockchain Technology Stack to provide Blockchain-as-a-Service with a greatly expanded infrastructure in one of the programmes held at the Ministry of Electronics and Information Technology (MeitY). This launch will support various blockchain-based applications.
Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2051934
- In December 2024, Nazara Technologies Ltd reported the signing of a letter of intent (LoI) with Lysto to boost the development of a Growth Protocol, a blockchain-based infrastructure, especially designed for digital marketing and growth applications.
The Blockchain Technology Market report is categorizes into the following segments and subsegments:
By Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Component
- Application & Solution
- Middleware
- Infrastructure & Protocols
By Application
- Digital Identity
- Payments
- Exchanges
- Supply Chain Management
- Smart Contracts
- Others
By Enterprise
- Large Enterprises
- Small & Medium Enterprises
By End-Use
- Financial Services
- Healthcare
- Government
- Media & Entertainment
- Transportation & Logistics
- Retail
- Travel
- Others
By Region
North America
- U.S.
- Canada
- Mexico
Asia Pacific
- China
- Singapore
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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