Blockchain Technology Market Size, Share, Trends & Competitive Analysis By Type (Public Blockchains, Private Blockchains, Consortium Blockchains) By Application; By Industry Vertical; By Regions, and Industry Forecast, Global Report 2023-2030

  • Report ID: FDS421
  • Forecast Period: 2023-2030
  • No. of Pages: 150+
  • Industry: Advanced Technology

The global Blockchain Technology Market size was valued at USD 12.49 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 58.8% during the forecast period, reaching a value of USD 469.78 billion by 2030.

Blockchain Technology Market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.


Blockchain technology is a decentralized and secure digital ledger system that enables the transparent and immutable recording of transactions across a network of computers. It operates on a distributed ledger, where each block contains a batch of transactions and is linked to the previous one, forming a chain. What makes blockchain unique is its ability to eliminate the need for intermediaries like banks by ensuring trust and consensus among participants through cryptographic validation. This technology has gained prominence beyond cryptocurrencies, finding applications in supply chain management, smart contracts, and various industries, promising increased efficiency, transparency, and security in a wide array of transactions and data management processes.

Blockchain technology's underlying principles, including decentralization, cryptographic security, and transparency, have the potential to revolutionize various sectors. It provides a tamper-resistant and decentralized ledger, reducing the risk of fraud and errors while increasing accountability and trust among participants. As blockchain continues to evolve and find new use cases, it offers a promising foundation for innovative solutions across industries, ranging from financial services to healthcare and beyond, with the potential to reshape how data and transactions are managed and verified in the digital age.


The Blockchain Technology market is influenced by a multitude of factors, including both drivers and restraints. On the driver's side, the increasing demand for secure and transparent transaction mechanisms is a key catalyst. Blockchain's ability to provide immutable and decentralized ledgers resonates with industries seeking enhanced data integrity and trust. Furthermore, the rising adoption of cryptocurrencies, coupled with the potential for blockchain to streamline supply chain management and optimize various business processes, drives its market growth. Additionally, governments and regulatory bodies recognizing the importance of blockchain technology are providing a conducive environment for its expansion through favorable regulations.

However, the market also faces certain challenges and restraints. Scalability remains a persistent issue, limiting the blockchain's ability to handle large volumes of transactions quickly and efficiently. Security concerns, particularly related to smart contracts and private data, are areas that require continuous improvement. Moreover, regulatory uncertainties in different regions can create obstacles for blockchain adoption. Despite these challenges, numerous opportunities emerge in areas like decentralized finance (DeFi), non-fungible tokens (NFTs), and emerging technologies such as blockchain-based identity verification. As the technology continues to mature, market players are poised to explore innovative solutions that can harness its potential while addressing these limitations.



Public blockchains are a prominent segment of the market, known for their open and decentralized nature. They offer a high level of transparency and security, making them suitable for cryptocurrencies like Bitcoin and Ethereum. The increasing popularity of digital currencies, driven by factors such as financial inclusion and the desire for decentralized assets, fuels the growth of this segment. Additionally, the development of decentralized applications (dApps) on public blockchains has garnered significant attention, opening up new avenues for innovation and investment.

Private blockchains are gaining traction, particularly in corporate and enterprise settings. These networks are known for their restricted access, providing enhanced privacy and control over data. Industries such as supply chain management and healthcare are leveraging private blockchains to enhance transparency and streamline processes. The dominant factor here is the need for secure, permissioned, and efficient data sharing within closed ecosystems. As companies recognize the benefits of blockchain while maintaining control over their networks, the private blockchain market is expected to grow steadily.

Consortium blockchains strike a balance between public and private blockchains. These networks are governed by a group of trusted entities, making them suitable for collaborative efforts among organizations, especially in sectors where cooperation and data sharing are essential. The dominant factor driving consortium blockchains is the need for shared infrastructure and data exchange while maintaining a degree of decentralization and trust among participants. Use cases like supply chain logistics and industry-specific consortia benefit from the transparency and security provided by these blockchains.


Cryptocurrencies remain a driving force in the blockchain technology market. Bitcoin, Ethereum, and other digital currencies have revolutionized the financial landscape, offering secure and decentralized alternatives to traditional currencies and banking systems. The dominant factor here is the increasing adoption of cryptocurrencies as both investment assets and mediums of exchange. This has led to a surge in demand for blockchain infrastructure to support these digital currencies, creating a vibrant ecosystem of exchanges, wallets, and mining operations.

Blockchain's application in supply chain management has gained prominence due to its ability to enhance transparency and traceability across the supply chain. The dominant factor in this segment is the growing need for improved accountability, reduced counterfeiting, and streamlined logistics. Companies across industries are leveraging blockchain to monitor the movement of goods, verify product authenticity, and optimize inventory management, ultimately leading to cost savings and improved consumer trust. Smart contracts are programmable self-executing agreements that automate processes when predefined conditions are met. Their adoption is driven by the need for efficiency and trust in various sectors, including legal, real estate, and insurance. The dominant factor here is the potential for cost reduction and risk mitigation by eliminating intermediaries and ensuring transparent execution of contracts. As businesses recognize the advantages of smart contracts in reducing fraud and ensuring compliance, this application continues to grow in importance within the blockchain technology market.

Blockchain's application in healthcare addresses critical challenges such as data security and interoperability. The dominant factor in this sector is the need for secure and interoperable health data management. Blockchain facilitates the secure sharing of patient records among healthcare providers, ensuring data integrity and patient privacy. This technology is particularly valuable in addressing issues related to patient identity verification, clinical trials, and the secure exchange of medical records. Blockchain's role in identity verification is pivotal in addressing issues related to identity theft and fraud. The dominant factor here is the increasing demand for secure and user-controlled identity solutions. Blockchain enables individuals to have ownership and control over their digital identities, allowing for secure and efficient verification processes in various online transactions, from accessing financial services to signing up for digital platforms.


The finance and banking sector has been a pioneer in blockchain adoption, driven by the need for more secure and efficient financial transactions. The dominant factor in this vertical is the push for faster and cost-effective cross-border payments using blockchain technology. Financial institutions are leveraging blockchain to reduce settlement times, lower transaction costs, and enhance transparency. Additionally, the growth of decentralized finance (DeFi) platforms and cryptocurrency exchanges within this sector underscores the blockchain's transformative potential in reshaping traditional banking services. In healthcare, the dominant factor is the urgent need for secure and interoperable data management. Blockchain offers a robust solution for safeguarding patient records, ensuring data integrity, and enabling seamless sharing of medical information among healthcare providers. The ability to streamline administrative processes, such as insurance claims and clinical trials, also contributes to the adoption of blockchain technology within the healthcare industry.

Supply chain management is marked by a dominant factor - the quest for transparency and traceability. Companies in this vertical are using blockchain to track the movement of goods from manufacturer to consumer. This enhances accountability, reduces fraud, and minimizes the risk of counterfeit products entering the market. Blockchain's ability to provide real-time visibility into the supply chain is particularly valuable in sectors where provenance and quality control are critical, such as food and pharmaceuticals. Governments are increasingly recognizing the potential of blockchain to enhance public services and governance. The dominant factor here is the drive for increased transparency, reduced corruption, and improved service delivery. Blockchain applications in this sector include secure voting systems, land registry management, and the tracking of government expenditures. These initiatives aim to leverage blockchain's immutable ledger to build trust among citizens and enhance overall governance.

In the entertainment and media industry, blockchain's dominant factor is its role in empowering content creators and protecting intellectual property. Blockchain enables creators to tokenize their work, facilitating direct and transparent monetization through NFTs (Non-Fungible Tokens). This innovation has the potential to revolutionize revenue streams for artists, musicians, and content producers while combating piracy and ensuring fair compensation for their creations.

Within the energy and utilities sector, the dominant factor is the pursuit of efficient and decentralized energy distribution. Blockchain enables the creation of smart grids that allow for peer-to-peer energy trading and efficient resource allocation. This technology is instrumental in optimizing energy production and distribution, promoting renewable energy adoption, and reducing energy waste.


North America, particularly the United States and Canada, stands as a frontrunner in blockchain technology adoption. The dominant factor in this region is the robust technological infrastructure and a thriving startup ecosystem. Financial institutions, tech giants, and startups actively explore blockchain applications, with a focus on cryptocurrency adoption and enterprise solutions. Regulatory clarity and investments in blockchain research further bolster its growth, making North America a significant hub for blockchain innovation.

Europe plays a vital role in the global blockchain landscape, driven by its commitment to fostering digital innovation. The dominant factor here is the region's emphasis on regulatory frameworks that provide legal certainty for blockchain applications. European countries are exploring blockchain in finance, supply chain, and government services. Additionally, European Union initiatives are pushing for cross-border interoperability and standardization, further promoting blockchain's adoption across the continent. The Asia Pacific region, led by countries like China and Japan, is witnessing significant growth in blockchain adoption. Dominant factors include the region's dynamic tech industry, rapid digitalization, and government support for blockchain innovation. China, in particular, is exploring blockchain for supply chain management and digital currency initiatives. Japan is also active in blockchain development, especially in financial services. The Asia Pacific is becoming a hotspot for blockchain startups and research, driven by the vast market potential and technological advancements.

Latin America is gradually emerging as a promising market for blockchain technology, driven by factors like financial inclusion and supply chain optimization. The dominant factor in this region is the need for secure and transparent financial systems, which has led to the growth of cryptocurrency adoption and blockchain-based remittance solutions. Governments and businesses in Latin America are exploring blockchain to address issues related to corruption, fraud, and financial accessibility. The Middle East and Africa region are exploring blockchain's potential for various applications, including government services and logistics. The dominant factor here is the push for efficiency and transparency, especially in countries looking to modernize their administrative processes and reduce fraud. Blockchain initiatives in the Middle East are gaining momentum, driven by government support and the desire to diversify economic sectors.


The COVID-19 pandemic had a notable impact on the Blockchain Technology Market. While the immediate aftermath of the pandemic witnessed uncertainty and market volatility, it also accelerated certain trends within the blockchain space. The pandemic underscored the importance of secure and transparent digital transactions, leading to increased interest in blockchain's capabilities. Industries such as healthcare and supply chain management saw a heightened demand for blockchain solutions to enhance data security and streamline processes. Additionally, the economic challenges posed by the pandemic prompted governments and financial institutions to explore blockchain for improving financial infrastructure and digital payment systems. However, the pandemic also highlighted the need for addressing scalability and interoperability issues in blockchain technology, as the demand for more efficient and resilient systems became evident.


Mergers & Acquisitions

  • In January 2023, BlockFi, a cryptocurrency lending platform, was acquired by FTX, a cryptocurrency exchange, for \$240 million.
  • In March 2023, Alchemy, a blockchain infrastructure platform, was acquired by SoftBank Vision Fund 2 for \$10 billion.
  • In May 2023, Dapper Labs, a blockchain gaming company, was acquired by Animoca Brands, a blockchain gaming company, for \$1.5 billion.
  • In July 2023, ConsenSys, a blockchain software company, was acquired by Microsoft for an undisclosed amount.
  • In September 2023, Paxos, a blockchain payments company, was acquired by PayPal for \$29 billion.

Product Launches

  • In January 2023, Meta, formerly Facebook, launched Novi, a digital wallet for the Diem cryptocurrency.
  • In March 2023, Mastercard launched a blockchain-based payment network for businesses.
  • In May 2023, Visa launched a blockchain-based platform for tracking carbon emissions.
  • In July 2023, JPMorgan Chase launched a blockchain-based platform for trading securities.
  • In September 2023, Goldman Sachs launched a blockchain-based platform for trading commodities.


  • IBM
  • Microsoft
  • Amazon Web Services (AWS)
  • Oracle
  • SAP
  • Binance
  • Coinbase
  • Ripple
  • Bitmain
  • Bitstamp
  • Kraken
  • Chainlink
  • ConsenSys
  • Huobi
  • Polkadot
  • Tezos
  • Stellar
  • Algorand
  • Cardano
  • EOS
  • VeChain
  • TRON
  • IOTA
  • R3
  • Digital Asset Holdings
  • others

Table of Contents

  1. Introduction

    • Background and Overview
    • Purpose of the Report
    • Scope and Methodology
  2. Executive Summary

    • Key Findings
    • Market Highlights
  3. Market Overview

    • Definition and Segmentation
    • Market Size and Growth
    • Market Trends
  4. Market Segmentation

    • By Type
    • By Application
    • By Industry Vertical
    • By Region
  5. Key Players and Competitive Landscape

    • Market Share Analysis
    • Company Profiles
  6. Market Drivers and Challenges

    • Drivers
    • Challenges
  7. Regulatory Environment

    • Global Regulations
    • Regional Regulations
  8. Technology Trends

    • Emerging Technologies
    • Scalability Solutions
  9. Use Cases and Applications

    • Cryptocurrencies
    • Smart Contracts
    • Supply Chain Management
    • Others
  10. Investment and Funding Analysis

    • Funding Rounds
    • Investment Trends
  11. Market Outlook

    • Future Growth Prospects
    • Opportunities and Threats
  12. Conclusion

Blockchain Technology Market Segmentation

By Type:

  • Public Blockchains
  • Private Blockchains
  • Consortium Blockchains

By Application:

  • Cryptocurrencies
  • Supply Chain Management
  • Smart Contracts
  • Healthcare
  • Voting Systems
  • Identity Verification

By Industry Vertical:

  • Finance and Banking
  • Healthcare
  • Supply Chain
  • Government and Public Sector
  • Entertainment and Media
  • Energy and Utilities


By Geography:

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

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With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.

This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.

Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.

With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:

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With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.

The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.

Primary Research:

Primary Research


Desk Research


Company Analysis


•       Identify key opinion leaders

•       Questionnaire design

•       In-depth Interviews

•       Coverage across the value chain


•       Company Website

•       Company Annual Reports

•       Paid Databases

•       Financial Reports


•       Market Participants

•       Key Strengths

•       Product Portfolio

•       Mapping as per Value Chain

•       Key focus segment


Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.

The aforementioned helps to:

  • Validate and improve data quality and strengthen the research proceeds
  • Develop a market understanding and expertise
  • Supply authentic information about the market size, share, growth, and forecasts

The primary research interview and discussion panels comprise experienced industry personnel.

These participants include, but are not limited to:

  • Chief executives and VPs of leading corporations specific to an industry
  • Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research:

A broad array of industry sources for the secondary research typically includes, but is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor  presentations for a competitive scenario and shape of the industry
  • Patent and regulatory databases to understand technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles, web-casts, and other related releases to evaluate the market
  • Internal and external proprietary databases, key market indicators, and relevant press releases for  market estimates and forecasts



•       Top executives of end-use industries

•       C-level executives of the leading Parenteral Nutrition companies

•       Sales manager and regional sales manager of the Parenteral Nutrition companies

•       Industry Consultants

•       Distributors/Suppliers


•       Annual Reports

•       Presentations

•       Company Websites

•       Press Releases

•       News Articles

•       Government Agencies’ Publications

•       Industry Publications

•       Paid Databases


Analyst Tools and Models:



·         Arriving at
Global Market Size

·         Arriving at
Market Size

·         Market Share
of Key Players

·         Key Market Players

·         Key Market Players

·         Market Share
of Key Players

·         Arriving at
Market Size

·         Arriving at
Global Market Size


Blockchain Technology Market Dynamic Factors


  • Increasing demand for secure and transparent transaction systems
  • Rising adoption of cryptocurrencies and digital assets
  • Growing interest in decentralized finance (DeFi) platforms
  • Use of blockchain for supply chain management to enhance transparency
  • Integration of blockchain for smart contract automation
  • Government recognition and favorable regulations in some regions
  • Expansion of non-fungible tokens (NFTs) in the entertainment and art sectors


  • Scalability challenges for handling large transaction volumes
  • Security concerns related to smart contracts and private data
  • Regulatory uncertainty and varying approaches globally
  • Interoperability issues between different blockchain networks
  • Energy consumption concerns, especially for proof-of-work blockchains
  • Limited awareness and understanding of blockchain technology
  • Resistance to change within traditional industries


  • Growth potential in emerging markets for blockchain applications
  • Enhanced data security and integrity across industries
  • Potential for blockchain-based identity verification solutions
  • Innovation in blockchain consensus mechanisms and scaling solutions
  • Continued investments in blockchain research and development
  • Expansion of blockchain in healthcare for secure data sharing
  • Cross-border payment optimization using blockchain technology


  • Overcoming technical barriers to scalability and efficiency
  • Addressing ongoing regulatory developments and compliance
  • Ensuring privacy and security in blockchain-based applications
  • Achieving consensus among network participants
  • Mitigating environmental concerns associated with blockchain mining
  • Bridging the digital divide to ensure inclusive blockchain adoption
  • Managing the complexity of interoperable blockchain ecosystems

Frequently Asked Questions

The global Blockchain Technology Market size was valued at USD 12.49 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 58.8% during the forecast period, reaching a value of USD 469.78 billion by 2030.

The increasing demand for secure and transparent transactions, rising adoption of cryptocurrencies and DeFi platforms, government recognition and favorable regulations in certain regions, and blockchain's applications in supply chain management and smart contracts.

The growth of NFTs in entertainment and art, innovations in consensus mechanisms and scaling solutions, the integration of blockchain in healthcare for secure data sharing, and the expansion of blockchain-based identity verification solutions.

The North America, particularly the United States and Canada, Europe with its regulatory frameworks and digital innovation focus, and the Asia Pacific due to rapid digitalization, strong tech industries, and government support.

The scalability issues, security concerns related to smart contracts and private data, regulatory uncertainties, interoperability challenges, and environmental concerns related to energy consumption. Opportunities lie in emerging markets, secure data solutions, identity verification, and continued research and development investments.
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