Blockchain Market Comprehensive Analysis and Forecast 2023 to 2028

Business Mar 12, 2025 10 Add to Reading List

Markntel Advisors’ report, Blockchain Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Blockchain presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Blockchain Market Research Report & Market Summary:

The Global Blockchain Market is rapidly expanding and expects a whopping 73.1% CAGR during the forecast period, i.e., 2023-28. The most prominent factors contributing to the market growth are the ever-increasing need for operational efficiency, especially in banks & other financial institutes, coupled with substantial investments in blockchain technology with the rising legalization of cryptocurrency. The consistently increasing venture-capital funding for blockchain start-up companies is notably contributing to the expansion of the global blockchain market.

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Blockchain Market Dynamics:

Key Driver-

Massive Venture Capital Investments due to Rapidly Rising Market Value of Cryptocurrencies - Cryptocurrencies incur lower transaction fees than other payment methods, as they are based on blockchain technology. As a result, many individuals & businesses are increasingly adopting the technology for cross-border payments & remittances since the latter involves high transaction costs. Moreover, since cryptocurrencies are immutable, regulatory authorities cannot impose any restrictions on cross-border transactions. All these aspects have resulted in a significant surge in the market value of cryptocurrencies, i.e., attracting massive venture capital funding in blockchain startups, which projects lucrative prospects for the Global Blockchain Market during 2023-28.

Blockchain Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Component

Services- Market Size & Forecast 2018-2028F, USD Million
- Consultation- Market Size & Forecast 2018-2028F, USD Million
- Development & Integration- Market Size & Forecast 2018-2028F, USD Million
- Support & Maintenance- Market Size & Forecast 2018-2028F, USD Million
Platform- Market Size & Forecast 2018-2028F, USD Million

By Provider

Application Provider- Market Size & Forecast 2018-2028F, USD Million
Infrastructure Provider- Market Size & Forecast 2018-2028F, USD Million
Middleware Provider- Market Size & Forecast 2018-2028F, USD Million

By Type

Private- Market Size & Forecast 2018-2028F, USD Million
Public- Market Size & Forecast 2018-2028F, USD Million
Hybrid- Market Size & Forecast 2018-2028F, USD Million

By Organization

Small- Market Size & Forecast 2018-2028F, USD Million
Medium- Market Size & Forecast 2018-2028F, USD Million
Large- Market Size & Forecast 2018-2028F, USD Million

By Application

Payment- Market Size & Forecast 2018-2028F, USD Million
Documentation- Market Size & Forecast 2018-2028F, USD Million
Exchanges- Market Size & Forecast 2018-2028F, USD Million
Supply Chain Management- Market Size & Forecast 2018-2028F, USD Million
Digital Identity- Market Size & Forecast 2018-2028F, USD Million
Others (Advertising insights, Smart Contracts, etc.) - Market Size & Forecast 2018-2028F, USD Million

Amongst all applications, payments hold the biggest share in the Global Blockchain Market, and the same trend is expected during the forecast period, i.e., 2023-28.

By End User

BFSI- Market Size & Forecast 2018-2028F, USD Million
Government- Market Size & Forecast 2018-2028F, USD Million
Logistics- Market Size & Forecast 2018-2028F, USD Million
Healthcare- Market Size & Forecast 2018-2028F, USD Million
Energy & Utilities- Market Size & Forecast 2018-2028F, USD Million
Media & Entertainment- Market Size & Forecast 2018-2028F, USD Million
IT & Telecom- Market Size & Forecast 2018-2028F, USD Million
Retail & E-commerce- Market Size & Forecast 2018-2028F, USD Million
Others (Agriculture, Manufacturing, etc.)- Market Size & Forecast 2018-2028F, USD Million

Here, the BFSI (Banking, Financial Services, & Insurance) sector is the largest end-user in the Global Blockchain Market, mainly due to its growing focus on minimizing frauds by eliminating the middlemen of finances. Blockchain technology is highly effective in removing vulnerability to cyber-attacks, breaches, & theft, which makes it a preferred choice for several banks & financial institutes to facilitate secure transactions.

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific.

Amongst all regions, North America dominates the Blockchain Market globally. The well-established & massive IT sector across countries like the US & Canada, coupled with substantial R&D investments in open-source distributed ledger technology to attain quick transactions & data transparency, are the prime aspects driving the regional market.

As indicated in the latest market research report published by Markntel Advisors, “Blockchain Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Blockchain industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/global-blockchain-market.html

Top Companies Operating in the Blockchain Market:

IBM
Amazon Web Services, Inc.
Microsoft
SAP
Intel
Oracle
NTT Data
Accenture
Deloitte Touche Tohmatsu Limited
Consensys Systems
Huawei
Monax
Blockchain Tech LTD

*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*

Other Report:

Luxury Car Market size was valued at USD3trillion in 2024 and is projected to reach USD 2.12 trillion by 2030. Along with a CAGR of around 10.28%.
The Global Utility Drone Market is valued at around USD 318million in 2023 and is estimated to grow at a CAGR of around 29.12% during the forecast period 2024-29.

Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the market?
What leading factors would propel and impede the industry across the geography?
How has the industry been evolving in terms of geography & Blockchain Market adoption?
How has the competition been shaping up across the geography?

Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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