Blockchain Technology Market Size to be Valued at USD 393.42 Billion in 2032 with a CAGR of 43.6% during 2025-2032; Growing Digital Environment is Expected to Fuel the Demand for the Technology in the Market

The global blockchain technology market size was valued at USD 20.16 billion in 2024. The growth of the market is projected to hit USD 31.18 billion in 2025 and USD 393.42 billion by 2032, recording a CAGR of 43.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Blockchain Technology Market Size, Share & Industry Analysis, By Component (Platform/Solution and Blockchain as a Service), By Type (Public, Private, Hybrid, and Consortium), By Application (Digital Identity, Payments, Smart Contracts, Supply Chain Management, Internet of Things (IoT), and Others), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media, and Entertainment, Retail, E-Commerce and Consumer Goods, Logistics and Transportation, and Others), and Regional Forecast, 2025-2032”.

The rapid expansion of the digital landscape is anticipated to drive the demand for blockchain technology across various industries. As market growth opportunities expand, numerous companies are making significant investments in this technology. Blockchain trends have transformed multiple industry sectors and are projected to continue shaping them throughout the forecast period.

Adoption of AI Generated Content to Fuel innovation 

Gen-AI has the ability to curate fresh and new content and insights while utilizing blockchain’s security and evident ledger system to verify the legitimacy of the generated data. The impact of generative AI has driven major companies towards the adoption of AI generated content for innovation and profits.

Wipro Limited Announced the Launch of Decentralized Identity and Credential Exchange ID to Drive Market Demand

In February 2023, Wipro Limited launched an advanced security chain, known as Decentralized Identity and Credential Exchange (DICE) ID that helps the users to control their privacy and displays easier, quicker, and protected sharing of private data online. DICE ID aids the process of verification and issuance of temper-resistant, self-certifiable digital credentials which is empowered by blockchain mechanism. Additionally, DICE ID has an identity wallet which has provisions certified personal data from licensed issuers.

Adoption of Tokenization is Fueling the Blockchain Market Development

Tokenization is the process of creating a unique digital representation of an asset on a blockchain network. It offers several advantages, including composability, programmability, and enhanced transparency, which enables financial institutions to optimize operations, improve liquidity, and unlock new revenue opportunities through innovative applications. These benefits are already being realized, with large-scale implementations of on-chain transaction.

However, understanding key concepts such as cryptographic keys, consensus algorithms, and decentralized governance requires a steep learning curve. A lack of expertize in these areas can lead to a shortage of skilled professionals and developers for enterprises, which acts as a restraining factor in blockchain technology market growth.

Emerging Product Innovations Leads to Strengthening of Market Positions of Key Players

Key industry players are working on creating a variety of distributed ledger solutions to acknowledge customer and organization rising needs. Innovative solutions are aiding the companies to expand their business portfolio and expertise. Upgrading and expanding the products’ portfolio will help enhance the vendors’ market place while expanding the blockchain technology market share.

Key Players Profiled in the Report

• Wipro Limited (India)
• Accenture plc (Ireland)
• Infosys Limited (India)
• IBM Corporation (U.S.)
• Oracle Corporation (U.S.)
• Tech Mahindra Limited (India)
• Tata Consultancy Service Limited (India)
• Toshiba Digital Solutions (Japan)
• Consensys (U.S.)
• LeewayHertz (U.S.)
• NTT (Japan)
• Ripple (U.S.)
• EY (U.K.)
• AWS (U.S.)
• Alibaba Cloud (China)
• HPE (U.S.)
• SAP SE (Germany)
• Block (U.S.)
• Nadcab Labs (India)
• …and more

Key Industry Development

• September 2024: Consensys collaborated with Axios to assemble a Crypto Policy Event in Washington, D.C. Consensys also announced to assemble top policymakers, industry leaders, media figures and personalities, and prominent crypto voices for a meeting and discussion in Washington, D.C. regarding the upcoming regulation for web3.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/blockchain-market-100072

Further Report Findings:

• By application, in 2024, the payments segment held the largest market share. Ethereum and Bitcoin remain widely used as digital payment methods across various industries, particularly in travel and online retail.
• North America is the leading region in the blockchain technology market in terms of revenue during the forecast period. Government policies and initiatives in the U.S., Canada, and Mexico are major contributors to market growth. These efforts foster a regulatory framework that encourages innovation while addressing concerns related to transparency and security.
• Europe is projected to hold a significant share of the global blockchain market. Crypto Valley played a crucial role in driving industry growth, attractive nearly one-third of the regions total funding.
• The adoption of blockchain technology in South America has surged due to economic needs, regulatory advancements, and innovative applications in various sectors. Brazil has witnessed a revival of institutional crypto activity, signaling renewed interest from major financial institutions.

Table of Segmentation