Blockchain Technology Market Size Projected to Reach USD
Ottawa, June 27, 2025 (GLOBE NEWSWIRE) -- The 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.
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.
| 1) | IBM Supply Chain Intelligence Suite | |
| 2) | Order Management System | |
| 3) | Supply Chain Transparency | |
| 4) | Blockchain for Food | |
| 5) | Supplier Management |
| 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 |
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 and make them intelligent and adaptable to complex scenarios.
| 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 | |
| Challenges | Regulatory uncertainty hindering adoption across sectors | |
| Segments Covered | Type, Component, Application, Enterprise, End-Use, and Region | |
| By Type (2024) | Public Cloud: | |
| By Component (2024) | Infrastructure & Protocols: | |
| By Application (2024) | Payments: | |
| By Enterprise Size (2024) | Large Enterprises: | |
| By End-Use (2024) | Financial Services: | |
| 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% | |
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.
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.
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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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, (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.
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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.
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.
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.
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 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 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.
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.
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.
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.
The large enterprise segment dominated the blockchain technology market in 2024. Large enterprises enable users to experience streamlined cross-border payments and improved . 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 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.
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 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.
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- Japan
- India
- South Korea
- Thailand
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Brazil
- Mexico
- Argentina
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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