The Blockchain Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Blockchain Services Global Market Report 2024, The blockchain services market size has grown exponentially in recent years. It will grow from $4.7 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 43.6%. The growth in the historic period can be attributed to cryptocurrency adoption, data security concerns, supply chain transparency, smart contracts.
The blockchain services market size is expected to see exponential growth in the next few years. It will grow to $27.39 billion in 2028 at a compound annual growth rate (CAGR) of 41.9%. The growth in the forecast period can be attributed to decentralized finance (defi), nfts and digital assets, supply chain and logistics, healthcare data, government and identity. Major trends in the forecast period include enterprise blockchain adoption, interoperability solutions, blockchain as a service (baas), defi and web3.
There is a growing significance of blockchain services with increased investments in blockchain technology from both government and private entities like banks and financial institutions. The blockchain technology gives rise to new business models in various areas such as cross-border payments, remittance, exchanges, internet banking, trade finance, Know Your Customers (KYC), and risk and compliance with decentralized applications of this technology. For instance, in July 2022, the Italian Ministry of Economic Development has stated that starting in September, some blockchain projects will be eligible to apply for up to $46 million in government subsidies. As part of the Italian government’s objectives for investments in technology, research, and innovation, the fund will have an initial budget of 45 million euros, or roughly $46 million at the time of publication, for expenses and costs ranging from 500 thousand euros ($512,150) to 2 million euros ($2,048,600). The increased use of blockchain technology in organizations will require services to manage the networks and infrastructure, which will increase the demand for blockchain services and boost blockchain services market growth.
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The blockchain services market covered in this report is segmented –
1) By Component: Tools; Services
2) By Application: Payments; Smart Contracts; Supply Chain Management; Governance, Risk, and Compliance Management; Identity Management; Other Applications
3) By End-use: BFSI; IT & Telecom; Healthcare; Retail; Manufacturing; Logistics; Government; Media & Entertainment; Energy and Utilities; Other End-Uses
The blockchain services market report table of contents includes:
1. Executive Summary
2. Blockchain Services Market Characteristics
3. Blockchain Services Market Trends And Strategies
4. Blockchain Services Market – Macro Economic Scenario
5. Global Blockchain Services Market Size and Growth
….
31. Global Blockchain Services Market Competitive Benchmarking
32. Global Blockchain Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Blockchain Services Market
34. Blockchain Services Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Blockchain Services Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Blockchain Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Blockchain Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
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