Frequently Asked Questions
The global blockchain technology market was valued at USD 9.8 Billion in 2022.
The blockchain technology market is anticipated to grow at a CAGR of 88.2% between 2023 and 2030, reaching USD 819.52 Billion in 2030.
Private cloud is the leading segment by type, holding over 52% share in terms of value in 2022.
The payments segment governs the demand for blockchain technology worldwide, holding a massive share of over 38% in 2022.
The healthcare segment will post the highest CAGR over the forecast period.
Asia Pacific is fuelling the rapid growth of the blockchain technology industry, with an over one-third share in 2022.
The top players include Microsoft Corporation, Monax, The Linux Foundation, and IBM Corporation. Other major players include BTL Group Ltd, Circle Internet Financial Limited, Digital Asset Holdings LLC, Ripple, and Deloitte Touche Tohmatsu Limited.
The growing need for decentralized and secure digital transactions, increasing adoption in multiple industries, the potential for cost and time efficiency, and the development of blockchain-based applications and services are the primary market drivers of the blockchain technology industry.
The legislative uncertainties and obstacles, scalability constraints, energy consumption concerns, interoperability issues, and the perception of blockchain as complex and difficult to deploy are the primary market limitations of the blockchain technology market.
The major market opportunities in the blockchain technology industry include the widespread adoption of blockchain in financial services, supply chain management, and healthcare and the emergence of Blockchain-as-a-Service (BaaS) solutions.