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Blockchain Market Forecast: Growth Drivers & Outlook to 2028

  • Writer: Amit Kumar
    Amit Kumar
  • 9 minutes ago
  • 4 min read

According to recent findings, the Global Blockchain Market is rapidly expanding and expects a whopping 73.1% CAGR during the forecast period, i.e., 2023-28.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

Blockchain Overview:

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 Outlook and Market 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.

Global Blockchain Segmentation Analysis:

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

According to reports,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

According to reports,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. 

By Region

  • North America

  • South America

  • Europe

  • Middle East & Africa

  • Asia-Pacific.

According to reports, Amongst all regions, North America dominates the Blockchain Market globally.

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/global-blockchain-market.html

Some of the Market players in the Global Blockchain are:

  • IBM

  • Amazon Web Services, Inc.

  • Microsoft

  • SAP

  • Intel

  • Oracle

  • NTT Data

  • Accenture

  • Deloitte Touche Tohmatsu Limited

  • Consensys Systems

  • Huawei

  • Monax

  • Blockchain Tech LTD


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Key Highlights of the Report – Unlock Valuable Market Insights

  • Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.

  • In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.

  • Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.

  • Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.

  • Import & Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.

  • Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.

  • Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.

  • Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

  • Define objectives and research design

  • Collect data through surveys and interviews

  • Analyze and validate data using reliable tools

  • Forecast trends and deliver actionable insights

Read Blog:

About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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