Global Blockchain Distributed Ledger Market Share 2024, Forecast To 2033
15 Feb, 2024
The blockchain distributed ledger market has experienced exponential growth, climbing from $14.11 billion in 2023 to $22.92 billion in 2024, with an impressive compound annual growth rate (CAGR) of 62.4%. Historical growth is attributed to the emergence of cryptocurrencies, transparency and tamper-proof recordkeeping, increased interest in decentralized systems, and the adoption of smart contracts. Forecasts anticipate continued exponential growth to $161.34 billion in 2028, driven by decentralized finance (DeFi) expansion, central bank digital currencies (CBDCs), tokenization, blockchain in identity management, and the rise of non-fungible tokens (NFTs). Key trends include interoperability, privacy-enhancing technologies, environmental sustainability, and blockchain in supply chain management.
Global Blockchain Distributed Ledger Market Key Driver
An increase in investments in private blockchain distributed ledger technology is expected to propel the growth of the blockchain distributed ledger market. Private blockchain distributed ledgers offer advantages such as permissioned access, data privacy, centralized processes, and reduced transaction costs. Investments from entities like Binance Labs signal a commitment to advancing blockchain technologies and expanding use cases, fostering market growth.
Get A Free Sample Of The Global Blockchain Distributed Ledger Market ReportGlobal Blockchain Distributed Ledger Market Segments
The blockchain distributed ledger market covered in this report is segmented –
1) By Type: Private Blockchain, Public Blockchain
2) By Component: Solution, Service
3) By Application: Payments, Smart Contracts, Supply Chain Management, Compliance Management, Trade Finance, Other Applications
4) By End-Use Industry: BFSI, Government And Public Sector, Manufacturing, Retail And E-Commerce, Media And Entertainment, Transportation And Logistics, Healthcare, Energy And Utilities
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America will be the largest region in the blockchain distributed ledger market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain distributed ledger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Blockchain Distributed Ledger Industry Players
AlphaPoint; Amazon Web Services Inc.; Auxesis Services And Technologies Ltd.; Digital Asset Holdings LLC; Earthport; Huawei Technologies Co. Ltd.; Intel Corporation; International Business Machines Corporation; iXledger; NTT DATA Corporation; Accenture PLC; Eris Industries; Visa Inc.; Microsoft Corporation; Chain Inc.; Blockchain Tech Ltd.; Capgemini; Deloitte Touche Tohmatsu Limited; Global Arena Holding Inc.; Ethereum; BitFuryUsa Inc.; Coinbase Inc.; Abra Inc.; Walmart Inc.; Monero; Binance; Ripple; Bitmain Technologies Holding Company; Circle Internet Financial Limited; BitGo
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Blockchain Distributed Ledger Market Overview
A blockchain distributed ledger refers to a database that is distributed among several computers, nodes, institutions, or nations that helps to increase data transfer speed, reduce the need for a third party in corporate operations, and improve capital optimization. The blockchain distributed ledger is used in making payments, smart contracts, supply chain management, compliance management, and trade finance.
Blockchain Distributed Ledger Global Market Report 2023 provides data on the global blockchain distributed ledger market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The blockchain distributed ledger market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.