Global Blockchain Distributed Ledger Market Report and Forecast 2024-2032

Global Blockchain Distributed Ledger Market Report and Forecast 2024-2032

Global Blockchain Distributed Ledge Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global blockchain distributed ledge market size reached a value of USD 6.74 billion in 2023. Aided by factors including decentralisation, transparency, security, and the proliferation of digital assets, the market is projected to further grow at a CAGR of 32.2% between 2024 and 2032 to reach a value of USD 83.15 billion by 2032.

Blockchain distributed ledger technology revolutionises the way data is stored, shared, and managed by providing a decentralised, immutable, and transparent system of record-keeping. Unlike traditional centralised databases, blockchain distributed ledgers utilise a peer-to-peer network of nodes to validate and record transactions in a secure and tamper-proof manner. This distributed and consensus-driven approach eliminates the need for intermediaries, reduces the risk of fraud and manipulation, and enhances trust and accountability in digital transactions.

Several factors are driving the blockchain distributed ledger market growth. One of the primary drivers is the increasing demand for digital transformation across various sectors. Organisations are recognising the potential of blockchain technology to streamline business processes, enhance operational efficiency, and create new value propositions. From finance and supply chain management to healthcare and government services, blockchain distributed ledgers offer a secure and efficient solution for data management, transaction processing, and asset tokenisation.

Blockchain technology enables the tokenisation of real-world assets such as real estate, art, commodities, and securities, transforming them into digital tokens that can be traded, transferred, and fractionalised on blockchain networks. Tokenisation democratises access to investment opportunities, enhances liquidity, and enables new forms of asset ownership and value creation, driving innovation and disruption in traditional financial markets and asset classes.

The growing adoption of digital currencies and digital assets is another key driver of the market. As the popularity of cryptocurrencies such as Bitcoin and Ethereum continues to rise, there is a growing need for secure and reliable infrastructure to support the trading, custody, and settlement of digital assets. Blockchain distributed ledgers provide the underlying technology infrastructure for digital asset exchanges, custody solutions, and tokenization platforms, driving demand for blockchain-based financial services and decentralised finance (DeFi) applications, consequently driving up the blockchain distributed ledger market share.

Moreover, regulatory clarity and supportive government initiatives are fostering the adoption of blockchain distributed ledger technology. Governments around the world are recognising the potential benefits of blockchain technology in areas such as identity management, voting systems, supply chain traceability, and public service delivery. Through regulatory frameworks, pilot projects, and investment incentives, governments are promoting innovation and entrepreneurship in the blockchain space, driving adoption and investment in blockchain distributed ledger solutions.

As per the blockchain distributed ledger market analysis, a notable trend in the market is the convergence of blockchain with other emerging technologies such as artificial intelligence (AI), the Internet of Things (IoT), and edge computing. By integrating blockchain with AI algorithms, IoT sensors, and edge computing devices, organisations can create intelligent and autonomous systems that leverage the security, transparency, and decentralisation of blockchain technology to enhance data integrity, privacy, and trust in digital ecosystems.

As blockchain networks proliferate and mature, there is a growing need for interoperable and scalable solutions that enable seamless communication and integration between different blockchain platforms and networks. Interoperability standards, cross-chain protocols, and layer-two scaling solutions are being developed to address these challenges and unlock the full potential of blockchain technology for global adoption and interoperability, aiding the blockchain distributed ledger market development.

Market Segmentation

The market can be divided based on the component, type, application, end use, and region

Market Breakup by Component

• Solution
• Services

Market Breakup by Type

• Private
• Public
• Hybrid

Market Breakup by Application

• Payments
• Smart Contracts
• Supply Chain Management
• Trade Finance
• Others

Market Breakup by End Use

• BFSI
• Retail and E-Commerce
• Government and Public
• Manufacturing
• Media and Entertainment
• Transportation and Logistics
• Healthcare
• Energy and Utilities
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global blockchain distributed ledge market. Some of the major players explored in the report by Expert Market Research are as follows:

• Amazon Web Services Inc.
• Huawei Technologies Co. Ltd.
• Intel Corporation
• IBM Corporation
• NTT DATA Group Corporation
• Auxesis Services & Technologies (P) Ltd.
• Digital Asset Holdings LLC
• Distributed Ledger, Inc.
• Accenture

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.