Global Blockchain Interoperability Market Size, Share & Industry Trends Analysis Report By Solution (Cross-chain Bridging, Cross-chain APIs, Federated or Consortium Interoperability), By Application, By Vertical, By Regional Outlook and Forecast, 2023 -

Global Blockchain Interoperability Market Size, Share & Industry Trends Analysis Report By Solution (Cross-chain Bridging, Cross-chain APIs, Federated or Consortium Interoperability), By Application, By Vertical, By Regional Outlook and Forecast, 2023 - 2030


The Global Blockchain Interoperability Market size is expected to reach $2.3 billion by 2030, rising at a market growth of 28% CAGR during the forecast period.

Utilizing blockchain interoperability, the healthcare industry addresses the issue of fragmented healthcare records, resulting in enhanced access to comprehensive patient data. Hence, the Healthcare sector acquired $26 million revenue in the market in 2022. Healthcare sector is propelled primarily by the rising demand for streamlined data exchange among multiple stakeholders. This includes hospitals, insurers, clinics, and patients who need a secure and standardized communication system. A notable benefit of blockchain technology in healthcare is its comprehensive security features, which ensure data protection and regulatory compliance. In addition, implementing blockchain-enabled innovations in areas like patient consent management, supply chain transparency, clinical trials, and fraud prevention accelerates the growth of blockchain interoperability in the health care segment. Some of the factors impacting the market are increasing advancements in dApps, Interrelated IoT, and lack of knowledge and comprehension.

The market is driven by the rapid development and pervasive adoption of dApps across industries such as finance, supply chain management, and healthcare. dApps may be utilized to facilitate peer-to-peer financial transactions, like currency exchange and asset transfer. dApps can be utilized to monitor the passage of products throughout a supply chain, ensuring accountability and transparency. dApps can be utilized to develop decentralized social media platforms, enabling users to collaborate and share content without a central authority. With interoperability, IoT devices can utilize blockchain's distributed ledger technology to record and verify transactions and sensor data in a secure manner, thereby enhancing data integrity and fostering trust. In IoT deployments, blockchain interoperability improves privacy, security, and decentralized identity management. These developments enable inventive IoT applications in smart cities, healthcare, supply chain management, and energy management by fostering efficiency, cost reduction, and automation. These factors are estimated to propel the market.

However, a significant barrier to blockchain interoperability is a lack of understanding and comprehension of the technology, particularly among small and medium-sized enterprises. Many businesses lack understanding of blockchain technology and its prospective applications. It can be difficult for individuals and organizations unfamiliar with the technology to envisage real-world applications for blockchain beyond cryptocurrencies. Without concrete examples of how blockchain can address actual problems, it is more difficult to inspire interest and investment in technology.

Solution Outlook

Based on solution, the market is segmented into cross-chain bridging, cross chain APIs, federated or consortium interoperability, and others. In 2022, the Cross-chain bridging segment dominated the market with the maximum revenue share. Typically, a cross-chain bridge entails securing or destroying tokens on the source chain via a smart contract and unlocking or minting tokens on the destination chain via a second smart contract. Cross-chain bridges augment the utility of tokens by facilitating cross-chain transactions between distinct blockchains. This benefit is the primary contributor to the segment's growth and increased popularity.

Vertical Outlook

On the basis of vertical the market is segmented into BFSI, healthcare, gaming & entertainment, IT & ITes, telecommunication, food & agriculture, and others. In 2022, the BFSI segment held the largest revenue share on the market. This is due to the requirement for secure data exchange and expedient transactions within the industry. In addition to providing transparency and enhanced security, blockchain technology is an optimal solution for the BFSI industry. In addition, interoperability allows seamless communication between various organizations operating on different blockchain networks and facilitates cross-border transactions, interbank settlements, and the processing of insurance claims.

Application Outlook

Based on application, the market is segmented by application into dApps, Digital Assets/NFTs, cross chain trading & exchange, and cross-chain messages & data sharing. The digital assets/NFTs segment covered a considerable revenue share in the market in 2022. NFTs are tradable and can be exchanged for cash, cryptocurrencies, and other NFTs. Non-fungible tokens are extremely beneficial for identity security. For instance, personal data stored on an immutable blockchain cannot be accessed, taken, or used without the corresponding keys. The most recent development in the realm of NFTs is utilities. Unlocking comprehensive and interactive experiences that combine the digital and corporeal realms in never-before-seen ways requires utilities.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2022, the North America region witnessed the largest revenue share in the market. North America retains the largest market share in the market due to several important factors. These include the region's growing adoption of blockchain technology in a variety of industries, including healthcare, supply chain management, and finance. In addition, well-established North American vendors and government initiatives and investments have contributed to the region's expansive market. North America has positioned itself as a prominent center for blockchain interoperability solutions through a proactive approach to nurturing innovation and collaboration.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, R3, LeewayHertz, Ontology, INERY PTE. LTD., Datachain, Inc., Quant Network Limited, Band protocol, LiquidApps and Orb Labs.

Scope of the Study

Market Segments covered in the Report:

By Solution
  • Cross-chain Bridging
  • Cross-chain APIs
  • Federated or Consortium Interoperability
  • Others
By Application
  • dApps
  • Digital Assets/NFTs
  • Cross-chain Trading & Exchange
  • Cross-chain Messaging & Data Sharing
By Vertical
  • BFSI
  • Healthcare
  • Gaming & Entertainment
  • Telecommunication
  • Food & Agriculture
  • IT & ITeS
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Oracle Corporation
  • R3
  • LeewayHertz
  • Ontology
  • INERY PTE. LTD.
  • Datachain, Inc.
  • Quant Network Limited
  • Band protocol
  • LiquidApps
  • Orb Labs
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Blockchain Interoperability Market, by Solution
1.4.2 Global Blockchain Interoperability Market, by Application
1.4.3 Global Blockchain Interoperability Market, by Vertical
1.4.4 Global Blockchain Interoperability Market, by Geography
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Global Blockchain Interoperability Market by Solution
4.1 Global Cross-chain Bridging Market by Region
4.2 Global Cross-chain APIs Market by Region
4.3 Global Federated or Consortium Interoperability Market by Region
4.4 Global Others Market by Region
Chapter 5. Global Blockchain Interoperability Market by Application
5.1 Global dApps Market by Region
5.2 Global Digital Assets/NFTs Market by Region
5.3 Global Cross-chain Trading & Exchange Market by Region
5.4 Global Cross-chain Messaging & Data Sharing Market by Region
Chapter 6. Global Blockchain Interoperability Market by Vertical
6.1 Global BFSI Market by Region
6.2 Global Healthcare Market by Region
6.3 Global Gaming & Entertainment Market by Region
6.4 Global Telecommunication Market by Region
6.5 Global Food & Agriculture Market by Region
6.6 Global IT & ITeS Market by Region
6.7 Global Others Market by Region
Chapter 7. Global Blockchain Interoperability Market by Region
7.1 North America Blockchain Interoperability Market
7.1.1 North America Blockchain Interoperability Market by Solution
7.1.1.1 North America Cross-chain Bridging Market by Country
7.1.1.2 North America Cross-chain APIs Market by Country
7.1.1.3 North America Federated or Consortium Interoperability Market by Country
7.1.1.4 North America Others Market by Country
7.1.2 North America Blockchain Interoperability Market by Application
7.1.2.1 North America dApps Market by Country
7.1.2.2 North America Digital Assets/NFTs Market by Country
7.1.2.3 North America Cross-chain Trading & Exchange Market by Country
7.1.2.4 North America Cross-chain Messaging & Data Sharing Market by Country
7.1.3 North America Blockchain Interoperability Market by Vertical
7.1.3.1 North America BFSI Market by Country
7.1.3.2 North America Healthcare Market by Country
7.1.3.3 North America Gaming & Entertainment Market by Country
7.1.3.4 North America Telecommunication Market by Country
7.1.3.5 North America Food & Agriculture Market by Country
7.1.3.6 North America IT & ITeS Market by Country
7.1.3.7 North America Others Market by Country
7.1.4 North America Blockchain Interoperability Market by Country
7.1.4.1 US Blockchain Interoperability Market
7.1.4.1.1 US Blockchain Interoperability Market by Solution
7.1.4.1.2 US Blockchain Interoperability Market by Application
7.1.4.1.3 US Blockchain Interoperability Market by Vertical
7.1.4.2 Canada Blockchain Interoperability Market
7.1.4.2.1 Canada Blockchain Interoperability Market by Solution
7.1.4.2.2 Canada Blockchain Interoperability Market by Application
7.1.4.2.3 Canada Blockchain Interoperability Market by Vertical
7.1.4.3 Mexico Blockchain Interoperability Market
7.1.4.3.1 Mexico Blockchain Interoperability Market by Solution
7.1.4.3.2 Mexico Blockchain Interoperability Market by Application
7.1.4.3.3 Mexico Blockchain Interoperability Market by Vertical
7.1.4.4 Rest of North America Blockchain Interoperability Market
7.1.4.4.1 Rest of North America Blockchain Interoperability Market by Solution
7.1.4.4.2 Rest of North America Blockchain Interoperability Market by Application
7.1.4.4.3 Rest of North America Blockchain Interoperability Market by Vertical
7.2 Europe Blockchain Interoperability Market
7.2.1 Europe Blockchain Interoperability Market by Solution
7.2.1.1 Europe Cross-chain Bridging Market by Country
7.2.1.2 Europe Cross-chain APIs Market by Country
7.2.1.3 Europe Federated or Consortium Interoperability Market by Country
7.2.1.4 Europe Others Market by Country
7.2.2 Europe Blockchain Interoperability Market by Application
7.2.2.1 Europe dApps Market by Country
7.2.2.2 Europe Digital Assets/NFTs Market by Country
7.2.2.3 Europe Cross-chain Trading & Exchange Market by Country
7.2.2.4 Europe Cross-chain Messaging & Data Sharing Market by Country
7.2.3 Europe Blockchain Interoperability Market by Vertical
7.2.3.1 Europe BFSI Market by Country
7.2.3.2 Europe Healthcare Market by Country
7.2.3.3 Europe Gaming & Entertainment Market by Country
7.2.3.4 Europe Telecommunication Market by Country
7.2.3.5 Europe Food & Agriculture Market by Country
7.2.3.6 Europe IT & ITeS Market by Country
7.2.3.7 Europe Others Market by Country
7.2.4 Europe Blockchain Interoperability Market by Country
7.2.4.1 Germany Blockchain Interoperability Market
7.2.4.1.1 Germany Blockchain Interoperability Market by Solution
7.2.4.1.2 Germany Blockchain Interoperability Market by Application
7.2.4.1.3 Germany Blockchain Interoperability Market by Vertical
7.2.4.2 UK Blockchain Interoperability Market
7.2.4.2.1 UK Blockchain Interoperability Market by Solution
7.2.4.2.2 UK Blockchain Interoperability Market by Application
7.2.4.2.3 UK Blockchain Interoperability Market by Vertical
7.2.4.3 France Blockchain Interoperability Market
7.2.4.3.1 France Blockchain Interoperability Market by Solution
7.2.4.3.2 France Blockchain Interoperability Market by Application
7.2.4.3.3 France Blockchain Interoperability Market by Vertical
7.2.4.4 Russia Blockchain Interoperability Market
7.2.4.4.1 Russia Blockchain Interoperability Market by Solution
7.2.4.4.2 Russia Blockchain Interoperability Market by Application
7.2.4.4.3 Russia Blockchain Interoperability Market by Vertical
7.2.4.5 Spain Blockchain Interoperability Market
7.2.4.5.1 Spain Blockchain Interoperability Market by Solution
7.2.4.5.2 Spain Blockchain Interoperability Market by Application
7.2.4.5.3 Spain Blockchain Interoperability Market by Vertical
7.2.4.6 Italy Blockchain Interoperability Market
7.2.4.6.1 Italy Blockchain Interoperability Market by Solution
7.2.4.6.2 Italy Blockchain Interoperability Market by Application
7.2.4.6.3 Italy Blockchain Interoperability Market by Vertical
7.2.4.7 Rest of Europe Blockchain Interoperability Market
7.2.4.7.1 Rest of Europe Blockchain Interoperability Market by Solution
7.2.4.7.2 Rest of Europe Blockchain Interoperability Market by Application
7.2.4.7.3 Rest of Europe Blockchain Interoperability Market by Vertical
7.3 Asia Pacific Blockchain Interoperability Market
7.3.1 Asia Pacific Blockchain Interoperability Market by Solution
7.3.1.1 Asia Pacific Cross-chain Bridging Market by Country
7.3.1.2 Asia Pacific Cross-chain APIs Market by Country
7.3.1.3 Asia Pacific Federated or Consortium Interoperability Market by Country
7.3.1.4 Asia Pacific Others Market by Country
7.3.2 Asia Pacific Blockchain Interoperability Market by Application
7.3.2.1 Asia Pacific dApps Market by Country
7.3.2.2 Asia Pacific Digital Assets/NFTs Market by Country
7.3.2.3 Asia Pacific Cross-chain Trading & Exchange Market by Country
7.3.2.4 Asia Pacific Cross-chain Messaging & Data Sharing Market by Country
7.3.3 Asia Pacific Blockchain Interoperability Market by Vertical
7.3.3.1 Asia Pacific BFSI Market by Country
7.3.3.2 Asia Pacific Healthcare Market by Country
7.3.3.3 Asia Pacific Gaming & Entertainment Market by Country
7.3.3.4 Asia Pacific Telecommunication Market by Country
7.3.3.5 Asia Pacific Food & Agriculture Market by Country
7.3.3.6 Asia Pacific IT & ITeS Market by Country
7.3.3.7 Asia Pacific Others Market by Country
7.3.4 Asia Pacific Blockchain Interoperability Market by Country
7.3.4.1 China Blockchain Interoperability Market
7.3.4.1.1 China Blockchain Interoperability Market by Solution
7.3.4.1.2 China Blockchain Interoperability Market by Application
7.3.4.1.3 China Blockchain Interoperability Market by Vertical
7.3.4.2 Japan Blockchain Interoperability Market
7.3.4.2.1 Japan Blockchain Interoperability Market by Solution
7.3.4.2.2 Japan Blockchain Interoperability Market by Application
7.3.4.2.3 Japan Blockchain Interoperability Market by Vertical
7.3.4.3 India Blockchain Interoperability Market
7.3.4.3.1 India Blockchain Interoperability Market by Solution
7.3.4.3.2 India Blockchain Interoperability Market by Application
7.3.4.3.3 India Blockchain Interoperability Market by Vertical
7.3.4.4 South Korea Blockchain Interoperability Market
7.3.4.4.1 South Korea Blockchain Interoperability Market by Solution
7.3.4.4.2 South Korea Blockchain Interoperability Market by Application
7.3.4.4.3 South Korea Blockchain Interoperability Market by Vertical
7.3.4.5 Singapore Blockchain Interoperability Market
7.3.4.5.1 Singapore Blockchain Interoperability Market by Solution
7.3.4.5.2 Singapore Blockchain Interoperability Market by Application
7.3.4.5.3 Singapore Blockchain Interoperability Market by Vertical
7.3.4.6 Malaysia Blockchain Interoperability Market
7.3.4.6.1 Malaysia Blockchain Interoperability Market by Solution
7.3.4.6.2 Malaysia Blockchain Interoperability Market by Application
7.3.4.6.3 Malaysia Blockchain Interoperability Market by Vertical
7.3.4.7 Rest of Asia Pacific Blockchain Interoperability Market
7.3.4.7.1 Rest of Asia Pacific Blockchain Interoperability Market by Solution
7.3.4.7.2 Rest of Asia Pacific Blockchain Interoperability Market by Application
7.3.4.7.3 Rest of Asia Pacific Blockchain Interoperability Market by Vertical
7.4 LAMEA Blockchain Interoperability Market
7.4.1 LAMEA Blockchain Interoperability Market by Solution
7.4.1.1 LAMEA Cross-chain Bridging Market by Country
7.4.1.2 LAMEA Cross-chain APIs Market by Country
7.4.1.3 LAMEA Federated or Consortium Interoperability Market by Country
7.4.1.4 LAMEA Others Market by Country
7.4.2 LAMEA Blockchain Interoperability Market by Application
7.4.2.1 LAMEA dApps Market by Country
7.4.2.2 LAMEA Digital Assets/NFTs Market by Country
7.4.2.3 LAMEA Cross-chain Trading & Exchange Market by Country
7.4.2.4 LAMEA Cross-chain Messaging & Data Sharing Market by Country
7.4.3 LAMEA Blockchain Interoperability Market by Vertical
7.4.3.1 LAMEA BFSI Market by Country
7.4.3.2 LAMEA Healthcare Market by Country
7.4.3.3 LAMEA Gaming & Entertainment Market by Country
7.4.3.4 LAMEA Telecommunication Market by Country
7.4.3.5 LAMEA Food & Agriculture Market by Country
7.4.3.6 LAMEA IT & ITeS Market by Country
7.4.3.7 LAMEA Others Market by Country
7.4.4 LAMEA Blockchain Interoperability Market by Country
7.4.4.1 Brazil Blockchain Interoperability Market
7.4.4.1.1 Brazil Blockchain Interoperability Market by Solution
7.4.4.1.2 Brazil Blockchain Interoperability Market by Application
7.4.4.1.3 Brazil Blockchain Interoperability Market by Vertical
7.4.4.2 Argentina Blockchain Interoperability Market
7.4.4.2.1 Argentina Blockchain Interoperability Market by Solution
7.4.4.2.2 Argentina Blockchain Interoperability Market by Application
7.4.4.2.3 Argentina Blockchain Interoperability Market by Vertical
7.4.4.3 UAE Blockchain Interoperability Market
7.4.4.3.1 UAE Blockchain Interoperability Market by Solution
7.4.4.3.2 UAE Blockchain Interoperability Market by Application
7.4.4.3.3 UAE Blockchain Interoperability Market by Vertical
7.4.4.4 Saudi Arabia Blockchain Interoperability Market
7.4.4.4.1 Saudi Arabia Blockchain Interoperability Market by Solution
7.4.4.4.2 Saudi Arabia Blockchain Interoperability Market by Application
7.4.4.4.3 Saudi Arabia Blockchain Interoperability Market by Vertical
7.4.4.5 South Africa Blockchain Interoperability Market
7.4.4.5.1 South Africa Blockchain Interoperability Market by Solution
7.4.4.5.2 South Africa Blockchain Interoperability Market by Application
7.4.4.5.3 South Africa Blockchain Interoperability Market by Vertical
7.4.4.6 Nigeria Blockchain Interoperability Market
7.4.4.6.1 Nigeria Blockchain Interoperability Market by Solution
7.4.4.6.2 Nigeria Blockchain Interoperability Market by Application
7.4.4.6.3 Nigeria Blockchain Interoperability Market by Vertical
7.4.4.7 Rest of LAMEA Blockchain Interoperability Market
7.4.4.7.1 Rest of LAMEA Blockchain Interoperability Market by Solution
7.4.4.7.2 Rest of LAMEA Blockchain Interoperability Market by Application
7.4.4.7.3 Rest of LAMEA Blockchain Interoperability Market by Vertical
Chapter 8. Company Profiles
8.1 Oracle Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 R3
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Partnerships, Collaborations, and Agreements:
8.2.2.2 Product Launches and Product Expansions:
8.2.2.3 Acquisition and Mergers:
8.2.3 SWOT Analysis
8.3 LeewayHertz
8.3.1 Company Overview
8.3.2 SWOT Analysis
8.4 Ontology
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Partnerships, Collaborations, and Agreements:
8.5 INERY PTE. LTD.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Product Launches and Product Expansions:
8.6 Datachain, Inc.
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.3 SWOT Analysis
8.7 Quant Network Limited
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.7.2.2 Product Launches and Product Expansions:
8.7.3 SWOT Analysis
8.8 Band protocol
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 LiquidApps
8.9.1 Company Overview
8.9.2 SWOT Analysis
8.10. Orb Labs
8.10.1 Company Overview
8.10.2 SWOT Analysis
Chapter 9. Winning Imperative for Blockchain Interoperability Market

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