Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Blockchain Market size was valued at USD 21.4 billion in 2024 and is poised to reach USD 470.3 billion in 2037 by expanding at a CAGR of 26.3% during the anticipated timeline from 2025 to 2037. In 2025, the industry size of blockchain was estimated at USD 27.4 billion
The blockchain technology has emerged as a vital part of various industries' supply chains. It solved a major pain point by boosting the transparency of supply chains, by allowing businesses to adhere to ESG goals. For instance, the World Economic Forum (WEF) highlighted how blockchain improved the supply chains of food by bolstering the authenticity of the products and reducing fraud. The market is expected to further benefit from the creation of a standardized Regulatory Clarity Index (RCI) to assess the transparency of a nation’s blockchain and cryptocurrency regulations. A standardized global RCI is currently under development, whilst initiatives such as Regulator Knowledge Exchange (RKE) bolster the market’s growth. Between 2016 to 2022, there was a significant rise in blockchain patents from merely 3 to 1,850.
The market is supported by the on-chain network metrics that offer real-time insights into blockchain network activity. For instance, in May 2023, during higher congestion, the daily median gas price on the Ethereum network went up to USD 13.90, while in contrast, during times of a bull market in 2021, the median price per transaction exceeded USD 30.5. The fluctuations are an indication of network activity on transaction costs and serve as a gauge for the scalability potential of blockchain. The convergence of all factors indicates that the market will maintain its expansion by the end of 2037.
Blockchain Sector: Growth Drivers and Challenges
Growth Drivers
- Blockchain integration in supply chain transparency for the public sector: Supply chain management requires solutions to improve its transparency, and blockchain perfectly fits the bill in providing an answer to the demand. Public sector initiatives are at the forefront of leveraging blockchain in supply chain management. For instance, the U.S. Food & Drug Administration (FDA) has estimated the efficacy of pharmaceutical supply chains under the aegis of the Drug Supply Chain Security Act (DSCSA). The convergence of these trends leads to opportunities for greater public sector use cases supporting the market’s expansion.
- Central bank digital currency (CBDC) development: CBDC frameworks are underpinned by blockchain, leading to central banks across multiple economies exploring the development of CBDCs. In September 2023, the International Monetary Fund (IMF) released a report which noted that more than 75% of central banks worldwide are actively piloting or researching CBDCs. Moreover, the IMF also estimated that CBDC adoption can reduce transaction costs by over 2% of GDP in some economies, which incentivizes investments in blockchain infrastructure.
Impact of AI and ML on Blockchain Product Development and Operational Efficiency
The dual impact of AI & ML is revolutionizing the market by improving the process of product development. Within the blockchain ecosystem, AI & ML are especially vital in automation, such as consensus algorithms and fraud detection. Moreover, the companies that are actively adopting AI & ML in blockchain technology are benefiting from faster time-to-market (TTMs). The table below highlights how AI & ML are assisting the leading companies in the blockchain industry:
|
Company |
Integration of AI & ML |
Outcome |
|---|---|---|
|
IBM |
Implemented AI-driven simulations to accelerate product design for blockchain-based solutions. |
Reduced development time by 30.5%, lowering R&D costs by 25.3%. |
|
Maersk |
Integrated AI for supply chain optimization in blockchain systems. |
Reduced logistics costs by 22.2% through predictive analytics. |
|
Tesla |
Applied AI-powered predictive analytics for quality control in blockchain-powered vehicles. |
Improved product quality by 15.3%, enhancing customer satisfaction. |
Challenges
- Data privacy conflicts in government-led digital identity systems:
Although the adoption rates have been favorable from various governments, conflicts have arisen between decentralization and data privacy regulations. For instance, in 2024, the U.S. National Institute of Standards and Technology (NIST) published a report, which highlighted blockchain's transparency colliding with privacy laws such as GDPR, delaying deployments. - Interoperability Issues in CBDC Cross-Border Transactions: A significant challenge impacting the market is the lack of interoperability between different blockchain protocols. In a paper published in 2025, the IMF reported that varying blockchain frameworks, such as Ethereum or Hyperledger, can prove to be a hindrance to CBDC transactions across borders. Any such impediment negatively affects the user experience. Moreover, as long as global protocols are not standardized, the CBDC adoption rate worldwide will be delayed, impacting the market’s expansion.
Blockchain Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
26.3% |
|
Base Year Market Size (2024) |
USD 21.4 billion |
|
Forecast Year Market Size (2037) |
USD 470.3 billion |
|
Regional Scope |
|
Blockchain Segmentation
Application (Supply Chain Management, Cross-Border Payments)
The supply chain management segment of the blockchain market is poised to hold a dominant revenue share of 65.3% by the end of 2037. A significant factor in the segment’s profitability is the rising application of blockchain in supply chain management due to the growing calls for transparency. In 2024, the World Economic Forum (WEF) released a report highlighting the favorable impact of blockchain on the food and pharmaceutical supply chains. To support the application, the WEF released a report in 2024 that highlighted the efficacy of blockchain on the supply chains of food and pharmaceuticals.
Provider (Cloud-based, Application, Middleware, Infrastructure)
The cloud-based provider segment is expected to account for 40.2% revenue share by the end of 2037, owing to its scalability. Moreover, cloud-based solutions have better accessibility, which makes them lucrative for SMEs. The World Trade Organization (WTO) has highlighted the surging popularity of cloud-based blockchain services as enterprises require cost-effective solutions. Additionally, the WEF has highlighted that blockchain can be transformative for SMEs.
Our in-depth analysis of the global blockchain market includes the following segments:
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Application |
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Provider |
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Enterprise Size |
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Customize this ReportBlockchain Industry - Regional Synopsis
North America Market Forecast:
The North America blockchain market is estimated to hold a dominant revenue share of 46% by the end of 2037. A major factor in the regional market’s dominance is the presence of a supportive regulatory environment. The presence of tech giants such as Amazon Web Services (AWS), Microsoft, IBM, etc., bolsters the sector’s growth. NIST remains at the forefront of investigating blockchain protocols, which promise to create interoperability in the region. The proactive approach ensures the estimated market dominance of the North America market.
The U.S. market holds a major revenue share in North America. In July 2023, the U.S. reintroduced blockchain-friendly regulations, i.e., the Responsible Financial Innovation Act. Moreover, the supportive regulatory ecosystem in the country makes it a lucrative market.
|
Metrics |
Details |
|
Key Adoption Areas |
Government, Private Sector |
|
Legislation (2023) |
Responsible Financial Innovation Act reintroduced in July, McHenry-Thompson Bill |
|
Impact |
Boosts regulatory clarity & adoption |
The Canada blockchain market is slated to expand during the stipulated timeframe. The market is supported by favorable regulatory policies. Discussions are underway on creating a national blockchain strategy to support economic growth. Additionally, the guidance for crypto-asset trading platforms was introduced by the Canadian Securities Administrators (CSA) to create a favorable regulatory ecosystem. With the ease of business in Canada improving and a supportive push for blockchain, the market is positioned to expand its reach.
APAC Market Forecast
The APAC blockchain market is poised to register the fastest CAGR of 25.1% during the anticipated timeline, owing to the increasing adoption of blockchain across multiple industries. Notably, APAC is experiencing a shift from large corporations to SMEs in blockchain adoption. Two recent supportive regulatory shifts came from South Korea and Singapore. In the former, the Virtual Asset User Protection Act was enacted in July 2024, which mandates Virtual Asset Service Providers to register with the Financial Services Commission, and in the latter, the Monetary Authority (MAS) implemented major amendments to the Payment Services Act.
Supportive regulatory policies in China are at the forefront of the push to create a standardized infrastructure for blockchain applications. The 14th Five-Year Plan of China (2021-2025) puts the onus on blockchain as a key technology for national development. Additionally, in May 2023, China established the national blockchain research center in a bid to cultivate a skilled workforce, to set apart the regional market from its competitors.
The Japan market is slated to expand due to its progressive stance on cryptocurrency regulations. Japan remains one of the first countries to recognize cryptocurrency as legal property. Additionally, major automakers in Japan, such as Toyota and Mitsubishi, are actively investigating blockchain to improve supply chain transparency. The move aligns with Japan’s reputation as an economy driven by technology.
Companies Dominating the Blockchain Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The global blockchain market is competitive, with key players adopting strategic initiatives to bolster their presence. Companies such as IBM and Microsoft dominate the market, while NEC and Fujitsu are targeting blockchain solutions to improve their supply chain transparency. Opportunities are expected to arise for companies offering blockchain—as—a—service (BaaS) solutions throughout the market’s forecast period. The table below highlights the major players in the market.
|
Company Name |
Country of Origin |
Estimated Revenue Share (2024) |
|
IBM Blockchain |
USA |
16% |
|
Microsoft Azure Blockchain |
USA |
14% |
|
Oracle Blockchain |
USA |
12.2% |
|
Amazon Web Services (AWS) |
USA |
11.1% |
|
Alibaba Cloud |
China |
9.4% |
|
Tencent Cloud |
China |
XX% |
|
SAP |
Germany |
XX% |
|
Accenture |
Ireland |
XX% |
|
Fusionex |
Malaysia |
XX% |
Below are the areas covered for each company in the blockchain market:
In the News
- In November 2024, Global Dollar Network was introduced by Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood. The Global Dollar Network will be an open network designed to accelerate stablecoin usage worldwide.
- In November 2024, crypto exchange Coinbase announced the launch of an engineering hub in Singapore in partnership with the Economic Development Board. The engineering hub is poised to boost the blockchain developer scene in Singapore.
- In October 2024, Ellipsis Labs announced a USD 21 million fund raise led by Haun Ventures. The funding is positioned to accelerate the development of Atlas, i.e., the blockchain purpose-built for verifiable finance.
Author Credits: Abhishek Verma
- Report ID: 596
- Published Date: May 12, 2025
- Report Format: PDF, PPT
