Global Blockchain Distributed Ledger Market Report and Forecast 2024-2032

Global Blockchain Distributed Ledger Market Outlook

The global blockchain distributed ledger market size reached approximately USD 6.74 billion in 2023. The market is estimated to grow at a CAGR of 32.2% in the forecast period of 2024-2032, reaching a value of around USD 83.15 billion by 2032.

Key Trends in the Market

Blockchain is a type of distributed ledger technology (DLT) which is distributed across a network of computers and provides the facility of recording, sharing, and synchronisation of transactions. The information on this ledger is secured with cryptography and can be accessed through keys and crypto signatures.

• Increased implementation of smart contracts by businesses to ensure transparency and clear communication among multiple parties is one of the crucial blockchain distributed ledger market trends. Blockchain DLT offers self-verification and self-execution features to execute a specific outcome automatically when the term is met and reduce the risk of miscommunication and cyber-attacks.

• With the burgeoning trend of decentralised finance (DeFi), blockchain DLT gains prominence in DeFi as it provides peer-to-peer trading, eliminates the need for intermediaries, and enhances the security of a transaction.

• Blockchain DL technology is widely integrated into non-fungible tokens (NFT) to provide a secure ledger so it cannot be altered or manipulated, which provides impetus to the blockchain distributed ledger market growth.

• Several central banks across the world are developing the concept of digital currencies by implementing blockchain technology for easy monetarisation of digital transactions.

Market Analysis

Based on the component, the market is bifurcated into solution and services. On the basis of type, the market is divided into private, public, and hybrid. Based on application, the market is categorised into payments, smart contracts, supply chain management, and trade finance, among others.

The blockchain distributed ledger market segmentation, on the basis of end use, includes BFSI, retail and e-commerce, government and public, manufacturing, media and entertainment, transportation and logistics, healthcare, and energy and utilities, among others. The major regional markets of blockchain distributed ledger are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the blockchain distributed ledger market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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 PLC  

• Others

Market Share by Application

Payments represent a significant portion of the blockchain distributed ledger market share, which can be attributed to the burgeoning demand for transparency and security in transactions. Blockchain DLT eliminates the requirement of mediators and intermediaries to simplify transactions and provide peer-to-peer transfer. It also offers the provision of fast cross-border payments and ensures the safety of payee and payer information in transactions. Additionally, it provides the facility of cryptocurrency wallets for quick and simple transactions, proliferating the expansion of the market.

Market Share by Region

As per the blockchain distributed ledger market analysis, North America accounts for a substantial share of the global market due to the rising adoption of advanced technological solutions in the region. The growing presence of key players in the region who are focusing on developing customised solutions for their clients also provides a positive market outlook.

The proliferation of blockchain startups, coupled with increased investments by market players, further provides new growth avenues to the market. Moreover, several end-use sectors in the region are recognising the potential of blockchain distributed ledger to use cryptography securely and accurately, which is driving the market growth.

Competitive Landscape

Amazon Web Services Inc., incorporated in 2002, is a comprehensive provider of cloud technology, headquartered in Seattle, the United States. The company launched Amazon-Managed Blockchain (AMB) recently, which allows its clients to create and manage a simple blockchain network.

Huawei Technologies Co. Ltd. is a multinational technology company, that was founded in 1987 and has its headquarters in Shenzhen, China. The company is a provider of information and communications technology, smart devices, and Huawei cloud blockchain technology, among others.

Intel Corporation, established in 1968, is a leader in world-class technology, with its headquarters in California, the United States. Its product portfolio includes processors, chipsets, server products, and memory and storage, among others.

Other blockchain distributed ledger market players include IBM Corporation, NTT DATA Group Corporation, Auxesis Services & Technologies (P) Ltd., Digital Asset Holdings LLC, Distributed Ledger, Inc., and Accenture PLC, among others.

Key Highlights of the Report