Base Year
Historical Year
Forecast Year
The Latin America blockchain technology market reached a value of approximately USD 0.80 billion in 2023. The market is projected to grow at a CAGR of 54.30 % between 2024 and 2032, reaching a value of around USD 39.78 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Blockchain technology is divided into components including application and solution, infrastructure and protocols, middleware, and others. Remittances are a significant source of income for many families in Latin America.
Blockchain technology facilitates faster, cheaper, and more transparent cross-border payments, reducing the reliance on expensive traditional remittance services.
The Brazilian Digital Transformation Strategy pointed out that the digital economy accounted for approximately 22% of the Brazilian GDP in 2016 and reached 25.1% of GDP in 2021.
Supply chain transparency, government support and regulatory clarity, startup growth, and digital identity solutions are the major trends impacting the Latin America blockchain technology market growth.
June 2024
Nodle and Vivendi forged a pioneering partnership, elevating business communication security. Combining blockchain expertise with Vivendi's global influence, they advanced press release reliability, shaping a new era of trust in media.
January 2024
Telefónica employed blockchain technology to cut infrastructure expenses and enhance mobile coverage in Mexico. Collaborating with Nova Labs, creator of the Helium Network, Telefónica integrated Helium Mobile Hotspots to expand coverage in Mexico City and Oaxaca.
September 2024
Brazil introduced a new national identity card, enhancing security with a blockchain network linking the Federal Revenue Service and civil identification bodies. Serpro developed the platform, supporting the shared registry b-Cadastros for ID and tax registration management.
October 2023
Brazil launched its newest national digital ID program, utilising blockchain technology. The government's groundbreaking announcement disclosed plans to implement blockchain for a digital ID system covering over 214 million citizens.
Supply Chain Transparency
Blockchain enables transparency and traceability in supply chains, which is crucial for agriculture and manufacturing in Latin America. By tracking the movement of goods on a blockchain, companies can ensure the authenticity and integrity of their products.
Government Support and Regulatory Clarity
Many Latin American countries have shown openness to blockchain technology and cryptocurrencies, providing regulatory frameworks to support their development. Clear regulations create a conducive environment for blockchain startups and enterprises to operate and innovate.
Startup Growth
Latin America has seen a rise in blockchain startups across various sectors, including finance, healthcare, and agriculture. These startups are developing innovative solutions to local challenges, attracting investment, and driving growth in the blockchain market.
Digital Identity Solutions
Blockchain-based digital identity solutions offer secure and verifiable identity management, addressing fraud and identity theft issues. These solutions have applications in healthcare, government services and voting systems.
The usage of blockchain technology in the form of courses is increasing by the universities and educational institutions in Latin America which contributes to the development of a skilled workforce and fosters innovation in the blockchain ecosystem.
With growing awareness of environmental issues, there is a demand for sustainable blockchain solutions in Latin America. Projects focusing on energy-efficient consensus mechanisms and carbon offsetting through blockchain are gaining traction.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
“Latin America Blockchain Technology Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Component
Market Breakup by Application
Market Breakup by Enterprise Size
Market Breakup by End User
Market Breakup by Country
Hybrid blockchains contribute to the Latin America blockchain technology market growth as they promote interoperability between public and private networks, facilitating seamless data exchange and collaboration between different stakeholders.
Hybrid blockchains offer enhanced security and privacy features by combining the transparency of public blockchains with the controlled access of private blockchains. Moreover, hybrid blockchains provide customisation options that allow businesses in Latin America to tailor blockchain solutions to their specific needs and requirements.
Public blockchains operate in a decentralized manner, meaning no single entity has control over the network. By leveraging public blockchains, businesses and governments can create more resilient and tamper-resistant systems.
Large enterprises drive growth in the Latin America blockchain technology market share by collaborating with blockchain startups, technology providers, and industry consortia to develop and implement blockchain solutions.
Some large enterprises are investing in the development of blockchain infrastructure, such as blockchain networks, protocols, and platforms. Large financial institutions in Latin America are exploring blockchain solutions for improving payment systems, cross-border transactions, trade finance, and other financial services.
Small and medium enterprises can benefit from the cost-effectiveness of blockchain technology, which allows for streamlined processes, reduced intermediary fees, and improved operational efficiency. By investing in employee training and skill development, small and medium enterprises in Latin America can build internal expertise in blockchain technology.
The corporation offers software systems for personal computers, specializes in technology solutions, and manufactures hybrid tablet computers, smart devices, and others.
Microsoft Corporation: Founded in 1975, Washington-based, the company excels in personal computer software. It extends its portfolio with computer peripherals, hybrid tablets, electronic gaming systems, and more, marking its multifaceted technological prowess.
Amazon Web Services, Inc.: An Amazon subsidiary, AWS offers on-demand cloud computing platforms and APIs worldwide with 200+ services. Founded in 2006, and headquartered in Washington, it ensures uninterrupted service through global data centres.
IBM Corporation: IBM, or International Business Machines Corporation, headquartered in New York, USA, since 1911, specializes in technology solutions, including AI, analytics, automation, storage, networks, and DevOps.
Huawei Technologies Co. Ltd.: Founded in 1987 and is headquartered in Shenzhen, Guangdong. The company is the global provider of smart devices and information and communications technology (ICT) infrastructure.
Other Latin America blockchain technology market key players are SAP SE, Bitso, Buda.com SpA, Koibanx Ltd., Tradewind Markets, Inc., and KuCoin, among others.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Argentina and Brazil are leading the adoption of blockchain technology in Latin America due to economic instability, a large unbanked population, high crypto adoption, government support through regulatory frameworks and tech-savvy populations. These factors drive innovation and growth in the region's blockchain market.
According to ITA, by 2022, 86% of public services have been digitised, aiming for 95% by 2025 and complete digitisation by 2035.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Component |
|
| Breakup by Application |
|
| Breakup by Enterprise Size |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Latin America Blockchain Technology Market Size
Latin America Blockchain Technology Market Growth
Latin America Blockchain Technology Market Trends
Latin America Blockchain Technology Market Share
Latin America Blockchain Technology Manufacturers
Latin America Blockchain Technology Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
The market was valued at USD 0.80 billion in 2023.
The market is projected to grow at a CAGR of 54.30 % between 2024 and 2032.
The revenue generated from the Latin America blockchain technology market is expected to reach USD 39.78 billion in 2032.
The market is categorised according to the type, which includes private, public, and hybrid.
The market key players are Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Huawei Technologies Co. Ltd., SAP SE, Bitso, Buda.com SpA, Koibanx Ltd., Tradewind Markets, Inc., and KuCoin, among others.
Based on the application, the market is divided into digital identity, exchanges, payments, smart contracts, supply chain management, and others.
Based on the components, the market is divided into application and solution, infrastructure and protocols, middleware, and others.
Based on the enterprise size, the market is divided into large, small, and medium enterprises.
The market is broken down into Brazil, Argentina, Mexico, Chile, Colombia, and others.
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
Share