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Blockchain Market worth $248.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

4 months ago

July 14, 2024

CHICAGO, July 12, 2024 /PRNewswire/ — The global Blockchain Market size is projected to grow from USD 20.1 billion in 2024 to USD 248.9 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 65.5% during the forecast period, according to a new report by MarketsandMarkets™. The integration of cloud-based solutions and advanced technologies like AI, ML, has propelled the rapid growth of blockchain adoption. Cloud-based blockchain solutions offer remote accessibility and cost reductions, while AI, ML, and integration are used for efficiency. These combined advancements in blockchain cater to organizations’ demands for scalable, cost-effective, and efficient security solutions, driving significant expansion in the Blockchain Market.

Browse in-depth TOC on “Blockchain Market“

632 – Tables
62 – Figures
444 – Pages

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Scope of the Report

Report Metrics	Details
Market size available for years	2018-2029
Base year considered Advertisement	2023
Forecast period	2024–2029
Forecast units	Value (USD Billion)
Segments Covered	Component, Provider, Type, Deployment Mode, Organization Size, Vertical, And Region
Geographies covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered Advertisement	Major vendors in the global Blockchain Market AWS (US), Oracle (US), IBM (US), Huawei (China), Accenture (Ireland), TCS (India), Google (US), Alibaba (China), Microsoft (US), OVHcloud (France), SAP (Germany), and HPE (US), Tencent (China), Wipro (India), Infosys (India), Lumen (US), DigitalOcean (US), VMware (US), Applied Blockchain (UK), ConsenSys (US), Akamai (US), Contabo (Germany), Leewayhertz (US), Vultr (US), Cloudsigma (Switzerland), Mevspace (Poland), and Scaleway (France)

Based on the components, platforms to accounts for the highest market size during the forecast period.

The blockchain platform is a decentralized solution used for tracking, documenting, and facilitating transactions. Financial transactions were the initial application of blockchain platforms. But now days, it may be used in many different sectors, such supply chain management and e-commerce. These software programs offer the foundation required to develop apps that depend on any form of transaction. Software programs known as blockchain platforms let companies create blockchain-based apps. The use of a distributed, immutable ledger to record activities, resource movements, and transactions over a network is known as blockchain technology. Businesses can employ a blockchain-based ledger system for any application where transactions are necessary. The blockchain platform operates as a development platform with an integrated distributed ledger-which is an encrypted storage space for all kinds of data. The integrated data is then used to help develop consensus mechanisms that are used to validate and approve transaction.

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By vertical, banking and financial services accounts for the highest market size during the forecast period.

Blockchain technology transforms the financial industry by creating a decentralized database of distinct and digital assets. It is simpler to transfer assets using tokens that represent the assets “off-chain” when a distributed ledger is used. Blockchain technology has several advantages for banking, one of which is the creation of tokenized security, which can completely do away with middlemen and reduce asset exchange costs. The application space for banking and financial services has recognized the value of blockchain technology, which aid in the security of consumer transactions. In addition, new business models in payment, online banking, and financial transaction technologies are being made possible by the technological shift from centralized infrastructure management to the distributed ecosystem.

By region, North America accounts for the highest market size.

North America is now the leading region in the global Blockchain Market due to its abundance of blockchain suppliers. Due to the presence of economically robust nations like the US and Canada, the region offers the most substantial and cutting-edge technological infrastructure. North America is one of the main geographic contributors to the global Blockchain Market, even when it comes to market size. One of the main factors driving the Blockchain Market’s growth in North America is the existence of major regional players like IBM, AWS, and others. Businesses in this area are creating blockchain-based solutions to improve customer service. Government agencies are investigating blockchain technology on a number of fronts, including protocols, security assurances, cryptographic techniques, use cases, applications, and current services (National Institute of Standards and Technology, NIST). The study’s conclusions have been documented in academic articles, experimentation software, and suggestions for next NIST projects in this field. Blockchain technology is not limited to manufacturing supply chains; it can also be applied to data registries, digital identities, and record management systems.

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Top Companies in Blockchain Market:

Key Players AWS (US), Oracle (US), IBM (US), Huawei (China), Accenture (Ireland), TCS (India), Google (US), Alibaba (China), Microsoft (US), OVHcloud (France), SAP (Germany), and HPE (US), T Tencent (China), Wipro (India), Infosys (India), Lumen (US), DigitalOcean (US), VMware (US), Applied Blockchain (UK), ConsenSys (US), Akamai (US), Contabo (Germany), Leewayhertz (US), Vultr (US), Cloudsigma (Switzerland), Mevspace (Poland), and Scaleway (France) are the key players and other players in the Blockchain Market.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Latest News

COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.

Launch of Physical Cards

COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.

Wallet Growth Milestone

The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.

Transaction Volume Surge

In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.

Integration with Revolut

COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.

Award Recognition

COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.

New Strategic Partnerships

COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.

Welcoming Pavel Matveev

COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.

Season 2 Point System Launch

Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.

NFT Giveaway

In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.

For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.

Website: coca.xyz

COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.

About COCA

COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.

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Latest News

Stake and Earn with KuCoin’s Innovative GemPool Platform

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.

GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.

Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.

For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.

Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.

In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.

On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”

Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”

Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests

About Trust Wallet

Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.