Blockchain-oriented services Industry Data Book Covers Decentralized Finance, Blockchain Messaging Apps, Decentralized Identity, Non-fungible Token, Web 3.0 Blockchain Markets.
The global blockchain-oriented services industry generated over USD 29.09 billion in 2021 and is expected to grow at a CAGR of 41.3% over the forecast period.
Decentralized Finance Market Report Highlights
The global decentralized finance market size was valued at USD 13.61 billion in 2022, and it is expected to reach USD 231.19 billion by 2030, expanding at a CAGR of 46.0% from 2023 to 2030.
- The smart contracts segment is expected to witness significant growth over the forecast period. Decentralized contracts have various advantages, such as transparency
- The enforcement of smart contracts is intrinsically built into blockchain technology since every action is tracked and made visible to the public
- The payments segment is expected to witness the fastest CAGR over the forecast period. The growth can be ascribed to the disintermediation feature of DeFi, which can reduce transaction cost
- Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. In 2022, YouGov and Visa surveyed 16,295 adults in 14 markets across the Asia Pacific
- It was discovered that 21% of Asia Pacific consumers had previously used DeFi services, which is anticipated to increase by 17% this year, and that 38% of consumers were interested in trying DeFi services in the upcoming six months
Blockchain Messaging Apps Market Report Highlights
The global blockchain messaging apps market size reached a valuation of USD 22.3 million in 2021, and it is expected to reach USD 536.5 million by 2030, growing at a CAGR of 43.6% from 2022 to 2030.
- The android segment dominated the market in 2021. Android is a cost-effective and high-functionality operating system preferred by individuals, contributing to the segment’s growth
- The message segment dominated the market in 2021. The rising demand for secured and decentralized blockchain-based messaging apps from businesses and individuals is expected to drive the growth of the segment during the forecast period
- The individual segment is expected to emerge as the fastest-growing segment during the forecast period. The growth of the segment is attributed to the growing popularity of cryptocurrency and features such as requesting money and transferring cryptocurrency through chat to other contacts
- The Asia Pacific regional market is expected to register rapid growth during the forecast period. The increasing digitalization and adoption of new technologies across the region are expected to increase the adoption of blockchain messaging apps
Access the Global Blockchain-oriented services Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Decentralized Identity Market Report Highlights
The global decentralized identity market size was valued at USD 0.65 billion in 2022, and it is expected to reach USD 102.0 billion by 2030, expanding at a CAGR of 90.3% from 2023 to 2030.
- The biometric segment is anticipated to register the fastest growth rate over the forecast period. The increasing launch of biometric identification platforms by some of the major firms, including, Innovatrics and IDEMIA, is expected to drive the segment
- The individual segment is projected to register the fastest growth rate over the forecast period. Decentralized identity is used by individuals owing to benefits such as privacy and security concerns, which is a major factor expected to propel the segment growth
- The small and medium enterprises segment is anticipated to emerge as the fastest growing segment over the forecast period. The growth of the segment can be attributed to the growing digitalization across all SMEs worldwide
- The BFSI segment dominated the market in 2022. The banking firms adopting decentralized identity solutions to reduce identity fraud is one of the major factors propelling the segment growth
- Asia Pacific is projected to register the fastest growth rate over the forecast period. The increasing demand for decentralized identity solutions across the region is anticipated to play a vital role in driving the regional market
Non-fungible Token Market Report Highlights
The global non-fungible token market size was valued at USD 20.44 billion in 2022, and it is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 34.2% from 2023 to 2030.
- In terms of type, the digital asset segment dominated the market in 2022. The demand for art NFTs is growing as they enable artists to track all work transactions. This tracking of transactions helps artists avail perpetual royalty payback benefits on every transaction of their digital art
- In terms of application, the collectibles segment dominated the market in 2022. The growth of the segment can be attributed to the increasing demand for collectibles across arts, sports, and games
- In terms of end use, the commercial segment is expected to experience the fastest growth over the forecast period. The demand for NFTs is growing among businesses to enable improved transactions across a range of application areas
- The growing use of cryptocurrency across North American countries such as the U.S. and Canada is expected to create new opportunities for market growth across the region
Web 3.0 Blockchain Market Report Highlights
The global Web 3.0 blockchain market size was USD 1.73 billion in 2022, and it is expected to reach USD 33.53 billion by 2030, growing at a CAGR of 47.1% from 2023 to 2030.
- The public segment dominated the market in 2022. The growth of the segment can be attributed to the increased demand for public blockchain technology owing to the free, secure, and permissionless accessibility to anyone with internet access
- The cryptocurrency segment dominated the market in 2022. Enterprises are increasingly in need of high-performance cryptocurrency transaction services. Web 3.0 cryptocurrencies use blockchain and smart contracts to automate transactions and eliminate the need for a third-party entity which is anticipated to support the segment's growth
- The retail e-commerce segment is anticipated to register the fastest growth during the forecast period. Increasing demand for Web 3.0 blockchain in retail e-commerce owing to benefits such as reduced costs, faster payments, improved security, and increased transparency is expected to fuel the segment's growth
- The Asia Pacific is anticipated to witness the fastest growth during the projection period. The increasing advancements in 5G, artificial intelligence, and machine learning is the major factor driving the growth of the Asia Pacific region. Moreover, growing investments in research development of Web 3.0 is anticipated to aid the growth
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Competitive Landscape
Key players operating in the blockchain-oriented services industry are –
- Compound Labs, Inc.
- MakerDAO
- Aave
- Signal
- Cyber Dust
- Crypviser
- Microsoft Corporation
- Accenture plc
Grand View Research’s blockchain-oriented services industry databook is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Go through the table of content of Blockchain-oriented services Industry Data Book to get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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