Global Market Size, Forecast and Trend Highlights Over 2025-2037
Blockchain Distributed Ledger Market size was valued at USD 5.2 billion in 2024 and is expected to secure a valuation of USD 44.7 billion in 2037, expanding at a CAGR of 18% during the forecast period, i.e. 2025-2037. In 2025, the industry size of blockchain distributed ledger is estimated at USD 6.1 billion.
The fundamental transformation in financial operations, including the rising demand for blockchain for improved security investments and increased processing speed while ensuring complete transparency. Multiple payment intermediaries cause both high expenses and prolonged transaction times in conventional cross-border financial deals. Blockchain technology removes these problems by allowing automated direct peer transactions with immediate settlements and reduced fees. Major financial institutions currently implement blockchain technology within their operational frameworks. In October 2024, the Society for Worldwide Interbank Financial Telecommunication initiated a pilot program for central and commercial banks, to use the Swift network to test digital currency transactions for faster international payment transfers.
On the other hand, in October 2024, the Visa Tokenized Asset Platform from Visa was introduced, which enables cross-section transactions that create a connection between bank-based assets and blockchain systems. Financial institutions are driving a global transition to blockchain-based financial systems which both accelerate processing times and minimize transaction costs. The rise of blockchain adoption has driven financial institutions to develop processes for integrating blockchain technology into standard banking operations to enhance system security and accessibility.
Blockchain Distributed Ledger Market: Growth Drivers and Challenges
Growth Drivers
- Surge in demand for DeFi: Decentralized finance has gained a lot of traction in recent years, and users have benefitted with direct financial services access without intermediaries for lending activities, borrowing activities, and asset management capabilities, with the help of DeFi. The DeFi blockchain platforms implement smart contracts that perform automatic transaction execution according to the predefined criteria, lowering operational expenses along with fraud prevention measures. DeFi has received a substantial acceleration through partnerships, for instance, Aave announced the use of Polygon to deploy layer-2 scaling technology in April 2021, thus allowing faster less expensive transactions. More platforms have started integrating stablecoins and tokenized assets while providing secured decentralized financial instruments equivalent to traditional banking options as DeFi adoption continues to increase.
- Cybersecurity to create immense opportunities: Cybersecurity receives a fundamental transformation through blockchain technology, owing to its cryptographic nature that builds a decentralized secure ledger and safeguards crucial information. For instance, through blockchain implementation, healthcare settings and insurance sectors manage confidential records while maintaining data integrity and guarding against illegal access attempts. Partnerships between the companies and institutions are propelling the blockchain distributed ledger market growth. In January 2025, AMI collaborated with C-DAC, to deploy Intel-based servers that boost cybersecurity measures in India.
Several governments are also emphasizing implementing blockchain-based cybersecurity initiatives. In May 2024, the Advanced Research Projects Agency for Health (ARPA-H) launched a blockchain-powered USD 50 million program to build automatic hospital cybersecurity tools and decrease attack vulnerabilities. Growing cyber threats require blockchain technology to defend critical infrastructure and establish data integrity while reducing fraud across multiple industrial sectors. Organizations are committed to implementing blockchain security solutions due to their essential role in developing modern cybersecurity systems worldwide.
Challenges
- Increased energy consumption: Blockchain adoption faces major resistance due to high energy requirements, particularly within Proof-of-Work (PoW) networks that include Bitcoin. PoW operations demand miners to resolve sophisticated mathematical problems through substantial processing power while increasing the demand for substantial power consumption. The Cambridge Centre for Alternative Finance reports that Bitcoin mining uses more than 110 TWh of annual energy intake similar to energy utilization ranges of some small independent countries.
- Rise in security risks: Blockchain deployment faces significant impediments due to security-related risks and vulnerabilities in smart contracts. Smart contracts containing bugs and exploits allowed hackers to illegally extract over USD 60 million during the metro-legal DAO hack in 2016, and the Ronin Bridge attack that occurred in 2022, with a loss of USD 615 million. The improper management of private keys results in security vulnerabilities which let unauthorized access and asset theft occur. Blockchain security suffers additional compromises due to attackers that target exchange platforms along with wallet operations through phishing scams.
Blockchain Distributed Ledger Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
18% |
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Base Year Market Size (2024) |
USD 5.2 billion |
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Forecast Year Market Size (2037) |
USD 44.7 billion |
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Regional Scope |
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Blockchain Distributed Ledger Segmentation
Ledger Type (Permissioned, Permissionless, Hybrid)
The permissioned segment is estimated to hold blockchain distributed ledger market share of more than 55.7% by 2037. Blockchains designated for particular use by authorized parties have become more popular, as privacy along with enhanced security measures enable industries to handle critical data with regulatory compliance. With permissioned blockchains, the users need authorization to access the network, as the restricted entry ensures sensitive data protection. Their appeal emerges from their ability to regulate user access making them suitable for sectors requiring high privacy standards and strong regulatory compliance including the healthcare and finance industries. For instance, in March 2023, Avaneer Health established a permissioned blockchain service to provide secure medical records, to strengthen both patient data privacy and compliance with healthcare regulations.
The permissioned blockchain systems enhance operational efficiency and scalability properties, thereby becoming appropriate for applications that need extensive throughput capabilities. Fast transaction speeds and lowered operational costs have become achievable through networks that authorize their users while excluding public blockchain users. The digital banking industry benefits from Cogent Bank's collaboration with TassatPay, that resulted in the introduction of permissioned blockchain solution in June 2022, to boost regulatory compliance and operational processing efficiency.
Consensus Mechanism (Proof of Work, Proof of Stake, Proof of Authority)
The proof of work segment in blockchain distributed ledger market is expected to account for a significant revenue during the forecast period. The PoW consensus mechanism presents itself as fundamental in blockchain technology alongside its major role in Bitcoin cryptocurrency. Complex computational puzzles implement its secured model to facilitate blockchain immutability and integrity. Blockchain security plays a crucial role, as the decentralized networks require such measures to keep transactions safe in financial applications, that need to maintain trust in decentralized systems. Many blockchain applications select the PoW mechanism, owing to its successful history of securing blockchain networks.
Proof-of-Work encounters criticism, as its energy requirements generate substantial environmental sustainability issues. Developments with substantial intent have emerged to address these concerns. In April 2022, the combined team of Blockstream and Block Inc. launched their proof-of-concept modeling of a Bitcoin mining center, relying entirely on Tesla Solar power together with Megapack storage systems. Through this proof-of-concept implementation, the initiative demonstrates how PoW operations can coexist with sustainability efforts to both protect the environment and retain the security features of the PoW consensus mechanism.
Our in-depth analysis of the global blockchain distributed ledger market includes the following segments:
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Ledger Type |
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Consensus Mechanism |
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Application |
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Deployment Model |
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Industry Vertical |
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Customize this ReportBlockchain Distributed Ledger Industry - Regional Scope
North America Market
North America blockchain distributed ledger market is expected to dominate revenue share of around 61.5% by the end of 2037. The adoption rate of blockchain technology by major financial institutions operating in North America continues to climb, as they seek to boost transaction efficiency alongside increased transparency. JPMorgan Chase established Onyx, its digital assets unit in 2020 and rebranded it to Kinexys in November 2024. The platform leads digital payments administration and asset custodianship operations. With its JPM Coin stablecoin, the bank executes USD 2 billion of transactions every day while working toward boosting repo transaction speeds, through tokenization of monetary assets and financial instruments. The growth of DeFi platforms in the region drives the expansion of blockchain market reach. These technology platforms let investors engage with financial services, that operate free from intermediaries.
The U.S. blockchain distributed ledger market is increasing, owing to the rise in demand for blockchain technology, to enhance transparency in financial transactions. Another factor that is expected to propel the blockchain distributed ledger market growth includes the cross-border payments as well as remittances, that benefit from reduced costs and transaction times. The country is home to major companies including Microsoft, IBM, and Amazon that are investing heavily in the development of blockchain in the country. In addition, the solutions addressing performance issues and scalability of early blockchain systems are also anticipated to create lucrative opportunities for the country’s market. Advancements in privacy-enhancing techniques, interoperability protocols, and consensus mechanisms also accelerate the demand for blockchain distributed ledger in the U.S. These innovations improve the usability and functionality of the blockchain networks, and make them more demanding in businesses.
The blockchain distributed ledger market in Canada is growing rapidly due to the regulatory system for blockchain and cryptocurrency in the country which develops acceptance among innovators and draws financial institutions into the market. Community adoption of blockchain technology is steadily rising among the financial institutions in the country. For instance, in September 2024, the Canadian Securities Administrators developed regulatory frameworks for crypto-asset trading platforms to defend investor welfare, guard blockchain distributed ledger market ethics and reliability.
The regulatory framework developed by authorities has established trustworthy ground, through which blockchain startups alongside established companies can operate business. The Canada blockchain industry also achieved consolidation through strategic investments through mergers and acquisitions. For instance, in September 2022, Coinsquare Ltd. signed an agreement to acquire CoinSmart Financial Inc. to establish one of Canada's biggest crypto-asset trading platforms. The combined entity is expected to gain leadership in Canada's crypto market following service and liquidity enhancements from this consolidation.
Asia Pacific Market Analysis
The Asia Pacific blockchain distributed ledger market is expected to account for a significant revenue share between 2025 and 2037 owing to government initiatives in the region. Blockchain technology has become the focus of governments that aim to enhance operational efficiency and build transparency practices. The increasing industrial partnerships serve as a catalyst for blockchain technology adoption across the region. For instance, Mastercard collaborated with cryptocurrency service providers when they introduced crypto-funded Mastercard payment cards to Asia Pacific in November 2021. The joint business venture between Mastercard and selected providers lets the users easily make payments with cryptocurrencies, thereby increasing blockchain adoption in additional financial sectors.
The growth of the blockchain distributed ledger market in China is influenced mainly by the blockchain integration that has entered both conventional businesses and the gaming sector. Blockchain adoption in supply chain management pushes industries to support blockchain distributed ledger market expansion. More Chinese companies are implementing blockchain technology within their gaming and entertainment sectors. China advances blockchain technology outside finance as part of its innovation focus while gamers increasingly use digital assets across the industry.
The blockchain distributed ledger market in India is expanding, owing to the adoption of blockchain by financial services. The implementation of blockchain has become a necessity for the financial sector, as it adds greater transparency with better security operations, making them more efficient. For instance, Cred became the first fintech company to offer its users access to the e-rupee central bank digital currency in January 2025. India's digital economy advancement takes shape through this initiative, as it simplifies digital transaction operations and supports CBDC deployment as part of blockchain financial system integration. India faces regulatory hurdles, but its rising crypto and blockchain solution interest highlights the progress that embraces digital assets. Blockchain technology adoption across India continues to rise, attributed to these changes, securing its position as a significant country in the blockchain realm.
Companies Dominating the Blockchain Distributed Ledger Market
- Waltonchain
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- IBM Blockchain Platform
- Tron
- Polygon
- VeChain
- Zilliqa
- NEO
- Stellar
- R3 Corda
- Ripple
- EOS
- Ethereum
- Hyperledger Fabric
- Harmony
The competitive landscape of the blockchain distributed ledger market is rapidly evolving, attributed to the integration of advanced technologies in energy management systems by key players. They are focused on developing new technologies and products catering to the stringent regulatory norms and consumer demand. These key players are adopting several strategies such as mergers and acquisitions, joint ventures, partnerships, and novel product launches to enhance their product base and strengthen their market position. Here are some key players operating in the global blockchain distributed ledger market:
In the News
- In September 2024, Soramitsu joined forces with the Nigerian Institute of Social and Economic Research to promote blockchain technology research, capacity building, and application.
- In May 2024, the World Bank collaborated with the Swiss National Bank, and SIX Digital Exchange to accelerate efforts in the use of digitalized technologies in capital markets.
Author Credits: Abhishek Verma
- Report ID: 7121
- Published Date: Feb 07, 2025
- Report Format: PDF, PPT
