Learn about the global blockchain services market through The Business Research Company, which provides information on blockchain services market size, blockchain services market drivers and restraints, blockchain services market players, the COVID-19 impact on the blockchain services market, and more.

The global blockchain services market is expected grow from $2.94 billion in 2021 to $4.65 billion in 2022 at a compound annual growth rate (CAGR) of 58%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The blockchain service market is expected to reach $35.30 billion in 2026 at a CAGR of 66%.

The increased use of blockchain technology in organizations will require services to manage the networks and infrastructure, which will increase the demand for blockchain services market growth.

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The blockchain services market consists of sales of blockchain services and related products. For companies engaged in building blockchain applications, Blockchain-as-a-Service acts as a third-party service that creates and manages cloud-based networks which is a growing field for blockchain technology. The revenue generated by the blockchain services market is through sales of blockchain services by platform vendors and service providers for the application of identity management, payments, smart contracts, supply chain management, and others.

Global Blockchain Services Market Segments Include:

By Component: Tools, Services

By End-Use: BFSI, IT and Telecom, Healthcare, Retail, Manufacturing, Logistics, Government, Media and Entertainment, Energy and Utilities, Others

By Application: Payments, Smart Contracts, Supply Chain Management, Governance, Risk, and Compliance Management, Identity Management, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacifica was the largest region in the blockchain services market in 2021.

Quantum computing is gaining popularity in the blockchain space that will help overcome the problems faced in providing blockchain services. Quantum computing is a process that uses quantum-mechanical phenomena like superposition and quantum entanglement for computing. Quantum computing utilizes qubits that help in the storage and processing of a large amount of data exponentially fast with less energy consumption, unlike conventional computers that use bits for the same process.

TBRC’s blockchain services market report covers:

Major Market Players: IBM Corporation, Amazon.com, Microsoft Corporation, Oracle Corporation, SAP, Stratis, Baidu, Inc., Huawei Technologies Co. Ltd., Accenture, Deloitte, Infosys, Hewlett-Packard Enterprise, Waves Platform, HPE, AWS, KPMG, ConsenSys, Cognizant, NTT Data, Capgemini, Wipro, Mphasis, PwC, TCS, TO THE NEW, EY, L&T Infotech, Alibaba, OpenXcell, lntinfotech and Ardor Nxt Group.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Blockchain Services Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides blockchain services market overviews, analyzes and forecasts market size, share, blockchain services market players, blockchain services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s blockchain services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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