Industry Overview
The Global Blockchain Government Market is projected to reach USD 110.4 billion by 2030, from USD 9.2 registering a CAGR of 76% during the forecast period (2025 - 2030).
Increasing adoption of blockchain from the government sector, and growing cases of fraudulent activities in the public sector, is propelling the growth of the market. Demand from banking retail and supply chain market is growing which is indirectly playing an important role in the growthrate of the blockchain market.
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Market Segmentation
Insight by Provider
On the basis of provider, the global blockchain government market is categorized into middleware provider, application provider, and infrastructure provider, wherein the application provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed to the increasing adoption of technologically advanced blockchain solutions in government agencies.
Insight by Application
Based on application, the blockchain government market is segmented into asset registry (land/real estate registry), identity management, payments, smart contracts, elections/voting, and others (healthcare, public transport, and supply chain & logistics). Among all these segments, the smart contracts category contributes the largest revenue globally, owing to the increase in the deployment of blockchain-based smart contracts to reduce costs of verification, execution, arbitration, and fraud prevention by government agencies.
Global Blockchain Government Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 9.2 Billion
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Revenue Forecast in 2030
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U.S.D. 110.4 Billion
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Growth Rate
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76%
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Segments Covered in the Report
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By Provider and By Application
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Growth Drivers
The global blockchain market has been driven by several key factors, including increasing adoption of blockchain from the government sector, growing cases of fraudulent activities in the public sector, increasing need to provide protection against data tempering, rise in the usage of blockchain technology to create a transparent and decentralized government, and increasing demand for high efficiency and high speed in government sector. Blockchain technology provides a transparent and immutable record of transactions, which can help prevent fraud, corruption, and manipulation. Citizens can have greater trust in government processes when they can verify the authenticity and integrity of public records. This technology offers a high level of resilience against hacking and unauthorized access. By decentralizing data storage and using consensus mechanisms, blockchain reduces the vulnerability of government systems to cyber attacks. It eliminates the need for manual paperwork and reduces administrative burdens, resulting in cost savings and improved efficiency. It enhances citizen services by providing secure and convenient access to government records and services.
Restraints
Lack of resulting uncertainties, limited availability of technical skillset and regulations are the major factors hampering the adoption of blockchain in various verticles. Another restraining factor is the regulatory acceptance. The regulatory status of the blockchain technology remains uncertain, due to issues like standardisation and interaction.
Geography Insight
Geographically, North America has accounted for the largest share in the blockchain government market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed to the existence of a large number of players of blockchain technology in the region and also it is considered the most advanced region in terms of advanced technology adoption. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to the huge investment undertaken by the government towards the development of blockchain technology to change the business processes in the government sector.
Key Players Covered in the Report
Some of the key players operating in the global blockchain government market are IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Infosys Limited, Accenture plc, Intel Corporation, BigchainDB Gmbh, Ethereum Foundation, Earthport PLC, Factom, BTL Group Ltd., Humaniq, Tierion, BlockCypher Inc., AlphaPoint, and Bitfury Group Limited.
Recent developments by Key Players
Lately, NITI Aayog shall use Oracle's blockchain technology to bring more transparency in pharmaceutical industry to verfy the genuineness of medicines.
The Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship (MSDE), has partnered with Amazon India’s cloud services wing of Amazon Web Services (AWS) India to upskill students in cloud computing, data annotation, artificial intelligence (AI), and machine learning (ML), to boost their capabilities and employability. Students enrolled in the institutions under the DGT will benefit under the tie-up.
The global Blockchain Government Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Provider
- Middleware Provider
- Application Provider
- Infrastructure Provider
- By Application
- Asset Registry
- Identity Management
- Payments
- Smart Contracts
- Voting
- Others
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
.png "Blockchain Government Market Analysis")
Source: VynZ Research
