Blockchain in Security Global Market Report 2024

The blockchain in security market size has grown exponentially in recent years. It will grow from $1.47 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 40.1%. The expansion during the historical period can be credited to a surge in venture capital and investment, heightened government initiatives, greater awareness of benefits, the emergence of decentralized applications, and enhanced collaboration among financial institutions.

The blockchain in security market size is expected to see exponential growth in the next few years. It will grow to $8.03 billion in 2028 at a compound annual growth rate (CAGR) of 40.1%. In the projected period, growth is expected due to a rising demand for streamlined troubleshooting, the increasing prevalence of cryptocurrency and Initial Coin Offerings (ICOs), expansion in the healthcare and educational sectors, the ongoing digital transformation, and the escalating threats in cybersecurity. Prominent trends anticipated in this period encompass the adoption of smart contracts for automated security protocols, the integration of Internet of Things (IoT) for securing devices, the incorporation of cybersecurity measures, the utilization of privacy-enhancing technology, the development of multi-chain ecosystems, and the implementation of quantum-safe cryptography.

The rise in cybersecurity threats is expected to drive the growth of the blockchain-in-security market. Cybersecurity threats encompass malicious activities aimed at compromising the confidentiality, integrity, or availability of information systems and data. Factors contributing to the increasing cybersecurity threats include the growing connectivity facilitated by more internet-connected devices, evolving tactics of cybercriminals, and widespread adoption of digital technologies lacking sufficient security measures. Blockchain's decentralized and immutable nature provides robust protection against malicious attacks, making it an attractive solution for safeguarding sensitive data and transactions across various industries. For example, the Department of Defence Australia reported in November 2023 that the Australian Cyber Security Centre received over 94,000 reports of cybercrime during the financial year 2022-2023, marking a 23 percent increase from the previous year.

Leading companies in the blockchain security market are focusing on developing innovative technologies, such as anti-scam technologies, to bolster cybersecurity measures and counter fraudulent activities. These technologies encompass a range of cryptographic techniques and decentralized consensus mechanisms designed to safeguard digital assets and transactions from unauthorized access, tampering, or manipulation. For instance, Baorui, a UK-based cryptocurrency trading platform, introduced blockchain anti-scam technology in May 2024. This advanced technology meticulously examines every transaction, detecting and preventing potential fraudulent activity by monitoring complex transaction patterns, ensuring the security of user transactions on the BAORUI platform.

In October 2023, Depository Trust and Clearing Corporation (DTCC), a US-based financial services company, acquired Securrency Inc. for $50 million. Through this acquisition, DTCC aims to enhance its blockchain technology and digital assets capabilities, potentially revolutionizing securities trading, settlement, and clearing within financial market infrastructure. Securrency Inc., based in the US, specializes in developing financial and regulatory technologies based on blockchain technology.

Major companies operating in the blockchain in security market are Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, Accenture PLC, IBM Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, Huawei Technologies Co Ltd., Infosys Technologies Private Limited, Horizen Labs Inc., SlowMist Technology Co Ltd., Bitfury Holding B.V., LeewayHertz Technologies Inc., Guardtime USA Inc., CertiK, Hacken OÜ, Ankr Network, OpenZeppelin, Trail of Bits Inc., ConsenSys Inc., BlockCypher Inc., Oasis Labs Inc., Securosys SA, Quantstamp Inc., Blockchain Foundry Inc.

North America was the largest region in the blockchain in security market in 2023. The regions covered in the blockchain in security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the blockchain in security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Blockchain technology is employed to bolster the security of data, transactions, and digital assets across diverse sectors, constituting blockchain in security. This strategy capitalizes on blockchain's immutable and decentralized characteristics to protect sensitive data and counter cybersecurity threats.

The primary constituents of the blockchain in security market encompass platforms and services. In this market segment, platforms denote the foundational technology or framework facilitating blockchain functions. Security classifications include private, public, and hybrid, catering to organizations of varying scales such as large enterprises and small to medium enterprises. These are deployed across a spectrum of applications, including transportation and logistics, agriculture and food, manufacturing, government, information technology and telecom, insurance, retail, and others.

The blockchain in security market research report is one of a series of new reports that provides blockchain in security market statistics, including blockchain in security industry global market size, regional shares, competitors with a blockchain in security market share, detailed blockchain in security market segments, market trends, and opportunities, and any further data you may need to thrive in the blockchain in security industry. This blockchain in security research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The blockchain in the security market includes revenues earned by entities by providing services such as identity verification, secure data storage, smart contracts, supply chain security, cybersecurity threat intelligence, and decentralized key management. The market value includes the value of related goods sold by the service provider or included within the service offering. The blockchain in the security market also consists of sales of secure transaction platforms, smart contract platforms, decentralized storage solutions, access control and authorization systems, and digital asset protection platforms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.