What are the Historical Developments and Current Growth Metrics of the Blockchain In Security Market?
The blockchain in security market has seen considerable growth due to a variety of factors.
• The blockchain in security market has expanded rapidly in recent years. It will rise from $2.07 billion in 2024 to $2.91 billion in 2025, at a CAGR of 40.7%.
This growth is due to higher venture capital and investment, greater government initiatives, increased awareness of blockchain's benefits, the rise of decentralized applications, and increased collaboration among financial institutions.
What Does Future Hold for The Blockchain In Security Market By 2029?
The blockchain in security market is expected to maintain its strong growth trajectory in upcoming years.
• The blockchain in security market is forecast to grow exponentially, reaching $11.26 billion by 2029, with a CAGR of 40.3%.
This growth is driven by the need to reduce troubleshooting, the rise of cryptocurrency and ICOs, the growth of the healthcare and education sectors, increasing digital transformation, and growing cybersecurity threats. Key trends include smart contracts for automated security protocols, IoT integration for device security, cybersecurity integration, privacy-enhancing technologies, multi-chain ecosystems, and quantum-safe cryptography.
What Are The Primary Growth Drivers In The Blockchain In Security Market?
Cybersecurity threats are expected to drive growth in the blockchain security market. These threats, which compromise the confidentiality and integrity of information systems, are increasing due to the proliferation of connected devices and evolving cybercriminal tactics. Blockchain's decentralized nature provides robust protection against such attacks, making it an attractive solution for securing sensitive data. The Australian Cyber Security Centre reported over 94,000 cybercrime incidents in 2022-2023, reflecting the growing need for cybersecurity solutions.
What Is The Segmentation Of The Global Blockchain In Security Market?
The blockchain in security market covered in this report is segmented –
1) By Component: Platform, Services
2) By Security Type: Private, Public, Hybrid
3) By Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Transportation And Logistics, Agriculture And Food, Manufacturing, Government, Information Technology And Telecom, Insurance, Retail, Other Applications
Subsegments:
1) By Platform: Blockchain-As-A-Service (BaaS), Distributed Ledger Technology (DLT) Platforms, Smart Contract Platforms, Identity Management Platforms, Cryptographic Platforms
2) By Services: Consulting Services, Integration And Implementation Services, Managed Services, Training And Support Services
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Which Emerging Market Trends Are Altering The Blockchain In Security Industry?
In the blockchain security market, companies are developing technologies to improve cybersecurity and prevent fraud. For instance, in May 2024, Baorui, a UK-based cryptocurrency trading platform, launched anti-scam technology that analyzes transactions in real-time to detect and prevent fraudulent activity. This technology ensures secure transactions on the platform by monitoring complex transaction patterns.
Who Are the Key Players In The Blockchain In Security Market?
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.
What Are The Regional Insights Into The Blockchain In Security Market?
North America was the largest region in the blockchain in security market in 2024. The regions covered in the blockchain in security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
