Managed Blockchain Services Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Market Overview

The Managed Blockchain Services Market is projected to grow from USD 2,222.60 million in 2024 to USD 5,622.11 million by 2032, at a compound annual growth rate (CAGR) of 12.3%.

This growth is fueled by the increasing adoption of blockchain technology across industries such as finance, healthcare, supply chain, and retail. Organizations are seeking secure and transparent solutions for data management and transaction processing. The rising demand for decentralized applications (DApps) and smart contracts to streamline operations and reduce operational costs further propels market growth. Many businesses prefer managed services to leverage blockchain without needing in-house expertise, reducing complexity and infrastructure costs. Key trends influencing the market include the integration of blockchain with IoT, artificial intelligence (AI), and cloud computing to enhance scalability and functionality. Governments and enterprises are heavily investing in blockchain to improve regulatory compliance and data security, driving demand for tailored managed solutions. Additionally, innovations in interoperable and customizable blockchain frameworks are enabling organizations to tailor the technology to their unique needs, further fueling adoption.

Market Drivers

Rising Demand for Decentralized Applications (DApps)

The increasing use of decentralized applications (DApps) and smart contracts is a significant factor driving the market. Businesses are utilizing these technologies to automate workflows, eliminate intermediaries, and reduce operational costs. Ethereum, for example, is widely used for developing DApps and smart contracts. Managed blockchain services simplify the deployment and maintenance of DApps, allowing organizations to focus on innovation rather than handling complex blockchain infrastructure. This trend is expected to expand as more industries recognize the benefits of decentralized operations and seek ways to optimize their processes.

Market Challenges

Complex Implementation and Integration Issues

Implementing and integrating blockchain technology presents significant challenges in the managed blockchain services market. Many organizations face difficulties when attempting to integrate blockchain solutions with their existing IT infrastructure, as legacy systems often lack compatibility with blockchain frameworks. This often requires significant customization and investment in new technologies. Additionally, businesses struggle to align blockchain solutions with their operational workflows, which can delay adoption and reduce overall efficiency. Managed service providers must address these challenges by offering flexible, interoperable solutions that minimize disruption and ensure seamless integration. Furthermore, the limited availability of skilled blockchain professionals exacerbates these challenges. The shortage of talent increases reliance on external service providers, driving up costs and complicating implementation processes. Many organizations are hesitant to adopt blockchain due to concerns about high upfront costs, lengthy deployment timelines, and uncertain returns on investment. Overcoming these barriers requires managed service providers to offer cost-effective, tailored solutions with clear value propositions to ease adoption.

Market Segmentation

By Offering

Tools

Services

By Application

Supply Chain Management

Smart Contracts

Identity Management

Payments

Governance, Risk, and Compliance Management

Others (Trade Finance, Data Storage)

By Organization Size

SMEs

Large Enterprises

By Vertical

BFSI (Banking, Financial Services, and Insurance)

FMCG (Fast-Moving Consumer Goods)

Healthcare

Manufacturing

Retail and eCommerce

Transportation and Logistics

Government and Public Sector

Energy and Utilities

Media and Entertainment

Others (Telecom and IT, Hospitality, Real Estate, Agriculture)

By Geography

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Southeast Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

Key Players

Microsoft (US)

SAP (Germany)

Infosys (India)

AWS (US)

Huawei (China)

Wipro (India)

IBM (US)

Accenture (Dublin)

Oracle (US)

HPE (US)