Blockchain and Distributed Ledger Technologies on Bumpy but Sure Path to US$25 Billion Market by 2027

18 Oct 2023

The blockchain and distributed ledger technology (DLT) market continues upward despite continued volatility. ABI Research, a global technology intelligence firm, expects revenues to grow steadily to reach a market value of US$25 billion by 2027 as the worldwide slowdown drives operational efficiencies in the underlying technology. 

“Blockchain technologies continue to evolve in short two- or three-year cyclical patterns. New applications emerge quickly and furiously, reaching astronomical heights in a few months before crashing and burning completely. The 2021 NFT rise and subsequent 2022 downfall is but one example of the dizzying heights that blockchain hype can achieve. The much-hyped demand in industrial and supply chain applications has also simmered considerably, with many large projects and deployments cut. However, this fast succession of hyped bubbles reveals an underlying core infrastructure that hardens and improves after every burst,” explains Michela Menting, Senior Research Director at ABI Research.

The work on making blockchain and DLTs more energy efficient continues strongly, showing that the technologies can be more sustainable over time. Better consensus mechanisms, the switch from proof of work to proof of stake, and the emergence of green cryptocurrencies all contribute to making the technology better adapted to sustainability demands.

Beyond that, applications in specific sub-markets are maturing, especially in the financial and banking space. Digital financial assets (such as Central Banking Digital Currencies) and DLT implementations are maturing quickly to improve reconciliation, clearance, and settlements. Maturing regulatory frameworks are driving those applications forward, resulting in successful deployments across the sector.

“The overall blockchain market is still very nascent and fragmented, prone to extraordinary growth spurts in niche and select applications that escalate quickly and crash just as fast. But the core foundation that allows these applications to emerge in the first place continues to evolve slowly and will ultimately become an entrenched technology of modern ICTs,” Menting concludes.

These findings are from ABI Research’s Blockchain and Distributed Ledger Technologies and Industrial Blockchain and Distributed Ledger Technologies market data reports. These reports are part of the company’s Cybersecurity Applications and Industrial & Manufacturing Technologies research services, which include research, data, and ABI Insights. Market Data spreadsheets comprise deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research 是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit