ResearchAndMarkets says the sector is forecast to expand at a 62.4% CAGR, with private blockchains leading 2026 share and South Korea projected as Asia Pacific's fastest-growing market.
The global blockchain market is projected to expand from USD 54.08 billion in 2026 to USD 610.96 billion by 2031, according to a ResearchAndMarkets report that forecasts a 62.4% compound annual growth rate over the period. The report ties that growth to rising demand for secure digital identity verification, privacy-preserving data sharing and regulatory-compliant authentication across financial services, healthcare, government and enterprises. It says organizations are adopting decentralized identity frameworks, verifiable credentials, self-sovereign identity, zero-knowledge proofs (privacy-preserving cryptographic method) and interoperable credential standards to cut fraud, streamline onboarding and support trusted digital interactions. Professional services are expected to post the fastest growth among service segments, while private blockchains are projected to hold the largest market share in 2026. In regional terms, South Korea is expected to be the fastest-growing blockchain market in Asia Pacific between 2026 and 2031, supported by government backing, digital payments adoption and advanced ICT infrastructure. The study also highlights drivers including real-world asset tokenization, Blockchain-as-a-Service (cloud-based blockchain tools), cloud deployment and demand for secure transactions, while citing fragmented regulation, scalability limits, security risks and talent shortages as constraints.