Blockchain market size in India 2025-2033, Size, Share, Growth, and Report

As indicated in the latest market research report published by IMARC Group, titled " India Blockchain Market Size, Share, Trends and Forecast by Component, Provider, Type, Deployment Mode, Organization Size, Vertical, and Region, 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.

Market Size & Future Growth Potential:

The blockchain market size in India reached USD 656.99 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 61,532.00 Million by 2033, exhibiting a growth rate (CAGR) of 65.60% during 2025-2033.

India Blockchain Market Trends:

The market is experiencing unprecedented growth driven by the government's proactive digital transformation initiatives. The National Strategy on Blockchain, spearheaded by NITI Aayog, has positioned India as a global leader in blockchain adoption across public services. The introduction of the Vishvasya-Blockchain Technology Stack by the Ministry of Electronics and Information Technology (MeitY) is revolutionizing how blockchain services are delivered, offering Blockchain-as-a-Service with geographically distributed infrastructure.

Financial services remain the primary growth catalyst, with leading banks and fintech companies integrating blockchain for secure transactions, cross-border payments, and digital identity verification. The Open Network for Digital Commerce (ONDC) expansion to 616 cities demonstrates blockchain's role in creating inclusive digital marketplaces. Healthcare institutions are increasingly adopting blockchain for patient data security and medical supply chain transparency, while the real estate sector is witnessing innovative implementations like NFT-based land mutation systems covering 50,000 properties across 27,000 acres in West Bengal.

Market Scope and Growth Factors:

The Indian blockchain ecosystem is benefiting from substantial government backing through the Centre of Excellence in Blockchain Technology, which has accelerated enterprise adoption across various sectors. Small and medium enterprises are increasingly leveraging blockchain solutions through the MSME-TEAM Initiative, creating new opportunities for technology providers. The growing emphasis on data privacy and security compliance, combined with India's robust IT infrastructure and skilled workforce, continues to attract international blockchain companies to establish operations in the country.

The market is also witnessing significant investment in blockchain education and skill development, with technology hubs in Bengaluru, Hyderabad, and Pune emerging as centers of innovation. Corporate partnerships between traditional industries and blockchain startups are creating hybrid solutions that address specific market needs, particularly in agriculture, manufacturing, and logistics sectors.

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Market Scope and Growth Factors:

Comprehensive Market Report Highlights & Segmentation Analysis:

Segmentation by Component:

• Platform
• Services

Segmentation by Provider:

• Application Providers
• Middleware Providers
• Infrastructure Providers

Segmentation by Type:

• Public
• Private
• Hybrid

Segmentation by Application:

• Digital Identity
• Payments
• Smart Contracts
• Supply Chain Management
• Others

Segmentation by End Use Industry:

• BFSI
• Government
• Healthcare
• Retail and E-Commerce
• Real Estate
• Transportation and Logistics
• Energy and Utilities
• Others

Competitor Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Recent News and Developments:

• The Government of India launched the Vishvasya-Blockchain Technology Stack, providing enterprises with robust blockchain infrastructure and Blockchain-as-a-Service capabilities
• NITI Aayog released comprehensive blockchain strategy guidelines, establishing India as a preferred destination for blockchain innovation and development
• New Town Kolkata Development Authority successfully implemented 50,000 NFTs for land records management, covering one million property records across 27,000 acres
• The Open Network for Digital Commerce (ONDC) expanded blockchain integration to 616 cities, enabling seamless digital transactions for millions of small businesses
• Indian blockchain market participation in global summits increased significantly, with the India Blockchain Summit 2024 attracting government officials, industry leaders, and international investors
• Major Indian banks initiated blockchain pilot projects for cross-border payments and trade finance, reducing transaction costs by up to 30%
• Healthcare blockchain adoption accelerated with hospitals implementing blockchain for medical record security and pharmaceutical supply chain tracking
• The MSME-TEAM Initiative integrated blockchain solutions to support small business digital transformation, benefiting over 100,000 enterprises

Key highlights of the Report:

• Historical Market Performance
• Future Market Projections
• Impact of COVID-19 on Market Dynamics
• Industry Competitive Analysis (Porter's Five Forces)
• Market Dynamics and Growth Drivers
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Market Ecosystem and Value Creation Framework
• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.
• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.
• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

Why Choose IMARC Group:

• Extensive Industry Expertise
• Robust Research Methodology
• Insightful Data-Driven Analysis
• Precise Forecasting Capabilities
• Established Track Record of Success
• Reach with an Extensive Network
• Tailored Solutions to Meet Client Needs
• Commitment to Strong Client Relationships and Focus
• Timely Project Delivery
• Cost-Effective Service Options

Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.

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