Introduction

The Blockchain in ICT Market is rapidly transforming the way data is stored, tracked, and shared across communication networks. With its decentralized and tamper-resistant nature, blockchain is being deployed in areas like fraud prevention, supply chain optimization, identity verification, and secure 5G infrastructure. Interestingly, more than 30% of ICT enterprises worldwide are expected to adopt blockchain-based systems by 2024. What’s driving this shift? A surge in cyberattacks, data breaches, and IoT proliferation, all demanding transparent, secure, and scalable solutions.

As blockchain converges with AI, machine learning, and edge computing, can we imagine ICT networks that are not only faster but also virtually immune to fraud?

Key Players

The market is fuelled by global tech giants such as IBM (IBM Blockchain), Microsoft (Azure Blockchain Service), Oracle, Amazon Web Services (Amazon Managed Blockchain), SAP, and Intel. Emerging leaders like Ripple, Hyperledger, VeChain, and Chainalysis are pushing blockchain adoption across industries ranging from finance to telecom. For instance, Hyperledger Fabric 3.0, launched in 2024, enhances privacy and scalability for enterprise clients.

With so many innovators in the field, which platform will become the gold standard for ICT blockchain adoption—the enterprise-focused solutions from IBM and Microsoft, or the decentralized ecosystems of Ripple and VeChain?

Segmentation

By component, platforms dominate, offering the backbone for decentralized applications and smart contracts. Meanwhile, the services segment is projected to grow fastest as businesses demand consulting, customization, and post-deployment support. In terms of enterprise size, large corporations currently lead adoption, but SMEs are catching up quickly thanks to affordable Blockchain-as-a-Service (BaaS) models. Regionally, North America dominates, but Asia-Pacific is the fastest-growing, fuelled by rapid digital transformation in China, India, and South Korea.

The question is—will SMEs and APAC’s fast-paced digital economies tilt the balance of global blockchain leadership in the ICT sector?

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