PUBLISHER: The Business Research Company | PRODUCT CODE: 1681971
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681971
Blockchain interoperability refers to the capability of various blockchain networks to communicate, exchange data, and conduct transactions seamlessly with each other. It enables disparate blockchain platforms to interact and share information assets or execute smart contracts across different networks. This interoperability facilitates the integration and collaboration of multiple blockchain systems, enabling more efficient and interconnected decentralized applications and ecosystems.
The several types of solutions encompass cross-chain bridges, cross-chain APIs, federated or consortium blockchains, and other methodologies. Cross-chain bridges serve as conduits for transferring assets or data across disparate blockchain networks, facilitating seamless interoperability. Their applications span various sectors such as digital assets, NFTs, DApps, cross-chain trading, and data sharing in BFSI, healthcare, gaming, IT, telecommunications, agriculture, and other industries.
The blockchain interoperability market research report is one of a series of new reports from The Business Research Company that provides blockchain interoperability market statistics, including blockchain interoperability industry global market size, regional shares, competitors with a blockchain interoperability market share, detailed blockchain interoperability market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain interoperability industry. This blockchain interoperability market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blockchain interoperability market size has grown exponentially in recent years. It will grow from $0.7 billion in 2024 to $0.91 billion in 2025 at a compound annual growth rate (CAGR) of 29.7%. The growth in the historic period can be attributed to rising developments in decentralized application, efficiency of blockchain technology, regulatory compliance and standards, surge in IoT connected devices, the rising demand for streamlined data exchange.
The blockchain interoperability market size is expected to see exponential growth in the next few years. It will grow to $2.55 billion in 2029 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to growing demand for cross-chain asset transfers, rise in decentralized finance (DeFi), increasing cross-border transactions, rising multi-blockchain use cases. Major trends in the forecast period include development of blockchain interoperability technology, investments in blockchain technology, implementing blockchain-enabled innovations, increasing use of blockchain-based payment, increasing advancements in decentralized application.
The increasing demand for cross-chain asset transfers is expected to drive the growth of the blockchain interoperability market in the future. Cross-chain asset transfers involve the movement of digital assets, such as cryptocurrencies or tokens, between different blockchain networks. This demand is rising due to the need for greater access to a variety of assets and enhanced liquidity across multiple blockchain platforms, which in turn promotes greater flexibility and efficiency in decentralized finance (DeFi) and other blockchain-based applications. Blockchain interoperability facilitates these cross-chain asset transfers, allowing seamless movement of digital assets across different networks, ensuring decentralized exchange, and improving the overall functionality of the cryptocurrency ecosystem. For example, a study by Conestoga College, a Canada-based Institute of Technology and Advanced Learning, found that in February 2023, 67% of survey respondents were somewhat or very familiar with blockchain technology, a significant increase from 11% in 2021. As a result, the growing demand for cross-chain asset transfers is accelerating the development of the blockchain interoperability market.
Key companies are innovating bridgeless technology solutions such as HyperNova to facilitate secure blockchain interoperability. For instance, HyperNova, developed by Supra in August 2023, enables direct cross-chain communication via L1 consensus, eliminating the reliance on centralized bridges. This approach enhances security, scalability, and cross-chain capabilities in DeFi, gaming, and oracles. Leveraging Moonshot Consensus, a low-latency consensus algorithm, HyperNova ensures reliable cross-chain communication, catering to the evolving needs of the blockchain ecosystem.
In March 2023, Coinbase, a US-based cryptocurrency exchange platform, acquired One River Digital Asset Management for an undisclosed amount. The acquisition is designed to strengthen Coinbase's institutional blockchain services and support its objective of developing seamless blockchain interoperability solutions. One River Digital Asset Management (ORDAM) is a US-based firm specializing in digital asset management.
Major companies operating in the blockchain interoperability market are Microsoft Corporation, Sony Corporation, Accenture plc, Oracle Corporation, Fujitsu Limited, SAP SE, Nvidia Corporation, WPP plc, Autodesk Inc., Unity Software Inc., GAVS Technologies, Kellton Tech Solutions Ltd., R3, LeewayHertz Inc., Ontology, Inery Pte. Ltd., Aetsoft Inc., Biconomy, Fusion Foundation Inc., Hiro Systems PBC, LI.FI, ORB Labs, SmartMedia Technologies Inc., Chainport, Datachain Inc., Liquid Apps, Polyhedra Network, Quant Network Limited, RioDeFi
North America was the largest region in the blockchain interoperability market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain interoperability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the blockchain interoperability market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The blockchain interoperability market consists of revenues earned by entities by providing services such as cross-chain token swaps, cross-chain data oracles, blockchain interoperability platforms and cross-chain asset transfer services. The market value includes the value of related goods sold by the service provider or included within the service offering. The blockchain interoperability market also includes sales of nodes, gateways and interoperability bridges. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Blockchain Interoperability Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blockchain interoperability market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blockchain interoperability ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The blockchain interoperability market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.