The net worth of the market share of blockchain messaging apps is predicted to grow from USD 45.92 billion in 2023 to over USD 1,700.31 billion by 2033. This is expected to further drive the market share and register a CAGR of 43.5% between 2023 and 2033.
Due to providing high security to users, blockchain messaging apps have no central server to store text messages or act as a relay between the sender and receiver. This prevents the interception or recording of messages. Blockchain messaging apps have grown in popularity due to decentralized end-to-end encryption technology.
For example, the Telegram messaging app, which uses blockchain technology, has over 500 million users and has become the go-to platform for secure messaging.
Traditional messaging apps have been facing privacy issues and security concerns due to increasing privacy concerns. When it comes to end-to-end or encryption in transit technology, service providers are involved in message delivery, while when it comes to blockchain messaging, no service provider is involved.
With blockchain technology gaining popularity across a wide range of industries, from banking to process manufacturing to professional services to retail, blockchain technology is likely to become increasingly incorporated into messaging applications in the near future.
As smartphone penetration increases and internet use increases, the number of users of online messaging platforms is expected to increase, thereby driving blockchain messaging apps market growth.
For example, Facebook's recently launched digital currency, Libra, is based on blockchain technology and is expected to be integrated into the company's messaging platforms, WhatsApp and Messenger. Furthermore, blockchains are expected to drive growth for the market during the forecast period due to their features, such as flexible crypto trading and tamper-proof data storage.
According to Business of Apps, a media and information brand for the app industry, in 2021, 3 million people are using messaging apps. Furthermore, well-known messaging applications, such as Telegram, are developing their own blockchain-based messaging applications, encouraging individuals to use these decentralized apps for enhanced privacy.
| Attributes | Details |
|---|---|
| Blockchain Messaging Apps Market Value (2023) | USD 45.92 billion |
| Blockchain Messaging Apps Market Expected Value (2033) | USD 1700.31 billion |
| Blockchain Messaging Apps Market Projected CAGR (2023 to 2033) | 43.5% |
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Driven by the growth of the global healthcare industry, the blockchain messaging apps market is anticipated to rise at 43.5% CAGR from 2023 to 2033, compared to the 42% CAGR registered from 2017 to 2022.
Due to their decentralized software structure, blockchain messengers are significantly reliable. Transaction processing is distributed between several nodes, so the network is not overloaded. Blockchain technology emphasizes protecting user privacy, since it doesn't rely on centralized servers.
Even if several nodes are hacked, the network won't be wiped out. Blockchain technology may also be secure, since it doesn't use centralized servers. There is no way to save user information or previous messages on corporate servers with blockchain messaging applications. Therefore, blockchain messaging applications are much safer and private than traditional messaging applications.
| Historical CAGR (2016 to 2022) | 42% |
|---|---|
| Historical Market Value (2022) | USD 32.5 billion |
| Forecast CAGR (2023 to 2033) | 43.5% |
Centralized Messaging Applications Lack Privacy-Protection Features
Messenger apps, such as WhatsApp and Facebook Messenger, are widely used messaging and communication tools on the market. There are several centralized messengers, all of which are organized similarly. In addition to owning the messengers, private firms also control the applications.
Businesses are responsible for handling user communications and data storage. Although some centralized messengers claim they do not keep messages on file, others make it quite clear that they do.
The Benefit of the Applications’ Decentralized Nature
The centralized nature of modern messaging applications opens up a wide range of technological problems. Apps like WhatsApp and Facebook Messenger are prone to frequent interruptions and network issues. As a result of the widespread use of a centralized operating system, catastrophic accidents often occur.
It is difficult to maintain the smooth operation of a system that has hundreds of millions of users. An app update, for example, can ruin a corporate messaging system. As the procedure is handled by a central data processing system, the entire network must be continually updated.
Advancement in Technology
Message applications have become more functional due to the development of operating systems and smartphones. Many blockchain messaging applications, like Signal, enable users to send cryptocurrencies to their contacts.
Innovations like this are expected to propel market growth. Furthermore, as the percentage of adult social media users in the USA has increased from 5% in 2005 to 79% in 2019, factors such as the growing number of social media users are also good news for the market's growth.
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The growing investments by venture capital firms in the market are further anticipated to offer new growth opportunities for the market. For instance, Minds Inc., a blockchain-based social network, announced in June 2021 that it had raised USD 10 million from the tech freedom organization Futo.
In order to provide control in the hands of users, Minds, Inc. planned to utilize funds for its mission of building one of the leading crypto social networks in the world. Moreover, partnerships and collaborations between the market players and technology companies are also positive indicators of the market's development.
Lack of Skilled Professionals Hinders Market Growth
There has been an increase in cyberattacks and threats among industries as a result of digital transformation. However, organizations do not have skilled professionals to cope with the risk factors. As a result, technologically advanced solutions are being adopted slowly and are expected to negatively impact the market for the next few years.
In addition, developing countries, such as India, Peru, and Mexico, lack awareness of the dangers associated with data protection. Consequently, the adoption of technology is likely to stagnate for a few years.
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Operating System Insights:
Based on operating system type, the Android segment has emerged as a leading contributor to growth. The segment is likely to account for over 40% of sales in 2023. A key reason for the growth of Android is its dominance in the mobile operating system world.
For example, according to Business of Apps, an app industry information and media brand, Android is the most popular operating system around the world. It has almost 2.5 million active users in 190 countries. As a result, market players launching blockchain messaging apps like Signal, Secretum, and others now support Android devices, making it possible for Android users to download and use those messaging apps. As a result, the segment's growth is expected to be fueled by the factors outlined above.
Application Insights:
The message segment is expected to surpass the share of over 75% in the year 2023. Blockchain messaging apps are becoming more prevalent across the globe as a way to enhance privacy and security when texts are exchanged.
Nansen, the blockchain analytics platform based in Singapore, announced in June 2022 that it would launch Nansen Connect, a messaging app that runs on Web3. The app includes end-to-end encryption based on blockchain technology for one-to-one messaging
It is expected that the payment segment is likely to grow significantly during the forecast period, due to the increasing popularity of cryptocurrency worldwide. By 2022, TripleA estimates that there are 320 million crypto users worldwide. Furthermore, the increasing launch of payment features in blockchain-based messaging apps should also contribute to the growth of the segment.
Regional Insights:
In 2023, North America is expected to dominate the market, capturing over 28.0% of global revenues. This growth is attributed to prominent market players, such as Dust and Signal, among others. A number of factors contribute to the growth of the market in the region. This includes the legalization of cryptocurrency and the high adoption of blockchain technology.
In addition, market players are increasingly launching apps and partnering with technology companies, which continue to drive regional growth.
North America is predicted to remain one of the most attractive markets during the forecast period. According to the study, the United States is expected to account for over 74.5% of the North American market through 2033. As a result of increasing interest in blockchain, multiple blockchain development efforts have been launched in the United States in the last few years.
While rivals actively incorporate blockchain, data, and the information ecosystem now, the United States government views blockchain as a "technology of the future". Internet subscription rates were higher among families with greater incomes and households with more education. As a result, blockchain-based applications are becoming popular in the area.
The demand for blockchain messaging apps in the United Kingdom is expected to rise at nearly 35.2% CAGR over the forecast period. The blockchain messaging apps market in the country is evolving steadily as a result of factors. The presence of key market companies is credited with the region's development.
Furthermore, the legalization of cryptocurrencies and the widespread use of blockchain technology bode well for the future of the sector. During the forecast period, market participants are expected to introduce new applications and collaborate with tech firms, which increases regionally.
India is forecast to hold a significant share of the market during the forecast period. This is due to the growing population and increasing smartphone and internet penetration across the countries. This is expected to drive the growth of the regional blockchain messaging apps market.
For example, the Indian government is actively investing in blockchain technology for the development of its digital economy, which is driving the growth of the blockchain messaging apps market in India. Moreover, market players such as Signal have launched applications and provided blockchain messaging apps to individuals within the region.
Despite fierce competition in the blockchain messaging apps market, manufacturers are constantly upgrading their products and coming up with new features to differentiate their products from others. Aside from that, start-ups and companies participate in fundraising activities in order to expand their capacities.
In order to meet the demands of customers and organizations, players are developing a wide variety of distributed ledger solutions. Introducing innovative solutions helps players maintain their competitive edge. Also, an existing product portfolio can be upgraded and expanded to improve a vendor's market position.
Digital ledgers are being advanced by market players to address security issues faced by small and medium-sized businesses. This also gives businesses access to real-time data. It was announced, in April 2021, that Social Technologies LLC was launching the first phase of its decentralized social networking protocol. This was intended to give the users ownership and control over global social networks.
Some of the prominent players in the blockchain messaging apps market are as follows:
Recent Development:
Companies operating in the blockchain messaging apps market are aiming for expansions and strategic partnerships with other manufacturers to expand their product manufacturing capabilities, portfolios, and global presence.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Germany, UK, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Operating System, Application, End-user, Region |
| Key Companies Profiled | CYBER DUST; Status; Crypviser; Sappchat.com; Signal; Solana Foundation; Crypto-Chat; Telegram; Beepo LLC; CryptoDATA; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 45.92 billion in 2023.
The growth potential of the blockchain messaging apps market is 43.5% CAGR through 2033.
The market recorded a CAGR of 42% in 2022.
Surge in privacy concerns and security is dictating the market growth.
Surging investments by venture capital firms are expected to enhance the market scope.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operating System 5.1. Android 5.2. iOS 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Message 6.2. Payment 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user 7.1. Individual 7.2. Business 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. Middle East & Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Crypviser GmbH 18.2. Beepo, Inc. 18.3. CryptoDATA 18.4. Radical App LLC 18.5. Wickr Me 18.6. Solana Foundation 18.7. Sappchat.com 18.8. Telegram 18.9. Crypto-Chat 18.10. CYBER DUST 19. Assumptions & Acronyms Used 20. Research Methodology
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Blockchain Messaging Apps Market
