Blockchain Services 2023–2024 Market Insights™

December, 2023


Report Summary

This report identifies key demand-side trends in the blockchain space, helping enterprises fine-tune their blockchain strategy. It consists of key technology and blockchain services-related trends, insights, and enterprise challenges in this space based on Avasant’s assessment. 

Why read this Market Insights?

Over the past two years, the number of productionstage projects in blockchain services has risen due to increased enterprise spending led by financial services. This shift signifies a pivotal moment in blockchain’s journey toward enterprise adoption. Organizations are harnessing the power of blockchain to enhance outcomes in newer areas such as DeFi (for example, asset tokenization and CBDCs), and ESG (for example, blockchain-based green bonds to fund sustainability projects). However, challenges exist around implementation, scalability, and regulations that continue to evolve. The Blockchain Services 20232024 Market Insights™ aids enterprises in identifying important market trends and provides insights into the blockchain space. 


The industry insights and recommendations presented are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with service providers, subject matter experts, and Avasant fellows, along with lessons learned from consulting engagements. 

Table of contents

About the report (Page 3)

Executive summary (Pages 4–7)

    • Defining blockchain services 
    • Key enterprise blockchain trends shaping the market 
    • Avasant recognizes 23 top-tier providers offering blockchain services

Demand-side trends (Pages 815)

    • Adoption of blockchain services rises rapidly; financial services remain at the forefront of the industry. 
    • Enterprise blockchain investments have increased, ensuring successful POC-to-production transitions led by financial services. 
    • Organizations are advancing DeFi asset tokenization pilots; however, challenges persist, hindering mass adoption. 
    • Blockchain technology integration presents a significant opportunity to empower ESG initiatives. 
    • Organizations must adapt to the evolving regulatory landscape to tap into new blockchain opportunities.

Key contacts (Page 16)

Read the Research Byte based on this report. 

Please refer to Avasant’s Blockchain Services 2023–2024 RadarView™ for detailed insights on service providers and supply-side trends.