According to a new report, published by KBV research, The Global Smart Contracts Market size is expected to reach $15.5 billion by 2030, rising at a market growth of 50% CAGR during the forecast period.
The Small & Medium Enterprises segment would witness a CAGR of 51.8% during (2023 - 2030). SMEs often need more resources and budgets. By eliminating the need for middlemen, automating procedures, and lowering related operating expenses, smart contracts provide an affordable alternative. The efficiency gains from using smart contracts can be particularly beneficial for SMEs looking to optimize resource utilization. These aspects will fuel the growth of the segment.
The Public segment register a strong potential in the Global Smart Contracts Market by Blockchain Type in 2022 thereby, achieving a market value of $8.8 Billion by 2030. Public blockchains run on decentralized networks of nodes, including Ethereum, Binance smart chain, and others. This decentralization enhances the trustlessness of smart contracts, as they can be executed without a central authority. Users can participate in transactions with a high level of confidence in the integrity of the smart contract execution. Owing to these factors, the segment will grow rapidly in the coming years.
The Cardano segment is anticipated to have a CAGR of 49.7% during (2023 - 2030). Forming partnerships with other blockchain projects, enterprises, and educational institutions. Collaborations can help expand the Cardano ecosystem and attract more developers to build on the platform. Moreover, emphasizing the security features of Cardano's blockchain and offering auditing services to ensure the integrity and safety of smart contracts. Security is a critical concern in the blockchain space, and providing a secure environment can attract developers and businesses. Therefore, these aspects will help expand the segment.
The Decentralized Autonomous Organizations (DAO) segment is leading the Global Market by Type in 2022 thereby, achieving a market value of $5.8 Billion by 2030. Continued advancements in blockchain technology, such as Ethereum and other smart contract platforms, have provided a solid foundation for the creation and execution of DAOs. The rise of tokenization has allowed for the creation of governance tokens within DAOs, providing members with voting rights and influence over decision-making processes. Therefore, these factors will lead to increased demand in the segment.
The Healthcare segment is experiencing a CAGR of 50.6% during (2023 - 2030). Interoperability challenges have long been a concern in healthcare, with disparate systems making seamless data sharing difficult. Smart contracts, especially those implemented on blockchain networks, can facilitate interoperability by creating a standardized, secure, and transparent framework for sharing medical records and other relevant information among healthcare providers and systems. These aspects will propel the expansion of the segment.
Full Report: https://www.kbvresearch.com/smart-contracts-market/
The North America region dominated the Global Smart Contracts Market by Region in 2022 thereby, achieving a market value of $5 Billion by 2030, growing at a CAGR of 49.2 % during the forecast period. The Europe region would witness a CAGR of 49.5% during (2023 - 2030). Additionally, The Asia Pacific region is experiencing a CAGR of 50.8% during (2023 - 2030).
By Enterprise Size
By Blockchain Type
By Platform
By Type
By End-Use
By Geography
Unique Offerings 
