Blockchain Messaging Apps Market By Blockchain Application (Messages, and Payments), End-User (Business, and Individual), and Operating System (Android, iOS, and Others), and Region - Market Perspective, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast for 2023 - 2032

Market Perspective

The global Blockchain Messaging Apps Market size was worth around USD 21.49 billion in 2022 and is predicted to grow around USD 818.17 billion by 2032 with a compound annual growth rate of roughly 43.9% between 2023 and 2032.

Blockchain technology utilizes a distributed ledger that is at the core of a fundamentally decentralized structure of networks. The messaging applications use blockchain technology that is completely opposite to that of a centralized messaging application. This in turn reduces the risks of data breaches, and data security while increasing the time factor. Blockchain messaging apps are considered to be slower as it establishes communication between two or multiple users through autonomous network nodes. It in turn stabilizes the messengers.

This technology does not require a central server to receive and store the data between two or multiple users. The emergence of this technology is owing to increasing cyber threats, attacks, privacy concerns, and data security issues. This technology has been attracting attention in several sectors such as banking, professional consulting, and corporate structures. High penetration rates of smartphones, and IoT are amongst vital factors that would accelerate the demand for blockchain messaging apps. Cryptocurrency also has a major role in driving the market as transactions of cryptocurrency are largely incurred through blockchain technologies.

Asia Pacific, Europe, and North America are observed to be prominent regions that are substantially accruing revenues , attracting investments, and strategic collaborations between players and new entrants. However, differential laws and regulations or the absence of standardized regulations are among the few factors that may hinder the blockchain messaging apps market growth.

Key Insights

• Based on Blockchain application, the messages segment held the largest market share in 2022
• Based on end-user, the business segment dominated the market in 2022
• based on operating system, the android segment generated the highest revenue in 2022
• On the basis of region, North America accounted largest market share in 2022

Enhanced Security Due to the Decentralization of Messaging Apps to Propel Market Development

Blockchain technology processes messages by decentralizing, which offers added data security to its consumers. This feature provides enhanced messaging services to individuals and businesses as compared to traditional or centralized messaging applications. Technological developments in blockchain messaging apps are providing easy online payment solutions within the messenger. Reliable delivery of data or messages directly to end-user is a vital factor for the growth in demand for blockchain messaging applications.

Messaging applications using centralized technologies are observed to face difficulties such as networking issues, interruptions, maintenance of centralized servers to provide continuous portals, data security concerns, and others. These difficulties are avoided up to large extent in blockchain technologies as blockchain messaging apps use end-to-end encryption, does not require for the user to store any data over personal devices, thus reducing the risk from cyber criminals.

Expensive Operational and Maintenance Costs Associated with Blockchain Messaging Apps May Pose a Challenge

Development, deployment, and maintenance of blockchain messaging apps are observed to be expensive as compared to other messaging platforms owing to data security factors, efficiency, and integration of third-party API. In 2022, the cost of blockchain messaging applications ranged between USD 100,000 to USD 200,000 plus. This price average comprises new entry players and well-established players in the market. However, increasing competition, advancing technologies, and other factors may in turn reduce the costs associated. Smooth operations and maintenance of such applications require professionals with vast experience.

Recent Development

In November 2022 – Innovior, a company specializing in AI, automation, and consulting services was acquired by Probe CX. The aim of the acquisition was to transition efficient operations of Probe CX. Beepo is a part of Probe CX company.

In June 2022 – Decentralized Social (DeSo) a Blockchain company launched its blockchain messaging app. This messenger is a decentralized app with layer-1 blockchain technology.

Segmentation Analysis

Based on blockchain applications, the market is further categorized into messages and payments. In 2022, the message category held the majority share in terms of revenues and users. The majority of companies providing blockchain messaging apps worldwide are launching these applications designed to improve the security and privacy of the texts sent on messaging platforms. For instance, messaging apps such as Secretum, XMTP, 0xchat, Nansen connect, and Web3MQ are amongst Web3.0 messaging applications based on blockchain technologies that aim at enhancing data protection.

The payment category is estimated to show significant progress through the forecast period. Also, the introduction of direct online payments through blockchain messaging apps is observed to propel owing to the penetration of cryptocurrency in certain countries in the world. Other payment options are also included in these messaging applications.

Based on end-user, the market is further categorized into businesses and individuals. In 2022, the business sub-segment held the largest share in terms of revenues. Significant revenue from the business category of the end-user segment is attributable to smart services offered by key market players through blockchain messaging apps. Decentralized communication offers its user to communicate within highly private encryption and blockchain solutions, further adding privacy factors. Blockchain solutions for businesses offer enhanced security and data protection during communication.

These features are amongst the prominent factors gaining business users. Individual category of end-users is anticipated to grow substantially throughout the forecast period owing to the increasing adoption of smartphones and high level of internet penetration globally. In 2022, the total number of users of messenger apps surpassed 6 billion in the world. High competition among messenger companies has resulted in market players providing blockchain-inclusive messengers for enhanced privacy. For instance, Telegram has created its own blockchain-based application for its users to communicate and share data privately.

Based on the operating systems, the market is further categorized into Android, iOS, and other operating systems. Android system held the largest share in terms of users and revenues in 2022 with over 3.3 billion Android system users globally. Accessibility offered by Android systems for users as well as blockchain-based messaging app providers is significant as compared to iOS or other systems. Android systems provide feasible accessibility options for their users.

Regional Landscape

North America to Hold the Largest Market Share With Presence of Prominent Established Players 

In 2022, North America dominated the regional share in terms of revenues owing to the presence of well-established players such as Signal, and Dust amongst other operational players. The high penetration of IoT and ICT in the region is a vital factor for the exponential growth of the blockchain messaging apps market. North America has legalized and regulated policies for cryptocurrency that are majorly based on blockchain technologies, automation, and AI. Observation states that the U.S. has a high adoption rate of Blockchain technology and is thus a prominent country in the region.

Software developments in messaging apps have also resulted in the availability of multiple applications through a single messaging application. Strategic partnerships of blockchain technology or automation consulting companies along with high consumer demand and competition are estimated to further drive the market in the region. Through the forecast period, it is anticipated that the U.S. would attribute over 74% of the North American Market to blockchain messaging apps.

Asia Pacific to Observe Highest Growth Rate Due to Increasing Smart Technology Penetration

Asia Pacific is anticipated to grow exponentially in terms of revenues and consumer base owing to the increasing population and high penetration rate of smartphones and IoT. As reported by GSM, around 96% of the region’s population is covered by a mobile network. It is estimated to increase further owing to the deployment of 5G technology. The presence of prominent countries such as India, Japan, Australia, and China amongst others is propelling the market growth.

Southeast Asian countries such as Indonesia, Thailand, and Hong Kong are also observed to have exponentially growing  cryptocurrency transactions in the region. These consumer preferences and demands for new and smarter blockchain technology would drive the market in the upcoming years. China and Japan are developing centralized regulatory organizations to regulate crypto or digital currency. These factors have attracted key market players to the region. Blockchain solutions providing companies are providing further access to blockchain messaging to businesses and individuals.

Competitive Landscape

• Beepo LLC
• In the Chain
• RADICAL APP
• Sappchat
• Solana Foundation
• Signal
• Status Research & Development GmbH
• Telegram

The global blockchain messaging apps market is segmented as follows:

By Blockchain Application

• Messages
• Payments

By End-User

• Business
• Individual

By Operating System

• Android
• iOS
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America