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Home Blockchain

Future of the Smart Contracts Market: Strategic Analysis and Forecast to 2034

July 31, 2025
in Blockchain, Decentralized Finance, Non-Fungible Token, OpenPR, Web3
Reading Time: 8 mins read
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Smart Contracts

Smart Contracts

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts

Smart Contracts Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market segment of smart contracts has seen a significant surge in size over recent years. The expansion is projected to go from $2.63 billion in 2024 to $3.21 billion in 2025, with a compound annual growth rate (CAGR) of 22.0%. The surge in the historic era has been driven by factors such as decentralised applications, heightened security issues, the emergence of initial coin offerings, requirements for regulatory compliance, and initiatives for interoperability.

Smart Contracts Market Size Forecast: What’s the Projected Valuation by 2029?
The market size for smart contracts is slated to witness significant expansion in the coming years, with an expectation of reaching $7.45 billion by 2029, growing at a compound annual growth rate (CAGR) of 23.4%. The anticipated growth during the forecast period can be ascribed to various factors such as cross-chain compatibility, the expansion of the NFT ecosystem, the influence of quantum computing, concerns regarding energy efficiency, the development of global standards, as well as the standardization of smart contract templates. The period is also expected to see major trends, including the integration of traditional legal systems, integration with decentralized finance (defi), the use of oracles for integrating real-world data, the incorporation of NFTs and smart contracts in the creative industry, and integration with the Internet of Things (IoT).

View the full report here:
https://www.thebusinessresearchcompany.com/report/smart-contracts-global-market-report

What Are the Drivers Transforming the Smart Contracts Market?
The anticipated digital transformation in the Banking, Financial Services, and Insurance (BFSI) sectors is predicted to stimulate the growth of the smart contract market. Digital transformation in BFSI involves incorporating digital technologies and methodologies to elevate customer interactions, optimize operations, and enhance the industry’s competitiveness. Digital transformation efforts in BFSI focus on process automation and streamlining, wherein smart contracts enable automation of executions based on preset conditions, leading to more effective transaction, claims, and settlement processing, reducing the need for paperwork and human interference. For example, as per a May 2023 report by Alkami Technology Inc., a US firm offering cloud-powered digital banking solutions, mid-scale banks and credit unions greatly escalated their digital transformation investments in the financial year 2022, hitting nearly $425,000 per $1 billion in assets, a substantial rise from $200,000 per $1 billion in assets in the financial year 2021. Besides, Peer-to-peer (P2P) payments saw an upsurge among digital banking consumers in 2022, increasing from 12% to 25%. Thus, digital transformation in the banking, financial services, and insurance sectors is predicted to fuel the growth of the smart contract market. Expansion of IoT devices in the market is serving as a major driver for the growth of the smart contracts market. IoT devices, characterized by a network of tangible items integrated with sensors, software, and additional technologies to gather and exchange data via the internet, have seen a surge in demand. Smart contracts have the capacity to verify and authenticate the data produced by IoT sensors, safeguarding its credibility and preventing any manipulations. As per an August 2022 report by GSMA Intelligence, a mobile communication association based in the UK, there will be an estimated 23.3 billion IoT connections by 2025, a notable increase from 15.1 billion in 2021. Therefore, the escalating demand for IoT devices is steering the growth of the smart contracts market.

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What Long-Term Trends Will Define the Future of the Smart Contracts Market?
Leading firms in the smart contract sector are concentrating on the creation of innovative self-service and serverless platforms like Chainlink Functions, aiming to offer reliable client support. Chainlink Functions is a cloud computing platform that is both serverless and self-service, enabling developers to develop and set up applications without having to oversee infrastructure. In March 2023, for example, Chainlink, a UK-based blockchain smart contract data provider, introduced Chainlink Functions, a self-service and serverless platform. This development assists creators to link their smart contracts and decentralized applications (dApps) with the Web 2.0 application programming interface. The novel platform enables developers to perform adjustable computations on Web 2.0 APIs through its network swiftly. It also facilitates the transition to the Web3 space for developers by supporting widely-known programming languages like JavaScript.

Which Segments in the Smart Contracts Market Offer the Most Profit Potential?
The smart contracts market covered in this report is segmented –

1) By Contract Type: Smart Legal Contracts, Decentralized Autonomous Organizations (DAO), Application Logic Contracts (ALC), Distributed Applications (DApps)
2) By Technology: Ethereum, Namecoin, Ripple, Rootstock (RSK), Other Technologies
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By End-Use: Banking, Financial Services, And Insurance (BFSI), Retail, Healthcare, Real Estate, Logistics, Other End Uses

Subsegments:
1) By Smart Legal Contracts: Standardized Legal Contracts, Customized Legal Contracts
2) By Decentralized Autonomous Organizations (DAO): Investment DAOs, Service DAOs, Grant DAOs
3) By Application Logic Contracts (ALC): Financial Contracts, Supply Chain Contracts, Insurance Contracts
4) By Distributed Applications (DApps): Gaming DApps, Finance DApps (DeFi), Social DApps

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=13194&type=smp

Which Firms Dominate the Smart Contracts Market by Market Share and Revenue in 2025?
Major companies operating in the smart contracts market report are Amazon.com Inc., International Business Machines Corporation, Oracle Corporation, Tata Consultancy Services Limited, Infosys Limited, ELEKS Ltd., Cygnet Infotech Pvt Ltd., ScienceSoft USA Corporation, R3 Corda, Dotsquares Ltd., Alchemy Insights Inc., Apriorit Inc., AVA Labs Inc., Quytech, ZirconTech LLC, SoluLab Inc., Innowise Group, Cubix, PrimaFelicitas Ltd., Sumatosoft, Infograins Software Solutions Pvt Ltd., Idealogic, Quant Network Limited, Monax Industries Ltd., Vention, Evercode Lab, EvaCodes, Second State Inc., Pragmatic DLT Inc., Labrys

Which Regions Offer the Highest Growth Potential in the Smart Contracts Market?
North America was the largest region in the smart contracts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart contracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13194

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3.Policy Makers & Regulators – To track industry developments and align regulatory frameworks.
4.Consultants & Analysts – To support market entry, expansion strategies, and client advisory work.”

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This release was published on openPR.

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