Press Release

The UAE Blockchain Market to Flourish at a CAGR of Around 42% During 2025-30

The UAE Blockchain Market is anticipated to grow at a CAGR of about 42% during the forecast period of 2025-30, cites MarkNtel Advisors in the recent research report. The blockchain market of UAE is exhibiting rapid growth mainly pushed by the UAE government initiatives. The government strategies like the Emirates Blockchain Strategy 2021 and The Dubai Blockchain Strategy, have accelerated the expansion of the market. The UAE also announced a national blockchain strategy for the period from 2021 to 2031. These strategies aiming to convert 50% of government currencies to blockchain technologies also make Dubai the first fully powered blockchain platform. These strategies encourage local and foreign investors to invest in Blockchain-based startups. Additionally, digital transformations in the country escalate the demand for blockchain technology as it is safe, secure, and transparent. Several individuals and institutions are inclined to adopt cryptocurrency and decentralized finance (DeFi), thus creating the need for blockchain technology.

Moreover, various innovations in the BFSI sector like the adoption of decentralized finance (DeFi), digital payment, and smart contact are creating a lucrative growth opportunity. Banks & financial institutions and Fintech businesses are progressively promoting blockchain for safe payment, settlements, and trade finance. Blockchain facilitates Secure Transactions, Smart Contracts, and Digital Identity Verification using cryptographic techniques. Additionally, many other sectors like healthcare, Supply chain, and Real Estate, are also integrating blockchain into their operation. The implementation of blockchain in almost every sector is opening a growth opportunity for tech-based companies in the UAE Blockchain Market.

In addition, AI technology is also being used with blockchain to enhance cybersecurity. With constantly increasing cases of cybercrimes, frauds, and data theft, companies are looking for strong cybersecurity empowered by both AI and Blockchain. This will help in improving data integrity, protecting critical infrastructure, and fostering ethical AI usage as stated further in the research report, “The UAE Blockchain Market Analysis, 2025”.

Segmentation Analysis:

Cryptocurrency Holds the Largest Market Share

Based on the application, the UAE Blockchain Market is further bifurcated into, Smart Contracts, Cryptocurrencies, Decentralized Applications, Identity Management, the Internet of Things (IoT), and Others. Among these, cryptocurrency leads the market. With the increase in digitalization, individuals are getting inclined towards digital assets like cryptocurrencies i.e. Bitcoin and Ethereum. Nowadays, many institutions are adopting cryptocurrency in their compensation, and the UAE government has declared it legal. Also, increasing interest in decentralized finance (DeFi) platforms and the use of these currencies for cross-border transactions, further accelerate the demand for cryptocurrency.

BFSI Sector Dominates the UAE Blockchain Industry

Blockchain technology is widely preferred in the BFSI sector as the sector has been focusing on the elimination of intermediaries in the financial domain. Additionally, blockchain being decentralized and immutable, is perfect for usage in banks and other financial institutions. Integrating blockchain in the BFSI sector enhances efficiency, and traceability, and minimizes operation costs. Moreover, it is also increasing revenue, and reducing the risk of cybercrimes. Several banks have started using blockchain for KYC processes or in digital currency. For instance,

• Abu Dhabi Islamic Bank (ADIB), is the first Islamic bank to launch on the UAE KYC (Know Your Customer) Blockchain Platform.
• EmCash, a digital currency built on Blockchain technology, has also been launched in Dubai.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including OpenXcell, SoluLab, Cubix, Sfxdx, Quest GLT, Quytech, Digitalroar Softlabs, Apptunix, Web3soft, MixBytes, Aspired, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & solution adoption?
5. What key factors would propel and impede the industry across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?