Forecasts suggest that global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 39 billion U.S. dollars in size by 2025. The banking sector has been one of the quickest to invest in blockchain, with around 30 percent of the technology’s market value concentrated in this field.
How is blockchain used?
Given its nature as a tamper-evident distributed ledger, the technology offers many possible uses to business ventures spanning across different industries. As of 2018, the most common use cases for blockchain within organizations include secure information exchange. The technology has also proven itself to have great promise in the field of digital currency and payments, with the most successful cryptocurrencies in the world built using the platform and many businesses using some type of blockchain system for inter-company transactions.
Figures for years 2019 to 2022 are estimates based on a constant annual growth rate of 80.2 percent during the forecast period, as given by the source.
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MarketsandMarkets, & Statista. (May 13, 2020). Size of the blockchain technology market worldwide from 2018 to 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 28, 2022, from https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/
MarketsandMarkets, und Statista. "Size of the blockchain technology market worldwide from 2018 to 2025 (in billion U.S. dollars)." Chart. May 13, 2020. Statista. Accessed May 28, 2022. https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/
MarketsandMarkets, Statista. (2020). Size of the blockchain technology market worldwide from 2018 to 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 28, 2022. https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/
MarketsandMarkets, and Statista. "Size of The Blockchain Technology Market Worldwide from 2018 to 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 13 May 2020, https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/
MarketsandMarkets & Statista, Size of the blockchain technology market worldwide from 2018 to 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/ (last visited May 28, 2022)