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Laxman Pai, Opalesque Asia: The blockchain market in the United States alone would surpass $41bn in the expenditure by the year 2025, said a market report.
A new report released by Research and Markets forecasts that blockchain spending in the U.S. will report a compound annual growth rate (CAGR) of 44.5%, rising from $3.1m to $41.1 m by 2025.
The report also reveals that during 2018, blockchain spending in the U.S. increased by 110 % and reached $1.6bn.
The company has studied over seventy areas in various markets divided into eleven industrial sectors of the United States, it said.
Meanwhile, another report released by International Data Corporation (IDC) earlier this month projects that global blockchain spending will see rapid growth between 2018 and 2022, with a five-year CAGR of 76%, amounting to $12.4 bn in 2022.
In geographic terms, the U.S. is set to see the largest blockchain spending of $1.1bn, followed by Western Europe and China, which are predicted to invest $674m and $319 m respectively.
Global blockchain spending will be led by the financial sector, where the banking, securities and investment services, and insurance industries will invest more than $1.1bn (combined in blockchain solutions this year.
Cross border payments & settlements and trade finance & post-trade/transaction settlements are the two blockchain use cases that will receive the most investment ($453m and $285m, respectively) in 2019.
The banking industry wil...................... To view our full article Click here
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