Blockchain [New] Blockchain spending will continue to grow at a robust pace throughout the forecast period with a five-year compound annual growth rate of 46.4%, reaching a total of nearly $17.9 billion in 2024. [New] Worldwide spending on blockchain solutions is forecast to be $4.1 billion in 2020, an increase of more than 50% compared to 2019. [New] The blockchain technology is expected to be implemented by up to 10% of all companies in the food industry in the area of traceability by 2023. [New] The global blockchain technology in healthcare market is expected to grow from USD 50.6 million in 2020 to USD 850.1 million by 2025 at a CAGR of 65.3%. Despite a dip in 2020, the global blockchain market is expected to hit US$ 15.88 billion in 2023 despite retreating 7.27% to US$ 2.27 billion in 2020 - representing potential annual growth of over 91%. In 2018, the UAE launched its UAE Blockchain Strategy 2021 that aims to capitalise on blockchain technology to transform 50% of government transactions into the blockchain platform by 2021. Global Blockchain in Supply Chain Market is expected to Reach CAGR of 48.36% till 2027. Industry studies show the business value added from blockchain technology will grow to more than $3.1 trillion by 2030. Visa will create the digital currency on a centralized computer using blockchain technology. A global blockchain in the healthcare market is expected grow at a CAGR of 63.85% from 2018 to 2025, to reach a value of $5.61 billion by 2025. As worldwide spending on blockchain reaches $11.7 billion in 2022, the number of jobs created in the blockchain industry will reach an all-time high. North America is expected to dominate the blockchain in security market from 2018 to 2023 owing to strong foundation in finance and commerce that is witnessing rapid implementation of blockchain technology for financial transactions and data storage. Blockchain is anticipated to help authenticate over 5% of worldwide news and video content as real by 2023, with major news and domestic organizations leveraging blockchain technology to do so as early as next year. Beijing announced its plan to become a global hub for blockchain technology by 2022. Within Europe, Germany is forecast to grow at approximately 43.1% CAGR while Rest of European blockchain market will reach US$ 22.1 Billion by the year 2027. The move to digital payments and blockchain will spur a rebalancing of global economic power over the next five years. The global market for blockchain technologies in 2025 alone is estimated at approximately USD 40 billion. Europe is the largest countries of Blockchain Technology in Energy in the world in the past few years and it will keep increasing in the next few years. Global spending on AI will reach 57.6 billion dollars by 2020 and 51% of companies will embark on the transition to AI with blockchain integration. The global market for blockchain in security is estimated to grow at a notable rate during the forecast period from 2018 to 2023. Global Blockchain in Security market is expected to grow from USD 178.37 million in 2017 to USD 1572.46 million by 2023, at a CAGR of 43.73% during the forecast period. The use of blockchain technology in the pharma supply chain is expected to increase throughout the course of 2020. Worldwide spending on AI will reach $57.6 billion by 2020 and 51% of organizations will make the change to AI with blockchain integration. See full forecast Last updated: 20 September 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
