New research asserts that the enterprise blockchain market will grow to $ 21.07 billion by 2025.
According to a GlobeNewswire report on May 12. A new research from Fortune Business Insights, a company providing market research and consulting services, approximates the blockchain technology market will reach $ 21 Billion by 2025:
“The blockchain technology market size stood at USD 1.64 billion in 2017, and is projected to reach USD 21.07 billion by the end of 2025 […] exhibiting a CAGR of 38.4% during 2018-2025.”
The reason behind the development
The main reason for the growth of the global blockchain technology market is because more companies worldwide are increasing their investment in blockchain research and development from the inside.
The research also expects that the increasing interest of the public or government authorities to enhance research consent and product regulation in the market will also accelerate the development of the blockchain industry.
The company will generate the most revenue in the years ahead
Reports say IBM will be the dominant player in the enterprise blockchain field. Other key players include companies consist of Linux Foundation, Chain Inc., Oracle Corporation, Fintech & Blockchain Software House, Deloitte, Consensus Systems, Microsoft Corporation, Schvey, Inc., Altoros, Bits, Inc., Altoros, and VironIT.
The report inspected various global industries, including government, health care, and banking, financial services, and insurance, or BFSI. It indicates that:
“BFSI industry emerged as an early adopter of blockchain technology with the introduction of Bitcoin in 2009-10.”
Despite the current global recession and rising unemployment rates, blockchain jobs continue to grow due to the fast-growing industry.
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