A new study from Fortune Business Insights, a company offering market studies and consulting services, has said that the enterprise blockchain markets will rise $21 Billion by 2025.
On May 12, the report by GlobeNewswire stated:
“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.”
According to the Fortune Business Insights report, the main reason for the growth of the global blockchain technology market is that more enterprises worldwide are increasing their investment in blockchain research and development from within.
However, the research also expects that rising interest from public or government authorities for growing research and regulatory approvals of products in the market will also stimulate the expansion of the blockchain industry.
The report says that IBM would be the dominant player in the enterprise blockchain field. Other key players also include companies such as:
- The Linux Foundation
- Chain Inc.
- Oracle Corporation
- Fintech & Blockchain Software House
- Consensus Systems
- Microsoft Corporation
- Schvey Inc.
- Bits Inc.
Also, the report examined various global industries, including government, healthcare, and banking, financial services, and insurance, or BFSI.
“BFSI industry emerged as an early adopter of blockchain technology with the introduction of Bitcoin in 2009-10.”
Thus, in spite of the current global market recession and increasing unemployment rates, many blockchain jobs continue to rise due to the booming industry.
Source: Cointelegraph | Image: The Economic Times
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