Blockchain Market Size, Share, Trends, Analysis Report By Application (supply Chain Management,
January 17, 2023 ⚊ 1 Min read ⚊ Views 68 ⚊ TECHNOLOGY
According to GlobalData estimates, the blockchain market will grow from US$6.1 billion in 2021 to US$508.1 billion in 2030 at a CAGR of 62.4%. Blockchain as a service, acceptance of cryptocurrency, cost and timesaving, and acceptance in retail are the major blockchain market drivers. BaaS vendors integrate blockchain into core technologies, which helps further blockchain adoption by easing operational requirements, and allowing customers to access blockchain-based technologies without investing in in-house development. This is particularly appealing for SMEs. In addition, for every dollar spent directly on technology and services, much more will be spent on the transformation element of blockchain projects. This is why blockchain is so attractive to larger technology vendors and systems integrators. Companies such as IBM and Accenture see blockchain as a powerful catalyst to engage with clients around the bigger, more complex (and ultimately more lucrative)
