Blockchain Market Estimated To Cross $28 Billion By 2025 | MobileAppDaily
Blockchain

Blockchain Market Estimated To Cross $28 Billion By 2025

The current valuation of the blockchain industry is stated to be around $385 million

https://dk2dyle8k4h9a.cloudfront.net/Blockchain Market Estimated To Cross $28 Billion By 2025

With many types of technologies like ‘Artificial Intelligence’ and ‘Machine Learning’ pouring in with time, Blockchain technology is right in the center of the horizon of silicon valley. According to a report compiled by Meticulous Research on the projected growth of the current blockchain market, by 2025, the blockchain market estimation is forecasted to grow at a compound annual growth rate (CAGR) of 74.1 percent, which will take the industry to $28 billion.

The current size of the technology market as concluded by the Meticulous Research stands to be $385.5 million. 

Blockchain Market

If we take cryptocurrency market capitalizations into consideration, the figure may not sound much interesting, but the estimated worth don’t include any individual cryptocurrency market caps.

As revealed in the report, the following factors will fuel the blockchain growth:

  • Rising rates of adoption of Blockchain-as-a-Service (BaaS),
  • Increased merchant acceptance of cryptocurrency
  • Heightened interest from traditional financial interests

Interestingly, the payments form the significant part of the technology and thus, the report stated that the banking and financial sector are the top leaders in accounting for the largest share of the total market. 

Conclusively, the finance-focused blockchain sector is anticipated to swell at a CAGR of 70 percent by 2025.

Blockchain Market by Application

The growth is complemented by factors like simplified financial transactions, increasing demand to counteract fraud, and the ever-growing interest of companies to adopt blockchain.

Regarding region, the Asia-Pacific blockchain market is speculated to grow at the fastest rate and the reason behind it is credited to the rapid adoption of blockchain technology in the financial and supply chain industries.

Currently, the leaders in the global blockchain market include Amazon (U.S.), IBM (U.S.), Microsoft (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Earthport (U.K.), among many others.

MAD Team
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MAD Team

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