Interest and investment in blockchain as an emerging technology is accelerating as firms seek secure, sequential, and immutable solutions to improve business processes, enable new services, and reduce service costs.
Worldwide spending on blockchain services
Given the maturity state of the technology, the hype surrounding potential applications, and the need for specialized skills, the majority of blockchain spending will be in the services market – both business and technology services.
A new forecast from IDC shows worldwide spending on blockchain services growing from $1.8 billion in 2018 to $8.1 billion in 2021, achieving a compound annual growth rate (CAGR) of 80%.
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