Annual revenue for enterprise applications of blockchain to hit $19.9B by 2025 – Report
Research and Markets, one of the largest market research resource, has released a report on "Blockchain for Enterprise Applications" that examines market trends, technology issues, key use cases, and industry players in the rapidly evolving enterprise blockchain sector.
The report has identified 29 distinct use cases for enterprise blockchain that offers advantages in terms of cost savings, efficiency, security, and compliance, compared to traditional systems and business processes. The study involves granular market sizing and revenue forecasts for these 29 use cases, spanning 19 industries that are segmented by implementation category and world region, for the 10-year period from 2016 through 2025.
“This report forecasts that annual revenue for enterprise applications of blockchain will increase from approximately $2.5 billion worldwide in 2016 to $19.9 billion by 2025, representing a compound annual growth rate (CAGR) of 26.2%,” the report stated.
‘Blockchain for Enterprise Applications’ report also includes in-depth profiles of 22 key industry players in the blockchain industry including Abra, R3, Hyperledger Project, Digital Asset Holdings, Blockchain Technologies Corp, Chain, Ethereum, Gem, Everledger, Ripple, IBM, Factom, among others.
“Blockchain, a technology that began with Bitcoin, is enjoying a blossoming beyond cryptocurrency and the transfer of money, to an architecture able to support many types of transactions, from logging an event, to signing a document, to voting, to allocating energy between parties, and far beyond,” Jessica Groopman, principal analyst of the report stated. “Blockchain has the potential to impact a wide variety of industries, most notably finance, manufacturing, healthcare, energy, and insurance, among many others.”