III. Industry Analysis
3.1 Market Size
The global market for enterprise blockchain technology sales will grow from $5.6 billion in 2020 to $13.8 billion in 2025, and the growth will occur over four phases1.
Growth will be escalated by large firms seeking to transform critical existing operations. Future high levels of growth will be sustained initially by large competitors catching up to rival businesses, broader use of blockchain by these large organizations, and the expansion of blockchain use into the small and medium enterprise market. As major vendors create their presence at the infrastructure layer and begin to bundle blockchain functionality into their product offerings, the revenue generated directly from infrastructure will continue to increase.
The North American blockchain technology market shall witness market growth of 49.8% CAGR during the forecast period (2021-2027)2. The existence of numerous significant players and the increasing investments in blockchain technology by businesses and governments in North America is anticipated to make it the biggest market for enterprise blockchain solutions.
3.2 Industry Profile
The exceptional traits of blockchain have been responsible for enhancing its growth over time. The IDC European Tech and Industry Pulse Survey, 2019-2020, indicates an unmatched growth in the adoption of blockchain and DLT technologies in different countries and industries. Blockchain is a vital requirement for businesses in modern times as they wouldn’t work in isolation.
The enterprise blockchain market is growing rapidly as more and more businesses recognize the potential benefits of blockchain technology, including increased transparency, efficiency, and cost savings. Some of the industries that are actively exploring enterprise blockchain solutions include finance, healthcare, supply chain management, and logistics.
2.https://www.marketresearch.com/Knowledge-Business-Value-KBV-Research-v4085/North-America-Blockchain-Technology-Type-14576120/
