Today IDC published its latest blockchain spending forecast, estimating that 2021 spending will reach $6.6 billion, a 50% increase on last year. It expects to see a five year compound growth rate of 48% per annum which means nearly $19 billion is forecast for 2024 blockchain spending.
“This is an important time in the blockchain market as enterprises across markets and industries continue to increase their investment in the technology. The pandemic highlighted the need for more resilient, more transparent supply chains, healthcare delivery, financial services, and so much more, and enterprises around the world have been investing in blockchain to provide that resiliency and transparency,” said IDC’s James Wester.
“What is also very important right now is that we are seeing real interest and investment by corporations, financial institutions, and even governments in areas they previously viewed with some uncertainty such as cryptocurrencies, digital assets, central bank digital currencies, decentralized finance, and stablecoins. This investment will have major implications in a very short time on everything from retail to financial services to capital markets.”
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