According to the forecast of International Data Corporation (IDC), worldwide spending on solutions in the field of blockchain technology in 2022 will reach $11.7 billion
In their study, the Worldwide Blockchain Expending Semnnual Guide the company forecasts that the global costs of the blockchain in the next five years (2018-2022). will grow with average annual rate of 73.2%. IDC expects that this year they will reach $1.5 billion, which is twice exceeds that of 2017.
The largest investment in this area of technology, as IDC expects will be made in the USA, whose share in the global expenditure for five years will be 36%. Western Europe and China will be the second and third largest beneficiary in the blockchain industry. The most rapid average annual growth of investment in blockchain solutions, IDC forecasts in Japan and Canada — 108,7% and 86.7%, respectively.
The most significant part of the investments in the blockchain around the world will come in the financial sector — it is expected that in 2018 they will reach $552 million While the average annual increase in these expenses in the next five years will be in the banking sector to 74.7 percent, whereas in manufacturing and mining will reach 78.8%, while in the services sector, 77.7% of the. But the base for growth in these sectors is much lower — $334 million and $379 million in 2018 respectively.
As noted in the IDC survey, in the financial sector the main areas of application of blockchain technology will become cross-border payments and transfers, storage and tracking of assets, trade Finance and postcolony service. In the sector of distribution and services, manufacturing and mining leading examples of the use of the blockchain will control the goods/assets and traceability.
According to IDC, in 2018, investment in blockchain solutions for cross-border payments will become the most powerful — $193 million For them — traceability and supply chain products ($160 million) and trade Finance ($148 million).
According to the research company, these three areas will remain the leaders in investment and in 2022.
“We continue to see the biggest spending and growth for the blockade around the origin of the party and the management of assets and goods. Too visible scandals in conjunction with complex supply chains and incomplete information preparing the ground for investments and projects in these areas,” said Vice President of IDC’s analysis Goppert Jessica (Jessica Goepfert).