A United States-based market research firm International Data Corporation (IDC) has recently published a report that forecast that overall spending on Blockchain Technology will reach $15.9 billion in 2023.
The report dubbed as IDC’s Worldwide Semiannual Blockchain Spending Guide provides an analysis on the spending information of the emerging technology from various perspectives.
The report expects an 80% increase of expenditures on blockchain in 2019 compared to 2018 with the banking industry getting a lion’s share of investment at 30% through the forecasted period.
20% of the will come from the discrete manufacturing and process manufacturing sector with the latter is expected to have the fastest spending growth of any industry, projected at 69.8% CAGR.
It was also revealed that blockchain spending will experience explosive growth across all analyzed regions with Canada having the highest CAGR at 73.3%
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