Altcoin News: IDC Study: In 2019, Investment in the Blockchain Industry Will Grow by 88.7%
March 7, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
International Data Corporation (IDC) has published a study on future investment in the blockchain industry (Worldwide Semiannual Blockchain Spending Guide).
According to published data, this year an increase in global investment in blockchain solutions to $2.9 billion is forecasted, which is 88.7% more than last year’s figure of $1.5 billion. IDC expects that investment in the blockchain industry will grow rapidly over the next 4 years and in the year 2022, the figure will reach $12.4 billion, which is slightly higher than the previous forecast made about six months ago. Then the IDC suggested that in 2022 the amount of investment will be $11.7 billion.
“Blockchain is maturing rapidly, and we have reached an inflection point where implementations are moving quickly beyond the pilot and proof of concept phase. That is why data on the actual spend on the technology is so vital: it provides the context in which blockchain is evolving. Understanding how and where enterprises are investing their money gives vendors a better sense of where they need to deliver products and services as well as offering technology buyers insight into how their peers are adopting blockchain. It also provides a snapshot of where we can expect to see this new technology disrupt the way enterprise software is delivered,” said James Wester, research director, Worldwide Blockchain Strategies.
IDC notes that mainly investments come from the financial sector. Analysts suggest that during the current year, banks, stock exchanges, investment, and insurance services will invest about $1.1 billion in blockchain solutions. In production, the figure will be $650 million, in the sale of goods — $640 million, and in cross-border payments — $738 million
The largest investment in the blockchain will be from the United States ($1.1 billion), Western Europe ($674 million) and China ($319 million). IDC also notes that this year will be a turning point for the industry, as previously developed projects will move into a phase of active implementation.
Recall that the auditing company KPMG recently published the results of a poll, according to which 48% of global leaders in the technology industry believe that in the next three years, the blockchain will “likely” or “very likely” change their business.
Author: Marko Vidrih
Image credit: idc.com