Blockchain Technology’s Projected Value Revised Downward
Recent market research forecasts a significant, though reduced, growth trajectory for blockchain technology. The projected market size for blockchain, specifically focusing on cloud applications within particular business segments, is expected to reach nearly $1,000 trillion U.S. dollars by 2032. This figure, however, represents a downward revision from earlier estimates.
This forecast excludes decentralized applications such as blockchain gaming. It’s important to note the scope, as the assessment focuses on blockchain’s application in cloud environments within specific sectors.
Previously, a June 2022 forecast projected that “blockchain technology” would reach $1,235 billion U.S. dollars by 2030, at a compound annual growth rate (CAGR) of 82.8 percent. The most recent forecast, published in December 2023, predicts a value of $943 billion U.S. dollars in 2032, with a reduced CAGR of 56.1 percent. The source does not provide an explicit explanation for this difference.
While the market is still expected to grow substantially, the revised figures indicate a more moderate pace of expansion than initially anticipated.
Blockchain technology cloud market size worldwide in 2021, with a forecast for 2030 (in billion U.S. dollars)
Characteristic Market size in billion U.S. dollars Data table requires a Statista Account for full access.
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