Blockchain is a powerful aspect of the digitally shifting world that is more than simply the well-known technology underlying Bitcoin. Blockchain, a one-of-a-kind technology meant to restore transparency to online transactions and ownership, transformed the world forever when it was presented as the foundation for cryptocurrencies.
Blockchain, which is capable of revolutionizing everything from digital identification to finance, is having an ever-increasing influence on how we live and work. Many individuals feel that this technology will be crucial to notions such as the metaverse and web 3.0.
To assist you to comprehend the significance of this wonderful technology, we’ll present a list of blockchain statistics you should know in 2022.
Key Blockchain Statistics
- The global blockchain market will be worth $1,431.54 billion by 2030, growing at a CAGR of approximately 85.9% between 2022 and 2030.
- Blockchain could boost global GDP by $1.76 trillion by 2030.
- 96% of financial service experts believe blockchain has achieved mainstream adoption.
- Blockchain in manufacturing is growing at a rate of 73%, between the years of 2022 and 2026.
- Provenance is the number one factor driving the adoption of blockchain.
- 52% of experts believe blockchain will be essential to verifying customer identity in the future.
Blockchain Statistics: General Market Statistics
1. The global blockchain market will reach $67.4 billion by 2026
According to Markets and Markets’ estimate of the Blockchain market in 2021, the sector is expected to increase from $4.9 billion in 2021 to $67.4 billion in 2026. This corresponds to a Compound Annual Growth Rate of 68.4 percent for the projection period, according to the analytical team.
According to Markets & Markets, the primary driving reasons leading to blockchain’s quick growth rate include increased venture capital financing and widespread application of the solution in banking and security. Blockchain technologies are rapidly being used by businesses and individuals to handle digital identities and smart contracts.
2. Worldwide spending on blockchain solutions hit $6.6 billion in 2021
Global spending on blockchain solutions increased from 4.5 billion to 6.6 billion in 2021, according to research provided by Statista Research Department. Increasing demand for security with digital identities and Web 3.0 is expected to drive demand for blockchain in the coming years.
Blockchain expenditure is expected to reach $19 billion by 2024, as more companies use the technology for data validation, data access, and identity protection methods.
3. Blockchain will grow at a rate of 85.9% from 2022 to 2030
According to a survey conducted by TripleA and Grandview Research, more than 300 million individuals owned or utilized a cryptocurrency in 2021, implying that they interacted with a blockchain element. The market for blockchain, according to Grandview Research, is far greater than many experts imagine.
The usage of contactless blockchain tickets at different events, as well as increased digitalization across the BPFSI industry, has the potential to propel the market. Between 2022 and 2030, Grandview expects the sector will increase at a pace of roughly 85.9%, to a value of $1,431.54 billion.
4. Blockchain will boost global GDP by $1.76 trillion by 2030
According to PwC’s “Time for Trust” assessment on blockchain and the emerging industry, the technology has the potential to boost global GDP by $1.76 trillion by 2030. According to experts at PwC, this amounts to 1.4 percent of global GDP today.
According to the survey, blockchain is particularly important now, since 61 percent of businesses are prioritizing digital transformation efforts as one of their top growth goals. Blockchain also aids businesses in meeting the growing demand for greater security and transparency in the workplace.
5. North America has the highest Blockchain market share
North America, according to Markets & Markets, will have the largest market share in the blockchain environment between 2022 and 2026. In recent months, the area has seen a considerable surge in blockchain platforms and services.
According to Markets & Markets, the increased demand for blockchain in North America is due to the region’s early embrace of bitcoin and enterprises’ increased investment in new security and vulnerability management solutions.
Blockchain Statistics: Markets for Blockchain
6. The financial sector accounts for around 30% of the market value for blockchain
According to Statista, access to blockchain technology may help a wide range of markets. However, by 2020, the financial sector will account for more than 30% of the total market value of the technology.
Other technologies, such as manufacturing (17.6%), distribution and services (14.6%), and the public sector, have begun to see the benefits of the ecosystem (4.2 percent ).
7. Blockchain in healthcare will reach a value of $1189.8 million by 2028
The global market for blockchain in healthcare is estimated to reach roughly $1189.8 million by 2028, according to a report released by Vantage market research in 2022. During this time span, the CAGR (compound Annual Growth Rate) was 61.3 percent.
The escalating concerns with healthcare data breaches during the pandemic, the threat of counterfeit trugs, and the rapid need for transparency in the healthcare sector, according to the research, are all driving growth.
8. 96% of financial services pioneers believe blockchain has achieved mainstream adoption.
According to a Deloitte survey on blockchain market penetration in 2021, 96 percent of Financial Services pioneers believe blockchain is a broadly scalable solution that has already gained mainstream acceptance.
93 percent of the pioneers also feel that blockchain, cryptocurrencies, and digital assets have a strong commercial case in their firms. As of 2021, the same number claims that business partners, suppliers, and customers are talking about collaborating on blockchain and digital assets.
By failing to implement blockchain, 97 percent of pioneers feel their business would miss potential for competitive advantage, while 93 percent believe the technology will open the door to new revenue streams.
9. Blockchain in agriculture and food will reach a value of $1.48 billion by 2026
According to a BIS Research analysis on blockchain technology and its influence on various industries, the solution would be valued roughly $1.48 billion in the agriculture and food sector by 2026.
According to the paper, blockchain technology is a game-changer for the food and agriculture industries since it allows for exact and tamper-proof inventory and product tracking. According to the analytics team, blockchain will aid in the storage of land records and other data, allowing food production to continue even in the event of a natural disaster.
10. Blockchain market in manufacturing size grew to $85.64 billion in 2022
Manufacturing seems to be one of the most rapidly increasing blockchain ecosystems in 2022. Worldwide Newswire estimates that the global blockchain in manufacturing industry would grow from $49.50 million in 20221 to $85.64 billion in 2022.
This phenomenal rise reflects a 73 percent compound annual growth rate. If current trends continue, Global Newswire estimates that the market for blockchain in manufacturing will reach $778.05 million by 2026.
Blockchain Statistics: Blockchain Benefits
11. The number one factor driving blockchain adoption is provenance
The number one use of blockchain (ranked by its capacity to produce economic value) is provenance, according to PwC market research. Blockchain offers enormous potential to help organizations authenticate the provenance of their products and trace supply chain movement, avoiding fraud and contamination risks. PwC estimates that this will boost global GDP by $962 billion by 2030.
Improved access to payments and financial instruments, valued at $433 billion, and identity management, valued at $224 billion, are two additional major drivers of blockchain adoption.
According to PwC, blockchain can help boost global GDP by improving contract administration and dispute resolution, as well as boosting consumer engagement.
12. Blockchain is forecasted to generate over $3.1 trillion in business value by 2030
According to Gartner researchers, incorporating blockchain technology into the corporate environment has the potential to significantly increase company value. According to the estimate, the value of blockchain-based businesses will reach $176 billion by 2025, and $3.1 trillion by 2030.
Enterprise architectural technology and innovation executives, according to Gartner, should be looking at the potential for blockchain to accomplish innovation and disruption.
Gartner also expects that the blockchain ecosystem will continue to develop, despite the fact that many platforms are currently “fragmented” solutions.
13. 52% of FSIs believe blockchain will have value for verifying customers
According to the Deloitte Global Blockchain Survey for 2021, roughly 52 percent of all FSI respondents feel blockchain has a lot of promise for confirming client billing instructions and preventing fraud. Another 51% believe blockchain and digital assets as useful for signing contracts or agreements, as well as verifying signatures.
Blockchain, according to 51% of respondents, would aid in financial inclusion, while 48% feel it will benefit in doing know-your-customer checks.
14. 86% of tech-savvy teams believe there are huge benefits in Blockchain
According to a Deloitte survey published in 2019, over 86 percent of tech-savvy executive teams feel blockchain has considerable commercial potential. Even more executives stated that this technology has now become a scalable option.
In a follow-up research conducted by Deloitte in 2021, the percentage of CEOs who thought blockchain was a scalable solution had dropped to roughly 81 percent. Blockchain, on the other hand, was considerably more likely to be suggested as a scalable solution by FSI innovators and early technology adopters (96 percent ).
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