Worldwide spending on blockchain solutions is forecast to reach $11.7 billion in 2022, according to a new update to the Worldwide Semiannual Blockchain Spending Guide from International Data Corporation (IDC). Expects from IDC report blockchain spending to grow at a robust pace throughout the 2017-2022 forecast period with a five-year compound annual growth rate (CAGR) of 73.2 percent. Worldwide blockchain spending is expected to be $1.5 billion in 2018, double the amount spent in 2017.
According to the research, The United States will see the largest blockchain investments and deliver more than 36 percent of worldwide spending throughout the forecast. Western Europe will be the next largest region for blockchain spending, followed by China and Asia/Pacific (excluding Japan and China) (APeJC). All nine regions covered in the spending guide will see phenomenal spending growth over the 2018-2022 forecast period with Japan and Canada leading the way with CAGRs of 108.7 percent and 86.7 percent.
Get more details on the blockchain study at IDC.com