IT and business services would capture more than two-thirds of global investment in blockchain solutions by 2024.
According to the most recent forecasts ofIDC, companies would invest nearly $ 6.6 billion in blockchain solutions this year 2021. The increase would thus be more than 50% compared to global blockchain spending recorded in 2020.
Of the $ 6.6 billion expected worldwide spending in this area, $ 2.6 billion would come from the United States, $ 1.6 billion from Western Europe and $ 777 million from China this year.
“Organizations around the world are investing in blockchain to build resilience and transparency [des chaînes d’approvisionnement] Said James Wester, research director of global blockchain strategies at IDC. Businesses, financial institutions and governments are also investing in areas that these players previously viewed with a distance, including cryptocurrencies, central bank digital currencies, decentralized finance, and stablecoins.
In the medium term, the increase in investments linked to the blockchain or decentralized transaction management technology should therefore remain solid.
Thus, by 2024, the market will grow at a significantly faster rate (+ 48% on average) than IDC predicted last fall.
Which providers are capturing the value?
IT and business services
IT services and business services together should capture more than two-thirds of the investments made over the period studied.
Who are the main customers?
30% of global investments in blockchain solutions should come from the same sector, that of banking, against 20% for the production industry (discrete and process). Professional services, commerce (retail) and insurance follow.
Cross-border payments and transfers that use distributed ledger technologies (DLT), and logistics traceability are the main current uses of blockchain solutions. Asset management and identity management are other promising areas.
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