2018-7-20 00:37 |
A new report published by the International Data Corporation expects spending on blockchain solutions to increase annually at a growth rate of nearly 75 percent through 2022.
Dubbed the “Worldwide Semiannual Blockchain Spending Guide,” analysts at the firm expect total spending on projects in the blockchain industry to hit $11.7 billion in 2022 alone, compared to the $1.5 billion expected to be spent in 2018.
The report further added that “blockchain platform software will be the largest category of spending outside of the services category and one of the fastest growing categories overall, along with security software.”
This spending trajectory is largely expected to be led by the financial sector, with banks being early adopters of the technology.
The report explains that data shows a total of $552 million was spent on blockchain by the financial sector alone in 2018.
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