New Tractica Research Shows Enterprise Blockchain Revenue at $20 Billion+ By 2025
According to Tractica the Enterprise Blockchain Will Surpass $20 Billion by the Year 2025
In just the past year the blockchain technology has been a very controversial phenomenon around the globe. The reason is the technology, perceived as a solution for whatever that could be ailing the society, as it has been described by Warren Buffet.
This year the enterprise blockchains have gone ahead to carry the commercial traffic, and they have moved beyond the current proof of concept demonstrations. As the implementations are mainly being driven by the cost of production opportunities, which has been followed by several business models that have been enabled by the advanced technology.
The benefits that are being enjoyed in the market come from the replacements of the intermediate agents plus the implementation of business rules which are referred to as smart contracts. With the use of smart contracts, the transactions can easily be automated and authenticated.
Further Analysis of the Market
According to a report published by Tractica, the combination that has been set of cryptography and automation has been able to produce a number of enterprise use cases, which have been made to be attractive to the different industries in the market.
The company has also forecasted that with the increasing adoption taking place in enterprises, then we should expect to see the blockchain technology driving the global market size. This is from $4.6 billion in this year to about $20.3 billion by the time we get to the year 2025.
The analysis further indicates that there are top five industry sectors that will adopt the blockchain technology, which are finance, government, manufacturing, insurance, and healthcare. When we look at the enterprise blockchain there are about 10 enterprise use cases some of which are finance, payments, syndicated loans, automated compliance, supply chain management and much more.
This is according to Joe Hoffman who is the chief analysis. He further states that the new market opportunities will be easily created with the use of blockchain technology without any trusted authority present. All that will be needed is an enterprise blockchain network, making it a critical factor that will help in accelerating the adoption of the concept.
The ‘Blockchain for Enterprise Applications’ is Tractica’s report, has gone ahead to examine the market trends, key use cases, technology issues and the different industry players that are analyzing the evolution of the enterprise blockchain. All this from the one-off projects that could be used in the general purpose technology.
The study also includes the granular market sizing plus the revenue forecast from about 39 use cases that is spanning 19 industries. All this has been segmented by the implementation category and the world region through 2025. But this is not all as the report also includes an in-depth profile of the 39 critical innovators in the industry.
If you are interested with reading the executive summary, it is free for you to download on their website.
What to Know About Tractica?
The company is a market intelligence firm that was established to focus on human interaction with the current technology
The market research plus consulting services are able to combine a quantitative and qualitative research methodology. One that will be able to provide a comprehensive view that is taking place in the emerging opportunities that are currently surrounding the Artificial Intelligence, User Interface, Wearable technologies, Digital Health, just to name a few.