See full analysis Learn more Blockchain [New] Financial institutions acknowledge that Blockchain technology will save billions of dollars for banks and major financial institutions over the next decade. [New] Blockchain technology will create more than $176 billion worth of business value by 2025, and $3.1 trillion by 2030. The Excise Department within Thailand's Ministry of Finance plans to implement blockchain technology to improve its revenue collection systems in the coming year. Total spending on integrating blockchain into healthcare is forecast to rise to $5.61bn by 2025. Blockchain technology has become invaluable in the world, and its use is only going to increase in the coming years. Walmart and its Sam's Club division are using a farm-to-store DLT tracking system for some produce and expect to require their suppliers of leafy green vegetables to use blockchain tracking technology. By 2023, organizations using blockchain smart contracts will increase overall data quality by 50%, but reduce data availability by 30%, conversely creating positive data and analytics ROI. The global blockchain technology market is anticipated to reach USD 90.63 Billion in 2027, growing at a CAGR of 74.5% between 2020 to 2027. The Blockchain Supply Chain Market is expected to grow at a CAGR of 81.7% over the forecast period 2020 to 2025. Particularly in the fintech segment, blockchain investment is projected to reach USD 6.7 billion by 2023 at a compound annual growth rate of 75.2%. By 2023, Gartner projects companies using blockchain smart contracts will increase overall data quality by 50%, but reduce data availability by 30%, conversely creating positive data and analytics ROI. Blockchain technology is expected to grow rapidly in the coming years, with the global blockchain market projected to reach a value of $20 billion by 2024. In the next 10 years, blockchain is going to contribute 1.76 trillion dollars to the global Gross Domestic Development by 2030. By the year 2030, the business value that will be added due to blockchain technology is anticipated to be $3.1 trillion. Asia-Pacific Blockchain in IoT market is anticipated to grow rapidly during the projected period, and is anticipated to reach $1459.8 million by the end of 2026, at a growth rate of 94.8%. Blockchain spending will grow at five-year (2018-2023) CAGR of 55.3% for the Asia-Pacific region and 57.1% worldwide, with global spending reaching US$ 14.4 billion by 2023. Blockchain technologies will reach a tipping point in 2025 and be adopted at scale across the global economy, boosting GDP by nearly $2trn (£1.5trn) over the next decade. Blockchain is forecast to boost the global economy by $1.7 trillion by 2030, and, across all continents, Asia will see most economic benefit. Blockchain technologies could have the potential to boost the UK economy or GDP by £57 billion over the next decade. Blockchain technologies could boost the UK economy by £57 billion over the next decade and the global economy could see a $1.7 trillion boost. PwC economists expect blockchain to boost global GDP by US$ 1.76 trillion - which is 1.4% of global GDP - by 2030. PwC economists expect China and the United States to benefit the most from blockchain technology over the next decade. Blockchain is following suit, with 10% of global GDP expected to be stored on blockchain by 2027. Last updated: 17 January 2021 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No