Blockchain expenditures in the United States will increase from € 2.76 billion to € 36.3 billion by 2025.
The report entitled “Blockchain business opportunities and prospects data book in the United States (2016-2025)” predicts that US blockchain expenditures will increase from € 2.76 billion to € 36 billion by 2025, 3 billion euros would rise. The average annual growth rate (referred to in the report as CAGR for short) is 44.5 percent. The report was published by the Research and Markets market and research data platform.
The report also shows that spending on blockchain in the US in 2018 has risen by 110 percent and would amount to the equivalent of € 1.42 billion. In preparing the report, the company has reportedly examined the market opportunities and risks associated with Blockchain in more than 75 territories in 11 US industries.
In early March, research firm International Data Corporation (IDC) released a report that predicted that Blockchain spending would grow rapidly worldwide between 2018 and 2022. The five-year CAGR amounts to 76 percent, resulting in a total of up to the year 2022 in the amount of 10.98 billion euros.
In a worldwide comparison, the United States is expected to record the largest expenditures for Blockchain with the equivalent of around 970 million euros. Western Europe and China, which are expected to invest around € 597 million and € 251 million respectively, will follow with some distance.
This month, economist and notorious cryptocurrency critic Nouriel Roubini has also claimed that Blockchain has nothing to do with the future of financial services. Roubini excluded Blockchain technology from the list of key technologies that would lead to a production or fintech revolution. These include artificial intelligence, machine learning, big data technologies and the Internet of Things.
Manisha Singh, US State Undersecretary for Economic Growth, Energy and the Environment, said that the agency is currently in the research phase to “better understand” blockchain technology. Singh said, “Blockchain technology is becoming a global phenomenon, so it is imperative that we better understand this cutting-edge technology as it becomes more prevalent in our economy.”
Also published on Medium.