Fortune Business Insights: Blockchain market volume will reach $104 trillion – Bits Media

Analysts at the Indian consulting company Fortune Business Insights expect explosive growth in the blockchain industry. North America will be the leader in this industry over the next decade..

IN 2020 year, the total size of the blockchain industry was about $3 trillion, and in 2021 he has already reached $4.68 trillion. Researchers from Fortune Business Insights are confident: with an average annual growth rate of 55.8% to 2028 year the blockchain market will reach $104 trillion.

Experts emphasize: presence of such giants as Microsoft in the American market, IBM, AWS or Oracle will significantly influence industry growth in the next decade. The regional North American market is estimated at almost 50% ($1.44 trillion in 2020 year) world.

According to the study, the pandemic has increased demand for cloud services and accelerated software modernization, which allowed the blockchain industry to reach a new stage of development. Demand for secure and transparent data management is greater today, than ever.

Besides, experts say, The growing popularity of blockchain is due to the fact that, that more and more enterprises need stable operation and protection of digital assets. Based on this, the demand for “blockchain as a service” (blockchain-as-a-service, BaaS) will grow.

Recall, At the end 2020 Microsoft together with the consulting company Ernst & Young announced a blockchain-based platform, which will allow you to manage contracts for content creators and partners, busy games.