Blockchain for Enterprise Applications Market to Reach $19.9 Billion by 2025, According to Tractica

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According to a new report from Tractica, annual revenue for enterprise applications of Blockchain will increase from $2.5 billion worldwide in 2016 to $19.9 billion by 2025. The market intelligence firm’s analysis indicates that this market will be composed of 29 key use cases that will touch at least 19 different industry sectors.

“Blockchain, a technology that began with Bitcoin, is enjoying a blossoming beyond cryptocurrency and the transfer of money, to an architecture able to support many types of transactions, from logging an event, to signing a document, to voting, to allocating energy between parties, and far beyond,” says principal analyst Jessica Groopman.

Groopman adds that, in the last year alone, over a hundred financial institutions, more than two dozen governments, and countless corporations and venture capitalists have invested more than $1 billion into Blockchain startups.

“But through the fog of hype,” she says, “lies the sobering reality that this is a market of extreme nascence and fragmentation. Despite significant hurdles, however, Blockchain has the potential to impact a wide variety of industries, most notably finance, manufacturing, healthcare, energy, and insurance, among many others.”

Tractica’s report, “Blockchain for Enterprise Applications”, examines market trends, technology issues, key use cases, and industry players in the rapidly evolving enterprise Blockchain sector. The study includes granular market sizing and revenue forecasts for 29 use cases spanning 19 industries, segmented by implementation category and world region, for the 10-year period from 2016 through 2025. The report also includes in-depth profiles of 22 key industry players. An Executive Summary of the report is available for free download on the firm’s website.

Within the past couple of years, there has been much ado about Blockchain, also known as distributed ledger technology: a distributed data verification technology wherein financial and operational transactions are recorded and validated across a network, rather than through a central authority. This technology can be confounding as enterprises wrestle with how best to utilize it, but at the same time Blockchain promises radically different approaches and efficiencies for transaction processing, asset management, intra-organizational execution, and identity management.

Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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