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Report: Blockchain Slated to Become $8 Billion Global Industry By 2024

Over the next decade, Blockchain technology could grow to almost $8 billion in value, according to a new research report from Grand View Research called, “Blockchain Technology Market Size, Share, Industry Report, 2015-2024“.

The global Blockchain technology market size was valued at USD 509.1 billion in 2015 and is predicted to gain momentum over the forecast period. The report says that Blockchain technology is one of the most promising upcoming technological trends in the information technology domain. 

The numerous benefits involved in developing such a platform have already attracted the attention and hence, investments, from the financial sector as well as many technological giants. Not only does the technology hold the ability to disrupt the way the financial sector often works but will also have ramifications on many other industries including consumer goods, technology, and media & telecom, among others.

global blockchain technology market

The North American dominated the overall market and accounted for 40.9% of the global revenue. This can be attributed to faster adoption of innovative technologies in developed countries such as the U.S., and Canada.

The growing financial sector in emerging countries such as China and India is predicted to stimulate the Asia Pacific regional growth. The regional industry is presumed to grow at a CAGR of 37.6% in the coming years.

Richard Kasteleinhttps://www.the-blockchain.com
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, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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