Worldwide Blockchain Spending to Slow Down to $4.3B in 2020 – Eetasia.com

Worldwide Blockchain Spending to Slow Down to $4.3B in 2020

Article : IDC

Following the global scenario, Asia/Pacific blockchain spending to drop to US$ 822.9 million…

According to the April update of the IDC Worldwide Blockchain Spending Guide Worldwide and Asia/Pacific* blockchain spend will decline in 2020 as compared to the pre-COVID-19 forecast scenario. This decline is led by marked reductions in IT spend and bleak economic growth in recent months due to the pandemic. Worldwide spending on blockchain solutions is forecast to reach nearly $4.3 billion in 2020 – a tempered 57.7% growth from the $2.7 billion spent in 2019. While IDC forecasts a drop in blockchain spend in every industry in 2020 due to COVID-19, the scope of these reductions will vary across industries.

IDC expects blockchain spending to grow at a tempered pace over the 2018-2023 period with a five-year compound annual growth rate (CAGR) of 55.3% for Asia/Pacific* and 57.1% for Worldwide – with worldwide spend reaching $14.4 billion by 2023.

Source…

Blockchain Spending 2020 Worldwide Asia/Pacific excluding Japan