North America to lead growth in blockchain market, new report saysBy Cointelegraph (contrib. Fatstack)
A new report indicates that the blockchain industry is set for astronomical growth in the next decade, with the North American market leading the way.
The report by Fortune Business Insights, titled “Blockchain Market Analysis Research Report, 2021–2028,” mentions that the global blockchain market size is expected to reach a whopping $104.19 billion by 2028, exhibiting at a CAGR of 55.8% across the forecast period.
The presence of major industry players such as IBM, Microsoft, Oracle, AWS, Digital Asset Holdings and others in the North American market is expected to have a significant impact during the forecast period. For comparison, the regional market was valued at $1.44 billion in 2020.
According to the research, the pandemic has expedited demand for cloud-based services and software, resulting in a market ripe for blockchain innovation. The demand for secure and transparent data management is greater than ever, with more and more organizations seeking to establish virtual work platforms. . . .