According to a report by Gartner, the business value of blockchain will surpass $3.1 trillion by 2030. The report also predicts that the number of blockchain organizations will quadruple by 2023.
A recent study by Juniper Research estimates that the cryptocurrency market will grow to $5 trillion by 2022, up from $1.3 trillion in 2018. This growth is primarily attributed to the increasing popularity of blockchain technology and the increasing use of cryptocurrencies for payments.
Another study by PwC found that 84% of executives believe blockchain will significantly impact their industry within the next five years. The study also found that 73% of executives believe blockchain will significantly impact their business within the next three years.
Key Blockchain Statistics and Facts
1. Reasons why Blockchain Technology is Gaining Mainstream Adoption.
With so many potential applications, it is no wonder that the business value of blockchain is expected to reach $3.1 trillion by 2030.
There are several reasons why blockchain is becoming increasingly popular. Blockchain provides a secure and transparent way to store and transfer data. This is especially important in industries where data security is critical, such as the financial sector.
Blockchain allows for faster and cheaper transactions. This is because third-party intermediaries, such as banks, do not need to verify transactions. This can save businesses a lot of money and time.
Blockchain is becoming increasingly popular because it offers some new and innovative applications. For example, blockchain can be used to create new types of financial
instruments, such as digital currencies and smart contracts.
Blockchain offers a way to track and verify the provenance of products. This is important in the food and pharmaceutical industries, where product safety is paramount.
Blockchain can be used to create new types of decentralized applications. These applications run on a computer network rather than on a single server. This can provide some advantages, such as improved security and scalability.
2. Issues must be solved before blockchain becomes a mainstream technology.
High electricity consumption for blockchain validation- in 2020, blockchain validation was responsible for 0.5% of the world's total electricity consumption
51% attacks- in which one person or a group of people gain control of more than 50% of a network's mining power, thus allowing them to manipulate the system
Scalability issues- blockchain networks can only process a limited number of transactions per second
Lack of regulation- currently, there is no overall regulatory framework for blockchain technology
Difficulty in obtaining cryptocurrency- most cryptocurrencies can only be bought on exchanges, which can be challenging to use for first-time buyers
The volatility of cryptocurrency prices- the prices of cryptocurrencies are highly volatile, which can make them difficult to use as a currency
Potential for illegal activity- blockchain technology can be used to facilitate illegal activities such as money laundering and drug trafficking
Lack of understanding- blockchain technology is still relatively new and misunderstood by many people
Security concerns- blockchain networks are vulnerable to hacking and theft
3. 2022 Blockchain statistics show that Blockchain technology is currently experiencing a major boom in terms of investment and adoption
As of 2022, blockchain data indicates that investment in blockchain technology has increased significantly. Over $1.2 billion has been invested into blockchain-based firms and initiatives during the last year alone. This is a development that is expected to develop further as more businesses and individuals discover how useful this disruptive technology can be.
Some of the most notable investments have come from major corporations such as Microsoft, IBM, and even Amazon. These companies are investing millions of dollars into research and development to find new and innovative ways to utilize blockchain technology. This indicates that they believe in the long-term potential of this technology.
As more businesses adopt blockchain technology, we expect to see more investment pouring into the space. This will help to drive further innovation and adoption of this groundbreaking technology.
During the last year, $1.2 billion has been invested in blockchain-related startups and projects, showing a major trend in investment and adoption of this technology. And as more people become aware of its potential uses, it's expected that this number will continue to grow.
Major corporations like Microsoft, IBM, and Amazon have invested millions of dollars into blockchain technology research and development. Their significant investment choices are apparent evidence they believe in blockchain's potential for the long-term future.
As more businesses begin using blockchain, we anticipate more money flowing into the industry. This will encourage additional development and adoption of this game-changing technology.
4. Blockchain’s global market is going to hit $67.4 billion by the end of 2026
According to a study undertaken in 2021, the global blockchain market is expected to record a total valuation of $67.4 billion by 2026. This was going to be from a measly $4.9 billion in 2021. The rise would represent a compound annual growth rate of 68.4% within the predicted duration of 5 years. Primary factors that will contribute to this rapid growth include extensive adoption of blockchain tech across institutions, increasing venture capital funding into the industry as well anand institutional investment.
5. Blockchain technology will boost the world’s GDP by $1.76 trillion by the start of 2030
A study by PwC dubbed a “Time for Trust’ reviewed the blockchain market and found out the global GDP would grow by $1.76 trillion as a result of blockchain technology. The report estimated this to be a 1.4% contribution to the global GDP. Additionally, the analysts reported that 61% of firms were now at the edge of digital inclination and were looking towards decentralization as their growth priority.
6. The finance sector accounts for around 30% of the blockchain’s market value
According to Statista reports, there is a multitude of markets that can benefit from access to blockchain technology. However, the financial market currently accounts for more than 30% of the complete market value of the technology, as of 2020.
The value of the ecosystem has also begun to spread to other technologies, such as manufacturing (17.6%), distribution and services, (14.6%) and the public sector (4.2%).
7. 96% of Financial Services solution providers believe blockchain has already attained mainstream adoption
A study by Delloite into the marketplace adoption of blockchain in 2021 found approximately 96% of Financial Services providers believe blockchain is a widely diverse and scalable solution, which has already attained mainstream adoption.
93% of the providers also said they believe there’s a compelling business case for the use of blockchain, cryptocurrencies and digital assets in their organizations. The same number also claimed business partners, suppliers, and customers are discussing working on blockchain and digital assets as of 2021.
97% believe their organization will lose opportunities for competitive advantage by failing to adopt blockchain, while 93% believe the technology will open the door to new revenue streams.
8. Blockchain technology will generate over $3.1 trillion in business value by 2030
According to analysts at Gartner, adding blockchain technology to the business environment could have a significant impact on enterprise value. The report suggests business value generated by blockchain will grow to around $176 billion by 2025, then to $3.1 trillion by 2030.
According to Gartner, enterprise architecture technology and innovation leaders should already be looking into the potential to achieve innovation and disruption via blockchain.
Gartner also believes that there’s still a significant amount of growth in the pipeline for the blockchain environment, as many platforms are still “fragmented” offerings.
9. How many Crypto users are there in 2022?
The number of cryptocurrency users is expected to grow significantly in 2022. A study by Cambridge University estimated that there are currently between 2.9 and 5.8 million active users of cryptocurrencies, which is expected to grow to 25 to 50 million by 2022.
This growth will be driven by many factors, including the increasing awareness of cryptocurrencies, the expanding ecosystem of applications and services, and the maturing of technology.
10. How much money will be invested in blockchain technology in 2022?
The money invested in blockchain technology is also expected to grow significantly in 2022. A recent report by Gartner estimated that global investment in blockchain technology would reach $2.1 billion in 2022, up from $339 million in 2017.
This growth will be driven by factors including the increasing demand for blockchain applications, the maturing of technology, and the increasing availability of investment capital.
11. What will be the size of the global blockchain market in 2022?
The size of the global blockchain market is expected to reach $20 billion by 2022, up from $2.2 billion in 2018, according to a report by MarketsandMarkets.
This growth will be driven by several factors, including the increasing adoption of blockchain technology by various industries, the maturing of the technology, and the increasing investment in blockchain startups.
12. Why is Blockchain termed to be the Future?
Reliable: Blockchain is a distributed database that is not controlled by any single entity. This decentralized structure ensures that no single point of failure can corrupt or bring down the network.
Transparent and incorruptible: The ledger is public and available to everyone on the network. Transactions are verified by consensus of the network participants and recorded in a permanent, tamper-proof ledger.
Secure: Blockchain uses cryptographic techniques to secure transactions. Each block in the chain is linked to the previous block through a cryptographic hash, making it nearly impossible to alter transaction data retroactively without changing the entire chain.
Fast and efficient: Blockchain can process transactions quickly and efficiently without needing a centralized clearinghouse.
Lower costs: Blockchain can reduce transaction costs by eliminating the need for third-party intermediaries.
13. What are the Challenges facing Blockchain?
14. What's the Trading Value of Blockchain 2022?
The trend in blockchain technology is continuing to grow at a rapid pace. The total venture capital invested in blockchain start-ups has grown from $2.5 billion in 2016 to over $13 billion in 2018. And this trend is expected to continue in 2019 and beyond.
One sign of the growing interest in blockchain is the increasing number of patent applications filed by major corporations. For example, IBM has filed over 400 blockchain-related patents, while Walmart has filed for over 50.
The potential applications of blockchain technology are virtually endless. The most promising areas include supply chain management, identity management, and cross-border payments.
With the increasing adoption of blockchain technology, the demand for skilled professionals is also rising. The number of job postings for blockchain-related positions has grown 400% since 2017.
Blockchain statistics for 2022 show that the trend in blockchain technology is continuing to grow at a rapid pace. The total venture capital invested in blockchain start-ups has grown from $2.5 billion in 2016 to over $13 billion in 2018. And this trend is expected to continue in 2019 and beyond.
15. 52% of FSI (Financial Service Indicators) will gain value from customer verification
The Deloitte Global Blockchain survey for 2021 found around 52% of all FSI respondents believe there will be strong potential for blockchain in verifying customer billing instructions and reducing fraudulent activities. Another 51% of respondents see value in blockchain and digital assets for signing contacts or agreements or verifying signatures.
51% of respondents also said blockchain will help with enabling financial inclusion, while 48% believe it will help with conducting know-your-customer checks.
16. Blockchain could add $407 billion to the GDP in the USA alone
The PwC 2020 “Time for Trust” study demonstrated a significant potential boost to GDP from the blockchain for virtually every country worldwide. Perhaps the most significantly influenced country was China, with a potential boost to GDP of $440 billion by 2030.
However, the USA also has a lot of potential to unlock from the blockchain for new jobs and financial growth, with a potential boost of $407 billion by 2030.
The UK stands to achieve a $72 billion boost to the economy (the same as Japan), while Germany could see a $95 billion increase.
17. 68% of executives believe data security and privacy will benefit immensely from blockchain technology
While the adoption of blockchain technology is growing rapidly around the world, experts predict there are significant areas of regulations that need to be modified to allow the technology to go mainstream. Around 68% of respondents in a Deloitte study said security and data privacy needs to be upgraded in the regulatory landscape today.
57% of respondents said industry-specific regulatory issues were in need of modification, while 49% cited internal controls and financial reporting.
18. There are approximately 68 million blockchain wallet users
While there are many potential uses for blockchain, cryptocurrencies still account for a significant percentage of the market value. As of 2021, there were around 68 million blockchain wallet users in the industry. This number is growing as more cryptocurrencies are introduced into the market. However, Bitcoin continues to lead the market at this time.
According to Finances Online, the number of blockchain users in the world has increased significantly over the last five years. In 2016, there were only around 8 million wallets active online.
19. 80% of Business Leaders believe blockchain will disrupt business workflow
Business leaders see blockchain as an enabling technology that will further transform their business. More than 80% think that blockchain will enable them to integrate touchless business processes, enhance business functionality, and comply with financial reporting requirements. Investment banks have also reported billions in cost savings due to blockchain technologies.
- In a survey, 87% of senior executives from around the world said that blockchain will allow them to enhance further integration toward touchless business processes. On the other hand, 86% think that blockchain will unlock new business functionality and revenue streams in their industry. (Deloitte, 2019)
- Meanwhile, 83% of organizations said that they are “very or somewhat confident” in meeting financial reporting requirements related to blockchain. (Deloitte, 2020)
- The world’s largest investment banks reported 70% potential cost savings on central finance reporting due to blockchain technologies. Additionally, they reported a 30% to 50% potential cost savings on compliance, 50% potential cost savings on centralized operations and 50% potential cost savings on business operations. (Accenture, 2020)
- Lastly, by using blockchain technologies, the world’s largest investment banks can save $12 billion or 38% in annual cost savings. (Accenture, 2020)
20. Over $270 billion in assets have been transferred via blockchain
According to Gartner, more than 300 million transactions had occurred in the blockchain landscape by 2017 alone, accounting for around 300 transactions overall. Since then, experts predict the number of assets transferred through blockchain technology has increased significantly.
Notably, these assets account not just for the exchange of cryptocurrencies, but for a range of varied pieces of content and tools, including NFTs.
21. Why Isn't Everyone Using Blockchain Yet in 2022?
Blockchain technology has a long and difficult road from concept to reality. Blockchain adoption has been slow for a variety of reasons. One reason is that the technology is still in its early stages and needs further development before it can be widely adopted.
Another issue is that people are unfamiliar with what blockchain is and how it may be used. Finally, since blockchain technology is decentralized and lacks a central governing body, there is a lack of trust in it.
There are many reasons why blockchain will become more prevalent in the next few years. Businesses are recognizing its potential and investing in it. The technology is becoming simpler to use. Also, people are beginning to see advantages of blockchain that were not as obvious before, like how secure and unchanging it is.
As more businesses and individuals use blockchain, the technology will become more widely adopted and integrated into our everyday lives. We can expect widespread use of blockchain in various industries, including banking, healthcare, supply chain, and government.
The following are some key blockchain statistics that highlight the current state of adoption and usage:
Conclusion on blockchain statistics 2023
In 2022, the global blockchain technology market is expected to reach $39.7 billion. This figure represents a compound annual growth rate (CAGR) of 67.3% from 2021 to 2022.
The banking and financial services sector is expected to account for the largest share of the blockchain technology market in 2022 at 42.5%. The healthcare and life sciences sector is projected to grow at the second-fastest CAGR of 69.4% during the forecast period.
Among all the application areas, the payments and settlements application is expected to have the largest share of the blockchain technology market in 2022. This is attributed to the increasing adoption of blockchain technology in banking and financial services for payments and settlements.
Based on geography, North America is expected to have the largest global blockchain technology market share in 2022. This is due to the early adoption of blockchain technology in various industries such as banking, healthcare, and government in this region.
The Asia-Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing investments in blockchain technology by various countries in APAC, such as China, Japan, and South Korea.
Some of the key players in the blockchain technology market are IBM Corporation (US), Microsoft Corporation (US), Amazon Web Services (AWS) (US), Oracle Corporation (US), SAP SE (Germany), Deloitte Touche Tohmatsu Limited (UK), Infosys Limited (India), Accenture plc (Ireland), and Capgemini SE (France).
The report includes an in-depth competitive analysis of these key players in the blockchain technology market, with their company profiles, recent developments, and key market strategies.
In conclusion, the blockchain statistics for 2022 show that the technology sector is expected to grow significantly in the next few years. North America is expected to have the largest global blockchain technology market share, followed by Asia-Pacific.
The banking and financial services sector is expected to be the largest adopter of blockchain technology. Some key players in the blockchain technology market include IBM Corporation, Microsoft Corporation, Amazon Web Services, Oracle Corporation, and SAP SE.