“Blockchain Spending, $12.4 billion by 2022”

It is predicted that this year’s global blockchain-related spending will reach $2.9 billion (about KRW 3.2 trillion), an 88.7% increase from last year.

According to a report released by market research firm IDC, blockchain spending in 2019 will be centered on the financial sector, and it is expected to invest more than $1.1 billion in banks, securities, investments and insurance. On the other hand, blockchain spending on manufacturing and distribution is expected to reach $6.53 billion and $6.42 billion, respectively. It is also expected to invest $7.38 billion in cross-border payments and trade finance.

By region, the U.S. is expected to reach $1.1 billion, Western Europe $6.74 billion, and China $31.9 billion.

IDC predicts that from 2018 to 2022, global blockchain spending will grow rapidly, with an average annual growth rate of 76%. Accordingly, by 2022, the total amount of global blockchain spending is expected to reach $12.4 billion. IDC previously predicted global blockchain spending at $9.7 billion in 2021 and $11.7 billion in 2022. Related information can be found here .