As a Blockchain development and consulting company, our mission is to help companies in the technological evolution they will be incredibly needy in the coming years.
This is no longer a surprise: Blockchain will be the main aspect of this evolution.But what is the level of awareness of companies towards this technology? To find out, we wanted to “dive” into the web in search of the most important Blockchain trends from now until 2030. The information below is derived from reports from the world’s leading technology companies and research institutes.
7 Blockchain trends you can’t ignore if you represent a company
Let’s have look at the 7 Blockchain trends according to some reports from the world’s largest technology companies.
The global Blockchain market in 2030 will be worth $1,431.54 billion according to Grand View Research, with an average annual growth rate (CAGR) of 85.9%. PWC, on the other hand, says the value of the technology will be even greater: $1.76 trillion. Finally, Gartner predicts an incredibly higher value: $3.1 trillion.
What does this mean? That if the current market (2022) does not exceed $6 billion, what we have seen so far is just a small part of the exponential growth that will take place from now until the next few years.
As of 2022, the Blockchain market has an average annual growth rate (CAGR) of 76%. (Source: Accenture)
What it means? That the demand is strong, and the technology improvement is as strong, showing no signs of slowing down for at least the next two decades.
61% of CEOs of major companies said that digital transformation of business operations and processes (including Blockchain implementation) is among the top post-pandemic business priorities. (Source: PWC)
What it means? That companies know the value of Blockchain, but as with all things, time and market maturity are needed.
76% of people consider currencies on Blockchain a valid alternative or a natural substitute for traditional currencies. (Source: Deloitte)
What it means? That in the next few years we will all have a wallet for cryptocurrencies to conduct activities that today we conduct mainly thanks to fiat currencies.
By 2030, the first use of blockchain will be for tracking the origin of products along supply chains. This will be followed by use for payments (2nd), for identity documents (3rd), for contracts (4th) and finally for CRM (5th). (Source: PWC)
What it means? That the market will be extremely diversified: current Blockchain implementations do not remotely stand for what the next decade’s implementations will be.
Within this decade, between 10 % and 15 % of the world’s industrial infrastructures will use Blockchain in their processes. (Source: PWC)
What it means? That the world’s industry will undergo a total turnaround, going on to perfect processes and making the manufacturing sector much more efficient than it is today.
As of 2022, 57% of companies believe it is essential to invest in Blockchain to remain competitive in the market. Of these companies, 68% have invested more than $1 million and 27% have invested more than $10 million. (Source: Accenture)
What it means? That although the Italian market is still behind, the U.S. market has already begun to invest copious amounts of money in the development of its companies. And, it is well known, the United States moves at least five years ahead of the rest of the world.
Google trend “Blockchain”: what interests about the technology mean.
Although the Blockchain trends we have just shown you are quite comprehensive, we wanted to compare whether the projections and market numbers for the next few years match people’s search engine interests.
Look at the next graph: this is the search trend for the word “Blockchain” around the world over the past 5 years.
As you can see, the interest is thereand is stable over time. However, despite the largest peaks that correspond to crypto bull market periods (a clear sign that there is still a lot of correlation between Blockchain technology and the crypto world), the last 5 years have been characterized by some lateralization.
The interest around the technology in the corporate field is not yet felt on a large scale, a sign that we are still in an embryonic period with respect to the real potential of Blockchain (as the numbers above show).
In periods of stalemate like these last few years, there is only our key word: work. Whether it is outreach, popularization or technology enhancement work, what matters is to be ready for the time when the market is ready to embrace technological and industrial change.
Now that you know the Blockchain trends of the near future, you must have realized why companies cannot avoid innovating their business with this technology.
At Scaling Parrots, we are a software house with cross-functional ability in different business sectors and can support your company throughout the Blockchain implementation process. To learn how we might be able to help you, book your free one-hour no-obligation consultation now.