Blockchain Tech Could Be $20 Billion Market by 2025, Report Says

The global blockchain technology market could be worth $20 billion by 2025, up from $315 million in 2015, predicted Transparency Market Research in a Wednesday news release. The research firm said it expects the market for blockchain, a type of authentication technology for online payments, to grow at a compound annual growth rate of 58.7 percent from 2016 to 2024. IBM, R3 and Chain Inc. lead the global market, with a combined 45.3 percent share in 2015, and will likely make acquisitions to widen their customer base and enhance their technologies, TMR said. Stringent regulations are one restraint on the market, it said: “It is imperative that [companies] adhere to privacy laws, which vary with each country.”