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Blockchain Market Expected To Grow By A CAGR Of 77.32%

Ramsey Baker

Summary: Blockchain as a service market is expected to grow at a compund annual growth rate (CAGR) of 77.32%, taking blockchain's market value of $268.517 million in 2018 to $8.346 billion by 2024, according to Business Wire. One of the main reasons for this rapid growth predictions is because of cloud computing. With cloud computing’s growing ...

Blockchain as a service market is expected to grow at a compund annual growth rate (CAGR) of 77.32%, taking blockchain's market value of $268.517 million in 2018 to $8.346 billion by 2024, according to Business Wire.

One of the main reasons for this rapid growth predictions is because of cloud computing. With cloud computing’s growing scalability and decreasing cost of bandwidth, businesses are looking for ways to improve their focus towards their core business and reduce business risks while increasing their margins by significantly cutting down on high upfront charges linked with executing a solution. This provides the perfect opportunity for blockchain to increase adoption, therefore boosting the growth of the market.

By Ramsey Baker

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