This IDC study describes how IDC's Customer Insights and Analysis group evaluates the worldwide blockchain market opportunity, identifying top-ranking regional use cases and providing market forecasts from IDC's Worldwide Semiannual Blockchain Spending Guide. We provide worldwide use case figures for 2016–2021, analyzing the current size and future potential of implementing several key blockchain use cases and setting the forecast within the context of the broader ecosystem.
This IDC study provides a detailed description of IDC's Worldwide Semiannual Blockchain Spending Guide methodology and taxonomy. It should be used as a companion piece for IDC's Worldwide Semiannual Blockchain Spending Guide and all of IDC's worldwide industry research. Technology suppliers may utilize this approach and structure as well to help them build an industry-focused organization.
"Blockchain technology is reimagining the way the world operates," said Stacey Soohoo, research manager, IDC's Customer Insights and Analysis group. "From the transparency and decentralized consensus of distributed ledger technology to the security and incorruptibility ensured by cryptographic signatures and encryption, many features make blockchain an appealing solution to problems across various industries. This collaborative technology has the ability to lower the cost of trust while improving business processes, both within and between enterprises. Some would consider blockchain technology a paradigm shift in how enterprises will approach the management and processing of data in the years to come."