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Blockchain Statistics 2022-2023

Posted by QuoteColo on December 14, 2022 - Updated on December 18, 2022

Blockchain Statistics 2022-2023

• 29.7% Of Blockchain Market Value Belong To Banks.
• Worldwide Blockchain Users Stands At 2.8%
• IoT To Experience A 40% Increase By 2026
• 80% Of Business Leaders Will Adopt Blockchain Technology
• Metaverse Will Become A $13 Trillion Sector
• Blockchain Technology To Add $1.76 Trillion To Global GDP
• The Blockchain Industry Is Worth $11.5 Billion
• Men Are 3 Times More Likely To Understand Blockchain
• 25% of SMEs Would Accept Crypto Payments
• China Blockchain Value To Reach $2.1 Billion By 2026
• More Than $1 Billion Was Lost To Crypto Scams

Blockchain Facts 2022-2023

Contrary to popular belief, the banking sector has the lion’s share of blockchain market value. The retail sector, manufacturing, and service industries combined have a market value of 29%. According to research, the banking sector has the prospect of producing more than $1 billion in revenue. These endless possibilities encourage banks to adopt more and more blockchain-based cryptocurrencies.

Most consumers prefer mobile wallets and banks for security and guarantee; this has given banking institutions leverage when investing in blockchain technology.

As of July 2022, the total number of blockchain wallet users was 83,434,000. This number of users pushed the number of blockchain transactions to 748,655,000 by July 15th, 2022. This growing number of blockchain users is expected to push revenue to $20 billion by 2024. Also, with the ever-growing number of blockchain users, the health sector has identified the need to adopt blockchain technology for commercial deployment.

The global blockchain market is expected to increase by 2030, with a growth rate of almost 86%; the blockchain market will be worth $1,431 billion. These projections have pushed the United States to invest more than $2.5 billion to improve blockchain technology to cater for future demand.

IoT has grown tremendously, diversifying its services across the globe. IoT has become a reliable industry that enhances automation processes and the efficiency of communication networks and human experience. Therefore, integrating Blockchain in this critical sector will improve data security, improve IoT platforms, and backup since Blockchain adds another valuable security layer that discourages security breaches.Integrating blockchain technology will enhance sectors such as the Pharmaceutical industry by controlling drug shipment. The Automotive sector will also become efficient since information will be shared efficiently, thus improving smart parking, automated fuel payments, and auto traffic control.

 

Blockchain Stats 2022-2023

Business leaders, especially in the private sector, understand that blockchain technology will integrate touchless business processes and improve functionality. Concurrently, business executives also acknowledge that blockchain technology will increase revenue by generating different income avenues. Adopting blockchain technology has the potential to reduce annual costs by 38%; another significant benefit of blockchain technology is that it enhances accuracy, flexibility, and data sharing.

The metaverse industry is expected to grow tremendously; it is estimated that 25% of the world population will spend 1 hour daily in the metaverse. This projection has influenced Venture Capital investors to invest almost $5 billion to develop metaverse games by 2026. Investment in blockchain games has experienced a significant increase in terms of investments over the last year.

Together with virtual reality and augmented reality, blockchain technology decentralized the metaverse creating a virtual economy and, at the same time utilizing cryptocurrencies and other forms of digital payments. In general, blockchain technology provide the necessary capacity for the metaverse to thrive and integrate effectively with Web 3.

Research shows that nearly two billion people worldwide were either unbanked or underbanked. Still, the financial inclusion experienced because of cryptocurrency will see the global GDP increase to $1.76 trillion by the year 2030.The areas that have experienced a significant impact by cryptocurrency are supply chains, cross-border payments, and identity verification. These areas have benefited since Blockchain provides transparent and secure blockchain ledgers. These ledgers enable companies to manage inventory effectively through the supply chain.

 

The estimated value of global blockchain technology is around $11 billion. This number is expected to increase as more individuals and companies adopt blockchain technology. By 2027, the blockchain industry’s worth will be around $163 billion from $1.5 billion in 2018.

Global spending on blockchain technology largely spearheads this increase. As more people embrace blockchain technology, growth is experienced across different sectors of the economy.

23% of men have heard about Ethereum, compared to 8.2% of women. Generally, women are less likely to know and even understand cryptocurrency. According to research, more men have an interest in knowing alternative Bitcoin. Despite these numbers, women generally have heard more about Blockchain than men.

This information can help transform gender inequality since it can implement a different compliance organization. Blockchain can minimize the dependency ratio of women to men.

 

The growth of small and medium enterprises has largely been spearheaded by transparency and blockchain networks that will open new opportunities. Financial institutions are adopting alternative methods as opposed to traditional banks; these methods will lead to new business prospects that will bolster growth.

The second-largest economy in the world is expected to experience a 50% increase in adopting blockchain technology. Blockchain technology slowed down in China due to the pandemic, but this is expected to change as the world market emerges from the effects of Covid-19.

Reports show that almost $1 billion was lost in October of 2021 through Ponzis and rug pulls. But almost $890 billion has been recovered in 2022

 

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