China market

In 2021, the International Data Corporation released the "2021 V1 Global Blockchain Spending Guide" on March 24. According to IDC forecasts, the global blockchain market will reach 18.95 billion U.S. dollars in 2024, with a compound growth rate of approximately 48.0% during the five-year forecast period (2020-2024). The five-year compound annual growth rate (CAGR) of China's blockchain market will reach 54.6%, ranking first in the world.

According to China's "14th Five-Year Plan", blockchain, as one of the seven key digital economy industries in the "14th Five-Year Plan", will promote the added value of the core industries of the digital economy to account for 10% of GDP in 2025.

Due to China's outstanding performance in epidemic prevention and policy support, IDC predicts that China's blockchain market will exceed 500 million U.S. dollars in 2021, and is expected to exceed 2.5 billion U.S. dollars in 2024. The five-year forecast data is compared with the previous period. Increase it by about 5%-10%, and basically return to the pre-epidemic level.

At the same time, IDC data predicts that the five-year compound annual growth rate (CAGR) of China's blockchain market will reach 54.6%, ranking first in the world.