In 2021, cross-border payments and settlements were considered the largest individual blockchain technology use case, accounting for close to 16 percent of the global blockchain technology market. Lot lineage and provenance also accounted for a larger portion of the market share, with 10.7 percent.
Cross-border payments and settlements
Cross-border payments and settlements have become a popular use case for blockchain technologies as it allows for money transfers, or in another word, remittances, between countries. Throughout the world, consumers and businesses transmit large quantities of money internationally and in the past this process has remained relatively expensive with bank transfers and currency conversion. However, more recently, the banking industry has become the dominant worldwide sector for blockchain technologies, allowing consumers and businesses to transmit money internationally and improve remittances, decrease costs, and minimize exposure to cryptocurrencies. With the banks using blockchain technology themselves, they eliminate the “middleman”, which in this case is cryptocurrency. This increased popularity in the process is leading to the anticipated increase in the worldwide blockchain technology market size in coming years.
Lot lineage and provenance
The other popular use case that holds a significant portion of the market for blockchain technologies is lot lineage and provenance, which has impacted the business operations of organizations specializing in B2B software, IT, and computer services. This use case very simply allows for the verification of the origin and authenticity of product components as it progresses throughout the value chain. In other words, it acts as a product genealogy. Lot lineage and provenance as a use case assists in regulatory compliance, specific recalls, and prevents counterfeit components.
Blockchain technology market share forecast worldwide in 2021, by use case
Adjust the presentation of the statistic and data points.
Share the statistic on social media channels or embed the statistic in your
website using "Embed Code", where available.
Cite this statistic and select one of the following formats: APA, Chicago, Harvard, MLA & Bluebook.
Print the statistic including description and metadata.
Chart type
Blockchain technology market share forecast worldwide in 2021, by use case
Share this statistic
You have no right to use this feature.
Make sure to contact us if you are interested in scientific citation.
You can upgrade your account to enable this functionality for all statistics.
This feature is not available with your current account.Request access
Learn more about how Statista can support your business.
IDC. (April 19, 2021). Blockchain technology market share forecast worldwide in 2021, by use case [Graph]. In Statista. Retrieved February 19, 2025, from https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/
IDC. "Blockchain technology market share forecast worldwide in 2021, by use case." Chart. April 19, 2021. Statista. Accessed February 19, 2025. https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/
IDC. (2021). Blockchain technology market share forecast worldwide in 2021, by use case. Statista. Statista Inc.. Accessed: February 19, 2025. https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/
IDC. "Blockchain Technology Market Share Forecast Worldwide in 2021, by Use Case." Statista, Statista Inc., 19 Apr 2021, https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/
IDC, Blockchain technology market share forecast worldwide in 2021, by use case Statista, https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/ (last visited February 19, 2025)
Blockchain technology market share forecast worldwide in 2021, by use case [Graph], IDC, April 19, 2021. [Online]. Available: https://www.statista.com/statistics/982566/worldwide-top-use-cases-blockchain-technology-by-market-share/
Profit from additional features with an Employee Account
Please create an employee account to be able to mark statistics as favorites.
Then you can access your favorite statistics via the star in the header.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.