The research company told what helps the development of decentralized technologies, and which startups will be forced out of the market

By 2025, the blockchain technology market will reach $21 billion, according to a report by the analytical company Fortune Business Insights. Experts believe that the current post-coronavirus crisis, expressed by unemployment and economic instability, provides an opportunity for the development of the blockchain industry, Forbes reports.

"The government and public authorities are showing increasing interest in obtaining the regulatory permits for the development of their solutions. The volume of the blockchain technology market in 2017 was $1.64 billion, and by the end of 2025 it will reach $21.07 billion. According to forecasts, the combined average annual growth rate will be 38.4%, " the report says.

The company noted that the expansion of this sphere is largely due to the entry of large companies into the market. However, the number of mergers and acquisitions of blockchain startups has been on a downward trend since last year. This suggests that corporations are beginning to develop their own solutions based on distributed Ledger technology, and small companies, therefore, face displacement, analysts suggested.

They stressed that the leading player in this industry at the moment is one of the world's largest manufacturers and suppliers of hardware and software, as well as IT services and consulting services, IBM. Also, the following blockchain developments have their own:

The Linux Foundation, Chain Inc.;
Oracle Corporation;
Fintech & Blockchain Software House;
Deloitte;
Consensus Systems;
Microsoft Corporation;
Schvey, Inc.;
Altoros;
Bits, Inc.;
Altoros;
VironIT.

In March, Walmart announced it was joining the Hyperledger blockchain consortium. Representatives of the American retail giant spoke at the Hyperleger Global Forum 2020 event, where they spoke about the" impressive results " of testing distributed Ledger technology.