The use of blockchain has grown significantly in the last three years. The size of the global blockchain interoperability market is now on track to become worth $1.98 billion by 2032, according to a report by Spherical Insights & Consulting.
Blockchain interoperability to grow significantly by 2035
According to a study by Spherical Insights & Consulting, the size of the global blockchain interoperability market was estimated to be $0.2 billion in 2022. The market is expected to grow to $1.98 billion globally by 2032.
The increase at a compound annual growth rate (CAGR) of 25.77%.
Interoperability is defined as the idea of helping data sharing across chains, and interaction and integration between various blockchain networks. Supply chains, finance, identity management, and other industries have all shown potential for blockchain technology. One of the biggest benefits of blockchain interoperability is the capacity for cross-chain transactions.
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