The Global Blockchain Supply Chain Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.
The Blockchain Supply Chain Market is expected to grow at a CAGR of 81.7% over the forecast period 2020 to 2025.
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Top Companies in the Global Blockchain Supply Chain Market are IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Amazon Web Services Inc., Huawei Technologies Co., Ltd., TIBCO Software Inc., Auxesis Group, Guardtime Inc., BTL Group, Bitfury Group Limited., Omnichain Inc., VeChain Foundation, Accenture PLC, Digital Treasury Corporation and Other
Industry News and Developments:
– June 2020 – Oracle and HACERA Team Up On Multi-Cloud Blockchain-Based MiPasa Data Platform to Strengthen COVID-19 Response. MiPasa is a blockchain-based, distributed data platform launched by HACERA, which simplifies and streamlines the process of sharing and using data from multiple providers, making it accessible to researchers, software developers, and decision-makers worldwide.
– July 2019 – A consortium of Australia-based financial services companies teamed up with IBM and shopping center operator Scentre Group to launch a pilot that puts retail lease bank guarantees on a private blockchain.
Key Market Trends
Retail & Consumer Goods to Dominate the Market
– The retail industry controlled the blockchain supply chain market share and is supposed to remain dominant due to a surge in adoption by retail players to streamline their supply chain processes. Moreover, blockchain assures quality, product safety, reliability, and authenticity, along with enabling supply chain partners to know about their product location. These determinants drive market growth for blockchain in the retail industry.
– Counterfeit sneakers make up about 40% of the estimated USD 600 billion global fake fashion industry. The traditional methods manufacturers have used to assure authenticities, such as seals and certificates, can themselves be counterfeited. But retailers are beginning to implement blockchain technology to solve the counterfeiting problem.
– An increase in demand for transparent transactions and smart contracts is the key factor driving the market growth for blockchain in the retail industry. Smart Contracts can help in automating payment process for online as well as offline transactions. It can save time and cost for companies by removing the merchant (middleman), who charges extra for authenticating the transaction.
– The retail industry, owing to the rise in adoption by retail players to streamline their supply chain processes, is anticipated to dominated the blockchain supply chain market. For instance, in a survey by Eyefortransport Ltd. (left), the most significant share of spending was directed towards understanding the technology with 38.2% of retailers, brands & manufacturers, and 55.3% of logistics service providers stating that they spent money on blockchain in the supply chain area.
– Several companies are already using blockchain in the retail and consumer goods industry. Walmart has used blockchain in many of its pilot projects, such as its food safety partnership with IBM. The move will see all leafy green vegetable suppliers for Sam�=s and Walmart to upload their data to a corporate blockchain ledger by September 2019.
– Recently, Walmart employed blockchain technology to track seafood in Andhra Pradesh, India and is planning to intensify its global food traceability with this strategy. Amazon launched its blockchain solutions on Amazon Web Services (AWS), offering a fully-managed service that makes it easy to create and manage scalable blockchain networks in the retail using open-source frameworks.
North America to Drive the Market
– North America is recognized as the most advanced region in terms of technology appropriation and infrastructure. The broad behavior of principal industry players of blockchain technology solutions in this region is the primary driving determinant. Organizations across industry verticals, such as manufacturing, healthcare, retail and consumer goods, and logistics, provide essential growth opportunities for vendors.
– North America commanded the global market and is anticipated to remain aggressive during the blockchain in the retail market forecast period due to the presence of major market players and on-going developments in blockchain technology. The growth in data security concerns amongst retailers is also the principal factor that is supposed to feed the market growth in this area in the coming years.
– For instance, the U.S. government agencies ranging from the Army to the IRS see more than 70 breach incidents a day, according to the Government Accountability Office. Retailers in the region spend millions of dollars a year on data security, establishing extensive firewalls, hiring world-class cybersecurity experts, and taking other steps.
– Moreover, an NRF (National Retail Federation, USA) survey shows that by the end of 2019, 80% of retailers expect to have adopted point-to-point encryption, which protects card data while it is being transmitted. And 89% will have adopted tokenization, which protects information stored in databases. According to BakerHostetler, In 2019, phishing accounted for 38 percent of U.S. companies’ data security incidents.
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Highlights of the Blockchain Supply Chain Market Report:
- Detailed overview of Blockchain Supply Chain Market
- Changing Blockchain Supply Chain market dynamics of the industry
- In-depth market segmentation by Type, Application etc.
- Historical, current and projected Blockchain Supply Chain market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Blockchain Supply Chain Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
Finally, Blockchain Supply Chain Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Blockchain Supply Chain industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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