Global Blockchain Market in Supply Chain: Demand Analysis and Growth Forecast
According to a recent business publication by IndustryARC, the global Blockchain In Supply Chain Market was around $70 million – $75 million in 2018, and the opportunities will be growing at a radical CAGR of around 50% during the forecast period 2019-2025. The analyst of the report pinpoints exponential growth of the e-commerce industry in the past decade, tireless efforts by suppliers to increment efficiency, and opportunities with greater trackback functionality as some of the key drivers of the exceptional prospects shown by blockchain in the supply chain. The information is presented in a new market research report from IndustryARC, titled: “Blockchain Market in Supply Chain: By Type (Public Blockchain, Private Blockchain, Others); By Product (Origin of That Product, Compounds, others); By Application (Contract Management, Procurement, others); By End-users (Marketing and Advertising, Drugs and Healthcare, others) & By Geography – Forecast (2019 – 2025).”
The blockchain is one of the exploring technologies along with artificial intelligence and machine learning to eradicate the inefficiencies and to improve the supply chain management (SCM). The blockchain is a pioneering solution for the future of SCM. It deals with the provenance tracking of products using embedded sensors and RFID tags. Additionally, it acts as a centralized database with complicated records which is less corruptible as well. Cryptocurrency, Bitcoin is the noticeable use of blockchain. The blockchain is a digital ledger which is used for major applications such as in contract management, payment systems, provenance, procurement, ownership transfer and in asset tracking and inventory control applications.
Global Blockchain In Supply Chain Market: Leading Segments
Payment application holds the major share in the Blockchain In Supply Chain Market and is estimated to grow at a profitable CAGR of around 32% – 35% over the forecast period 2019-2025. Integrated payment solutions reduce the time gap between ordering and payment processing, besides eliminating the complications involved in the international and domestic trade agreement and also prevent illegal payments involved in worldwide business deals. Increasing preference for accurate payment processing is influencing the growth of payment application in Blockchain In Supply Chain Market.
On the basis of geographical analysis provided in the IndustryARC market research report, North American region held a major share of around 37% of the total demand in the Blockchain In Supply Chain Market in 2018. The analyst detects that IBM, Intel, Oracle presence in this region is increasing its share among other regions. Mobility Open Blockchain Initiative (MOBI) launched by automakers such as Renault, Ford, GM, and BMW is further promoting blockchain for the benefit of both industry and consumers.
Global Blockchain In Supply Chain Market Trends
- Cost reduction, transparency, traceability, scalability offered by blockchain technology reduces the delays and disputes associated in the supply chain and also improves the efficiency in a supply chain industry
- Blockchain domineering role in the food supply chain and automotive supply chain are acting as growth promoting factors of Blockchain In Supply Chain Market
- Combination of blockchain with the internet of things real-time monitoring redefining the supply chain by enhancing the track and trace accuracy of products. IoT adoption and commercial use of blockchain in organizations are driving the growth.
Global Blockchain Market in Supply Chain: Competitive Landscape
- Some of the major companies identified in the report that are currently holding majority shares in the global Blockchain In Supply Chain Market are Microsoft, IBM, Oracle, T-Mining, DTCO, Deloitte, Prime chain, Veem, Guardtime, BTL, Ripple, OpenXCell
View Full Table of Contents of Blockchain In Supply Chain Market :
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What can you expect from the report?
The Blockchain In Supply Chain Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Blockchain In Supply Chain Market Size by Product Categories & Application
2. Blockchain In Supply Chain Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Blockchain In Supply Chain Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Blockchain In Supply Chain Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Blockchain In Supply Chain Market Strategic Analysis
18. Blockchain In Supply Chain Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Blockchain In Supply Chain Market Revenue and Volume Analysis
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.