Blockchain Supply Chain Market Research Report 2023 & Industry Analysis Till 2028

Byimarcsuraj

According to the latest report by IMARC Group, titled “Blockchain Supply Chain Market Analysis, Growth Size, Share, Industry Trends, Opportunity and Forecast 2023-2028″ reached a value of US$ 560.9 Million in 2021. Looking forward, expects the market to reach a value of US$ 6,288 Million by 2028 exhibiting a CAGR of 46.4% during 2023-2028.

Blockchain Supply Chain Market Overview 

Blockchain is a shared peer-to-peer internet-based technology that synchronizes digital transaction data across networks and shared ledgers to provide a digital database for validated and immutable transactions. It enables companies to track transactions transparently and acts as an open ledger, making every network transaction available in a read-only format. It also helps ensures optimum transparency and streamlined operations, minimizes redundancy and fewer delays, provides a leaner supply chain, improves efficiency and speed, enhances traceability, and eliminates the need for information sharing via mail or other communication platforms. Owing to these benefits, a blockchain supply chain is widely adopted in manufacturing, food, and beverages (F&B), oil and gas, and healthcare across the globe.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends in the Blockchain Supply Chain Market

The market is primarily driven by the widespread adoption of the blockchain supply chain across various industrial verticals such as retail, transportation and logistics, mining, and construction. This can be attributed to the rising demand for security and transparency in supply chain transactions and the growing online tractions. In addition, the increasing use of advanced technologies such as machine learning (ML) and artificial intelligence (AI) in business strategies is resulting in higher product adoption across small and medium enterprises (SMEs), which is contributing to market growth.

Moreover, the rising demand for smart devices among individuals and the penetration of internet subscribers is escalating the use of these devices for product procurement which is providing a positive thrust to the market growth. Besides this, the expanding e-commerce industry and extensive research and development (R&D) activities conducted by leading players are propelling the market growth.

For the competitor segment, the report includes global key players of the Blockchain Supply Chain Market.

Accenture plc, Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Group, Guardtime, Huawei Technologies Co. Ltd., International Business Machines Corporation, Microsoft Corporation, OpenXcell, Oracle Corporation, PixelPlex, SAP SE and TIBCO Software Inc.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

  • Platform
  • Services

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

  • Smart Contracts
  • Payment and Settlement
  • Product Traceability
  • Inventory Monitoring
  • Compliance Management
  • Others

Breakup by Industry Vertical:

  • Retail
  • Manufacturing
  • Food and Beverages
  • Healthcare
  • Oil and Gas
  • Others

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

Key Questions Answered in the Global Blockchain Supply Chain Market Report

• How has the global Blockchain Supply Chain industry performed in the past and how will it perform in the near future?
• What is the impact of COVID-19 on the global Blockchain Supply Chain market?
• What are the key regions in the global Blockchain Supply Chain industry?
• What are the major driving factors and challenges in the global Blockchain Supply Chain market?
• What is the structure of the global Blockchain Supply Chain industry and who are the leading players?
• What is the degree of competition in the market?

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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