Blockchain Supply Chain Market Research

Growing need for supply chain transparency & expansion of the e-commerce sector are anticipated to propel the growth of the blockchain supply chain market.

PORTLAND, PORTLAND, OR, UNITED STATES, March 23, 2023 /EINPresswire.com/ -- The global blockchain supply chain market, which was valued at $93.2 million in 2017, is predicted to reach $9,852.9 million by 2025, rising at a CAGR of 80.2% from 2018 to 2025, according to the analysis.

The worldwide blockchain supply chain market has grown as a result of rising demand for supply chain transparency and increased security of supply chain transactions. On the other side, a lack of knowledge about this technology and a lack of a competent labour partially impede expansion. Yet, the growth of the e-commerce sector is anticipated to open up a number of prospects for the sector.

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Based on component, the platform segment contributed to more than four-fifth of the total market share in 2017 and would maintain its leadership status till 2025. Its capability of providing improved efficiency along with enhanced security and transparency has worked as the major driving factor behind its growth. At the same time, the services segment would grow at the fastest CAGR of 87.6% during the study period.

Based on industry vertical, the retail segment accounted for nearly one-fourth of the total market share in 2017 and is expected to maintain its dominance throughout the estimated period. Tremendous efforts being taken by retail organizations to enhance customer experience and satisfaction have propelled the growth of the segment. Simultaneously, the healthcare segment is anticipated to showcase the fastest CAGR of 83.2% through 2018–2025.

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Latest Trends in Blockchain Supply Chain Market:

• Adoption by major players: Large corporations, such as Walmart and Maersk, were adopting blockchain technology for their supply chain operations. This was driving wider adoption of blockchain across the industry.

• Integration with IoT: The integration of blockchain with IoT (Internet of Things) devices was allowing for greater visibility and traceability in the supply chain. This was enabling companies to track products in real-time, from production to delivery.

• Use of smart contracts: Smart contracts were being used to automate supply chain processes, such as payment and delivery. This was helping to reduce costs and increase efficiency.

• Focus on sustainability: Blockchain was being used to increase transparency in supply chains, particularly with regard to sustainability. This was enabling companies to track the environmental and social impact of their products.

• Emergence of new blockchain platforms: New blockchain platforms were emerging that were specifically designed for supply chain management. These platforms were offering features such as real-time tracking, traceability, and smart contract automation.

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Based on geography, the North America region held the largest share in 2017, contributing to nearly three-fifth of the total market. Strong presence of market players and technological developments in the region have driven the growth. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 90.4% during the forecast period.

Leading market players analyzed in the global blockchain supply chain market report include Microsoft Corporation, BTL Group, Huawei Accenture Plc., Oracle Corporation, SAP SE, TIBCO Software, IBM Corporation, AWS Inc., and Auxesis Group. These players have adopted various market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to strengthen their foothold in the industry.

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David Correa
Allied Analytics LLP
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