Blockchain Supply Chain Market Research

Efficiency gains, transparency enhancement, fraud prevention, and decentralized collaboration are driving the Blockchain Supply Chain market growth.

PORTLAND, OREGON, UNITED STATES, August 10, 2023/EINPresswire.com/ -- The size of the global Blockchain Supply Chain Market was $93.16 million in 2017 and is anticipated to rise to $9,852.91 million by 2025, at a CAGR of 80.2%.

Some of the reasons anticipated to propel the growth of the blockchain supply chain market include the rise in demand for supply chain transparency, the expansion of the e-commerce sector, and the rise in demand for improved supply chain transaction security. By substituting secure digital records for the middleman, blockchain technology decentralizes the management of transactional processes. Instead of being handled by a central middleman, blockchain synchronizes all transactions and data across the supply chain network.

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A significant trend in the Blockchain Supply Chain market is the heightened focus on transparency and traceability. Blockchain technology's decentralized and immutable ledger enables real-time tracking of goods and transactions across the supply chain. This trend is particularly crucial in industries where provenance, authenticity, and compliance play a vital role, such as food, pharmaceuticals, and luxury goods. Companies are adopting blockchain solutions to create transparent supply chain networks, providing consumers and stakeholders with verifiable information and boosting trust.

The integration of blockchain in supply chain management is leading to streamlined logistics and improved operational efficiency. By enabling secure and automated smart contracts, blockchain minimizes intermediaries, reduces paperwork, and accelerates processes. This trend is especially beneficial in optimizing cross-border trade and reducing delays. Blockchain's ability to provide real-time updates and accurate data helps companies make informed decisions promptly, leading to smoother operations and cost savings.

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The Blockchain Supply Chain market is witnessing a growing emphasis on sustainability and responsible sourcing. With increasing consumer demand for ethically produced goods and environmentally friendly practices, blockchain technology is being leveraged to track and verify the origins of raw materials, ensuring adherence to sustainability standards. This trend supports companies' efforts to demonstrate their commitment to social and environmental responsibilities, ultimately enhancing brand reputation.

Collaborative ecosystems powered by blockchain are gaining momentum in the supply chain sector. Blockchain enables secure data sharing and collaboration among various stakeholders, including suppliers, manufacturers, distributors, and retailers. This trend promotes real-time visibility, data accuracy, and seamless communication throughout the supply chain network. As more organizations recognize the advantages of interconnected supply chain ecosystems, blockchain is poised to play a pivotal role in fostering collaboration and value creation.

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Many enterprises are expected to enter the market in near future with the expected lucrative growth of the market. Some of the key market players profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, AWS Inc. Huawei Accenture Plc., Auxesis Group, TIBCO Software, and BTL Group. The study also includes blockchain supply chain market trends, analysis, and future estimations to determine the imminent investment pockets.

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David Correa
Allied Analytics LLP
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