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The global blockchain supply chain market size reached US$ 560.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,288 Million by 2028, exhibiting a growth rate (CAGR) of 46.4% during 2023-2028.
Blockchain refers to a shared peer-to-peer technology that synchronizes transaction data across networks and provides a digital database for validated and immutable transactions. Using smart contracts that get automatically triggered when pre-defined business conditions are met, it effectively automates supply chain transactions, thereby removing middlemen and promoting a direct connection between stakeholders. Blockchain supply chain also acts as an open ledger, with every transaction on the network made available in a read-only format for all the involved participants to accurately retrace to its point of origin. Therefore, it ensures optimum transparency at every level of the supply chain management, minimizes the issues encountered during goods transportation and decreases the need for information sharing via mail or any other communication platforms.
The global market is primarily driven by the extensive adoption of blockchain technology in retail supply chain management (SCM). This can be attributed to the growing online transactions, along with the rising demand for security and transparency in supply chain transactions. In line with this, the increasing utilization of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), in business strategies is leading to a higher product uptake across SMEs. The rapid business automation is further propelling the demand for effective tracking of authentication process information, procurement data, and certifications, which, in turn, is providing an impetus to the market. In addition to this, the widespread adoption of smart devices among the masses, coupled with a considerable rise in internet subscribers, is resulting in the widespread usage of these devices for product procurement, therefore creating a positive outlook for the market. Some of the other factors contributing to the market growth include the flourishing e-commerce sector, the augmenting demand for eliminating middlemen in the supply chain, and extensive research and development (R&D) activities conducted by key players.
IMARC Group provides an analysis of the key trends in each sub-segment of the global blockchain supply chain market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, application and industry vertical.
Breakup by Component:
Breakup by Application:
Breakup by Industry Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2022|
|Segment Coverage||Component, Application, Industry Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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