Industry Overview of Blockchain Supply Chain Market
A blockchain supply chain is an approach to manage and track the flow of goods and information across the supply chain network. It provides a transparent and secure record of every transaction and movement within the supply chain ecosystem. It assists in offering enhanced trust and efficiency as compared to traditional supply chain systems. It aids in automating various processes, such as procurement, inventory management, shipping, and payment verification. Besides this, it enables real-time tracking of goods from the origin to the destination, enhances traceability, and allows businesses and consumers to verify the authenticity and ethical sourcing of products.
How Big Is the Blockchain Supply Chain Market?
The global blockchain supply Chain market size reached US$ 560.9 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 6,288 Million on by 2028, exhibiting a growth rate (CAGR) of 46.4% during 2023-2028.
Global Industry Trends and Drivers:
Presently, the rising demand for enhanced supply chain transparency and security represents one of the primary factors contributing to the growth of the market. Additionally, the increasing adoption of the blockchain supply chain to accurately track the environmental impact of operations and identify areas for improvement is strengthening the growth of the market. Apart from this, the growing demand for blockchain supply chain to reduce the risk of errors in a business is positively influencing the market. Moreover, the increasing adoption of blockchain supply chain solutions among businesses to ensure the traceability and authenticity of their products is bolstering the growth of the market. Furthermore, the rising utilization of blockchain technology to streamline complexities and provide uninterrupted supply chain solutions is supporting the growth of the market.
What Is Included In Market 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
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are 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.
