The global post-COVID-19 blockchain supply chain market size is forecasted to grow from USD 253 million in 2020 to USD 3,272 million by 2026, at a Compound Annual Growth Rate (CAGR) of 53. 2% during 2020–2026.
New York, March 11, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Blockchain Supply Chain Market by Offering, Type, Provider, Application, Enterprise Size, Vertical And Region – Global Forecast to 2026” – https://www.reportlinker.com/p05473820/?utm_source=GNW
The major growth drivers for the market include Increasing popularity of blockchain technology in retail and SCM and growing need for supply chain transparency. However, uncertain regulatory status and standards may restrain the market growth.
Among type, hybrid and consortium segment to grow at the highest CAGR during the forecast period
A permissioned blockchain provides a hybrid solution between the low trust offered by public blockchains and the single, highly trusted entity model of private blockchains.The advantage of the hybrid blockchain combines a permissioned that is a private blockchain with a public blockchain, and companies are able to secure background transactions with business partners, while also sharing product information with consumers on an open ledger.
The advantage of access control leading to increase as well as strengthened security has helped hybrid blockchain to increasingly become popular among enterprises and is being implemented by companies, such as Maersk.The use cases of hybrid blockchain in supply chain are increasing among industry verticals, such as eCommerce.
Hence is expected to grow at the highest CAGR.
Large enterprises segment to hold a larger market size during the forecast period
The reduction in infrastructure costs, improvement in business functioning, and sustainability in the intense competition are the key factors that are projected to drive the adoption of blockchain supply chain in large organizations. The investments done by large enterprises in advanced technologies for increasing productivity and efficiency of the company is also a key factor that is projected to drive the adoption of blockchain supply chain in large enterprises.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
Due to the presence of more middle-class societies, APAC has more varied customer demands.Approximately 70% of the world’s container traffic passes through ports in APAC.
Moreover, most APAC businesses reach their markets through complex supply chains that include many intermediaries, such as trading partners and a variety of different paths to market.Supply chains in APAC are often significantly more difficult to manage as compared to other regions of the world.
To reduce these complexities, the adoption of blockchain supply chain in the region is increasing.China, India, Australia, and Singapore are witnessing growth in the number of startups in cryptocurrency and blockchain technology.
Hence, organizations have started joining various conferences to brainstorm and understand the value of blockchain. The increased shift of APAC enterprises toward leaner and agile supply chains with end-to-end visibility by the adoption of the latest technologies is also one of the biggest drivers of blockchain supply chain software and services in the region.
• By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
• By Designation: C-Level Executives: 35%, Directors: 25%, Others: 40%
• By Region: North America: 45%, Europe: 20%, APAC: 30%, Rest of World: 5%
The report includes the study of the key players offering blockchain supply chain solutions and services. It profiles major vendors in the global blockchain supply chain market, including IBM (US), Microsoft (US), SAP SE (Germany), Amazon Web Services (AWS) (US), Oracle (US), Huawei (China), Guardtime (Estonia), Tibco Software (US), Bitfury (Netherlands), Interbit (Canada), Auxesis (India), Vechain Foundation (China), Chainvine (UK), Digital Treasury Corporation (DTCO) (China), Datex Corporation (US), OpenXcell (US), Algorythmix (India) etc.
The report segments the global blockchain supply chain market by offering, type, provider, application, end user, and region.The offering segment comprises platform and services.
The type segment comprises public, private, and hybrid and consortium.The provider segment comprises application providers, middleware providers and infrastructure providers.
The blockchain supply chain market by application includes Asset Tracking, Counterfeit Detection, Payment and Settlement, Smart Contracts, Risk and Compliance Management, and others (Inventory Control and Reward Management).By end user, blockchain supply chain market includes FMCG, Retail and eCommerce, Healthcare, Manufacturing, Transportation and Logistics, Oil, Gas and Mining, and Others (Construction, Agriculture, and Automobile).
The report covers the blockchain supply chain market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America.
The report would help the market leaders and new entrants in the global blockchain supply chain market in the following ways:
1. The report segments the market into various subsegments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across applications and regions.
2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
Read the full report: https://www.reportlinker.com/p05473820/?utm_source=GNW
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