Blockchain Supply Chain Market Global Trends and Forecast Report 2023-2028

Industry Overview of Blockchain Supply Chain Market

IMARC Group has recently released a new research study “Blockchain Supply Chain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the Blockchain Supply Chain Industry?

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.

What is a Blockchain Supply Chain?

Blockchain technology is a decentralized and peer-to-peer internet-based system that enables the synchronization of digital transaction data across networks and shared ledgers. This technology serves as a digital database for secure and immutable transactions. By leveraging blockchain, companies can achieve transparent transaction tracking as it acts as an open ledger, making all network transactions accessible in a read-only format. Blockchain technology offers several advantages, including enhanced transparency, streamlined operations, reduced redundancy, and fewer delays. It enables a leaner supply chain by eliminating intermediaries and facilitating direct peer-to-peer transactions. The use of blockchain improves overall efficiency, speeds up processes, enhances traceability, and eliminates the need for traditional information sharing methods like mail or other communication platforms. Due to these benefits, blockchain is widely adopted in various industries, including manufacturing, food and beverages (F&B), oil and gas, and healthcare, among others. The implementation of blockchain in supply chains across these sectors has proven to be highly valuable in ensuring secure and efficient transactions.

What are the key driving factors in the blockchain supply chain Market?

The growth of the blockchain supply chain market is primarily driven by its widespread adoption across various industries such as retail, transportation and logistics, mining, and construction. This is fueled by the increasing need for security and transparency in supply chain transactions, as well as the growing trend of online transactions. Furthermore, the integration of advanced technologies like machine learning (ML) and artificial intelligence (AI) into business strategies is driving the adoption of blockchain supply chain solutions, particularly among small and medium enterprises (SMEs). The rising demand for smart devices and the increasing number of internet subscribers are also contributing to market growth. These factors have led to the use of smart devices for product procurement, creating a positive impact on the market. Additionally, the expanding e-commerce industry and the significant investment in research and development (R&D) by key market players are driving the growth of the blockchain supply chain market.

who are the key players/companies in the global blockchain supply chain market?

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.

Report 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

By Geography:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

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.

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