Industry Background:
Blockchain is a distributed ledger technology (DLT) that enables participants in a distributed network to maintain a copy of an immutable ledger of transactions and allows transactions to be executed without the need for a third party. It helps the retailers to better track the origin of stock, gives them better control over what they sell, and provides assurances for food safety among other applications. It is useful for controlling supply chains as changes to data such as manufacturing dates and locations can be tracked.This growth is primarily driven by Rising Adoption of Blockchain Technology in the Retail Industry
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Business Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as IBM (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Amazon Web Services, Inc. (United States), Bitfury (Netherlands), Auxesis Group (India), Cegeka (Netherlands), BTL (Canada) and Guardtime (Estonia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2018, IBM Corporation and Maersk partnered to develop a technology shipping solution named as TradeLens. The solution aims to promote secure and efficient global trade by using DLT in the supply chain.
On 3rd May 2019, Microsoft announced the launch of Azure Blockchain Service, which simplifies the formation, management, and governance of consortium blockchain networks.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Trend of Blockchain as a Service
Market Growth Drivers:
Rising Adoption of Blockchain Technology in the Retail Industry, Growing Need to Prevent Data Manipulation and Increasing Efficiency and Speed in Retail and Supply Systems
Challenges:
Lack of Awareness about Blockchain Technology
Restraints:
Uncertain Regulatory and Compliance Environment and Increase in Counterfeit Products
Opportunities:
Developments in the Trade and Retail Sector and Rapid Digitalization and Reduced Total Cost of Ownership
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Blockchain in Retail Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Blockchain in Retail Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Blockchain in Retail players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Blockchain in Retail Study Sheds Light on
The Blockchain in Retail Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blockchain in Retail industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain in Retail industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.