About Blockchain in Supply Chain
Blockchain technology is integrating rapidly into many industries across various functions, in some cases revolutionizing processes and transactions. Blockchain has the numerous potential to become the universal operating system supply chain, growing security, improving transparency, and creating scalability. The market is rising in relation to the increasing complexities due to the time-bound deliveries and customization of the supply chain
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 42.37% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service 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. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Blockchain in Supply Chain market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abra (United States), AlphaPoint (United States), Bitfury Group Limited (United States), Bloq (United States), BTL Group Ltd (Canada), Chain, Inc (United States), Chainvine (United Kingdom), Coinbase (United States), Digital Asset Holding LLC (United States), Digital Treasury Corporation (Taiwan) and Ethereum Foundation (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Factom (United States), Guardtime (Netherlands), IBM (United States), Blockcypher, Inc. (United States), Microsoft (United States), Skuchain (United States) and Monax (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Blockchain in Supply Chain market by Type (Public, Private and Consortium), Application (Contract management, Payment systems, Procurement, Provenance, Ownership transfer, Asset tracking and Inventory control) and Region.
On the basis of geography, the market of Blockchain in Supply Chain has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. If we see Market by End User, the sub-segment i.e. Retail and Consumer Goods will boost the Blockchain in Supply Chain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand in smart contracts and Blockchain analytics emergence
Market Growth Drivers:
Growing need for transparency in the supply chain, Increase in the demand for supply chain transactions with enhanced security and Increase in security concerns with respect to cargo theft and mishandling
Challenges:
Lacking technical knowledge and Availability of technological substitute for tracing and tracking supply chain
Restraints:
Lacking awareness of the blockchain technology and Uncertainty in the regulatory standards and status
Opportunities:
Increase in the need for automating supply chain activities and eliminating the middlemen and Integration of blockchain technology with regard to the Internet of Things
Market Leaders and their expansionary development strategies
In August 2022, InfStones and Oracle collaborated to integrate InfStones' leading blockchain development platform with Oracle Cloud Infrastructure (OCI) to accelerate Web3 development. This collaboration helps provide key insights that drive the design, development, and deployment of Web3 applications around the world.
In October 2018, Oracle launched Oracle Blockchain Applications Cloud to help customers increase trust and provide agility in transactions across their business networks.
Key Target Audience
Blockchain in Supply Chain Providers, Blockchain in Supply Chain Association, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.