Global Cold Chain Based on IoT Blockchain Market Overview:
IoT sensors play an important role in the cold chain by capturing and transmitting environmental monitoring data and analysing transportation routes, proximity alerting, damage control, and so on. These sensors provide real-time visibility and send out alerts on a regular basis. They can also help to improve the safety of pharmaceutical products by eliminating threats caused by human error and increasing real-time transparency. This IoT blockchain solution tracks assets using IoT and a blockchain network. It makes use of a supply chain use case known as cold chain. In the meantime, IoT analytics can be used to provide big data insights, which can be another type of IoT transaction record. All transaction records generated by an IoT transformation for blockchain service are saved to the blockchain ledger. The ledger provides visibility, transparency, and trust to all supply chain network participants. Users can view the history of business transactions in the blockchain ledger, which cannot be changed. The blockchain smart contract is used to check certain business rules during shipping to protect the goods from contamination or damage. Business transactions, such as accepting a shipment and then initiating payment, are handled automatically if all shipping conditions monitored by IoT sensors are met within the parameters of the contract.
Growth Drivers
- Increased Demand for Enhanced Security of Supply Chain Transactions
- Growing Demand for Blockchain Technology in Retail and Supply Chain Management
Roadblocks
Opportunities
- Rising Venture Capital Funding and Investments in Blockchain Technology
- Increasing Government Initiatives
Challenges
- Growing Concerns Regarding Cybersecurity
- Managing the Increasing Data Volume
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are IBM (United States), Accenture (Ireland), Eleks (Estonia), Huawei (China), Microsoft Corporation (United States), Oracle Corporation (United States), Auxesis Group (India), Btl Group (Lithuania), SensiWise (India) and Unicsoft (Scotland). Analyst at AMA Research see United States Players to retain maximum share of Global Cold Chain Based on IoT Blockchain market by 2027. Considering Market by Industry Vertical, the sub-segment i.e. Retail will boost the Cold Chain Based on IoT Blockchain market. Considering Market by Component, the sub-segment i.e. Platforms will boost the Cold Chain Based on IoT Blockchain market.
What Can be Explored with the Cold Chain Based on IoT Blockchain Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Cold Chain Based on IoT Blockchain Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Cold Chain Based on IoT Blockchain
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cold Chain Based on IoT Blockchain market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cold Chain Based on IoT Blockchain market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.