According to the new market research report by IndustryARC titled "Blockchain Market in Supply Chain: By Type (Public, Private and Consortium); By Application (Contract management, Payment systems, Procurement, Provenance, Ownership transfer, Asset Tracking and Inventory Control) and Geography - Forecast (2018-2023)", the market is expected to reach $424.24 million by 2023 with a CAGR of 48.37 % during the forecast period. Large number of companies have been using the blockchain technology for supply chain applications. This factor bolsters the market.
North America has a major share in the Blockchain Market in Supply Chain Market
North America is expected to dominate the Blockchain Market in Supply Chain with a revenue of $131.65 million by 2023. In Asia Pacific, the market is expected to have a CAGR of 56.1% in the coming years. It is beneficial in transforming the payments prospect by offering an economy cost. Digital currency is the latest trend being followed in the market. In the Asia Pacific region, technology has developed with Blockchain. Blockchain technology maintains the transparency of the databases which includes payments, contract management, procurement, etc.
In other economies like Middle East, Africa, and Brazil, the increasing demand for digitization is due to government initiatives through foreign investment in these countries to become the top global economies. This enhances the scope for the blockchain solutions in these countries.
Selected Analysis done in the full Report:
Smart contracts and blockchain technology are the main driving forces for contract management. This in turn drives the market due to better economic efficiencies, saving time and other factors. The manufacturers and their partners have individual transactions in a block that has bills for raw materials, finished goods, quality, proof of origin, etc. A blockchain management ensures the creation of smart contracts, comprising of terms and conditions. Hence, manufacturers and partners can trust the contract and the identity of their counterpart.
The need for product lifecycles has led to various conflicts between the manufacturers and suppliers. But the problem of managing the development of a complex product has resulted in the use of blockchain technology, since it protects the competitor's edge of the manufacturer and supplier, thus propelling the growth of peer to peer technology across the world.
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Excerpts Growth Factors Mentioned in the Full Report:
- Blockchain transactions has become more flexible and many manual tasks are carried out automatically using smart contracts. This reduces the costs and speeds up the processes, which in turn spurs the cryptocurrency market.
- Blockchain technology offers a better transparency for the end users and consumers in the supply chain. It allows the consumers to track and provides assurance of provenance in the trade.
- Programmable blockchain platforms have a decentralized data structure which provides the execution of transaction and data storage in a decentralized manner. The inventory management software keeps a record of the price, date, location, quality, and certification. Technical infrastructure and scalability of the technology are the main features of the Blockchain Market Ecosystem.
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Keyplayers of the Blockchain Market in Supply Chain
IBM Corporation is one of the leading companies in developing blockchain technologies. It has major presence in countries like Japan, US, Europe, China, and Asia Pacific. It operates in business segments such as analytics, cloud, commerce, IT, infrastructure, and security. Deloitte Touche Tohmatsu operates in segments like finanacial advisory, risk advisory, consulting, tax, and audit. T-Mining which has its headquarters in Belgium uses blockchain technology for sharing data and secure file transfer for logistics and support.
Abra
AlphaPoin
Bitfury Group Limited
Bloq
BTL Group Ltd
Chain, Inc
Chainvine
Coinbase
Digital Asset Holding LLC
Digital Treasury Corporation
Ethereum Foundation
Factom
Guardtime
Internation Machine Business Corporation
IBM
Blockcypher, Inc.
Microsoft
Primechain Technologies Pvt. Ltd
Skuchain
Monax
Romit
Provenance Ltd
Others (15+)
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Blockchain Market in Supply Chain is segmented as below
Blockchain technology enables the businesses to work together with more trust. It provides a sharing operating system where the parties involved in an exchange can access the digital record of transactions which are unchangeable.
Blockchain Market in Supply Chain by type
1. Public
2. Private
3. Consortium
Blockchain Market in Supply Chain by Application
1. Contract Management
2. Payment Systems
3. Procurement
4. Provenance
5. Ownership Transfer
6. Asset Tracking and Inventory Control
Blockchain Market in Supply Chain by geography (12+ countries)
Company Profiles
Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.
Related Report:
Blockchain in Healthcare Market :https://industryarc.com/Report/18224/blockchain-in-healthcare-market.html
Blockchain in small and Medium Business :https://industryarc.com/Report/17926/blockchain-market-in-small-medium-business.html
Blockchain Market in Retail :https://industryarc.com/Report/17925/blockchain-market-in-retail.html
What can you expect from the report?
The Blockchain Market in Supply Chain Report is prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume )
12. Country level Analysis (13+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
Does IndustryARC publish country, geography or application based reports in Blockchain Market in Supply Chain ?
Yes, we do have separate reports and database as mentioned below:
1. Americas Blockchain Market in Supply Chain
2. Europe Blockchain Market in Supply Chain
3. Asia pacific Blockchain Market in Supply Chain
4. Contract Management Block Chain Market in Supply Chain
5. Payment systems Block Chain Market in Supply Chain
6. Procurement Blockchain Market in Supply Chain
Talk to one of our sales representative about the full report by providing your details in the link below:
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Does IndustryARC provide customized reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography or product chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other major customizations can be discussed with our team and can provide a separate quote based on your requirements. You can drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business.
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