Blockchain In Supply Chain Market Key Competitors Analysis with Recent Trends, Size, Industry Share and Regional Forecast to 2027
Market Synopsis
According to the recent comprehensive research by
Market Research Future Reports (MRFR), the worldwide Blockchain
in Supply Chain Market Share is predicted to value from USD 81.40 million in
2017 to USD 3,485.25 million, prospering at a CAGR of 87.0% while the
assessment tenure from 2021 to 2027. The growing need for developed security of
supply chain transactions is the primary factor driving the global blockchain
in supply chain market 2020. The blockchainoffers connectivity which acts as an
important factor of market expansion. Moreover, it also offers reduced
expenses, provenance tracking, which magnifies the demand. In addition,
blockchain also allows access to massive databases from various places with the
least amount of exposure of data. Additionally, it is also used to plan,
regulate and perform a product flow for basic material and preparing through a
dispensation to the consumers in the most cost-effective way.
are IBM Corporation (US), Ripple (US),
Chain, Inc.(US), Abra, Inc (US)., Coinbase (US), Microsoft Corporation
(US), Earthport PLC (UK), Bitfury Group ( The Netherlands), Blockchain
Tech Ltd However, the instability in monitoring standards may cause a hindrance
in the market enlargement.
The pandemic, COVID-19 has resulted in
a significant change in the market. A definite valuation of elements boosting
and restricting the market in COVID-19 environment has been scrutinized. We
will provide COVID-19 impact analysis with the report.
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Market
Segmentation
The worldwide blockchain in supply
chain market can be divided on the grounds of provider, application, vertical,
and region.
On the grounds of the provider, the
worldwide blockchain in supply chain market can be divided into middleware
providers, infrastructure, protocol providers, and application &
solution providers.
On the grounds of application, the
worldwide blockchain in supply chain market can be divided into risk & compliance
management, payment & settlement, smart contracts, counterfeit
detection, product traceability, and others.
On the grounds of vertical, the
worldwide blockchain in supply chain market can be divided into manufacturing,
logistics, healthcare and life sciences, oil and gas, retail and consumer
goods, and others.
On the grounds of the region, the
worldwide blockchain in supply chain market can be divided into North
America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional
Description
In-depth scrutiny of regions, which
consist of North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
has been carried out. The global blockchain in supply chain market is expected
to be reigned by North America during the assessment period. North America is
technically evolved and is one of the fastest adopters of innovative
technologies. Besides, the infrastructure of North America is completely
developed, which enhances the market growth. Moreover, the presence of
established players in the region plays a very crucial role in market
expansion. Furthermore, the latest technologies like IoT and AI are gaining
fame which is likely to increase market growth. Among all nations, the US is
estimated to play the most pivotal role in dilating the market.
On the other hand, the Asia-Pacific is
foreseen to boost at the swiftest pace during the assessment period. Countries
like South Korea, China, and Japan are likely to play the most pivotal role in
the enlarging the region. However, the narrow technical knowledge and the lack
of awareness in the APAC region can impede the market growth during the review
period.
The outbreak of COVID-19 is likely to
change the market landscape of many regions. Several markets have been affected
because of observation of nationwide lockdown in various countries.
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Key
Players
The established players of the market are
IBM Corporation (US), Ripple (US), Chain, Inc.(US), Abra, Inc (US)., Coinbase
(US), Microsoft Corporation (US), Earthport PLC (UK), Bitfury Group ( The
Netherlands), Blockchain Tech Ltd (UK)., Digital Asset Holdings (US), and
Deloitte, Inc. (the UK).
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