This market research report delves into the global Blockchain in Supply Chain market, providing extensive insights into the key dynamics of the market. It covers various aspects of the Blockchain in Supply Chain market, including its segmentation by providers, applications, verticals, and regions. The report identifies major players in the global Blockchain in Supply Chain market and is prepared by Report Ocean Research.
Request To Download Free Sample of This Strategic Report: https://www.reportocean.com/industry-verticals/sample-request?report_id=IR166
Market Growth
The global Blockchain in Supply Chain market is set for significant growth, with a projected Compound Annual Growth Rate (CAGR) of approximately 60% during the forecast period. The market’s growth is attributed to the increasing demand for understanding customer usage patterns and optimizing network services. Blockchain technology is well-suited for applications in supply chain management due to its enhanced security and traceability features.
Regional Trends
In 2018, North America accounted for the largest share of the global Blockchain in Supply Chain market. This is due to key players like IBM and Microsoft continuing to invest in blockchain technology, driving increased adoption in supply chain management. Prominent North American enterprises, such as Bumble Bee Foods, are already using blockchain technology for product traceability. The Asia Pacific region is expected to experience the fastest growth rate due to growing investments in blockchain-based start-ups.
Market Segmentation
Providers
The global Blockchain in Supply Chain market can be segmented based on providers, including:
- Application Providers
- Middleware Providers
- Infrastructure Providers
The application providers segment is estimated to hold the largest market share and is expected to witness significant growth at the highest Compound Annual Growth Rate (CAGR).
Applications
The market can also be segmented based on applications, including:
- Provenance Tracking
- Payment & Settlement
- Smart Contracts
- Inventory Management
- Counterfeit Detection
- Compliance Management
- Others
Among these applications, provenance tracking is estimated to hold the largest market share in 2019, while smart contracts are anticipated to experience the highest growth rate during the forecast period.
Verticals
The market can be segmented based on verticals, including:
- Retail & e-Commerce
- Manufacturing
- Healthcare & Life Sciences
- Logistics
- Oil & Gas
- Others
The retail & e-commerce segment is expected to hold the largest market share, and the healthcare & life sciences segment is predicted to grow at the highest CAGR during the forecast period.
Leading Vendors
Competitive Analysis
The report provides a competitive analysis of the Blockchain in Supply Chain market, focusing on key players in the industry. These players employ various strategies to maintain a competitive edge, including mergers & acquisitions, collaborations & partnerships, and joint ventures.
Major Vendors
Some of the major vendors in the Blockchain in Supply Chain market include:
- IBM
- SAP
- Microsoft
- Oracle
- AWS
- Huawei
- TIBCO Software
- Auxesis Group
- Bitfury Group
IBM has been a pioneer in recognizing the potential of blockchain technology in supply chain management, with several projects in development and pilot stages.
Benefits of Blockchain in Supply Chain
Greater Scalability
Blockchain technology provides greater scalability to supply chain management systems, allowing for more efficient handling of growing demands and data volumes.
Increased Innovation
Blockchain in supply chain fosters innovation by enabling new business models, enhancing traceability, and supporting real-time data sharing.
Enhanced Transparency and Security
The technology improves transparency and security, increasing trust among participants and enhancing supply chain efficiency.
Market Challenges
Although Blockchain in Supply Chain offers numerous advantages, it also faces challenges such as data control concerns, security risks, and competition from cloud services.
About Report Ocean
Report Ocean is a leading provider of market research reports, known for delivering informative and comprehensive research reports. The company is committed to providing both quantitative and qualitative research results, offering in-depth knowledge to inform strategic business decisions. Utilizing cutting-edge technology, analysis tools, unique research models, and years of expertise, Report Ocean helps clients exceed their expectations.