According to new market research report on "Blockchain Supply Chain Market by
Application (Payment & Settlement, Counterfeit Detection, Smart Contracts,
Risk & Compliance Management, and Product Traceability), Provider,
Vertical, and Region - Global Forecast to 2023", The blockchain
supply chain market size is expected to grow from USD 145.0 million in 2018 to
USD 3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87.0%
during the forecast period.
An increasing
need for supply chain transparency and rising demand for enhanced security of
supply chain transactions are expected to drive the market during the forecast
period.
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The smart contract application
segment is projected to grow at the highest CAGR during the forecast period
Blockchain is finding increased application to automate
contract execution in the supply chain management, eliminating the need for
intermediaries. This has facilitated manufacturers, suppliers, and customers to
build a trusted relationship and streamline complex supply chain operations.
The application of smart contract is expected surge with the availability of
enterprise-ready solutions to overcome the existing limitations of contracts in
terms of privacy, scalability, auditability, confidentiality, and performance.
The application and solution providers segment is
expected to grow at the highest CAGR in the global blockchain supply chain
market during the forecast period
By provider, the blockchain supply chain market is
segmented into application and solutions providers, middleware providers, and
infrastructure and protocols providers. These providers offer infrastructure to
develop the blockchain-based platforms. Among these, application and solutions
providers segment is expected to witness the fastest growth owing to the
introduction of technologically advanced blockchain solutions for streamlining
the supply chain management practices.
North America is expected to hold the largest market
size in the supply chain blockchain market during the forecast period
North America is expected to hold the largest market
size in 2018. The region is considered the most advanced in terms of technology
adoption and infrastructure. The wide presence of key industry players of
blockchain technology solutions in this region is the main driving factor for
the blockchain supply chain market. The companies from various verticals, such
as retail and consumer goods, manufacturing, healthcare and logistics, are
major customers to the vendors in the market. APAC, on the other hand, is
expected to record growth at the highest CAGR during the forecast period with
ongoing developments in the major APAC countries, such as China, India,
Singapore, and Japan.
The major blockchain technology vendors include IBM
(US), Microsoft (US), Oracle (US), SAP SE (Germany), AWS (US), Huawei (China),
Bitfury (Netherlands), Auxesis Group (India), TIBCO Software (US), BTL Group
(Canada), Applied Blockchain (UK), Guardtime (Estonia), Nodalblock (Spain),
Peer Ledger (Canada), Blockverify (UK), TransChain (France), RecordsKeeper
(Spain), Datex Corporation (US), Ownest (France), Omnichain (US), Traceparency
(France), Digital Treasury Corporation (China), Chainvine (UK), VeChain
(China), Algorythmix (India), and OpenXcell (US).
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/blockchain-supply-chain.asp
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/blockchain-supply-chain.asp
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