IMARC Group, a leading market research company, has recently releases report titled “Blockchain Supply Chain Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global blockchain supply Chain market report, growth, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Blockchain Supply Chain Market
Blockchain supply chain refers to the application of blockchain technology in the management and optimization of supply chain processes. It requires establishing a network of participants who collectively validate and maintain the blockchain. It provides a decentralized platform where stakeholders can securely share information, such as orders, invoices, and certifications. It allows for easy auditing and verification of data, which makes it easier to demonstrate compliance with regulations related to quality control, product origin, sustainability, and more.
How Big Is the Blockchain Supply Chain Market?
The global blockchain supply Chain market size reached US$ 560.9 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 6,288 Million on by 2028, exhibiting a growth rate (CAGR) of 46.4% during 2023-2028.
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Global Industry Trends and Drivers:
The increasing use of blockchain supply chains in the pharmaceutical industry to prevent the infiltration of counterfeit drugs by verifying the authenticity of the drugs at every stage represents one of the primary factors propelling the market growth around the world. Moreover, the rising adoption of blockchain in the supply chain of the transportation and logistics industries to streamline the transportation of goods by providing shared and immutable data of all transactions is favoring the growth of the market. Besides this, blockchain is employed in the supply chain of the automotive industry to provide a reliable record of vehicle history, including parts replacements, repairs, and accidents, which can increase transparency for buyers and sellers in the used vehicle market. Along with this, the growing demand for refurbished vehicles is influencing the market positively.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Component:
- Platform
- Services
Breakup by Application:
- Smart Contracts
- Payment and Settlement
- Product Traceability
- Inventory Monitoring
- Compliance Management
- Others
Breakup by Industry Vertical:
- Retail
- Manufacturing
- Food and Beverages
- Healthcare
- Oil and Gas
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Accenture plc, Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Group, Guardtime, Huawei Technologies Co. Ltd., International Business Machines Corporation, Microsoft Corporation, OpenXcell, Oracle Corporation, PixelPlex, SAP SE and TIBCO Software Inc.