Quadintel published a new report on the Blockchain in Supply Chain Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
A Blockchain is a distributed digital ledger. It records transactions in a series of blocks. It exists in multiple copies, spread over multiple computers, which are called anodes. The ledger is secure because every new block of transactions is linked again to previous blocks in such a way that tampering with it is practically impossible. As it is decentralized, it does not depend on any single entity (Eg:Bank) for safekeeping. The nodes connected to the Blockchain network get updated versions of the ledger as new transactions are carried out.
The global Blockchain in supply chain market is expected to have a significant compounded annual growth rate of 87.0%, and reach a market size of USD 3,314.6 Mn by 2023. North America is expected to dominate the Blockchain in Supply Chain Market during the forecast period.
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COVID-19 Impact Analysis
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
An increasing need for supply chain transparency and increasing demand for enhanced security of supply chain transactions are expected to drive the market during the forecast period. Supply chains across industries and countries will be reimagined, improved, and disrupted by Blockchain technology. Now, there are safer and more efficient ways to connect with business partners and also to track and exchange any type of asset. The ability to use Blockchain technology to create the next generation of digital supply chain networks and platforms will be central to the success of business.
Based on type of industry, the market is segmented into private, public and consortiums; based on the application of the industry, the market is categorized into contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control. Moreover based on the protocols of the industry it is divided into bitcoin, ethereum, ripple consensus network, hyperledger, R3s corda, symbiont, distributed ledgers and others.
The segmentation is also based on the types of industries involved and the market is categorized into banking, financial services and insurance (BFSI), telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others. Each and every segment is examined carefully by factoring in sales, revenue and market size, in order to understand the potential for growth and scope.
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Key growth factors
Blockchain transactions have become more flexible and many manual tasks are carried out automatically using smart contracts. Some of the major factors which are driving the market growth are raising cryptocurrency market capital, initial coin offering (ICO) and faster transactions.
The technology ensures enhanced transparency for consumers in the supply chain. It allows the consumers to trace and give an assurance of origin in the trade.
Threats and key players
Although the Blockchain in Supply Chain Market is expected to have a positive growth globally, still, there are still a few threats to the market. The market constraints involves threat to personal information and high diagnostic cost as a barrier. Blockchain technology has often been compromised, resulting in the theft of millions of dollars worth of cryptocurrencies. The potential risk of hardware or software failure can be another risk in the supply chain. Lack of awareness about the Blockchain and higher cost of investments can restrain market growth during the forecast period.
The Blockchain market ecosystem comprises vendors, such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC, Ethereum Foundation, Guardtime, Internation Machine Business Corporation, IBM, Blockcypher, Inc., Microsoft, Primechain Technologies Pvt. Ltd, Skuchain, Romit and Provenance Ltd, among others.
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Whats covered in the report?
1. Overview of the global Blockchain in Supply Chain Market
2. Market drivers and challenges in the global Blockchain in Supply Chain Market
3. Market trends in the global Blockchain in Supply Chain Market
4. Historical, current and forecasted market size data for the global Blockchain in Supply Chain Market
5. Historical, current and forecasted market size data for the types of global Blockchain in Supply Chain Market (private, public and consortium)
6. Historical, current and forecasted market size data by application of industry in global Blockchain in Supply Chain Market (contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control)
7. Historical, current and forecasted market size data by protocol of industry in global Blockchain in Supply Chain Market (bitcoin, ethereum, ripple consensus network, hyperledger, R3s corda, symbiont, distributed ledgers, and others)
8. Historical, current and forecasted market size data by industries involved in the global Blockchain in Supply Chain Market (Banking, Financial services and Insurance (BFSI),Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce, and others)
9. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for global Blockchain in Supply Chain Market
10. Analysis of the competitive landscape and profiles of major companies operating in the market
11. Key recent developments in the Blockchain in Supply Chain Market
Why buy?
1. Get a broad understanding of the global Blockchain in Supply Chain Market and its segmentation (by type of industry: private, public and consortium; by industry applications: contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control, by industry protocols: bitcoin, ethereum, ripple consensus network, hyperledger, R3s corda, symbiont, distributed ledgers and others, by industries involved: Banking, Financial services and Insurance (BFSI), Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)
2. Get region-specific drivers and challenges affecting the global Blockchain in Supply Chain Market and its segmentation (by type of industry: private, public and consortium; by industry applications: contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control, by industry protocols: Bitcoin, Ethereum, Ripple Consensus Network, Hyperledger, R3s Corda, Symbiont, Distributed ledgers and others, by industries involved: Banking, Financial services and Insurance (BFSI),Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)
3. Devise market-entry strategies by understanding the factors driving the growth of the market
4. Recognize major competitors’ business and market dynamics, and respond accordingly
5. Get stakeholder and technology analysis, relevant companies profiles and also start-ups profiles
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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