Blockchain Supply Chain Market Set to Expand at a Staggering 80.2% CAGR by 2025

The global blockchain supply chain market grows due to rising demand for transparency and enhanced security in supply chain transactions.

According to the report published by Allied Market Research, the global blockchain supply chain market was pegged at $93.16 million in 2017 and is expected to hit $9.85 billion by 2025, registering a CAGR of 80.2% from 2018 to 2025. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

The Blockchain Supply Chain Market focuses on the integration of blockchain technology to enhance transparency, security, and efficiency in supply chain operations. Blockchain offers benefits like traceability, fraud prevention, and streamlined processes by creating an immutable, decentralized ledger.

This market is driven by the need to improve supply chain visibility, reduce operational costs, and ensure product authenticity.

Increase in need for supply chain transparency and rise in demand for improved security of supply chain transactions drive the growth of the global blockchain supply chain market. On the other hand, lack of awareness about this technology and dearth of proficient workforce curtail down the growth to certain extent.

However, proliferation of the e-commerce industry is projected to usher in a number of opportunities in the near future.

Covid-19 has negatively impacted the global blockchain supply chain market. The outbreak of the disease has struck at the core of global value chain hub regions, including the US, Europe, and China.

The pandemic has severe insinuations for international production networks and may leave its impact for years down the line. But, at the same time, blockchain is expected to save the supply chain from COVID-19.

With blockchain on board, users tend to gain visibility throughout the supply chain and can get going with monitoring for factors such as quality control, performance standards, and worker benchmarks. Amidst COVID-19 crisis, knowing exactly what’s happening at vital parts of the supply chain would help thwart a bad situation from waning off.

By component, the platform segment accounted for more than four-fifths of the global market revenue in 2017 and is expected to retain its dominance by the end of 2025. At the same time, the services segment would manifest the fastest CAGR of 87.6% till 2025.

By industry vertical, the retail segment contributed to nearly one-fourth of the global market share in 2017 and is anticipated to lead the trail throughout the forecast period. The healthcare segment, on the other hand, would portray the fastest CAGR of 83.2% during the study period.

By geography, North America garnered the major share in 2017, holding nearly three-fifths of the global market. Simultaneously, the region across Asia-Pacific would manifest the fastest CAGR of 90.4% during the estimated period.

The key market players analyzed in the global blockchain supplychain market report include Microsoft Corporation, Huawei Accenture Plc., Oracle Corporation, TIBCO Software, SAP SE, IBM Corporation, AWS Inc., BTL Group, and Auxesis Group. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

Source : WhaTech - Oct 11, 2024