Vancouver, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The global blockchain supply chain market size is projected to reach USD 102,327.42 Million at a steady CAGR of 63.9% in 2032, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to rising concerns regarding security of information, procurement processes, sales, and approvals of authenticating information and major increase in utilization of blockchain technology in retail, e-commerce, logistics, and food & beverages industries are other factors expected to continue to boost market growth during the forecast period.
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Continuous improvements in technology, increasing adoption of advanced technologies such as Artificial Intelligence, Internet of Things, machine learning, and cloud-based systems are some other factors expected to continue to drive growth of the global blockchain supply chain market during forecast period. Increasingly stringent government regulations supporting automation of processes in the supply chain industry and reduce the effect of middlemen services, and rising focus on transparency and fraud protection in supply chain activities are factors driving adoption of blockchain supply chain solutions globally.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 271 Million |
| CAGR (2023–2032) | 63.9% |
| Revenue forecast in 2032 | USD 102,327.42 Million |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, type, application, end use, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K, BENELUX, Switzerland, China, Japan, South Korea, India, Brazil, Saudi Arabia, UAE, South Africa, Turkey |
| Key companies profiled | IBM Corporation, Oracle Corporation, SAP SE, Microsoft Corporation, Huawei Technologies Co., Ltd., Amazon Web Services Inc., Guardtime Inc., TIBCO Software Inc., Auxesis Group, BTL Group, Accenture PLC, and Omnichain Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Competitive Landscape
The global blockchain supply chain market is highly fragmented, with a large number of small- and medium-sized manufacturers accounting for a major revenue share. Major companies are well-established and engage in various research & development activities and initiatives to develop and deploy new and more efficient technologies. Some prominent players operating in the blockchain supply chain market are:
- IBM Corporation
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Huawei Technologies Co., Ltd.
- Amazon Web Services Inc.
- Guardtime Inc.
- TIBCO Software Inc.
- Auxesis Group
- BTL Group
- Accenture PLC
- Omnichain Inc.
Strategic Development
- In April 2021, IBM Corporation and IPwe entered a partnership to build infrastructure for representing patents as Non-Fungible Tokens (NFTs) and storing records on a blockchain network. Tokenization of Intellectual Property (IP) can enable selling, sharing, commercializing, or otherwise monetizing patents, as well as add new liquidity to the market. IPwe Platform aims to transform the patent asset class by increasing openness and encouraging participation.
- In March 2021, Amazon Web Services partnership with Seraphim Capital announced the launch of a new space start-up assistance program. AWS Space Accelerator, which is a four-week business support program, will select 10 companies to participate, and start-ups receiving monitoring during the accelerator from space domain and technical subject matter experts with deep experience working on AWS.
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Some Key Highlights From Report
- In January 2021, TIBCO Software Inc., which is a global leader in enterprise data, announced complete acquisition of Information Builders, Inc. (ibi), which enhances data management and analytics capabilities of advanced TIBCO Connected Intelligence platform.
- Consortium blockchain segment revenue growth rate is projected to incline rapidly during the forecast period. It provides full control to a particular group that gives access to each member to set rule, cancel incorrect transactions, change balances, and take other acts to increase the efficiency of organization are some factors boosting the market growth of blockchain supply chain.
- Inventory monitoring segment revenue growth rate is projected to incline rapidly during the forecast period. Increasing demand of highly secure data, decentralization of server, and enhancing technology in process tracking and reporting in retail and logistic sector are factor boosting the market growth of blockchain supply chain.
- Asia Pacific revenue is expected to register a rapid CAGR during the forecast period. Rising concerns regarding data security, cyber security, and increasing adoption of blockchain technology in communication, logistics, retail, and e-commerce industries are factors driving growth of the blockchain supply chain market in the region.
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Emergen Research has segmented the global blockchain supply chain market on the basis of component, type, application, end use, and region:
- Component Outlook (Revenue, USD Billion; 2019–2032)
- Platform
- Services
- Type Outlook (Revenue, USD Billion; 2019–2032)
- Public
- Private
- Consortium
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Smart Contracts
- Payment & Settlement
- Product Traceability
- Compliance Management
- Inventory Monitoring
- Others
- End Use Outlook (Revenue, USD Billion; 2019–2032)
- Manufacturing
- Logistics
- Retail
- Healthcare
- Food & Beverages
- Oil & Gases
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Switzerland
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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