Global blockchain supplychain market was valued at $ 85.7 million in 2018 and is projected to grow at a CAGR of 80.4% to reach $ 2674.9 million by 2024
NEW YORK, July 8, 2019 /PRNewswire/ --
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Global blockchain supplychain market was valued at $ 85.7 million in 2018 and is projected to grow at a CAGR of 80.4% to reach $ 2674.9 million by 2024, on account of growing demand for transparency of the supplychain. Owing to globalization and rising internet penetration, enterprises and customers do not have clear visibility of all the members present in management. Blockchain disruption in supplychain management can solve the problem of lack of transparency and accountability. Blockchain is a decentralized network that works without a single authority and records information such that the information can be viewed by its members but can't be altered, once it is recorded in the system.
Global blockchain supplychain market can be segmented based on type, provider, application, end user industry and region.Based on application, global blockchain supplychain market can be segmented into payment & settlement, counterfeit detection, product traceability, smart contracts, risk & compliance management and others.
To automate contract execution and eliminate the need for intermediaries is driving demand for blockchain in smart contract segment, which is anticipated to witness the fastest growth during forecast period.In terms of provider, the market can be segmented into application & solution provider, middleware provider and infrastructure & protocols provider.
Application & solution provider is expected to grow at the highest rate due to the introduction of blockchain for streamlining supplychain management activities.
Regionally, blockchain supplychain market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa.In 2018, North America accounted for a significant share in global blockchain supplychain market as the countries in the region are readily adopting innovative technologies.
Moreover, presence of leading vendors in the region is further expected to positively influence North America blockchain supplychain market until 2024.
The major players operating in global blockchain supplychain market Oracle Corp., Amazon Web Services, SAP SE, Microsoft Corporation, IBM Corporation, Intel Corp., Amazon Inc., NVIDIA Corp., Wipro Ltd., Huawei, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Blockchain Tech Ltd. started offering commercial blockchain solutions to business with advanced trading and settlement needs.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
-- To analyze and forecast the market size of global blockchain supplychain market.
-- To classify and forecast global blockchain supplychain market based on type, provider, application, end user industry and regional distribution.
-- To identify drivers and challenges for global blockchain supplychain market.
-- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global blockchain supplychain market.
-- To conduct pricing analysis for global blockchain supplychain market.
-- To identify and analyze the profile of leading players operating in global blockchain supplychain market.
Some of the leading players in global blockchain supplychain market include Oracle Corp., Amazon Web Services, SAP SE, Microsoft Corporation, IBM Corporation, Intel Corp., Amazon Inc., NVIDIA Corp., Wipro Ltd., Huawei, etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated the market size of global blockchain supplychain market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
-- Blockchain supplychain application providers, service providers
-- Research organizations and consulting companies
-- Government bodies such as regulating authorities and policy makers
-- Organizations, forums and alliances related to blockchain supplychain
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global blockchain supplychain market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
-- Market, By Type:
o Public Blockchain
o Private Blockchain
o Consortium Blockchain
-- Market, By Provider:
o Infrastructure & Protocols Providers
o Application & Solution Provider
o Middleware Provider
-- Market, By Application:
o Payment & Settlement
o Product Traceability
o Smart Contracts
o Counterfeit Detection
o Risk & Compliance Management
o Others
-- Market, By End User Industry:
o Retail
o Oil & Gas
o Healthcare
o IT & Telecom
o Others
-- Market, By Region:
o North America
United States
Canada
Mexico
o Europe
United Kingdom
Germany
France
Spain
Italy
Rest of Europe
o Asia Pacific
China
Japan
South Korea
India
Australia
Rest of APAC
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Qatar
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global blockchain supplychain market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
-- Detailed analysis and profiling of additional market players (up to five).
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