NEW YORK, March 7, 2022 /PRNewswire/ -- The market share of the Blockchain Market in Supply Chain Industry is expected to increase by USD 3.32 billion from 2021 to 2026 at an accelerated CAGR of 50.13%, according to the recent market study by Technavio.
Learn More about Key Driver & Challenge of the Market-
The growing number of cargo theft is supporting the blockchain market growth in the supply chain industry. However, blockchain technology can help in reducing cargo thefts. This is because once the information is stored, it cannot be changed. This helps in ensuring the safety of cargo and easing the tracking of products during transitions, which will positively impact the growth of the market in focus.
Blockchain technology is typically developed and customized to suit the requirements of individual companies. Hence, it is expensive to purchase or develop it in-house. As every transaction is stored in the ledger, the amount of data in the blockchain increases rapidly, depending on the frequency and number of transactions. Thus, blockchain technology needs a highly advanced solution, which increases the cost.
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Geographical Analysis
North America will account for 45% of the market's growth during the forecast period. The adoption of blockchain technology among enterprises for the secure exchange of bill of lading-related information, as well as for settling freight, repair, and lease costs, will drive the blockchain market growth in the supply chain industry in the region during the forecast period. The US and Canada are the key countries for the blockchain market in the supply chain industry in North America.
Segmentation by Application (In-Scope/Out-of-Scope)
The market vendors should focus on grabbing business opportunities from the transportation segment under the application category, as it accounted for the largest market share in the base year. Blockchain technology acts as additional security to core processes in the transportation and logistics industry. Blockchain technology in the supply chain will optimize the entire supply chain, which will drive its market growth.
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Highlights-
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Vendor Insights-
The blockchain market in the supply chain industry is fragmented, and the vendors are deploying organic and inorganic growth strategies such as to compete in the market. The key offerings of some vendors are listed below:
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Blockchain Market in Supply Chain Industry Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 50.13% |
Market growth 2022-2026 |
USD 3.32 billion |
Market structure |
Fragmented |
YoY growth (%) |
40.04 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 45% |
Key consumer countries |
US, China, UK, Germany, and Canada |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Accenture Plc, Amazon.com Inc., Capgemini SE, Deloitte Touche Tohmatsu Ltd., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, and Tencent Holdings Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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