Global Blockchain Supply Chain Market Would Surpass US$6.5 Billion by 2027: Absolute Markets Insights

The technology would witness increase in adoption with rising need for transparency across the logistics industry: says Absolute Markets Insights

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Absolute Markets Insights

Mar 06, 2019, 11:00 ET

PUNE, India, March 6, 2019 /PRNewswire/ -- With rising focus towards operational process optimization, more companies are looking to have better control on their supply chain in order to track and efficiently manage the flow of raw materials, finished and semi-finished goods. On one hand where higher level of visibility prevents cases of product damage, steal, theft and counterfeiting of products, the same, on the other hand, has potential to optimize cost at different stages. Transparency in handovers at various checkpoints in the supply chain would help the manufacturers and distributors in assessing their current procedures and improving the same to provide their consumers with products in a standardized manner. Global blockchain supply chain market is expected to surpass US$6.5 billion by 2027, growing at a CAGR of 60%. The technology has also been gaining notable adoption in food and beverage industry owing to the complex nature of value chain and more number of companies coming up with solutions that are specifically targeted to this industry.

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"Rising trend of outsourcing various parts of distribution and supply chain is aiding the growth for global blockchain supply chain market. Primary reason for the same is lesser control and visibility over such third-party service providers. Regulations regarding maintenance of data pertaining to product quality across the lifecycle by governing authorities would also impact the market positively."

The detailed research study provides qualitative and quantitative analysis of the global blockchain supply chain market. The market has been analyzed from demand as well as supply side. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

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Some of the major players operating in the global blockchain supply chain market is Applied Blockchain Ltd., Bitfury, BTL Group Ltd., Chainvine Ltd, Guardtime, Huawei Technologies Co., Ltd., IBM Corporation, Microsoft, OpenXcell, Ownest, Peer Ledger Inc., Provenance, PwC, Ripe.io, SAP SE, Sofocle Technologies (OPC) Pvt Ltd., VeChain Foundation, Venture Proxy Ltd., and Wipro Limited amongst others.

By Offerings

Solutions
Services

By Application

Goods and Distribution Tracking
Finance
Smart Contracts
Others (Forecasting, Freight Costing Etc.)

By Vertical

Retail
Food and Beverages
Healthcare
Heavy Machinery
Postal Services
Financial Services
Others (Government, Media and Entertainment Etc.)

By Geography

North America

o U.S.

o Canada

o Mexico

o Rest of North America

Europe

o France

o The UK

o Spain

o Germany

o Italy

o Nordic

- Denmark

- Finland

- Iceland

- Norway

- Sweden

o The Benelux Union

- Belgium

- the Netherlands

- Luxemburg

o Rest of Europe

Asia Pacific

o China

o Japan

o India

o Australia

o New Zealand

o Southeast Asia

- Indonesia

- Thailand

- Malaysia

- Singapore

- Rest of Southeast Asia

o Rest of Asia Pacific

Middle East and Africa

o Saudi Arabia

o UAE

o Egypt

o Kuwait

o South Africa

o Rest of Middle East & Africa

Latin America

o Brazil

o Argentina

o Rest of Latin America

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

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SOURCE Absolute Markets Insights