Rise in need for supply chain transparency and increase in demand for enhanced security of supply chain transactions have fueled the growth of the global blockchain supply chain market.
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On the other hand, lack of awareness about this technology and scarcity of skilled workforce restrain the growth to some extent. Nevertheless, propagation of the e-commerce industry is expected to create multiple opportunities in the segment.
As per the report, the global blockchain supply chain market was estimated at $93.2 million in 2017 and is expected to hit $9,852.9 million by 2025, growing at a CAGR of 80.2% from 2018 to 2025. The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Based on industry vertical, the retail segment accounted for nearly one-fourth of the total market share in 2017 and is expected to maintain its dominance throughout the estimated period. Tremendous efforts being taken by retail organizations to enhance customer experience and satisfaction have propelled the growth of the segment. Simultaneously, the healthcare segment is anticipated to showcase the fastest CAGR of 83.2% through 2018–2025.
Based on component, the platform segment contributed to more than four-fifth of the total market share in 2017 and would maintain its leadership status till 2025. Its capability of providing improved efficiency along with enhanced security and transparency has worked as the major driving factor behind its growth. At the same time, the services segment would grow at the fastest CAGR of 87.6% during the study period.
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Based on geography, the North America region held the largest share in 2017, contributing to nearly three-fifth of the total market. Strong presence of market players and technological developments in the region have driven the growth. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 90.4% during the forecast period.
Leading market players analyzed in the global blockchain supply chain market report include Microsoft Corporation, BTL Group, Huawei Accenture Plc., Oracle Corporation, SAP SE, TIBCO Software, IBM Corporation, AWS Inc., and Auxesis Group. These players have adopted various market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to strengthen their foothold in the industry.
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