Press release
New innovation in Global Block chain in Supply Chain Market: remarkable growth with latest technology trends by top players such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC
A Blockchain is a distributed digital ledger. It records transactions in a series of blocks. It exists in multiple copies, spread over multiple computers, which are called anodes. The ledger is secure because every new block of transactions is linked again to previous blocks in such a way that tampering with it is practically impossible. As it is decentralized, it does not depend on any single entity (Eg:Bank) for safekeeping. The nodes connected to the Blockchain network get updated versions of the ledger as new transactions are carried out. According to Netscribes, the global Blockchain in supply chain market is expected to have a significant compounded annual growth rate of 87.0%, and reach a market size of USD 3,314.6 Mn by 2023. North America is expected to dominate the Blockchain in Supply Chain Market during the forecast period.
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An increasing need for supply chain transparency and increasing demand for enhanced security of supply chain transactions are expected to drive the market during the forecast period. Supply chains across industries and countries will be reimagined, improved, and disrupted by Blockchain technology. Now, there are safer and more efficient ways to connect with business partners and also to track and exchange any type of asset. The ability to use Blockchain technology to create the next generation of digital supply chain networks and platforms will be central to the success of business.
Based on type of industry, the market is segmented into private, public and consortiums; based on the application of the industry, the market is categorized into contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control. Moreover based on the protocols of the industry it is divided into bitcoin, ethereum, ripple consensus network, hyperledger, R3s corda, symbiont, distributed ledgers and others.
The segmentation is also based on the types of industries involved and the market is categorized into banking, financial services and insurance (BFSI), telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others. Each and every segment is examined carefully by factoring in sales, revenue and market size, in order to understand the potential for growth and scope.
Key growth factors
Blockchain transactions have become more flexible and many manual tasks are carried out automatically using smart contracts. Some of the major factors which are driving the market growth are raising cryptocurrency market capital, initial coin offering (ICO) and faster transactions.
The technology ensures enhanced transparency for consumers in the supply chain. It allows the consumers to trace and give an assurance of origin in the trade.
Threats and key players
Although the Blockchain in Supply Chain Market is expected to have a positive growth globally, still, there are still a few threats to the market. The market constraints involves threat to personal information and high diagnostic cost as a barrier. Blockchain technology has often been compromised, resulting in the theft of millions of dollars worth of cryptocurrencies. The potential risk of hardware or software failure can be another risk in the supply chain. Lack of awareness about the Blockchain and higher cost of investments can restrain market growth during the forecast period.
The Blockchain market ecosystem comprises vendors, such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC, Ethereum Foundation, Guardtime, Internation Machine Business Corporation, IBM, Blockcypher, Inc., Microsoft, Primechain Technologies Pvt. Ltd, Skuchain, Romit and Provenance Ltd, among others.
Global Blockchain in Supply Chain Market
A Blockchain is a distributed digital ledger. It records transactions in a series of blocks. It exists in multiple copies, spread over multiple computers, which are called anodes. The ledger is secure because every new block of transactions is linked again to previous blocks in such a way that tampering with it is practically impossible. As it is decentralized, it does not depend on any single entity (Eg:Bank) for safekeeping. The nodes connected to the Blockchain network get updated versions of the ledger as new transactions are carried out. According to Netscribes, the global Blockchain in supply chain market is expected to have a significant compounded annual growth rate of 87.0%, and reach a market size of USD 3,314.6 Mn by 2023. North America is expected to dominate the Blockchain in Supply Chain Market during the forecast period.
An increasing need for supply chain transparency and increasing demand for enhanced security of supply chain transactions are expected to drive the market during the forecast period. Supply chains across industries and countries will be reimagined, improved, and disrupted by Blockchain technology. Now, there are safer and more efficient ways to connect with business partners and also to track and exchange any type of asset. The ability to use Blockchain technology to create the next generation of digital supply chain networks and platforms will be central to the success of business.
Based on type of industry, the market is segmented into private, public and consortiums; based on the application of the industry, the market is categorized into contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control. Moreover based on the protocols of the industry it is divided into bitcoin, ethereum, ripple consensus network, hyperledger, R3s corda, symbiont, distributed ledgers and others.
The segmentation is also based on the types of industries involved and the market is categorized into banking, financial services and insurance (BFSI), telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others. Each and every segment is examined carefully by factoring in sales, revenue and market size, in order to understand the potential for growth and scope.
Key growth factors
Blockchain transactions have become more flexible and many manual tasks are carried out automatically using smart contracts. Some of the major factors which are driving the market growth are raising cryptocurrency market capital, initial coin offering (ICO) and faster transactions.
The technology ensures enhanced transparency for consumers in the supply chain. It allows the consumers to trace and give an assurance of origin in the trade.
Threats and key players
Although the Blockchain in Supply Chain Market is expected to have a positive growth globally, still, there are still a few threats to the market. The market constraints involves threat to personal information and high diagnostic cost as a barrier. Blockchain technology has often been compromised, resulting in the theft of millions of dollars worth of cryptocurrencies. The potential risk of hardware or software failure can be another risk in the supply chain. Lack of awareness about the Blockchain and higher cost of investments can restrain market growth during the forecast period.
The Blockchain market ecosystem comprises vendors, such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC, Ethereum Foundation, Guardtime, Internation Machine Business Corporation, IBM, Blockcypher, Inc., Microsoft, Primechain Technologies Pvt. Ltd, Skuchain, Romit and Provenance Ltd, among others.
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Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. Executive summary
Chapter 2: Global Blockchain in Supply Chain Market - market overview
2.1. Global market overview - market trends, market attractiveness analysis, geography-wise market revenue (USD)
2.2. Global - market drivers and challenges
2.3. Value chain analysis - Blockchain in Supply Chain Market
2.4. Porters Five Forces Analysis
2.5. Market segmentation on the basis of type (private, public and consortium)
2.5. a. Revenue from private Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.5. b. Revenue from public Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.5. c. Revenue from consortium Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. Market segmentation on the basis of application (contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control)
2.6. a. Revenue from contract management - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. b. Revenue from payment system - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. c. Revenue from procurement - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. d. Revenue from provenance - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. e. Revenue from ownership transfer - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. f. Revenue from asset tracking - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.6. g. Revenue from inventory control - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. Market segmentation on the basis of protocol (Bitcoin, Ethereum, Ripple Consensus Network, Hyperledger, R3s Corda, Symbiont, Distributed ledgers and others)
2.7. a. Revenue from Bitcoin - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. b. Revenue from Ethereum - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. c. Revenue from Ripple Consensus Network - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. d. Revenue from Hyperledger - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. e. Revenue from R3s corda - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. f. Revenue from Symbiont - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. g. Revenue from Distributed ledgers - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.7. h. Revenue from others - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. Market segmentation on the basis of industries involved (Banking, Financial services and Insurance (BFSI), Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)
2.8. a. Revenue from banking, financial services and insurance (BFSI) - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. b. Revenue from telecom and IT - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. c. Revenue from healthcare and life sciences - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. d. Revenue from manufacturing - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. e. Revenue from retail - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. f. Revenue from e-commerce - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
2.8. g. Revenue from others - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
Chapter 3: North America Blockchain in Supply Chain Market- market overview
3.1. Market overview-market trends, market attractiveness analysis, geography wise market revenue (USD)
3.2. North America - market drivers and challenges
3.3. Market segmentation on the basis of type (private, public and consortium)
3.3. a. Revenue from private Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.3. b. Revenue from public Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.3. c. Revenue from consortium Blockchain - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. Market segmentation on the basis of application (contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control)
3.4. a. Revenue from contract management - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. b. Revenue from payment system - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. c. Revenue from procurement - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. d. Revenue from provenance - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. e. Revenue from ownership transfer - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. f. Revenue from asset tracking - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.4. g. Revenue from inventory control - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. Market segmentation on the basis of protocol (Bitcoin, Ethereum, Ripple Consensus Network, Hyperledger, R3s Corda, Symbiont, Distributed ledgers and others)
3.5. a. Revenue from Bitcoin - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. b. Revenue from Ethereum - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. c. Revenue from Ripple Consensus Network - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. d. Revenue from Hyperledger - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. e. Revenue from R3s Corda - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. f. Revenue from Symbiont - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. g. Revenue from Distributed ledgers - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.5. h. Revenue from others - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. Market segmentation on the basis of industries involved (Banking, Financial services and Insurance (BFSI), Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)
3.6. a. Revenue from banking, financial services and insurance (BFSI)- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. b. Revenue from telecom and IT - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. c. Revenue from healthcare and life sciences - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. d. Revenue from manufacturing - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. e. Revenue from retail - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. f. Revenue from e-commerce - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
3.6. g. Revenue from others - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations
...
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