Global blockchain supply chain market is set to grow at a CAGR of 60% by 2027 with increasing smart contracts in supply chain: says Absolute Markets Insights

Supply chain is a vital sector where companies are focusing towards improvements in security and optimization. Any miscalculations during transaction, be it financial or physical, could be a challenge for productivity of any organization. Hence, companies require a stable solution for transactions. Supply chain is a vital function where companies are focusing for improvements in security. Smart contracts would let the companies gain enhanced control over their transactional procedures. This would aid the growth of Global blockchain supply chain market, which is expected to surpass US$6.5 billion by 2027, growing at a CAGR of 60%. The transactions among participants are completed in smart contract method, only if the required terms are completed. Companies have to pay certain fees to intermediate authorities for the validation of their transactions. For transactions through smart contracts, there is no requirement for an intermediate authority that has to validate the transactions. This also helps companies to save on expenditure. Smart contracts coupled with blockchain technology allows for the complete transaction path to be visible for the key participants. Also, the technology is safe from external threats such as cyber-attacks.

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“Rising demand among multi-national companies, present in logistics sector, is fueling the need for smarter transaction solutions. The use of smart contracts would be helpful for the logistics sector and is expected to maximize the growth of blockchain supply chain market in the coming years.”

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 are 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
o Solutions
o Services

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

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

By Region
o North America
o U.S.
o Canada
o Mexico
o Rest of North America
o Europe
o France
o The UK
o Spain
o Germany
o Italy
o Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
o Benelux Union
 Belgium
 The Netherlands
 Luxembourg
o Rest of Europe
o Asia Pacific
o China
o Japan
o India
o New Zealand
o Australia
o South Korea
o Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of Southeast Asia
o Rest of Asia Pacific
o Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of Middle East & Africa
o Latin America
o Brazil
o Argentina
o Rest of Latin America

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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Company: Absolute Markets Insights
Email id: sales@absolutemarketsinsights.com
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