Global Block chain in Agriculture and Food Supply Chain Market Research Report 2019 with Top Companies Profile like IBM Corporation, Microsoft, SAP SE, Ambrosus, arc-net, OriginTrail, Ripe Technology INC, VeChain Foundation, Project Provenance Ltd., Chain
Large-scale implantation and awareness about the benefits of block chain is expected to drive the market growth and hence, the initial estimated market value is expected to rise from USD 58.4 million in 2018 to an estimated value of USD 1375.3 million by 2026, registering a CAGR of 48.4% in the forecast period of 2019-2026.
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Global Block chain in Agriculture and Food Supply Chain Market, By Provider (Application and solution provider, Middleware provider, Infrastructure and protocol provider), Application (Product traceability, Payment and settlement, Smart contracts, Governance and risk management), Organization size (Large enterprises, Small and medium-sized (SMEs) enterprises), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2026.
Block chain is a database or a directory of records called as blocks, which are connected through cryptography. Each record is interlinked with the previous one, and though technically it cannot be modified as it only records the transaction taking place between two parties. Its application in agriculture enables the users to transmit transparency in their transaction and supply chain informing the consumer of the original transaction as well.
The global block chain in agriculture and food supply chain market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of block chain in agriculture and food supply chain market for global, Europe, North America, Asia Pacific and South America.
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• Growing environmental concerns about the wastage of resources and food, the implementation of block chain in agriculture is expected to rise due to its various benefits
• Transparency in cases of food supply chain is also expected to drive the market growth
• Implementation of digital connectivity in the developing regions is one of the major market restraint
• Vulnerability in relation to hackers and privacy threats is also one of the market restraint
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• By Provider
o Application and solution provider
o Middleware provider
o Infrastructure and protocol provider
• By Application
o Product traceability
o Payment and settlement
o Smart contracts
o Governance and risk management
• By Organization size
o Large enterprises
o Small and medium-sized (SMEs) enterprises
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