New Report on Blockchain in Retail Market (CAGR 60%) Demand Analysis To 2025 Lead By- SAP SE, IBM Corporation, Oracle Corporation, Microsoft Corp., Amazon Web Services, Inc., Capgemini SE

The blockchain in retail market was valued at USD 113.72 million in 2019 and is expected to reach USD 1936.68 million by 2025, at a CAGR of 60.4% over the forecast period 2020 - 2025.

Transparency in retail supply chain, as well as demand for improved customer service, is driving the market growth.

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Originally used only for financial transactions, blockchain has expanded its roots to other industries including retail, which is changing the way retailers and suppliers are earning consumer loyalty. It makes the retailers equipped to deal with challenges in transaction management, customer service or inventory management.

Top Leading Manufactures-

SAP SE, IBM Corporation, Oracle Corporation, Microsoft Corp., Amazon Web Services, Inc., Capgemini SE, Accenture PLC, Provenance Ltd, Cognizant Technology Solutions Corp., Reply S.p.A., BlockVerify, Sofocle Technologies (OPC) Pvt Ltd, Modultrade Ltd

Market Scenario

Smart Contracts to Dominate the Market

- Smart contracts allow computer code to execute on its own when specific conditions are met. In the telecom industry, it is expected to witness significant adoption as it provides scope for automation in their internal operations, like billing, supply chain management, and inventory management.
- Smart Contracts can help in automating payment process for online as well as offline transactions. It can help to save time and cost for companies by removing the merchant (middleman), who charges extra for authenticating the transaction.
- Furthermore, in doing so, companies also save money by spending less on auditing and accounting as the process is automated.

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Competitive Landscape

- July 2019 - A consortium of Australia-based financial services companies teamed up with IBM and shopping center operator Scentre Group to launch a pilot that puts retail lease bank guarantees on a private blockchain.
- July 2019 - Nestle partnered with OpenSC, a blockchain platform, to develop the distributed ledger system which will be separate and distinct from Nestls ongoing participation with IBM Food Trust blockchain.
- June 2019 - Russia's third largest food retail firm, Dixy implemented blockchain technology in its corporate finance system. The Moscow-based retailer has deployed blockchain in cooperation between suppliers and factoring firms, which represent third parties that purchase businesses invoices at a discount in order to help those businesses to raise funds.
 
What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Global Blockchain in Retail Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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This release was published on openPR.