openPR Logo
Press release

Blockchain in Retail Market Size is Projected to Reach US$ 3,731.75 Million by 2027, at a CAGR of 54.50% - IMARC Group

02-20-2023 08:28 AM CET | IT, New Media & Software

Press release from: IMARC Group

Blockchain in Retail Market Size is Projected to Reach US$

According to IMARC Group's latest report, titled "๐๐ฅ๐จ๐œ๐ค๐œ๐ก๐š๐ข๐ง ๐ข๐ง ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐—œ๐—ป๐—ฑ๐˜‚๐˜€๐˜๐—ฟ๐˜† ๐—ง๐—ฟ๐—ฒ๐—ป๐—ฑ๐˜€, ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ, ๐—ฆ๐—ถ๐˜‡๐—ฒ, ๐—š๐—ฟ๐—ผ๐˜„๐˜๐—ต, ๐—ข๐—ฝ๐—ฝ๐—ผ๐—ฟ๐˜๐˜‚๐—ป๐—ถ๐˜๐˜† ๐—ฎ๐—ป๐—ฑ ๐—™๐—ผ๐—ฟ๐—ฒ๐—ฐ๐—ฎ๐˜€๐˜ 2022-2027", the blockchain in retail market reached US$ 233.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 3,731.75 Million by 2027, exhibiting a CAGR of 54.50% during 2022-2027.

Blockchain in retail represents an advanced technology that relies on cryptography for recording digital transactions on a distributed ledger in the retail industry. It can be categorized into the public blockchain, private blockchain, and consortium blockchain. Blockchain in retail solutions are highly cost-effective as they automate the transactions and the interoperability of applications and eliminate the need for administration. They assist businesses in tracking the product back to the supply chain, identifying manufacturers, suppliers, and batches to solve supply chain issues, and enabling decentralized identity (DID), which help retailers verify user identity and data when needed. Blockchain in retail services even streamlines administrative processes in the back offices of retailers and allow employees to focus more on value-added work. Consequently, they are extensively used by large and small and medium-sized enterprises (SMEs) across the globe.

๐——๐—ผ๐˜„๐—ป๐—น๐—ผ๐—ฎ๐—ฑ ๐—ณ๐—ฟ๐—ฒ๐—ฒ ๐˜€๐—ฎ๐—บ๐—ฝ๐—น๐—ฒ ๐—ฏ๐—ฟ๐—ผ๐—ฐ๐—ต๐˜‚๐—ฟ๐—ฒ: https://www.imarcgroup.com/blockchain-in-retail-market/requestsample

๐†๐ฅ๐จ๐›๐š๐ฅ ๐๐ฅ๐จ๐œ๐ค๐œ๐ก๐š๐ข๐ง ๐ข๐ง ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ

The escalating demand for transparent transactions in the retail industry for building trust between suppliers, companies, and customers is primarily driving the blockchain in retail market. Moreover, the rising investments by retailers in blockchain-based solutions for ensuring quality, authenticity, reliability, and product safety are also positively influencing the global market. Additionally, the increasing technological advancements, the growing international trade in the retail segment, and the elevating usage of blockchain in retail for online shopping, digital payment, and risk and compliance are acting as significant growth-inducing factors.

Apart from this, the expanding adoption of the services to monitor supply chain transactions for easy traceability of goods and the shifting preferences toward smart contracts to save cost and time of companies and remove merchants who charge extra for authenticating a transaction are expected to bolster the blockchain in retail market over the forecasted period.

๐—–๐—ต๐—ฒ๐—ฐ๐—ธ๐—ผ๐˜‚๐˜ ๐—ก๐—ผ๐˜„: https://www.imarcgroup.com/checkout?id=5844&method=1

๐†๐ฅ๐จ๐›๐š๐ฅ ๐๐ฅ๐จ๐œ๐ค๐œ๐ก๐š๐ข๐ง ๐ข๐ง ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ 2022-2027 ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐š๐ง๐ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž:

The competitive landscape of the blockchain in retail market has been studied in the report with the detailed profiles of the key players operating in the market.

๐—ฆ๐—ผ๐—บ๐—ฒ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ๐˜€๐—ฒ ๐—ธ๐—ฒ๐˜† ๐—ฝ๐—น๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ถ๐—ป๐—ฐ๐—น๐˜‚๐—ฑ๐—ฒ:

Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Services & Technologies (P) Ltd, Cognizant, Infosys Limited, International Business Machines Corporation, Oracle Corporation, Reply, SAP SE, Sofocle Technologies Pvt. Ltd. and Tata Consultancy Services Limited (Tata Group).

๐—ž๐—ฒ๐˜† ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฆ๐—ฒ๐—ด๐—บ๐—ฒ๐—ป๐˜๐—ฎ๐˜๐—ถ๐—ผ๐—ป:

The report has segmented the blockchain in retail market bases on the component, type, organization size and application.

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐‚๐จ๐ฆ๐ฉ๐จ๐ง๐ž๐ง๐ญ:

Platform/Solutions
Services

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐“๐ฒ๐ฉ๐ž:

Public Blockchain
Private Blockchain
Consortium Blockchain

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐Ž๐ซ๐ ๐š๐ง๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐’๐ข๐ณ๐ž:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง:

Supply Chain Management
Food Safety Management
Customer Data Management
Identity Management
Compliance Management
Others

๐๐ซ๐ž๐š๐ค๐ฎ๐ฉ ๐›๐ฒ ๐‘๐ž๐ ๐ข๐จ๐ง:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

๐—”๐˜€๐—ธ ๐—”๐—ป๐—ฎ๐—น๐˜†๐˜€๐˜ ๐—ณ๐—ผ๐—ฟ ๐Ÿญ๐Ÿฌ% ๐—ณ๐—ฟ๐—ฒ๐—ฒ ๐—ฐ๐˜‚๐˜€๐˜๐—ผ๐—บ๐—ถ๐˜‡๐—ฒ๐—ฑ ๐—ฟ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜: http://bit.ly/3kd4feE

๐—ž๐—ฒ๐˜† ๐—›๐—ถ๐—ด๐—ต๐—น๐—ถ๐—ด๐—ต๐˜๐˜€ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—ฅ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜:

โ€ข Market Performance (2016-2021)
โ€ข Market Outlook (2022-2027)
โ€ข Market Trends
โ€ข Market Drivers and Success Factors
โ€ข Impact of COVID-19
โ€ข Value Chain Analysis
โ€ข Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

๐๐ซ๐จ๐ฐ๐ฌ๐ž ๐“๐จ๐ฉ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ-

Global Cloud Managed Services Market Report-https://www.openpr.com/news/2937610/cloud-managed-services-market-size-is-projected-to-reach-us-88-0

Global Virtual Reality (VR) in Healthcare Market Report-https://www.openpr.com/news/2930611/virtual-reality-vr-in-healthcare-market-size-worth-us-3-366-1

๐—–๐—ผ๐—ป๐˜๐—ฎ๐—ฐ๐˜ ๐—จ๐—ฆ:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 |
Europe & Africa: +44-753-713-2163 |
Asia: +91-120-433-0800

๐—”๐—ฏ๐—ผ๐˜‚๐˜ ๐—จ๐˜€:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Blockchain in Retail Market Size is Projected to Reach US$ 3,731.75 Million by 2027, at a CAGR of 54.50% - IMARC Group here

News-ID: 2937856 • Views: โ€ฆ

More Releases from IMARC Group

Automotive Control Cables Manufacturing Plant Setup Report 2025: Machinery, Raw Materials and Investment Insights
Automotive Control Cables Manufacturing Plant Setup Report 2025: Machinery, Raw โ€ฆ
Automotive control cables are essential components used to transmit mechanical force in vehicles, enabling the smooth operation of various systems such as brakes, clutches, accelerators, gear shifts, and seating mechanisms. These cables are designed for durability, flexibility, and high performance under diverse driving conditions. Their demand is directly linked to the growth of the automotive industry, aftermarket sales, and increasing consumer preference for enhanced driving comfort and safety. Setting up anโ€ฆ
Halal Cosmetics Market Size, Trends, Key Players, Opportunity and Forecast 2025-2033
Halal Cosmetics Market Size, Trends, Key Players, Opportunity and Forecast 2025- โ€ฆ
IMARC Group, a leading market research company, has recently released a report titled "Halal Cosmetics Market Size, Share, Trends and Forecast by Type, Distribution Channel, and Region, 2025-2033." The study provides a detailed analysis of the industry, including the global halal cosmetics market size, trends, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market. Halal Cosmetics Market Highlights: โ€ข Halal Cosmetics Marketโ€ฆ
Comprehensive Castor Oil Processing Plant Project Report 2025: Setup Guide, Economics and Profitability Outlook
Comprehensive Castor Oil Processing Plant Project Report 2025: Setup Guide, Econ โ€ฆ
Castor oil is a versatile vegetable oil extracted from the seeds of the Ricinus communis plant. It is widely used in pharmaceuticals, cosmetics, food processing, lubricants, paints, coatings, and biodiesel production owing to its unique chemical properties, including high ricinoleic acid content. Castor oil derivatives also serve as key raw materials in the polymer, chemical, and industrial sectors. Establishing a castor oil processing plant involves steps such as seed cleaning, dehulling,โ€ฆ
Honey Processing Plant Report 2025: Capital Investment, Operating Expenses and Market Opportunities
Honey Processing Plant Report 2025: Capital Investment, Operating Expenses and M โ€ฆ
Honey is a natural sweetener produced by honeybees and is valued for its nutritional, medicinal, and industrial applications. It contains antioxidants, enzymes, vitamins, and minerals that make it a popular ingredient in food and beverages, pharmaceuticals, cosmetics, and personal care products. Processed honey is widely consumed as a sweetener, used in bakery and confectionery items, beverages, dietary supplements, and skincare formulations. Setting up a honey processing plant involves operations such asโ€ฆ

All 5 Releases


More Releases for Blockchain

Pharmaceutical Blockchain Market to Witness Impressive Growth by 2030: IBM Block โ€ฆ
According to HTF Market Intelligence, the Pharmaceutical Blockchain market to witness a CAGR of 55% during the forecast period (2024-2030).The Latest published a market study on Global Pharmaceutical Blockchain Market provides an overview of the current market dynamics in the Global Pharmaceutical Blockchain space, as well as what our survey respondents- all outsourcing decision-makers- predict the market will look like in 2030. The study breaks the market by revenue andโ€ฆ
Noticias Blockchain Among the First to Launch of Blockchain for Good Alliance (B โ€ฆ
Noticias Blockchain is a premier Spanish blockchain news portal helmed by tech-savvy highly experienced journalists specializing in cryptocurrencies and blockchain technologies. The company recently published a comprehensive coverage of BGA's launch. Image: https://www.getnews.info/uploads/70692aa238526d085c2aae051094caca.png The world of cryptocurrencies and blockchain technologies expands at a rapid pace, witnessing breakthroughs big and small on a seemingly daily basis. To ensure that traders, crypto-curious individuals, investors, and blockchain experts across the globe have instant accessโ€ฆ
FinTech Blockchain Market Is Booming Worldwide | Ripple, Guardtime, Cambridge Bl โ€ฆ
FinTech Blockchain Market: The extensive research on FinTech Blockchain Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on FinTech Blockchain Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the market, such as market rate, estimatedโ€ฆ
Blockchain Security Market Set for Explosive Growth | DMG Blockchain Solutions, โ€ฆ
Global Blockchain Security Market Growth (Status and Outlook) 2021-2026 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Blockchain Security Market. Some of the key players profiled in the study are Oracle, IBM, Kaspersky, Gemalto,โ€ฆ
Impact of Outbreak of Coronavirus (Covid-19) on Blockchain in IOT Market by 2027 โ€ฆ
The Blockchain in IOT market is expected to garner $6000 million and rise at a CAGR of 70% during the forecast period from 2019 to 2027. A new market report titled โ€œBlockchain in IOT Marketโ€ has been added to the repository of Research N Reports. This report provides comprehensive assessment of the current trends, restrains and futuristic opportunities, which are anticipated to provide lucrative avenues for market proliferation. An in-depth descriptionโ€ฆ
Oodles Blockchain Uses Top Blockchain Platforms To Expedite Blockchain Adoption
With an aim to leverage the blockchain technology to change the centralized system and make it decentralized, Oodles Blockchain has decided to use top blockchain platforms to develop consumer-based blockchain applications. Oodles Blockchain, a micro-website of Oodles Technologies, developed mainly to focus on blockchain technology, is delighted to announce that it will be expanding its horizon of blockchain development services by using a few latest open source blockchain platforms likeโ€ฆ