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

According to IMARC Group's latest report, titled "𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐢𝐧 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 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.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗳𝗿𝗲𝗲 𝘀𝗮𝗺𝗽𝗹𝗲 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.imarcgroup.com/blockchain-in-retail-market/requestsample

𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐢𝐧 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

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.

𝗖𝗵𝗲𝗰𝗸𝗼𝘂𝘁 𝗡𝗼𝘄: https://www.imarcgroup.com/checkout?id=5844&method=1

𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐢𝐧 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 2022-2027 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

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.

𝗦𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:

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).

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:

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

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭:

Platform/Solutions
Services

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐓𝐲𝐩𝐞:

Public Blockchain
Private Blockchain
Consortium Blockchain

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐒𝐢𝐳𝐞:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

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

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

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

𝗔𝘀𝗸 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗳𝗼𝗿 𝟭𝟬% 𝗳𝗿𝗲𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗿𝗲𝗽𝗼𝗿𝘁: http://bit.ly/3kd4feE

𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• 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.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭-

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𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝗦:

IMARC Group
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𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

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.

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