Blockchain Supply Chain Market Expected to Reach USD 9,852.91 Billion by 2025 | AUXESIS GROUP, HUAWEI, ORACLE

The term "Blockchain Supply Chain Market" refers to the use of blockchain technology in the context of supply chain management. A blockchain is a distributed and decentralized ledger technology that records transactions across multiple computers in a way that ensures security, transparency, and immutability of data. When applied to supply chain management, blockchain technology can offer several benefits, and the "market" in this context refers to the various products, services, and solutions offered by companies to leverage blockchain for supply chain operations.

An increase in demand for supply chain transparency, and rise in need for improved security of supply chain transactions drive the growth of the global blockchain supply chain market. On the other hand, lack of awareness about this technology and scarcity of skilled workforce check the growth to certain extent. Nevertheless, rapid proliferation of e-commerce industry is expected to create multiple opportunities in the market.

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As per the report, the global blockchain supply chain market was estimated at $93.2 million in 2017 and is expected to hit $9,852.9 million by 2025, growing at a CAGR of 80.2% from 2018 to 2025. The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

In term of application, the market is bifurcated into smart contracts, payment & settlement, product traceability, inventory monitoring, compliance management, and others. The product traceability segment was the highest contributor to the global blockchain supply chain market in 2017 and is projected to remain dominant during the forecast period. Various industries including healthcare and food & beverages are adopting blockchain technology to trace the products at various stages in the supply chain and this is expected to drive the product traceability segment growth in coming years. Smart contracts application segment is projected to rise with highest CAGR during the forecast period. The smart contracts automate the contract execution in the supply chain and eliminates the need for intermediaries.

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Based on component, the market is bifurcated into platform and services. The platform segment dominated the overall blockchain supply chain market share in 2017 and is expected to remain dominant during the forecast period. Nonetheless, the service segment is expected to grow with highest CAGR during the forecast period. The growth of services segment is attributed to the rise in adoption of consulting and implementation services for blockchain technology by various enterprises worldwide.

By industry vertical, the retail industry segment dominated the overall blockchain supply chain market share in 2017 and is expected to continue this trend during the forecast period, owing to strong adoption of blockchain technology by retail market players in their supply chains. The study includes blockchain supply chain market analysis for all the mentioned segments across geographies.

Many enterprises are expected to enter the market in near future with the expected lucrative growth of the market. Some of the key market players profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, AWS Inc. Huawei, Auxesis Group, TIBCO Software, and BTL Group. The study also includes blockchain supply chain market trends, analysis, and future estimations to determine the imminent investment pockets.

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Based on geography, the North American region held the largest share in 2017, accounting for nearly three-fifths of the total market. The Asia-Pacific region, on the other hand, is anticipated to grow at the fastest CAGR of 90.4% during the period.

Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to strong growth of e-commerce and adoption of smartphones and other connected devices. Also, the Asia-Pacific region has witnessed an increase in broadband speeds and greater availability of 4G connectivity due to the widespread adoption of wireless communication technologies, which is opportunistic for the market.

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