Increasing Instances of Cyber-Attacks Driving Growth in the Blockchain Supply Chain Market: Powering Innovation and Expansion in the Blockchain Supply Chain Market by 2025

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What Is the Expected CAGR for the Blockchain Supply Chain Market Through 2025?
The market size for the blockchain supply chain has witnessed an explosive growth in the past few years. Its value is forecasted to increase from $2.04 billion in 2024 to $3.27 billion in 2025, with a compound annual growth rate (CAGR) of 60.1%. Factors contributing to this growth during the historic period include an increase in counterfeit products, higher implementation in the automotive sector, escalating utilization of blockchain for inventory control, the ascent of blockchain in logistics and a surge in demand for robust supply chains.

What's the Projected Size of the Global Blockchain Supply Chain Market by 2029?
In the coming years, exponential growth is anticipated for the blockchain supply chain market, with a forecasted expansion to $21.29 billion by the year 2029. This represents a compound annual growth rate (CAGR) of 59.8%. The acceleration during the projected period results from a multiplicity of factors such as the emphasis on ethical and sustainable sourcing, risk management focus, the necessity to lessen operational expenses, the requirement for real-time supervision of supply chain activities, and enhancement of supplier relationship management. Other key trends shaping this forecast period include a shift towards decentralized supply chain models, the application of anti-counterfeit solutions, the integration of AI with blockchain technology, the utilization of digital twins, along with innovations in blockchain security.

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Top Growth Drivers in the Blockchain Supply Chain Industry: What's Accelerating the Market?
The rise in cyber-attack incidents is anticipated to drive the expansion of the blockchain supply chain market. Cyber-attacks are deliberate assaults on digital systems aimed at stealing, altering or damaging data. These attacks occur due to weaknesses in digital systems, inadequate security measures, and human errors, usually exploited by malevolent entities seeking unauthorized access or disturbance. Blockchain technology creates a decentralised and permanent record to increase the supply chain security against cyber-attacks, ensuring that all transactions are safely logged and tamper-resistant. For example, the 2023 Data Breach Report by the Identity Theft Resource Center, a non-profit organization based in the US, states that newly discovered cyber vulnerabilities increased by 1,620 percent in the first three quarters of 2023, reaching 86 from only 5 for all of 2022. Thus, the escalating occurrence of cyber-attacks fuels the growth of the blockchain supply chain market.

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What Trends Will Shape the Blockchain Supply Chain Market Through 2029 and Beyond?
Leading players in the blockchain supply chain sector are pushing innovation by developing technologies like Hyperledger. This elevates transparency, security, and efficiency in supply chain management. Hyperledger, an open-source blockchain platform, aids in the creation of blockchain applications fit for enterprises by affording a customizable and modular foundation for transactions that are both secure and transparent. A case in point, BASF SE, a chemical company based in Germany, launched a blockchain platform, Seed 2 Sew, in October 2022. The platform leverages Hyperledger technology which provides a digital space for partners in the cotton value chain to document and validate each production phase, thus bridging the historical information disparity between farmers and the textile sector. Consequently, this undertaking boosts sustainability and lessens the carbon footprint of cotton garment production.

What Are the Main Segments in the Blockchain Supply Chain Market?
The blockchain supply chainmarket covered in this report is segmented -

1) By Component: Services, Platform
2) By Application: Payment And Settlement, Product Traceability, Counterfeit Detection, Smart Contracts, Risk And Compliance Management, Other Applications
3) By Industry Vertical: Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Logistics, Oil And Gas, Other Industry Verticals

Subsegments:
1) By Services: Consulting Services, Integration Services, Maintenance and Support Services, Training and Education Services
2) By Platform: Blockchain-as-a-Service (BaaS), Supply Chain Management Platforms, Smart Contract Platforms, Distributed Ledger Technology (DLT) Solutions

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Which Top Companies are Driving Growth in the Blockchain Supply Chain Market?
Major companies operating in the blockchain supply chain market are Walmart Inc., Amazon.com Inc., Microsoft Corporation, Alibaba Group Holding Limited, Huawei Technologies Co. Ltd., Siemens AG, Deloitte Touche Tohmatsu Limited, accenture** plc, International Business Machines Corporation, Oracle Corporation, Honeywell International Inc., SAP SE, Salesforce Inc., Tata Consultancy Services Limited, Hewlett Packard Enterprise Company, Infosys Limited, Nippon Express Co. Ltd., Wipro Limited, TIBCO Software Inc., VeChain, Chronicled Inc., Guardtime, Omnichain Inc., Auxesis Group, SyncFab Co., Provenance

Which Regions Will Dominate the Blockchain Supply Chain Market Through 2029?
North America was the largest region in the blockchain supply chain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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