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Growing Retail Supply Chain Transparency Fuels Blockchain Adoption: A Key Catalyst Accelerating Global Blockchain In Retail Market Growth in 2025
Blockchain In Retail
Blockchain In Retail Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the retail market that incorporates blockchain technology has seen rapid expansion in the preceding years. The market, estimated to be worth around $2.92 billion in 2024, is anticipated to escalate to a staggering $5.41 billion by 2025, displaying an impressive Compound Annual Growth Rate (CAGR) of 85.4%. This significant increase in the past has been mainly propelled by factors such as increased transparency in the supply chain, efficient transactions and payments processing, the implementation of smart contracts, effective inventory oversight, and cross-border transaction capabilities.
Blockchain In Retail Market Size Forecast: What's the Projected Valuation by 2029?
The anticipated expansion of the blockchain in the retail market size is poised to be staggering in the coming years. The market is set to inflate to a colossal $62.57 billion by 2029, with an impressive compound annual growth rate (CAGR) of 84.4%. This substantial increase during the forecast period can be linked to improved product tracking, collaboration across industries, decentralized proof of identity, asset tokenization, and regulatory adherence. Some of the prominent trends expected during the forecast period encapsulate digital marketplaces powered by blockchain, partnerships with artificial intelligence, advanced data security strategies, voting systems built on blockchain, and cooperation among different industries.
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What Are the Drivers Transforming the Blockchain In Retail Market?
The growth of the blockchain in the retail market is being propelled by a rising demand for transparency in the retail supply chain. Full disclosure of information at every chain level is required for supply chain transparency, encompassing areas such as raw material sourcing, the use of water in textile dying, directives for customer care, and the ecological consequences of distributing products, among others. Blockchain technologies are being invested in by companies in the retail sector to improve transparency, leading to improved customer experiences, greater employee satisfaction, revenue augmentation, and more. For example, as per the Office for National Statistics of the UK government, the sector of wholesale and retail trade, as well as motor vehicle and motorcycle repair, reported a slight drop in global supply chain problems to 32% in June 2022, down from 33% in May 2022. However, the construction industry saw a rise, with supply chain issues moving up to 26% from 23% in May. Therefore, a greater level of transparency in the retail supply chain is expected to drive growth in the blockchain retail market over the forecast period.
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What Long-Term Trends Will Define the Future of the Blockchain In Retail Market?
In the retail sector, blockchain is seeing a surge in popularity due to advancements in technology. This trend is being led by companies that are striving to create novel tech solutions to cater to the global customer base's technical needs and desires. For example, Clarins, a French firm known for its plant-based beauty items, unveiled a blockchain-based system for product traceability in November 2022. This platform utilizes blockchain to ensure absolute transparency, allowing the company to transmit and store data safely. Furthermore, it establishes a database recording secure transactions between diverse suppliers and manufacturers, utilizing a system that validates user identities, preventing any modifications.
Which Segments in the Blockchain In Retail Market Offer the Most Profit Potential?
The blockchain in retailmarket covered in this report is segmented -
1) By Component: Platform Or Solutions, Services
2) By Providers: Application Providers, Middleware Providers, Infrastructure Providers
3) By Application: Compliance Management, Identity Management, Loyalty and Rewards Management, Payments, Smart Contracts, Supply Chain Management, Other Applications
Subsegments:
1) By Platform Or Solutions: Blockchain-As-A-Service (BaaS), Distributed Ledger Technology (DLT), Smart Contracts, Identity Management Solutions, Payment And Settlement Solutions
2) By Services: Consulting Services, Integration Services, Managed Services, Support And Maintenance Services
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Which Firms Dominate the Blockchain In Retail Market by Market Share and Revenue in 2025?
Major companies operating in the blockchain in retail market include International Business Machines Corporation, SAP SE, Oracle Corporation, Bitfury Group Limited, Auxesis Services & Technologies (P) Ltd., Walmart Inc., Target Corporation, Alibaba Group Holding Limited, Overstock. com Inc., Blockverify Limited, Amazon Web Services Inc., Chronicled Inc., Coinfirm Limited, The De Beers Group, Everledger Limited, Filament, Inc., Fluent Inc., Loyyal Corporation, modum. io AG, Provenance Limited, Ripe Technology Inc., Skuchain Inc., Sweetbridge Inc., Taeltech Pte. Ltd., TE-FOOD International GmbH, VeChain Foundation San Marino S. r. l., Ambrosus Technologies GmbH, ARCNET Corp., Block Array LLC, Chainvine Limited, OriginTrail d. o. o.
Which Regions Offer the Highest Growth Potential in the Blockchain In Retail Market?
North America was the largest region in the blockchain in retail market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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