Blockchain Supply Chain Market to Grow at over 80% CAGR through 2024
According
to TechSci Research report, “Global
Blockchain Supply Chain Market By Type, By Provider, By Application, By End User
Industry, By Region, Competition, Forecast & Opportunities, 2024”, global blockchain supply chain market is expected to grow
at significant CAGR of over 80% on account of increasing implementation of
blockchain in supply chain for enhancing transparency and accuracy in the
system and allow tracking of order at any given time without alteration in
information. Blockchain is an open and distributed ledger that can record transactions
in an efficient, verifiable and permanent way. Increasing need for automating
supply chain activities and eliminate middlemen is anticipated to drive global blockchain
supply chain market through 2024.
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Tables and 104 Figures spread through 110 Pages and an in-depth TOC on “Global
Blockchain Supply Chain Market "
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Global
blockchain supply chain market can be segmented based on type, provider,
application, end user industry and region. In terms of application, global
blockchain supply chain market can be segmented into payment & settlement,
counterfeit detection, product traceability, smart contracts, risk &
compliance management and others. Of all, smart contracts segment is expected
to grow at the highest rate as it enables companies to automate their process
with reduced costs, time and improved transaction flow. On the basis of
provider, global blockchain supply chain market is categorized into application
& solution provider, middleware provider and infrastructure & protocols
provider. Application & solution provider segment is expected to witness the
fastest growth on account of growing implementation of blockchain solutions for
streamlining the supply chain management practices.
Oracle Corp., Amazon Web Services, SAP SE, Microsoft
Corporation, IBM Corporation, Intel Corp., Amazon Inc., NVIDIA Corp., Wipro
Ltd., Huawei, etc., are some of the leading
players operating in global blockchain supply chain market. Companies operating
in the market are using organic strategies such as product launches, mergers
and collaborations to increase their share. For instance, SAP SE launched
blockchain-as-a-service (BaaS) to provide ledger technology in the cloud.
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“North America is the leading region in global blockchain supply chain
market and is anticipated to continue its dominance during forecast period as
well owing to increasing adoption of technology across various verticals, such
as retail, manufacturing, healthcare, etc., and presence of key players in the region.
However, Asia-Pacific blockchain supply chain market is expected to witness significant
growth on account of technological advancements and various ongoing projects in
countries such as China, India, etc.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Blockchain Supply Chain Market By Type, By
Provider, By Application, By End User Industry, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth potential of global blockchain
supply chain market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global blockchain supply
chain market.
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