Blockchain in Retail Market Analysis
The global blockchain in retail market will touch USD 4.63 billion at a stellar 89.9% CAGR during the forecast period 2021- 2028, states the latest Market Research Future (MRFR) analysis. Blockchain in retail offers on-time delivery, record-time service, and real-time information for retailers.
Various factors are fuelling the global blockchain in retail market growth. As per the recent MRFR market estimates, such factors include the growing adoption of blockchain technology by retailers for streamlining business processes like payment and order management, database management, and inventory management, ensure product authenticity and safety, incorporate supply-chain visibility, growing interest in the use of blockchain technology in supply chain management & retail industry, increasing need for speed and efficiency in retail and supply chain transaction, rapidly transforming international trade, retail industry scenario backed by rising venture investments and funding towards the blockchain technology providers, and growing business sales opportunities.
The additional factors adding market growth include growing business sales opportunities, increasing authenticity and counterfeits of products, growing need to monitor supply chain transactions owing to easy traceability, growing trading activities across the world, rising customer demands, and increasing investments by retailers for easy, speedy, and secure transactions.
On the contrary, lack of regulatory standards to stop data breach in the retail sector due to smoothing transactions and reducing counterfeits, lack of awareness and technical expertise in retail sector, procuring expertise and talent that better understand blockchain technology, the interoperability among different blockchains, lack of integration of legacy systems with blockchain technology, and the impact of the COVID-19 pandemic may limit the global blockchain in retail market growth over the forecast period.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/7703
Blockchain in Retail Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global blockchain in retail market based on type, platform, organization size, and application.
By type, the global blockchain in retail market is segmented into consortium, private, and public.
By platform, the global blockchain in retail market is segmented into Quorum, Multichain, Hyperledger Fabric, R3 Corda, Ethereum, Ripple, Bitcoin, and others,
By organization size, the global blockchain in retail market is segmented into small and medium size enterprises and large enterprises. Of these, large enterprises segment will lead the market over the forecast period.
By application, the global blockchain in retail market is segmented into fraud management, loyalty and rewards management, inventory management, payment management, auditing, database management, compliance management, and others.
Blockchain in Retail Market Regional Analysis
By region, the global blockchain in retail market covers the recent trends and growth opportunity across Europe, North America, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will command the market over the forecast period.
The presence of several retail enterprises in Mexico, Canada, and the US, increasing focus on online security, data control, and personal identity between retailers and customers, increasing adoption of infrastructure and technology, the wide presence of key industry players and multinational retailers that are adopting blockchain technology, rise in data security concerns among retailers, increasing cases of breaching data and counterfeits, and increasing government regulations are adding to the global blockchain in retail market growth in the region.
In Europe, the global blockchain in retail market is predicted to hold the second-largest share over the forecast period for increasing adoption of blockchain in the UK, France, and Germany, and the adoption of crytocurrencies by European retailers to promote cross-border trade.
In the APAC region, the global blockchain in retail market is predicted to have promising growth over the forecast period. Increasing use in the retail industry, increasing funding-backed startup activities in the blockchain technology aimed to transform the retail industry scenario, and adoption of blockchain by e-commerce enterprises and fashion brands are adding to the global blockchain in retail market growth in the region.
In RoW, the global blockchain in retail market is predicted to have sound growth over the forecast period for the growing investments by retail enterprises to implement blockchain solutions for streamlining business operations and adoption by retail and e-commerce enterprises.
Get Complete Report Details @ https://www.marketresearchfuture.com/reports/blockchain-in-retail-market-7703
Blockchain in Retail Market Key Players
The prominent players profiled in the global blockchain in retail market report include
- Tata Consultancy Services Limited (India)
- Microsoft Corporation (US)
- Guardtime (US)
- Oracle Corporation (US)
- Amazon Web Services (US)
- BlockApp (US)
- Bitpay (US)
- Microsoft Corporation (US)
- Bitfury USA Inc. (US)
- Cognizant (US)
- Cisco Systems (US)
- Blockpoint Systems (US)
- Coin Sciences Ltd. (UK)
- SAP SE (Germany)
- IBM Corpration (US)
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]
According to a new market research report "Blockchain in Retail Market by Provider, Application (Compliance Management, Identity Management, Loyalty & Rewards Management, Payment, Smart Contracts, and Supply Chain Management), Organization Size, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the blockchain in retail market expected to grow from USD 80.0 million in 2018 to USD 2,339.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 96.4% during the forecast period.The major factors driving the blockchain in retail market include need to reduce the total cost of ownership, upswing in the usage of blockchain technology to create transparent and decentralized supply chain systems, an increasing need to prevent data manipulation and for increasing efficiency and speed in retail and supply chain systems.Browse in-depth TOC on "Blockchain in Retail Market”41-Tables29-Figures125- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79569008The supply chain management segment is estimated to hold the largest market size in the blockchain in retail market in 2018The supply chain management segment is expected to dominate the blockchain in retail market in terms of its contribution to the overall market, as retail companies are deploying blockchain-based supply chain management applications to reduce frauds and errors, improve inventory management, reduce delays from paperwork, identify issues faster, and increase the customer and partners trust.
The blockchain technology helps organization overcome the existing limitations of supply chain systems in terms of privacy, scalability, auditability, confidentiality, and performance.The application providers segment is expected to grow at the highest CAGR in the global blockchain in retail market during the forecast periodThe blockchain in retail market has been segmented on the basis of providers into 3 categories: application providers, middleware providers, and infrastructure providers.
These providers offer infrastructure to develop in the blockchain-based platforms.
The introduction of technologically advanced blockchain solutions are projected to a drive their adoption in the retail vertical thereby fueling the overall market growth.North America is expected to hold the largest market size in the blockchain in retail market during the forecast periodNorth America is estimated to hold the largest market size in the overall market in 2018.
Moreover, the US government is exploring the blockchain technology to boost the innovation economy.Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=79569008Major blockchain vendors in market are IBM (US), SAP (Germany), Microsoft (US), Oracle (US), AWS (US), Bitfury (the Netherlands), Auxesis Group (India), Cegeka (the Netherlands), BTL (Canada), Guardtime (Estonia), CoinBase (US), loyyal (US), Sofocle (India), BigchainDB (Germany), RecordsKeeper (Spain), BitPay (US), Abra (US), Reply (Italy), Provenance (UK), ModulTrade (UK), Blockverify (UK), OGYDocs (Israel), Warranteer (Israel), and Blockchain Foundary (Singapore).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
The blockchain technology offers the retail industry an opportunity to accept cryptocurrencies for payments, enabling cross-border payments and micro-payments.
Several retail companies such as Walmart Inc., Amazon.com Inc., Alibaba Group Holding Limited, and Shopify are leading the way by adopting Bitcoin transactions.The report provides information on Blockchain in Retail market trends and development, growth drivers, technologies & forecast with expert review.Blockchain has immense potential to streamline transport and logistics processes to track every stage of a product’s journey with real-time information resulting in the reduction of stolen, lost, or damaged goods.
Walmart Inc., an American multinational retail corporation, has already adopted the blockchain technology to keep track of each piece of pork sourced from China with detailed information regarding origin, processing and storage of the product.
With the help of blockchain technology retailers are implementing transparency in the supply chain management.
Wave, an Isreali company, provides blockchain technology to retailers to assist them in tracking their supply chains with the secured and paperless process.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7703Blockchain allows retailers to capture data at every stage of customer interaction to assess customer buying patterns and trends.
Retailers are proactively exploring blockchain’s capabilities along with artificial intelligence and big data analysis for customer loyalty schemes to store loyalty points within a single wallet making it easier to track and redeem the reward points.Regional AnalysisThe global market for blockchain in retail is estimated to grow at a significant rate during the forecast period from 2018 to 2024.
The highly preferred study on “Blockchain in Retail Market” done by MarketsandMarkets™ provides broad analysis about Blockchain in Retail Industry on the basis of Types, Applications and key players.According to new study "Blockchain in Retail Market by Provider, Application (Compliance Management, Identity Management, Loyalty & Rewards Management, Payment, Smart Contracts, and Supply Chain Management), Organization Size, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the Blockchain in Retail Market expected to grow from USD 80.0 million in 2019 to USD 2,339.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 96.4% during the forecast period.The major factors driving the Blockchain in Retail Market include need to reduce the total cost of ownership, upswing in the usage of blockchain technology to create transparent and decentralized supply chain systems, an increasing need to prevent data manipulation and for increasing efficiency and speed in retail and supply chain systems.Browse in-depth TOC on "Blockchain in Retail Market”41- Tables29- Figures 125- PagesAsk for Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79569008The supply chain management segment is estimated to hold the largest market size in the Blockchain in Retail Market in 2019The supply chain management segment is expected to dominate the Blockchain in Retail Market in terms of its contribution to the overall market, as retail companies are deploying blockchain-based supply chain management applications to reduce frauds and errors, improve inventory management, reduce delays from paperwork, identify issues faster, and increase the customer and partners trust.
The blockchain technology helps organization overcome the existing limitations of supply chain systems in terms of privacy, scalability, auditability, confidentiality, and performance.The application providers segment is expected to grow at the highest CAGR in the global Blockchain in Retail Market during the forecast periodThe Blockchain in Retail Market has been segmented on the basis of providers into 3 categories: application providers, middleware providers, and infrastructure providers.
These providers offer infrastructure to develop in the blockchain-based platforms.
The introduction of technologically advanced blockchain solutions are projected to a drive their adoption in the retail vertical thereby fueling the overall market growth.Speak to our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=79569008North America is expected to hold the largest market size in the Blockchain in Retail Market during the forecast periodNorth America is estimated to hold the largest market size in the overall market in 2019.
Moreover, the US government is exploring the blockchain technology to boost the innovation economy.Major vendors in Blockchain in Retail Market are IBM (US), SAP (Germany), Microsoft (US), Oracle (US), AWS (US), Bitfury (the Netherlands), Auxesis Group (India), Cegeka (the Netherlands), BTL (Canada), Guardtime (Estonia), CoinBase (US), loyyal (US), Sofocle (India), BigchainDB (Germany), RecordsKeeper (Spain), BitPay (US), Abra (US), Reply (Italy), Provenance (UK), ModulTrade (UK), Blockverify (UK), OGYDocs (Israel), Warranteer (Israel), and Blockchain Foundary (Singapore).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
