Blockchain in Supply Chain Market is Expected to Reach Staggering Market value by 2032
Blockchain in Supply Chain Market by Forecast 2032 | MRFR
Report Details:
15 Companies Covered
100 Pages
Market Research Future published a half-cooked research report on Blockchain in Supply Chain market research report — forecast till 2032.Market Highlights
Blockchain in Supply Chain Market Highlights
Blockchain technology resolves three main issues of supply chain management — counterfeit, visibility/traceability, and efficiency play. When the product transfers from one vendor to another or vendor to user or vendor to organization, transaction is well-documented that helps in reduced time delays costs and human errors. The blockchain technology improves various tasks of supply chain management such as recording, tracking, assigning, linking, and sharing among others. Block chain is used in supply chain to track purchase orders, change order, get shipment notifications, or trade-related documents. Globally, the blockchain in supply chain market is expected to grow from USD 1.455 Billion in 2024 to USD 20.5 Billion by 2032, at a CAGR of 39.19% during the forecast period 2024–2032.
Key Players
The key players in blockchain in supply chain technology market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.The prominent players in blockchain in supply chain market are IBM Corporation (US), Microsoft Corporation (US), Ripple (US), Coinbase (US), Chain, Inc.(US), Abra, Inc (US)., Blockchain Tech Ltd (UK)., Earthport PLC (UK), Bitfury Group ( The Netherlands), Deloitte, Inc. (UK), and Digital Asset Holdings (US) among others.
Regional Analysis
The global market for blockchain in supply chain is estimated to grow at a significant rate during the forecast period from 2024 to 2032. The geographical analysis of blockchain in supply chain market is studied for North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate blockchain in supply chain market during forecast period. Wide presence of big players and early adoption of new technologies such as IoT and artificial intelligence (AI) drives the blockchain in supply chain market in North America. Retail and consumer goods verticals will be expected to drive the market during forecast period. Asia-Pacific is expected grow at the fastest rate during the forecast period. Retail and consumer good sectors will be expected to drive the blockchain in supply chain market as Asia-Pacific is the second largest region in e-commerce market. However, lack of awareness about blockchain technology may restrain the blockchain in supply chain market in APAC region during the forecast period. Europe is expected to grow at a stable rate during forecast period. Healthcare vertical is expected to drive the blockchain in supply chain market in Europe.