Market Overview:
Blockchain technology solves the three main problems in supply chain management: counterfeiting, visibility/traceability and efficiency play. When a product is transferred from one supplier to another or from supplier to user or from supplier to organization, transactions are well documented, helping to reduce time delay costs and human error.
Blockchain technology improves various tasks in supply chain management such as recording, tracking, allocation, linking and sharing. Blockchain is used in the supply chain to track purchase orders, change orders, receive delivery notifications, or receive transactional documents. Globally, blockchain in the supply chain market is expected to grow from $81.4 million in 2017 to $3485.25 million in 2023 with a CAGR of 87% over the forecast period 2018-2023.
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.
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Market Segmentation:
Blockchain Supply Chain Market By Application:
* Payment & Settlement
* Counterfeit Detection
* Product Traceability
* Smart contracts
* Risk & Compliance Management
* Others (Documentation and Rewards Management)
Blockchain Supply Chain Market By Provider:
* Application and Solution providers
* Middleware providers
* Infrastructure and protocols providers
Blockchain Supply Chain Market By Industry Vertical:
* Retail and Consumer Goods
* Healthcare and Life Sciences
* Manufacturing
* Oil and Gas
* Logistics
* Others (Construction and Agriculture)
Research Methodology
The research methodology used to predict and predict the blockchain supply chain market begins with capturing data on key supplier revenues through secondary research involving directories and databases (D&B Hoovers, Bloomberg Businessweek and Factiva). Vendor products were also considered to determine market segmentation. The bottom-up procedure was used to reach the overall market size of the global market, derived from the revenues of the major players in the market.
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