Blockchain Supply Chain Market was estimated at USD 253 Million in 2020 and anticipated to grow at a 53.2% over the forecast period.

Introduction of the Blockchain Supply Chain Market Report

Blockchain can allow more transparency and precise end-to-end tracing in the supply chain. Corporations can digitalize assets and establish a reorganized immutable record of all operations, making it feasible to track assets from manufacture to delivery or use by end user.

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Market Dynamic Key Drivers and Emerging Trends

The increasing adoption of supply chain processes by the retail players to streamline the process is a leading factor for expanding the market globally. The supply chain process helps the players and the consumer track each step from production to delivery. For instance, in a survey by Eyefortransport Ltd., the spending was pointed towards recognizing the technology with 38.2% of retailers, manufacturers, and brands, and 55.3% of logistics service benefactors stating that they spent money on blockchain in the supply chain area in 2019, which shows the enormous potential of the market. In addition, increasing popularity of blockchain is another factor that has driven the market’s growth. Several stakeholders in the supply chain industry have begun adopting blockchain technology to enhance efficiency and transparency in business operations and enhance the total experience of the final delivery phase. The combination of blockchain technology with a supply chain system inhibits data exploitation, which is likely to be one of the driving factors for the overall growth of the blockchain market. This technology further enables recording transactions on distributed ledgers, thus offering increased transparency, fraud prevention, and improved efficiency to various agencies.

Restraint in the Blockchain Supply Chain Market

However, uncertain regulatory standards and status is likely to hamper the overall growth of the market, over the forecast period.

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Component – Segment Analysis

Based on the component, platform is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rising adoption of platforms to streamline the overall supply chain process. New start-ups during the 2020 and 2021, have offered platform to the supply chain industry, and have quickly changed the business.

Vertical – Segment Analysis

Based on the vertical, FMCG is witnessed to grow at a higher CAGR in the market over the forecast period.  The real-time supply chain visibility becomes completely important for effective FMCG supply chain implementation and unexpected cost avoidance. Blockchain supply chain policy and services offer FMCG firms with real-time supply chain visibility and minimized operating cost. The uses of blockchain in the supply chain for FMCG include anti-counterfeiting, consumer data management which has surged the overall expansion of the market.

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Regional – Segment Analysis:

Based on the regional coverage, North America is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the increasing adoption of latest technologies by the US and Canada, which has provided the boost of the growth of the market. In addition, ever-increasing cases of data breaching in the region has provided the momentum to the market as it provides data security and authenticity. For instance, government interventions ranging from the Army to the IRS witness around 70 breach events a day, as stated by the Government Accountability Office. Blockchain can enable more clear and precise end-to-end tracking in the supply chain.

Top Market Players

Various notable players operating in the market, include, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Amazon Web Services Inc., Huawei Technologies Co., Ltd., TIBCO Software Inc., Auxesis Group, Guardtime Inc., BTL Group, among others. 

Key Developments:

• • In 2020, Oracle and HACERA team up on multi-cloud Blockchain-Based MiPasa Data Platform. MiPasa is a blockchain-based, distributed data platform launched by HACERA, which simplifies and streamlines the process of sharing and using data from multiple providers.

Segments covered in the Report:

The global blockchain supply chain market has been segmented on the basis of component, application, vertical, and regions. Based on component, the market is segmented into platform, and services. Based on application, the market is segmented into payment & settlement, product traceability, counterfeit detection, smart contracts, risk & compliance management, and others. Based on vertical, the market is segmented into FMCG, retail & consumer goods, healthcare & life sciences, manufacturing, logistics, oil & gas, and others. 

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Key questions answered in this research report:

• • At what pace is global blockchain supply chain market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in blockchain supply chain market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global blockchain supply chain market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various application areas of global blockchain supply chain market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Blockchain Supply Chain Market by Component

• • Platform
  • Services

Global Blockchain Supply Chain Market by Application

• • Payment & Settlement
  • Product Traceability
  • Counterfeit Detection
  • Smart Contracts
  • Risk & Compliance Management
  • Others

Global Blockchain Supply Chain Market by Vertical

• • FMCG
  • Retail & Consumer Goods
  • Healthcare & Life Sciences
  • Manufacturing
  • Logistics, Oil & Gas
  • Others

Global Blockchain Supply Chain Market by Region

• • North America Blockchain Supply Chain Market (Option 1: As a part of the free 25% customization)
    • North America Blockchain Supply Chain Market by Component
    • North America Blockchain Supply Chain Market by Application
    • North America Blockchain Supply Chain Market by Vertical
    • US Blockchain Supply Chain Market All-Up
    • Canada Blockchain Supply Chain Market All-Up
  • Europe Blockchain Supply Chain Market (Option 2: As a part of the free 25% customization)
    • Europe Blockchain Supply Chain Market by Component
    • Europe Blockchain Supply Chain Market by Application
    • Europe Blockchain Supply Chain Market by Vertical
    • UK Blockchain Supply Chain Market All-Up
    • Germany Blockchain Supply Chain Market All-Up
    • France Blockchain Supply Chain Market All-Up
    • Spain Blockchain Supply Chain Market All-Up
    • Rest of Europe Blockchain Supply Chain Market All-Up
  • Asia-Pacific Blockchain Supply Chain Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Blockchain Supply Chain Market by Component
    • Asia-Pacific Blockchain Supply Chain Market by Application
    • Asia-Pacific Blockchain Supply Chain Market by Vertical
    • China Blockchain Supply Chain Market All-Up
    • India Blockchain Supply Chain Market All-Up
    • Japan Blockchain Supply Chain Market All-Up
    • Rest of APAC Blockchain Supply Chain Market All-Up
  • RoW Blockchain Supply Chain Market (Option 4: As a part of the free 25% customization)
    • RoW Blockchain Supply Chain Market by Component
    • RoW Blockchain Supply Chain Market by Application
    • RoW Blockchain Supply Chain Market by Vertical
    • Brazil Blockchain Supply Chain Market All-Up
    • South Africa Blockchain Supply Chain Market All-Up
    • Saudi Arabia Blockchain Supply Chain Market All-Up
    • UAE Blockchain Supply Chain Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Blockchain Supply Chain Market All-Up

Major Players Operating in the Blockchain Supply Chain (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • Oracle Corporation
  • Microsoft Corporation
  • SAP SE
  • Amazon Web Services Inc.
  • Huawei Technologies Co., Ltd.
  • TIBCO Software Inc.
  • Auxesis Group
  • Guardtime Inc.
  • BTL Group