Blockchain Market in Retail: Forecast (2017 - 2025)
LONDON, Nov. 20, 2017 /PRNewswire/ -- The Blockchain technology is mainly designed to enable the maintenance of a permission less distributed databases which consists of a growing list of data records that preserves the integrity, singularity and validity of the stored information, without involving any trusted third party for verification purposes. It has potential to protect the identities of the user and makes Blockchain a more secure way to carry out transactions.
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With the modernization in every sector especially by digitalization of currency; Blockchain technologies have penetrated deeply into all the industries verticals. Using blockchain technology, retailers can provide customers with indisputable proof of the provenance and authenticity of their products at every step in the supply chain. This technology helps in differentiating counterfeit or contaminated products from the real ones and prevents a huge loss in sales and brand damage.
Blockchain is growing in food industry as it helps in changing consumer attitudes toward higher quality or specialized food sources by providing assured proof of product purity and origin, as well as the accuracy of ingredient listings. Blockchain-based secure transactions can lessen the need for third parties resulting in reduced time and cost required to complete and ensure transaction integrity and also reduces risk of fraud. Therefore, Blockchain technology is expected to acquire exponential growth.
The report incorporates the distinct analysis of the Blockchain market on the basis of application: Contract management, Payment systems, Procurement, Provenance, Ownership transfer, Asset Tracking and Inventory Control. The market has also been segmented on the basis of type such as public, private and consortium blockchain.
The market has also been studied on the basis of geography that includes a detailed study of the key economies across each region such as Americas, Asia-Pacific, Europe and others. The report also contains a detailed analysis of financials, strategy, products, and recent developments of the leading companies in the Blockchain market.
North American region is the dominating region for global blockchain market as more than half of the manufacturing sector companies, life sciences and healthcare sector organizations have taken steps to implement blockchain technology. Growing interest in blockchain applications may be one reason for companies to create commercial products and services using blockchain concepts in this region.
North America region is followed by European and Asia-Pacific region. This is due to increasing interest about Blockchain technology among the citizens, businesses and legislators across the European Union.
Sample Companies profiled in this report are:
Microsoft Corporation (U.S.),
IBM Corporation (U.S.),
Deloitte Touche Tohmatsu Limited (U.S.),
Ripple (U.S.),
BTL Group Ltd. (Canada),
10+.
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