The global blockchain supply chain market is expected to grow from USD 145 million in 2018 to USD 3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87% during the forecast period.
An increasing need for supply chain transparency and rising demand for enhanced security of supply chain transactions are major growth factors for the market. Growing need for automating supply chain activities and eliminating middlemen with blockchain in supply chain management would create opportunities for market growth during the forecast period.
The blockchain supply chain market study aims at estimating the market size and future growth potential of the market across segments, such as provider, application, industry vertical, and region. The application segment includes payment and settlement, counterfeit detection, product traceability, smart contracts, risk and compliance management, and others* (documentation and rewards management). The product traceability application segment is expected to dominate market in terms of market size, as the blockchain technology could provide real-time information related to products at each stage of supply chain and thus, helps to eliminate possibility of counterfeiting.
The blockchain supply chain market has been segmented on the basis of providers into 3 categories: application and solutions providers, middleware providers, and infrastructure and protocols providers. These providers offer infrastructure to develop in the blockchain-based platforms. Among these types, the application providers type is the fastest growing segment in the overall market. The introduction of technologically advanced blockchain solutions has witnessed a certain level of adoption in supply chain management thereby fueling the overall market growth.
Blockchain supply chain applications are finding an increased adoption among industry verticals, including retail and consumer goods, healthcare and life sciences, manufacturing, oil and gas, and logistics. These major industries are adopting the blockchain technology to enhance transparency, security and product traceability across supply chain. The retail and consumer goods vertical is estimated to hold the largest market size in 2018, owing the high adoption of blockchain technology for payments and settlement, product traceability, and counterfeit detection.
In terms of geographic coverage, the blockchain supply chain market has been segmented into 5 main regions, namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to account for the largest share of the overall market in 2018. North America is considered the most advanced region in terms of technology adoption and infrastructure. The wide presence of key industry players of blockchain technology solutions in this region is the main driving factor for the market. Companies across industry verticals, such as retail and consumer goods, manufacturing, healthcare and logistics, provide significant growth opportunities for vendors in the market. In terms of growth, APAC region is expected to record the highest CAGR during the forecast period with ongoing developments in the major APAC countries, such as China, India, Singapore, and Japan. However, lack of awareness and technical understanding about blockchain technology may restrain the growth of global market.
Major blockchain technology vendors include IBM (US), Microsoft (US), Oracle (US), SAP SE (Germany), AWS (US), Huawei (China), Bitfury (Netherlands), Auxesis Group (India), TIBCO Software (US), BTL Group (Canada), Applied Blockchain (UK), Guardtime (Estonia), Nodalblock (Spain), Peer Ledger (Canada), Blockverify (UK), TransChain (France), RecordsKeeper (Spain), Datex Corporation (US), Ownest (France), Omnichain (US), Traceparency (France), Digital Treasury Corporation (China), Chainvine (UK), VeChain (China), Algorythmix (India), and OpenXcell (US). These players majorly adopted partnerships and new product launches as the key growth strategies to offer feature-rich blockchain technology solutions to their customers and further penetrate regions with unmet needs.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.4 Years Considered for the Study 1.5 Currency 1.6 Stakeholders
2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.2 Primary Data 18.104.22.168 Breakdown of Primaries 22.214.171.124 Key Industry Insights 2.2 Market Size Estimation 2.3 Research Assumptions 2.4 Limitations
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Blockchain Supply Chain Market 4.2 Market By Provider 4.3 Market By Application 4.4 Market By Region 4.5 Investment Opportunities in the Market
5 Market Overview and Industry Trends 5.1 Market Overview 5.1.1 Market Dynamics 126.96.36.199 Drivers 188.8.131.52.1 Increasing Need for Supply Chain Transparency 184.108.40.206.2 Rising Demand for Enhanced Security of Supply Chain Transactions 220.127.116.11 Restraints 18.104.22.168.1 Lack of Awareness of the Blockchain Technology 22.214.171.124.2 Uncertain Regulatory Status and Standards 126.96.36.199 Opportunity 188.8.131.52.1 Growing Need for Automating Supply Chain Activities and Eliminating Middlemen 184.108.40.206 Challenges 220.127.116.11.1 Managing the Increasing Data Volume 18.104.22.168.2 Lack of the Technical Knowledge 5.2 Industry Trends 5.2.1 Market Top Trends 22.214.171.124 Integration of the Blockchain Technology With the Internet of Things 126.96.36.199 Smart Contracts 5.2.2 Market Use Cases 188.8.131.52 Use Case 1: to Check the Authenticity, Provenance, and Origin of Products By Tracking the Global Flow of Goods, By Bigchaindb 184.108.40.206 Use Case 2: to Reduce the Wastage of Food By Improving Food Safety and Traceability, and Helping Its Online and Offline Consumers Across the Globe, By IBM 5.2.3 Advantages of Blockchain in Supply Chain Management
6 Blockchain Supply Chain Market By Provider 6.1 Introduction 6.2 Application and Solution Providers 6.3 Middleware Providers 6.4 Infrastructure and Protocols Providers
7 Market By Application 7.1 Introduction 7.2 Payment and Settlement 7.3 Counterfeit Detection 7.4 Product Traceability 7.5 Smart Contracts 7.6 Risk and Compliance Management 7.7 Others
8 Blockchain Supply Chain Market, By Industry Vertical 8.1 Introduction 8.2 Retail and Consumer Goods 8.3 Healthcare and Life Sciences 8.4 Manufacturing 8.5 Oil and Gas 8.6 Logistics 8.7 Others
9 Market By Region 9.1 Introduction 9.2 North America 9.2.1 By Provider 9.2.2 By Application 9.2.3 By Industry Vertical 9.2.4 By Country 220.127.116.11 United States 18.104.22.168 Canada 9.3 Europe 9.3.1 By Provider 9.3.2 By Application 9.3.3 By Industry Vertical 9.3.4 By Country 22.214.171.124 United Kingdom 126.96.36.199 Germany 188.8.131.52 Rest of Europe 9.4 Asia Pacific 9.4.1 By Provider 9.4.2 By Application 9.4.3 By Industry Vertical 9.4.4 By Country 184.108.40.206 India 220.127.116.11 Singapore 18.104.22.168 China 22.214.171.124 Rest of Asia Pacific 9.5 Latin America 9.5.1 By Provider 9.5.2 By Application 9.5.3 By Industry Vertical 9.5.4 By Country 126.96.36.199 Brazil 188.8.131.52 Mexico 184.108.40.206 Rest of Latin America 9.6 Middle East and Africa 9.6.1 By Provider 9.6.2 By Application 9.6.3 By Industry Vertical 9.6.4 Country 220.127.116.11 Middle East 18.104.22.168 Africa
10 Competitive Landscape 10.1 Overview 10.2 Blockchain Supply Chain Market: Prominent Players 10.3 Competitive Scenario 10.3.1 New Product Launches and Product Upgradations 10.3.2 Partnerships and Collaborations 10.3.3 Acquisitions 10.3.4 Business Expansions
11 Company Profiles 11.1 IBM 11.2 Microsoft 11.3 SAP SE 11.4 AWS 11.5 Huawei 11.6 Oracle 11.7 Guardtime 11.8 Tibco Software 11.9 Auxesis Group 11.10 BTL Group 11.11 Bitfury 11.12 Omnichain 11.13 Vechain Foundation 11.14 Chainvine 11.15 Digital Treasury Corporation 11.16 Blockverify 11.17 Nodalblock 11.18 Peer Ledger 11.19 Openxcell 11.20 Applied Blockchain 11.21 Recordskeeper 11.22 Transchain 11.23 Datex Corporation 11.24 Ownest 11.25 Traceparency 11.26 Algorythmix