Blockchain Supply Chain Market Size, Share Analysis, Key Companies, and Forecast To 2028

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Market Size – USD 271 Million in 2020, Market Growth – at a CAGR of 63.9%, Market Trend – Rising demand for transparency and secure transactions in supply chain

The Blockchain Supply Chain Market size reached USD 271 million in 2020 and is expected to reach USD 14,180 million in 2028 and register a CAGR of 63.9% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing need of transparency in the supply chain, technological advancements in transactions in supply chain are factor driving rising focus on improving data security and maintaining records of transactions. In addition, this trend is expected to continue during the forecast period.

Increasing adoption of Internet of Things (IoT) technology, digital record of data validation, and increase in traceability of products or goods in transportation to resolve associated problems are factors expected to fuel adoption of blockchain supply chain going head. Rising utilization of blockchain technology in retail and supply chain sectors are factors prompting major players to invest in blockchain supply chain.

Some of the key participants in this industry include:

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

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Some Key Highlights From Report

• In April 2021, IBM Corporation and IPwe entered into partnership to build the infrastructure for representing patents as Non-Fungible Tokens (NFTs) and storing the records on a blockchain network. Tokenization of intellectual property (IP) can enable to sell, share, commercialize, or otherwise monetize patents, as well as add new liquidity to the market.

• Services segment accounted for largest revenue share in the blockchain supply chain market in 2020, which is projected to incline rapidly during the forecast period. Increasing need for transparency in supply chain, rising adoption of technology in supply chain functions, and improved services such as decentralization, immutability, faster, and low-cost transactions are factor boosting the market growth.

• Inventory monitoring segment revenue growth rate is projected to incline rapidly during the forecast period. Rising need for more data accuracy and authenticity, and increasing focus on streamlining workflow and keeping accurate record and maintaining hassle free inventory are another factor boosting market revenue growth during the forecast period.

• Logistics segment accounted for largest revenue share in the global blockchain supply chain market in 2020, which is expected to incline rapidly during the forecast period.

• North America accounted for largest revenue share contribution to the global blockchain supply chain market in 2020. Increasing adoption of technologically advanced systems such as Artificial Intelligence and Internet of Things are factors expected to boost growth of the blockchain supply chain market in the region.

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Emergen Research has segmented the global blockchain supply chain market on the basis of component, type, application, end use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

Platform
Services

Type Outlook (Revenue, USD Billion; 2018–2028)

Public
Private
Consortium

Application Outlook (Revenue, USD Billion; 2018–2028)

Smart Contracts
Payment & Settlement
Product Traceability
Compliance Management
Inventory Monitoring
Others

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End Use Outlook (Revenue, USD Billion; 2018–2028)

Manufacturing
Logistics
Retail
Healthcare
Food & Beverages
Oil & Gases
Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

North America

U.S.
Canada
Mexico

Europe

Germany
France
U.K.
BENELUX
Switzerland
Rest of Europe

Asia Pacific

China
Japan
South Korea
India
Rest of APAC

Latin America

Brazil
Rest of LATAM

Middle East & Africa

Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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Valuable Market Insights:

• The report highlights the latest trends observed in the consumption pattern of each regional segment.

• Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.

• The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Blockchain Supply Chain market.

• The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

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