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Blockchain Supply Chain Market

The Blockchain Supply Chain Market is expected to expand at a CAGR of 14.1% during the forecast period. Smart ticketing system provides safety from fraud, offers passengers with credit, and helps in elimination of long queue. Rising application of smart ticketing in tourism industry because of its user-friendly feature will strengthen the Blockchain Supply Chain Market size.

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Blockchain Supply Chain Market Dynamics

The incorporation of blockchain technology with a supply chain prevents data exploitation. The technology also allows to record transactions on distributed ledgers, thereby providing better clarity, fraud prevention, and efficiency to different agencies. Thus, several stakeholders are moving towards the blockchain technology to improve transparency and efficiency. Supply chain processes help players in tracing each step from production to delivery. For example, the Eyefortransport Ltd. survey stated that the expenditure was attributed towards identifying the technology with approximately 38.2% of retailers, producers, and brands, and 55.3% of logistics service benefactors divulging that they dispersed money on blockchain in the supply chain area in 2019, which shows huge market potential.

The growing adoption of supply chain by the retailers help in simplifying the process, which is a major factor contributing to the market growth. However, the global blockchain supply chain market forecast projects that the unknown regulatory norms and status may act as a barrier for the market.

Vertical Segment Analysis

The FMCG segment will hold a larger share over the forecast period.  The real-time supply chain visibility holds huge significance for efficacious execution of FMCG supply chain and avoiding unexpected cost. Blockchain in the supply chain for FMCG is used for anti-counterfeiting and consumer data management which has stimulated the overall market growth.

Market Segmentation
Blockchain Supply Chain Market by Component
  • Platform
  • Services
Blockchain Supply Chain Market by Application
  • Payment & Settlement
  • Product Traceability
  • Counterfeit Detection
  • Smart Contracts
  • Risk & Compliance Management
  • Others
Blockchain Supply Chain Market by Vertical
  • FMCG
  • Retail & Consumer Goods
  • Healthcare & Life Sciences
  • Manufacturing
  • Logistics, Oil & Gas
  • Others
Blockchain Supply Chain Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
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