The global Blockchain In Retail market size is expected to reach close to $ 133994.07 Mn. by 2029 with an annualized growth rate of 96.2% through the projected period.
Retail industry is one of the major adopters of advanced technologies such as artificial intelligence, machine learning, chatbots, AR & VR, and blockchain. Although this industry is still in nascent stages of blockchain deployment, some of the retail giants such as Wallmart and Alibaba are already working with some of the industry players to deploy blockchain enabled solutions. For example, Wallmart is working with IBM for food safety blockchain solution. Moreover, blockchain in retail can enable retailers to record-time service, provide real-time information, and ensure on-time delivery of the products.
The aim of the report is to estimate the size of the market for blockchain in retail and the future growth potential of the market for blockchain in retail across various segments, such as service providers, organization size, and application.
The riising number of retail & e-commerce startups across the countries China and India is expeted to drive the demand for the blockchain in retails market in the Asia-Pacific region. In addition, increase in need to identify fake products from retail supply chain and application of blockchain technology in rewards & loyalty management & smart contracts areanticipated to offer major growth opportunities for the market in forthcoming years..
The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated. Factors such as the need for transparent trasnaction solutions and increase in demand for solutions to boost speed & efficiency in supply chain & retail transactions are the key drivers of the blockchain in the retail market. However, the lack of a common set of standards and awareness about the technology is hampering the market growth. Furthermore, the rapidly changing retail and international trade sector is anticipated to offer significant growth opportunities for the market.
Blockchain In Retail Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||$ 133994.07 Mn.|
|Growth Rate||CAGR of 96.2% during 2021-2029|
|Segment Covered||by Provider, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||IBM, SAP, Microsoft, Oracle, AWS, Bitfury, Auxesis Group, Cegeka, BTL, Guardtime, CoinBase, loyyal, Sofocle, BigchainDB, RecordsKeeper, BitPay, Abra, Reply, Provenance, ModulTrade, Blockverify, OGYDocs, Warranteer, Blockchain Foundary|
Key Segments of the Global Blockchain In Retail Market
Service Providers Overview, 2018-2028 (USD Million)
- Application Providers
- Infrastructure Providers
- Middleware Providers
Organization Size Overview, 2018-2028 (USD Million)
- Large Organizations
- Small & Medium Oraganizations
Application Overview, 2018-2028 (USD Million)
- Smart Contracts
- Identity Management
- Compliance Management
- Rewards & Loyalty Management
- Supply Chain Management
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in the Global Blockchain In Retail market
- Applied Blockchain
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of blockchain in retail market benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on blockchain in retail market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the blockchain in retail industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on service providers, organization size, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Blockchain In Retail market. The report will benefit: Every stakeholder involved in the blockchain in retail market.
- Managers within the blockchain in retail industry looking to publish recent and forecasted statistics about blockchain in retail market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global blockchain in retail market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.