The global blockchain in retail market is projected to reach a substantially large market size of USD 60.97 Billion by 2028 and register a significantly rapid revenue growth rate over the forecast period, according to latest analysis by Emergen Research. The growing demand for blockchain in retail can be attributed to increasing demand for improving retail supply chain efficiency. Blockchain technology is considered to be of immense significance in transforming omnichannel supply chains in the retail industry.
Blockchain helps in maintenance and management of chain-of-custody information, supply chain data, and autonomous transactions, and thereby assists retailers in building customer trust by bringing transparency in the movement of products. Also, implementation of blockchain in retail supply chain provides retailers better insights into the supply chain process – from beginning to end – and in turn, enables retailers to provide precise information to the end-user.
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The Blockchain in Retail research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players involved in the market such as Amazon Web Services, IBM Corporation, Auxesis Group, SAP SE, Coinbase, Microsoft Corporation, Oracle, Blockpoint, Cegeka, and BTL Group.
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Key Highlights of Report
In October 2020, Coinbase made an announcement about the introduction of Crypto Debit Card in the US (except Hawaii) for retail spending.
Application provider segment revenue is expected to grow at the fastest rate over the forecast period. Some major advantages offered by blockchain application providers include reduced IT capital expenditure, easier blockchain application maintenance, and improved collaboration.
Identity management segment is estimated to account for a substantially large market size in 2020. Blockchain in retail helps to protect the identity of customers from breaches and theft. Blockchain allows individuals to make a self-sovereign identity (SSI), eliminating need to create several usernames and passwords, and allows customers to manage digital identity independently.
The blockchain in retail market revenue in Asia Pacific is expected to grow at the fastest rate over the forecast period, attributed to rapid growth of the e-commerce industry, with an increasing number of startups entering the industry.
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Emergen Research has segmented the blockchain in retail market in terms of provider, application, size of organization, and region:
Provider Outlook (Revenue, USD Million; 2018–2028)
Application Provider
Middleware Provider
Infrastructure Provider
Application Outlook (Revenue, USD Million; 2018–2028)
Identity Management
Compliance Management
Payments & Smart Contracts
Loyalty and Rewards Management
Supply Chain Management
Advertising
Others
Size of Organization Outlook (Revenue, USD Million; 2018–2028)
Small & Medium-sized Enterprises
Large Enterprises
The Global Blockchain in Retail Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Blockchain in Retail market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global Blockchain in Retail Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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