Blockchain is a solution for majority of the industrial digital concerns such as, supply chain management, transaction speed, compliance management, product security and counterfeiting, transparency, and others. Blockchain as a technology initially was developed to serve as the public transaction ledger for cryptocurrencies, which uses distributed databases and cryptography to record and secure transactions. This characteristic of blockchain provides a high level of security while transmitting and storing data, open and transparent network infrastructure, decentralized ledger, and low cost of operations benefits. Moreover, blockchain in retail is anticipated to change the paper-intensive international trade processes to digital processes.
Factors such as increase in demand for transparent transactions and smart contracts is the key factor driving the market growth for the blockchain in retail industry. In addition, increase in investment by retail industries in blockchain-based solutions is also expected to boost the market growth. Moreover, rise in need to ensure quality, reliability, authenticity, and product safety are also some of the factors fueling the demand for blockchain solutions and services across global retailers. However, scarcity of skilled experts is expected to impede the market growth during the forecast period. Furthermore, rapid changes in the retail industry due to technological advancements and international trade are expected to provide major growth opportunities for the blockchain retail market in upcoming years.
The global blockchain in retail market is segmented based on component, application, organization size, and region. Based on component, the market is bifurcated into platform and services. Based on application, the market is divided into compliance management, identity management, loyalty and rewards management, payments & smart contracts, supply chain management, others. Based on organization size, the market is classified into large enterprises and small & medium enterprises. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the market. These include Amazon Web Services, Inc. (AWS), Auxesis Services & Technologies (P) Ltd., Bitfury Group Limited, Cognizant, Infosys Limited, International Business Machines Corporation (IBM), Microsoft Corporation, Oracle Corporation, SAP SE, and Tata Consultancy Services Limited.
- The report provides an in-depth analysis of the global blockchain in retail market, outlining current trends, key driving factors, and potential areas for product investments.
- Key players are analyzed with respect to their primary offerings, recent investments, and future development strategies.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global blockchain in retail market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
- Compliance management
- Identity Management
- Loyalty and Rewards Management
- Payments & Smart Contracts
- Supply Chain Management
BY ORGANIZATION SIZE
- Large Enterprises
- Small & Medium Enterprises
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players PROFILED IN THE REPORT
- Amazon Web Services, Inc. (AWS)
- Auxesis Services & Technologies (P) Ltd.
- Bitfury Group Limited
- Infosys Limited
- International Business Machines Corporation (IBM)
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Tata Consultancy Services Limited.