The blockchain supply chain global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Blockchain Supply Chain Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The blockchain supply chain market size has grown exponentially in recent years. It will grow from $1.28 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 59.7%. The growth in the historic period can be attributed to rise in counterfeit products, rising adoption in the automotive industry, increasing use of blockchain for inventory management, rise of blockchain in logistics, and rising demand for resilient supply chains.
The blockchain supply chain market size is expected to see exponential growth in the next few years. It will grow to $13.33 billion in 2028 at a compound annual growth rate (CAGR) of 59.9%. The growth in the forecast period can be attributed to focus on sustainable and ethical sourcing, focus on risk management, need to reduce operational costs, need for real-time monitoring of supply chain activities, and improve supplier relationship management. Major trends in the forecast period include shift towards decentralized supply chain models, anti-counterfeiting solutions, integration of AI with blockchain technology, use of digital twins, and innovations in blockchain security.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing number of cyber-attack instances is expected to propel the growth of the blockchain supply chain market going forward. Cyber-attacks involve intentionally compromising digital systems to steal, alter, or damage data. Cyber-attacks are attributed to vulnerabilities in digital systems, insufficient security measures, and human error, often exploited by malicious actors seeking unauthorized access or disruption. Blockchain technology provides a decentralized and immutable ledger to enhance supply chain security against cyber-attacks, which ensures that all transactions are securely recorded and resistant to tampering. For instance, according to the 2023 Data Breach Report published by the Identity Theft Resource Center, a US-based non-profit organization, in the first three quarters of 2023, newly discovered cyber vulnerabilities surged by 1,620 percent, reaching 86 compared to just 5 for the entire year of 2022. Therefore, the increasing instances of cyber-attacks drive the growth of the blockchain supply chain market.
Market Trends –
Major companies operating in the blockchain supply chain market are developing innovative technologies, such as hyperledger, to enhance supply chain management transparency, security, and efficiency. Hyperledger is an open-source blockchain framework designed to support the development of enterprise-grade blockchain applications, providing a modular and customizable infrastructure for secure and transparent transactions. For instance, in October 2022, BASF SE, a Germany-based chemical company, launched Seed 2 Sew, a blockchain platform. The platform utilizes hyperledger technology, allowing all partners within the cotton value chain to digitally record and approve each step, thus closing the information gap that has historically existed between farmers and the textile industry. This effort enhances sustainability and reduces the carbon footprint associated with cotton garment production.
The blockchain supply chain market covered in this report is segmented –
1) By Component: Services, Platform
2) By Application: Payment And Settlement, Product Traceability, Counterfeit Detection, Smart Contracts, Risk And Compliance Management, Other Applications
3) By Industry Vertical: Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Logistics, Oil And Gas, Other Industry Verticals
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Regional Insights –
North America was the largest region in the blockchain supply chain market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the blockchain supply chain market are Walmart Inc., Amazon.com Inc., Microsoft Corporation, Alibaba Group Holding Limited, Huawei Technologies Co. Ltd., Siemens AG, Deloitte Touche Tohmatsu Limited, Accenture plc, International Business Machines Corporation, Oracle Corporation, Honeywell International Inc., SAP SE, Salesforce Inc., Tata Consultancy Services Limited, Hewlett Packard Enterprise Company, Infosys Limited, Nippon Express Co. Ltd., Wipro Limited, TIBCO Software Inc., VeChain, Chronicled Inc., Guardtime, Omnichain Inc., Auxesis Group, SyncFab Co., Provenance
Table of Contents
1. Executive Summary
2. Blockchain Supply Chain Market Report Structure
3. Blockchain Supply Chain Market Trends And Strategies
4. Blockchain Supply Chain Market – Macro Economic Scenario
5. Blockchain Supply Chain Market Size And Growth
…..
27. Blockchain Supply Chain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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