BusinessTech

Blockchain in Retail Market 2022-27: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

The latest research study “Blockchain in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Global Blockchain in Retail Market size reached US$ 233.5 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3,731.75 Million by 2027 exhibiting a CAGR of 54.50% during 2022-2027.

Blockchain in retail is a disruptive technology that depends on cryptography to record digital transactions on a distributed ledger in the retail industry. It is an economical solution as it automates the transactions and the interoperability of applications and abolishes the need for administration. It helps businesses track the product back to the supply chain, and identify suppliers, manufacturers and batches to resolve supply chain issues. It allows decentralized identity (DID), which helps retailers verify user identity and data when needed. In recent years, blockchain in retail has gained momentum as it allows employees to focus more on value-added work by streamlining administrative procedures in the back office of retailers.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Download free sample brochure: https://www.imarcgroup.com/blockchain-in-retail-market/requestsample

Interior Design Software Market Trends:

One of the primary factors driving the market is the augmenting demand for transparent transactions in the retail industry to build trust between companies, suppliers, and customers. Additionally, the key players are extensively investing in blockchain-based solutions to ensure reliability, quality, authenticity, and product safety. 

Other than this, blockchain provides enhanced cryptographic security for its databases and transactions that help in the sustainability of retailers and fraud reduction, thus creating a positive market outlook. Besides this, the escalating utilization of blockchain in retail for online shopping, digital payment, and risk and compliance is propelling the market growth. In line with this, the increasing deployment of blockchain in retail to monitor supply chain transactions for easy traceability of goods is accelerating the product adoption rate. 

Furthermore, there has been escalating demand for smart contracts to save time and cost for companies and expel merchants who charge extra for authenticating a transaction. This, along with the constant technological advancements and international trade in the retail sector, are other major growth-inducing factors.

Click here to view detailed information with table of content: https://www.imarcgroup.com/blockchain-in-retail-market

Blockchain in Retail Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 233.5 Million
Market forecast in 2027US$ 3,731.75 Million
Growth RateCAGR of 54.50% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredComponent, Type, Organization Size and Application
Regional scopeNorth America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiledAmazon Web Services Inc. (Amazon.com Inc.), Auxesis Services & Technologies (P) Ltd, Cognizant, Infosys Limited, International Business Machines Corporation, Oracle Corporation, Reply, SAP SE, Sofocle Technologies Pvt. Ltd. and Tata Consultancy Services Limited (Tata Group).
Market DynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purviewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

  • Platform/Solutions
  • Services

Breakup by Type:

  • Public Blockchain
  • Private Blockchain
  • Consortium Blockchain

Breakup by Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Breakup by Application:

  • Supply Chain Management
  • Food Safety Management
  • Customer Data Management
  • Identity Management
  • Compliance Management
  • Others

By Geography:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

List of Major Key Players:

The major players in the market are Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Services & Technologies (P) Ltd, Cognizant, Infosys Limited, International Business Machines Corporation, Oracle Corporation, Reply, SAP SE, Sofocle Technologies Pvt. Ltd. and Tata Consultancy Services Limited (Tata Group).

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Kate

Kate Johnson is a content writer, who has worked for various websites and has a keen interest in Forex and stock market. He is also a college graduate who has a B.A in Journalism. Read More: Forex Signal Service Read More: Stock Trade Signals

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button