Blockchain Supply Chain
What market dynamics are playing a key role in accelerating the growth of the blockchain supply chain market?
The increasing number of cyber-attacks is expected to propel the growth of the blockchain supply chain market. Cyber-attacks, which compromise digital systems to steal or alter data, have become more frequent due to vulnerabilities in digital infrastructure. Blockchain technology offers a decentralized, secure ledger that enhances supply chain security by preventing tampering and ensuring secure transactions. The Identity Theft Resource Center reported a dramatic increase in newly discovered cyber vulnerabilities in 2023, surging by 1,620% compared to 2022. This rise in cyber-attacks is driving the growth of the blockchain supply chain market.
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How will the growth rate of the blockchain supply chain market shape industry trends by 2034?
The blockchain supply chain market has grown exponentially, projected to increase from $2.04 billion in 2024 to $3.27 billion in 2025 at a CAGR of 60.1%. Growth has been fueled by the rise in counterfeit products, increasing adoption in the automotive industry, blockchain’s expanding role in inventory management and logistics, and the demand for more resilient supply chains.
The blockchain supply chain market is set for exponential expansion, reaching $21.29 billion by 2029 at an extraordinary CAGR of 59.8%. The primary factors driving this growth include a greater focus on sustainable and ethical sourcing, increased emphasis on risk management, the need to reduce operational costs, a rising demand for real-time supply chain monitoring, and improved supplier relationship management. Major trends in the forecast period will include a shift toward decentralized supply chain models, the development of anti-counterfeiting solutions, the integration of AI with blockchain technology, the application of digital twins, and innovations in blockchain security.
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What trends are poised to drive the future success of the blockchain supply chain market?
Leading companies in the blockchain supply chain market are focusing on developing innovative technologies, such as hyperledger, to improve transparency, security, and efficiency in supply chain management. Hyperledger is an open-source blockchain framework that supports enterprise-grade blockchain applications by providing modular and customizable infrastructure for secure, transparent transactions. For example, in October 2022, BASF SE, a Germany-based chemical company, launched Seed 2 Sew, a blockchain platform using hyperledger technology. The platform allows all partners in the cotton value chain to digitally record and approve each step, closing the information gap between farmers and the textile industry. This improves sustainability and reduces the carbon footprint associated with cotton garment production.
Which primary segments of the blockchain supply chain market are driving growth and industry transformations?
The blockchain supply chainmarket 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
Subsegments:
1) By Services: Consulting Services, Integration Services, Maintenance and Support Services, Training and Education Services
2) By Platform: Blockchain-as-a-Service (BaaS), Supply Chain Management Platforms, Smart Contract Platforms, Distributed Ledger Technology (DLT) Solutions
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Which geographical regions are pioneering growth in the blockchain supply chain market?
North America was the largest region in the blockchain supply chain market in 2024. 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.
Who are the influential players reshaping the blockchain supply chain market landscape?
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, 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
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What Is Covered In The Blockchain Supply Chain Global Market Report?
•Market Size Forecast: Examine the blockchain supply chain market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the blockchain supply chain market for a structured understanding.
•Key Players Overview: Analyze major players in the blockchain supply chain market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the blockchain supply chain market.
•Segment Contributions: Evaluate how different segments drive overall growth in the blockchain supply chain market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the blockchain supply chain market.
•Industry Challenges: Identify potential risks and obstacles affecting the blockchain supply chain market.
•Competitive Landscape: Review strategic developments in the blockchain supply chain market, including expansions, agreements, and new product launches.
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