Blockchain in Retail Market 2019 – 2024: Business Top Leaders, Industry Trends, Size, Global …

Blockchain in Retail Market 2019 – 2024: Business Top Leaders, Industry Trends, Size, Global Segments and Profit Growth by Regional Forecast

“”Blockchain in Retail Market””
Global Blockchain in Retail Market is estimated to reach USD 1.76 billion by 2024 growing at a 78.49% CAGR during the forecast period 2018–2024 and Blockchain in Retail Market Research Report: By Type (Public, Private, Consortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger Fabric, Multichain, Quorum and others).

Blockchain in Retail Market Synopsis:

As per the report published by Market Research Future (MRFR), the global blockchain in retail market is expected to demonstrate a staller CAGR of 78.49% between 2019 and 2024. The market is expected to reach a valuation of USD 1.76 Bn by the end of the forecast period. The rapid adoption of blockchain in the retail sector to simplify various business processes including database management, incorporate supply-chain visibility, ensure product authenticity and safety, payment and order management and inventory management.

Blockchain is viewed as a revolutionary technology, which is enabling streamlining of procedures and making transaction activities transparent and simpler. The technology facilitates faster and uninterrupted transactions and develops a peer-to-peer network system. Moreover, it also simplifies the ledger for recording the transaction and ensures a transparent consensus mechanism for transaction validation.

Blockchain in Retail Market holds tremendous potential and is touted as a technology that is going to reinvent business functions. Enterprises are inclining towards blockchain to secure their transaction systems. Using blockchain, businesses can streamline supply chain activities, auditing, accounting processes, compliance and inventory management. It also enables, enterprises remove redundant database systems. Retail companies the increasingly relying on retail companies to raise authenticity standards, and product safety and product quality. Most importantly blockchain allows retail companies to improve bottom-line.

Retail brands are implementing blockchain solutions to develop smart contracts and automate payment modules and thereby improve inventory management systems. The need for effective operational structure and precise assessment required inventory size is influence the adoption of blockchain in retail. The technology not only improves operational efficiency but also greatly enhances payment convenience for customers. The global blockchain in retail market is also benefiting from growth of e-commerce and robust internet penetration.

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Blockchain in Retail Market Competition Analysis:

IBM Corporation, SAP SE, Bitfury USA Inc., Cegeka, Blockpoint Systems, Bitpay, Guardtime, Microsoft Corporation, Coin Sciences Ltd., Amazon Web Services, Cognizant, Blockverify (Venture Proxy Ltd), Oracle Corporation, Tata Consultancy Services Limited, Cisco Systems Inc., Coinbase, Auxesis Group, and BlockApps are among the leading companies covered in MRFR’s report.

Blockchain in Retail Market Segmental Analysis:

The segmental analysis of the market has been conducted based on application, organization size, platform and type.

  • On the basis of application, key segments include database management, payment management, loyalty and rewards management, compliance management, fraud management, inventory management, auditing and others.
  • On the basis of organization size, small & medium enterprises (SMEs) and large enterprises.
  • On the basis of platform, key segments include ripple, R3, hyperledger fabric, quorum, bitcoin, ethereum, multichain, corda and others.
  • On the basis of type, key segments include consortium, private and public.

Blockchain in Retail Market Regional Analysis:

North America currently dominates the global blockchain in retail market in terms of revenue. The region is expected to remain highly profitable during the forecast period. Countries such as the US, Mexico and Canada continue to undergone tremendous digitization, which is creating application opportunities. Moreover, presence of massive retail enterprises is supporting the market growth in the region. Europe is the second largest market for blockchain in retail.

In terms of revenue, countries such as France, the UK, Germany are expected to makes considerable contribution to the Europe Blockchain in retail market during the forecast period. Asia Pacific is third in the pecking order and is likely to emerge as a high growth market for blockchain in retail in future. Fast adoption of blockchain technology in the retail sector is primarily driving the market in APAC. The market in regions such as the Middles East and South America is also expected to witness a healthy growth but from a smaller base.

Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

Continued…

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List of Tables

Table1 Global Blockchain In Retail Market: By Country, 2019–2024

Table2 North America: Blockchain In Retail Market, By Country, 2019–2024

Table3 Europe Blockchain In Retail Market: By Country, 2019–2024

Continued…

List of Figures

Figure 1 Global Blockchain In Retail Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Blockchain In Retail Market

Continued…

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Global Blockchain in Supply Chain Market 2023 : Competition landscape, SWOT analysis and …

Global Blockchain in Supply Chain Market

A Blockchain is a distributed digital ledger. It records transactions in a series of blocks. It exists in multiple copies, spread over multiple computers, which are called anodes. The ledger is secure because every new block of transactions is linked again to previous blocks in such a way that tampering with it is practically impossible. As it is decentralized, it does not depend on any single entity (Eg:Bank) for safekeeping. The nodes connected to the Blockchain network get updated versions of the ledger as new transactions are carried out. According to Netscribes, the global Blockchain in supply chain market is expected to have a significant compounded annual growth rate of 87.0%, and reach a market size of USD 3,314.6 Mn by 2023. North America is expected to dominate the Blockchain in Supply Chain Market during the forecast period.

An increasing need for supply chain transparency and increasing demand for enhanced security of supply chain transactions are expected to drive the market during the forecast period. Supply chains across industries and countries will be reimagined, improved, and disrupted by Blockchain technology. Now, there are safer and more efficient ways to connect with business partners and also to track and exchange any type of asset. The ability to use Blockchain technology to create the next generation of digital supply chain networks and platforms will be central to the success of business.

Based on type of industry, the market is segmented into private, public and consortiums; based on the application of the industry, the market is categorized into contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control. Moreover based on the protocols of the industry it is divided into bitcoin, ethereum, ripple consensus network, hyperledger, R3’s corda, symbiont, distributed ledgers and others.

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The segmentation is also based on the types of industries involved and the market is categorized into banking, financial services and insurance (BFSI), telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others. Each and every segment is examined carefully by factoring in sales, revenue and market size, in order to understand the potential for growth and scope.

Key growth factors

Blockchain transactions have become more flexible and many manual tasks are carried out automatically using smart contracts. Some of the major factors which are driving the market growth are raising cryptocurrency market capital, initial coin offering (ICO) and faster transactions.

The technology ensures enhanced transparency for consumers in the supply chain. It allows the consumers to trace and give an assurance of origin in the trade.

Threats and key players

Although the Blockchain in Supply Chain Market is expected to have a positive growth globally, still, there are still a few threats to the market. The market constraints involves threat to personal information and high diagnostic cost as a barrier. Blockchain technology has often been compromised, resulting in the theft of millions of dollars’ worth of cryptocurrencies. The potential risk of hardware or software failure can be another risk in the supply chain. Lack of awareness about the Blockchain and higher cost of investments can restrain market growth during the forecast period.

The Blockchain market ecosystem comprises vendors, such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC, Ethereum Foundation, Guardtime, Internation Machine Business Corporation, IBM, Blockcypher, Inc., Microsoft, Primechain Technologies Pvt. Ltd, Skuchain, Romit and Provenance Ltd, among others.

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What’s covered in the report?

1. Overview of the global Blockchain in Supply Chain Market

2. Market drivers and challenges in the global Blockchain in Supply Chain Market

3. Market trends in the global Blockchain in Supply Chain Market

4. Historical, current and forecasted market size data for the global Blockchain in Supply Chain Market

5. Historical, current and forecasted market size data for the types of global Blockchain in Supply Chain Market (private, public and consortium)

6. Historical, current and forecasted market size data by application of industry in global Blockchain in Supply Chain Market (contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control)

7. Historical, current and forecasted market size data by protocol of industry in global Blockchain in Supply Chain Market (bitcoin, ethereum, ripple consensus network, hyperledger, R3’s corda, symbiont, distributed ledgers, and others)

8. Historical, current and forecasted market size data by industries involved in the global Blockchain in Supply Chain Market (Banking, Financial services and Insurance (BFSI),Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce, and others)

9. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for global Blockchain in Supply Chain Market

10. Analysis of the competitive landscape and profiles of major companies operating in the market

11. Key recent developments in the Blockchain in Supply Chain Market

Why buy?

1. Get a broad understanding of the global Blockchain in Supply Chain Market and its segmentation (by type of industry: private, public and consortium; by industry applications: contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control, by industry protocols: bitcoin, ethereum, ripple consensus network, hyperledger, R3’s corda, symbiont, distributed ledgers and others, by industries involved: Banking, Financial services and Insurance (BFSI), Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)

2. Get region-specific drivers and challenges affecting the global Blockchain in Supply Chain Market and its segmentation (by type of industry: private, public and consortium; by industry applications: contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control, by industry protocols: Bitcoin, Ethereum, Ripple Consensus Network, Hyperledger, R3’s Corda, Symbiont, Distributed ledgers and others, by industries involved: Banking, Financial services and Insurance (BFSI),Telecom and IT, healthcare and life sciences, manufacturing, retail, e-commerce and others)

3. Devise market-entry strategies by understanding the factors driving the growth of the market

4. Recognize major competitors’ business and market dynamics, and respond accordingly

5. Get stakeholder and technology analysis, relevant companies profiles and also start-ups’ profiles

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Companies Mentioned:

o Abra

o Bitfury Group

o Ethereum foundation

o IBM

o Skuchain

o Factom

o Monax

o Chainvine

o Guardtime

o Blockcypher, Inc.

Table of Contents

Chapter 1: Executive summary

1.1. Market scope and segmentation

1.2. Key questions answered in this study

1.3. Executive summary

Chapter 2: Global Blockchain in Supply Chain Market – market overview

2.1. Global market overview – market trends, market attractiveness analysis, geography-wise market revenue (USD)

2.2. Global – market drivers and challenges

2.3. Value chain analysis – Blockchain in Supply Chain Market

2.4. Porter’s Five Forces Analysis

2.5. Market segmentation on the basis of type (private, public and consortium)

2.5. a. Revenue from private Blockchain – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

2.5. b. Revenue from public Blockchain – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

2.5. c. Revenue from consortium Blockchain – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

2.6. Market segmentation on the basis of application (contract management, payment system, procurement, provenance, ownership transfer, asset tracking and inventory control)

2.6. a. Revenue from contract management – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

2.6. b. Revenue from payment system – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

2.6. c. Revenue from procurement – Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations

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Related:

US retailers buy into blockchain, but hurdles remain

Blockchain spend by the US retail sector increased 103.1 percent during 2018 to reach US$112.4 million, according to ResearchAndMarkets. From 2019 to 2025, meanwhile, it will rise from US$208 million to US$2.6 billion.

Supply chain management is one of the main areas of investment. Leading the way here is Walmart. Blockchain consortium Hyperledger recently published a case study detailing how the US giant is “leading unparalleled transparency in the food supply chain”.

It tested many approaches before turning its attention to blockchain. Two Proof of Concept (POC) projects, one in the US and one in China, solidified its commitment to the technology and Hyperledger Fabric. It is now leading industry-wide adoption with a coalition involving the likes of Nestle and Unilever. Check out the case study here.

Albertsons

Elsewhere, food and drug chain Albertsons Companies recently signed up with IBM’s Food Trust blockchain platform.

The retailer, which operates nearly 2,300 stores across the US, will pilot Food Trust for tracing bulk romaine lettuce from one of its distribution centres. It will then explore expanding to other food categories throughout its distribution network.

It is looking to overcome the obstacles that have existed when a traceback is initiated for a product like romaine and is evaluating ways to highlight the provenance of its Own Brands portfolio.

Since it launched in October 2018, Food Trust has grown to incorporate around 80 clients, with over five million food products now using blockchain technology as part of their delivery process.

You know it ain’t easy

This being a highly touted emerging technology, there’s an inevitable downside, however. Namely that blockchain enthusiasts often go overboard when pitching the benefits involved; ‘it will revolutionize the retail sector’, ‘it is the solution to all retailers’ woes’, etc. This is a space with more than its fair share of scam artists and hype merchants pushing dubious projects and initiatives.

It could be argued that, right now, blockchain is not top of mind for many retailers. Certainly, if you venture along to a UK retail technology conference in 2019, it will be a surprise if you find anyone talking about this space in a major way.

This is partly down to hype fatigue, but also due to the cost of creating and implementing blockchain networks; a significant barrier, particularly for SMEs. Then there’s the grey area that is regulation. And whilst blockchain’s transparency is one of its strengths, it is also a weakness for a data-centric sector like retail.

Bitcoin et al

On the payments front, Coinbase CEO, Brian Armstrong, is taking a cautious (read: realistic) approach. In a recent Ask Me Anything session on YouTube, he commented that regular transactions, e.g. paying for a cup of coffee at Starbucks, is the last area that will get disrupted by digital currencies such as Bitcoin.

It will initially be used more on the fringes and then slowly move mainstream. Crypto is gaining traction where there is a need to quickly send money around the world. And where people are unbanked or de-platformed – emerging markets, Venezuela and so on.

Bitcoin makes up most of the volume in the virtual currency market but only a small percentage of the global money supply. Nevertheless, the numbers are large enough for banks to take notice and investment is continuing at pace, Armstrong says.

We need more like-minded people pushing a visionary but pragmatic approach to blockchain and crypto because extravagant claims and rampant hype only get you so far and usually put more people off than they attract.

Related:

Bitcoin Will Hit $20K in 2018. Here’s Why Ethereum Is a Better Bet, Says Reddit Cofounder

While Bitcoin may be the poster child of cryptocurrencies, Reddit co-founder Alexis Ohanian thinks the second most valuable cryptocurrency by market capitalization, Ethereum, will be the real winner.

“I’m most bullish about Ethereum simply because people are actually building on it,” Ohanian told Fortune’s TermSheet Tuesday. Ohanian has stepped back from Reddit’s day-to-day operations and now invests in firms including Coinbase via his venture capital firm, Initialized Capital.

Because developers have found it challenging to create applications based on the Bitcoin blockchain, finding Ethereum more flexible, Ohanian says he sees the price of Ethereum rising faster than the price of Bitcoin this year.

His prediction: While the price of Bitcoin will more than double by the end of the year, regaining it’s all-time high of $20,000, Ethereum will reach 21 times its current value — hitting $15,000 by the end of 2018. Bitcoin now stands at about $9,100, while Ethereum is valued at about $690.

Developers have used Ethereum to create applications such as CryptoKitties, a blockchain-based game in which users breed virtual cats. Major firms including banking giant J.P. Morgan have also tested technology based on Ethereum.

Ethereum does have its competitors though, when it comes to developers seeking blockchains upon which to build their own applications.

Take, for example, Hyperledger, whose open-sourced blockchain framework Fabric underlies projects such as TrustChain, a blockchain project tracking diamonds. At the same time, firms such as Walmart have also used Hyperledger Fabric to test blockchain technology in tracking their food supply.

Related:

BTC USD Price Forecast December 4, 2017, Technical Analysis

Bitcoin rallied on Friday, after initially dipping down towards the $9400 level. By clearing the $10,000 level, and then more importantly clearing the previous high at the $10,600 level, we have a bullish sign. I think that the buyers will continue to come back into this market on pullbacks, and that $10,000 should be a bit of a supportive level going forward. Alternately, if we go to the $11,400 level, then I think the market breaks out to a fresh, new high. It would not surprise me at all to see that again, but at this point I think that we are starting to see a significant amount of fear enter the market as we have gotten extraordinarily overbought. It doesn’t matter your long-term outlook, the market should not go up in a straight line for any length of time.

I think that if we break down below the $10,000 level again, we should then go down to the $9000 level as well. If that happens, I think you will see a lot more fear enter the marketplace, and the selling will exacerbate the pullback. Currently, the Stochastic Oscillator is crossing over in the overbought area, and that suggests that perhaps we are going to struggle to go higher in the short term. These pullbacks should offer support at $10,000 and more importantly value, so keep that in mind. A breakdown below the $10,000 level as I said previously is a very negative sign, but I don’t think it’s going to happen unless or some type of massive event. Bitcoin has seen a lot of new money flowing into it over the last weekend, as Coinbase added over 300,000 new accounts. The problem with that is that typically new money is also scared money, so I have to wonder what most of those people are doing right now as they had seen their losses pile up over the last couple of sessions. I think we are going to continue to see a lot of volatility regardless of what happens. Keep your position size small, as the growth of fear in this market has made it extraordinarily volatile, even by Bitcoin standards.

Related:

Ethereum Price Forecast December 1, 2017, Technical Analysis

Ethereum fell again during the trading session on Thursday, reaching as low as $390. The $400 level offered a bit of support and the range as you can see has held the significantly. We have bounced $25 from there, but given enough time I think it’s only a matter of time before we roll over again. If we did break above the $460 level, then I think the market probably goes higher. It’s not until then that I am comfortable buying this market, because quite frankly Bitcoin looks as if it is still likely to find some selling pressure. In general, the markets will continue to look at lower levels, perhaps down to the $370 level underneath. That level is much more supportive, and could be a place where we form a bit of a base. I think that the psychological troubles of breaking above the $500 level could continue to be an issue for the market as this type of vicious selloff will have scared a lot of traders.

Adding more fuel to the fire is that Coinbase added 300,000 accounts over the last weekend, and this will have a broad a lot of fresh and nervous money into the marketplace. Imagine putting money into the market 3 days ago, to see it rally 10%, and then roll over another 20%. It doesn’t take much imagination to figure that a lot of that fresh money is extraordinarily angry right now, and probably fearful. In other words, selling. I think the damage of the last couple of days will be long reaching, and crypto currencies may have just blown a nice opportunity to pick up more faithful. However, this is the way of bubbles, and I think we are continuing to see signs of a bubble, but we are not at the top. And because of this it’s likely that we will find buying opportunities given enough time, but right now I think you are probably best served being on the sidelines as it is very dangerous to trade right now, especially if we are going to have some type of sizable position. It’s possible that the bearish traders out there just fired the first salvo.

ETH/USD Video 01.12.17

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