Pune, India, September 19, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global industry Blockchain in Retail Market Size was valued at $126.8 million in 2020 and is expected to grow from $172.2 million in 2021 to $2,082.8 million by 2028, exhibiting a CAGR of 42.8% during the period. forecast. The growing demand for the product from end users such as retail as well as the supply chain is expected to meet the demand for solutions in retail.
Key Industry Developments-
Crunchfish developed crunchcoins on an Ethereum blockchain. Crunchcoin aims to offer cryptocurrencies that can be used in physical retail.
Request a free PDF sample – https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/block-chain-in-retail-market-102092
Key points to remember-
- Blockchain retail market size in North America was $63.1 million in 2020
- Key driving factors include improved customer experience, cost savings and increased efficiency.
- The platforms/solutions segment holds the largest share of the global market.
- Global demand driven by increasing retail projects in developed countries
- Supply Chain Management to Drive Market During Forecast Period 2023-2028
Learn about the key players profiled in the report.
“IBM Corporation (New York, USA), Oracle Corporation (Texas, USA), Accenture Plc (Dublin, Ireland), Tata Consultancy Services (Maharashtra, India), Amazon Web Services, Inc. (Washington, USA) United States), Cisco Systems Inc. (California, United States), Auxesis Services and Technologies (P) Ltd. (Mumbai, India), Guardtime (Lausanne, Switzerland), Sofocle Technologies (Uttar Pradesh, India), Capgemini SE (France, Paris) »
Report Scope and Segmentation
| Report cover | Details |
| Forecast period | 2021 to 2028 |
| CAGR forecast period from 2021 to 2028 | 42.8% |
| Value projection 2028 | $2,082.8 million |
| Year of reference | 2020 |
| Blockchain in Retail Market Size in 2020 | $126.8 million |
| Historical data for | 2017 to 2019 |
| Number of pages | 160 |
| Segments covered | Component, type, application and geography |
Browse Complete Report Details – https://www.fortunebusinessinsights.com/block-chain-in-retail-market-102092
Drivers and restraints-
Amplified and refined transaction transparency to drive market growth.
Integrating blockchain technology into the retail industry offers many benefits such as secure, cost-effective and fast payment processing via encoded distributed ledgers. This technology allows real-time verification of transactions without the need for intermediaries such as banks or clearing houses. As digital payments continue to grow in the retail sector, there is a growing demand for distributed ledger technology. The adoption of blockchain technology in retail should improve efficiency, traceability, security and transparency.
Major segments covered in this report:
By component
- Platform/Solutions
- Services
By type
- Public blockchain
- Private Blockchain
- Consortium Blockchain
By application
- Supply Chain Management
- Food safety management
- Customer data management
- Identity management
- Compliance management
- Processing billing transactions
- Others
Regional overviews:
North America held the largest blockchain market share in terms of retail market share in 2020. The region has seen significant capitalization in blockchain in retail services and technology in order to preserve its position in the global market.
European businesses are massively adopting the notion of blockchain technology due to the fact that the region is expected to see a considerable growth rate.
The market growth in Asia Pacific is led by dominant countries such as India, China, South Korea, and Japan.
In Latin America, the Middle East and Africa, technology implementation is supported by the growing adoption of digital technologies as well as government programs.
Quick Buy – Blockchain in Retail Market – https://www.fortunebusinessinsights.com/checkout-page/102092
Competitive Landscape-
Procurement initiated by crucial companies to support market growth
The dominant market players are constantly looking for effective tactics to enhance their brand value and promote the growth of the global product market by facing the least imaginable obstacles. One such effective tactic is to recruit competitive companies and ensure more profits for both companies involved.
FAQs
How big is blockchain in the retail market?
The blockchain retail market size was $126.8 million in 2020. It is expected to reach $2,082.8 million by 2028.
How fast is blockchain in the retail market growing?
Blockchain in retail market will exhibit a CAGR of 42.8% during the forecast period, 2021-2028.
Related reports:
Blockchain in BFSI Market Size, Share, Revenue Forecast and Opportunities
Blockchain in the energy utility market Overview, Industry Share and Forecast
Blockchain as a Service Market Size, sharing, opportunities and analysis
About Us-
Fortune Business Insights™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions to our clients, helping them address their business-specific challenges. Our goal is to provide our clients with holistic market intelligence, giving them a detailed overview of the market in which they operate.
Contact us:
Fortune Business Insights™ Pvt. Ltd.
United States: +1 424 253 0390
United Kingdom: +44 2071 939123
Asia-Pacific: +91 744 740 1245
E-mail: [email protected]
-
Blockchain in the retail market
