DUBLIN, February 2, 2023 /PRNewswire/ — “Blockchain in the retail market. Global Industry Trends, Shares, Size, Growth, Opportunities and Forecasts 2022-2027.” report added. ResearchAndMarkets.com suggestion.
Global blockchain has reached value in the retail market 233.5 million USD in 2021. Anticipating that the publisher expects the market to reach value 3,731.75 million USD by 2027, exhibiting a CAGR of 58.71% during 2021-2027.
Given the uncertainties of COVID-19, we are continuously monitoring and assessing the direct and indirect impact of the pandemic. These insights are included in the report as key contributors to the market.
Retail blockchain refers to a disruptive technology based on cryptography to record digital transactions in the retail industry’s distributed ledger.
It’s a cost-effective solution because it automates transactions and application interoperability and eliminates the need for administration. It helps businesses track products into the supply chain, identify suppliers, manufacturers, and consignors to resolve supply chain issues.
It enables Decentralized Identity (DID), which helps retailers verify user identity and data when needed. In addition, it streamlines administrative processes in retailers’ back offices, thereby allowing employees to focus more on value-added work.
Blockchain trends in the retail market.
Growing demand for transparent transactions in the retail industry to build trust between suppliers, companies and customers is one of the key factors driving the market.
Furthermore, there is a growing adoption of blockchain-based solutions by retailers to ensure quality, reliability, authenticity and product safety. This, along with technological advancements and increasing international trade in the retail sector, is fueling market growth.
In addition, blockchain offers enhanced cryptographic security for its databases and transactions, helping to reduce fraud and improve retail stability. This, coupled with the growing use of blockchain in digital payments, online shopping and retail for risk and compliance, is positively impacting the market.
Additionally, the growing adoption of blockchain in retail to monitor supply chain transactions for easy product traceability offers lucrative growth opportunities to industry players. Additionally, growing demand for smart contracts to save companies time and cost and eliminate merchants who charge extra for transaction authentication is driving the market growth.
Key questions answered in this report:
How is global blockchain performing in the retail market so far and what will it look like in the coming years?
What is the impact of COVID-19 on the global retail market blockchain?
What are the main regional markets?
What is the market breakdown on the basis of component?
What is the market breakdown by type?
What is the market breakdown based on organization size?
What is market breakdown based on bid?
What are the different stages of an industry’s value chain?
What are the key industry drivers and challenges?
What is the structure of the global blockchain in retail market and who are the key players?
What is the degree of competition in the industry?
The main topics covered are:
2 Scope and methodology
2.1 Objectives of the study
2.2 Interested parties
2.3 Data Sources
2.3.1 Primary sources
2.3.2 Secondary sources
2.4 Market Valuation
2.4.1 Bottom-up approach
2.4.2 Top-down approach
2.5 Forecasting methodology
3 Executive summary
4.2 Key Industry Trends
5 Global Blockchain in Retail Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Segmentation by Component
6.1.1 Market Trends
6.1.2 Market Forecast
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Segmentation by Type
7.1 Public Blockchain
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Private Blockchain
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Consortium Blockchain
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market segmentation by organization size
8.1 Large Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Small and Medium Enterprises (SMEs)
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Segmentation by Application
9.1 Supply Chain Management
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Food Safety Management
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Management of Customer Data
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Identity Management
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Compliance Management
9.5.1 Market Trends
9.5.2 Market Forecast
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market breakdown by region
11 SWOT analysis
12 Value chain analysis
13 Porters Five Forces Analysis
14 Price analysis
15 Competitive landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information on this report, visit https://www.researchandmarkets.com/r/xglb75-in?w=5
Media contact. Laura Wood |: +353-1-481-1716 |: [email protected]
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SOURCE Research and Markets