Market Overview

Global Blockchain in the Supply Chain Market - Forecast to 2023: CAGR to Grow at 87% - ResearchAndMarkets.com

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The "Global
Blockchain in Supply Chain Market (2018-2023)"
report has been
added to ResearchAndMarkets.com's offering.

The global Blockchain in supply chain market is expected to have a
significant compounded annual growth rate of 87%, and reach a market
size of USD 3,314.6 million 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.

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.

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.

Companies Featured

  • Abra
  • Bitfury Group
  • Ethereum foundation
  • IBM
  • Skuchain
  • Factom
  • Monax
  • Chainvine
  • Guardtime
  • Blockcypher Inc.

For more information about this report visit https://www.researchandmarkets.com/research/d33nfk/global_blockchain?w=4

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