DUBLIN–(BUSINESS WIRE)–The “Blockchain in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” report has been added ResearchAndMarkets.com’s Offering.
The global blockchain in retail market reached a value of USD 233.5 million in 2021. Looking ahead, the publisher expects the market to reach a value of USD 3,731.75 million by 2027, showing a CAGR of 58.71% during 2021 -2027.
Companies mentioned
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Amazon Web Services Inc. (Amazon.com Inc.)
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Auxesis Services & Technologies (P) Ltd
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Acknowledging
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Infosys Limited
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International Business Machines Corporation
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Oracle Corporation
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Respond
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SAP SE
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Sophocle Technologies Pvt. Ltd.
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Tata Consultancy Services Limited (Tata Group).
Given the uncertainty surrounding COVID-19, we continuously track and evaluate the direct as well as the indirect impact of the pandemic. This insight is included in the report as a major market contributor.
Blockchain in retail refers to a disruptive technology that relies on cryptography to record digital transactions on a distributed ledger in retail. It is a cost-effective solution as it automates the transactions and interoperability of applications and eliminates the need for administration.
It helps companies trace the product back to the supply chain, identify suppliers, manufacturers and batches to solve supply chain problems. It enables decentralized identity (DID), which helps retailers verify user identity and data when needed. In addition, it streamlines administrative processes in the back offices of retailers, thus allowing employees to focus more on value-added work.
The growing demand for transparent transactions in retail to build trust between suppliers, companies and customers represents one of the key factors driving the market. Also, there is an increase in investment by retailers in blockchain-based solutions to ensure quality, reliability, authenticity and product safety. This, along with increasing technological advancements and international trade in the retail sector, is driving the growth of the market.
In addition, blockchain offers enhanced cryptographic security for its databases and transactions that aid in fraud reduction and merchant sustainability. This, combined with the growing use of blockchain in retail for digital payments, online shopping and risk and compliance, is positively impacting the market.
In addition to this, the growing employment of blockchain in retail to monitor supply chain transactions for easy traceability of goods offers lucrative growth opportunities for industry players. In addition, the escalating demand for smart contracts to save time and cost for companies and remove merchants who charge extra to authenticate a transaction is fueling market growth.
Important questions answered in this report:
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How has the global blockchain in the retail market performed so far, and how will it perform in the coming years?
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What has been the impact of COVID-19 on the global blockchain in retail market?
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What are the most important regional markets?
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What is the division of the market based on the component?
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What is the breakdown of the market based on type?
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What is the division of the market based on the size of the organization?
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What is the market segmentation based on application?
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What are the different stages in the value chain of the industry?
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What are the most important driving factors and challenges in the industry?
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What is the structure of the global blockchain in retail market and who are the key players?
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What is the degree of competition in the industry?
Key topics covered:
1 Preface
2 Scope and methodology
3 Summary
4 Introduction
4.1 Overview
4.2 Important industry trends
5 Global blockchain in the retail market
5.1 Market overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market forecast
6 Market division by component
7 Market division by type
8 Market division by organization size
9 Market division by application
10 Market distribution by region
11 SWOT analysis
12 Value chain analysis
13 Porter’s Five Forces Analysis
14 Price analysis
15 Competitive landscape
15.1 Market structure
15.2 Key Players
15.3 Profiles of Key Players
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