Blockchain Supply Chain Market Research Report Highlights Key Market Trends and Drivers | Growth of 80.2%

Blockchain Supply Chain Market Forecast

Need for increased transparency and traceability in supply chain operations is one of the main factors driving the growth of the blockchain supply chain market.

PORTLAND, PORTLAND, OR, USA, May 10, 2023 /EINPresswire.com/ — The global blockchain supply chain market was valued at $93.16 million in 2017 and is expected to be worth $9,852.91 million by 2025, with an increase of 80.2% CAGR 2018 to 2025.

Some of the factors estimated to drive the growth of the blockchain supply chain include an increase in the demand for transparency in the supply chain, the proliferation of the e-commerce industry, and an increase in the demand for increased security for supply chain transactions. By eliminating intermediaries with secure digital records, blockchain technology decentralizes transaction management.

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The blockchain supply chain market is driven by several key factors. One of the main drivers is the need for increased transparency and traceability in supply chain operations. Blockchain technology enables all parties involved in a supply chain to have access to a shared ledger that records every transaction and movement of goods. This creates a tamper-proof and controllable overview of every step in the supply chain, from the origin of raw materials to the delivery of finished products. This level of transparency and traceability is particularly important in industries such as food and pharmaceuticals, where safety and compliance are essential.

Another driver of the blockchain supply chain market is the growing demand for more efficient and cost-effective supply chain operations. Blockchain technology can help streamline supply chain processes, reduce paperwork and eliminate intermediaries, resulting in faster, cheaper and more efficient supply chains. By automating many of the manual processes involved in supply chain management, blockchain can help reduce errors, improve data accuracy and enable real-time tracking of goods and materials. As a result, many organizations are investing in blockchain supply chain solutions to improve their operational efficiency and gain a competitive edge in the market.

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The blockchain supply chain market is constantly evolving, with new trends shaping the future of the industry. One of the most important trends is the integration of blockchain with other new technologies, such as IoT and AI, to create more advanced and intelligent supply chain solutions. By combining blockchain with IoT sensors and devices, for example, organizations can create a real-time end-to-end view of the supply chain, from the factory floor to the customer’s doorstep. Similarly, by using AI to analyze data from the blockchain, organizations can gain valuable insights into the performance chain, identify areas for optimization and predict potential disruptions before they occur.

Another trend in the blockchain supply chain market is the growing focus on sustainability and ethical sourcing. With consumers becoming more environmentally and socially conscious, organizations are under increasing pressure to demonstrate that their supply chains are sustainable and ethical. Blockchain technology can help create a transparent and auditable record of each step in the supply chain, allowing organizations to trace the origin of raw materials, verify certifications and compliance, and ensure that suppliers meet ethical and sustainable standards. As a result, we can expect to see more organizations investing in blockchain supply chain solutions that enable them to demonstrate their commitment to sustainability and ethical sourcing.

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Many companies are expected to enter the market in the near future with the expected lucrative growth in the market. Some of the key market players profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, AWS Inc. Huawei Accenture Plc., Auxesis Group, TIBCO Software, and BTL Group. The study also includes blockchain supply chain market trends, analysis and future estimations to determine the upcoming investment pockets.

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Finally, this report provides market intelligence most comprehensively. The report structure has been kept so that it provides maximum business value. It provides critical insight into market dynamics and will enable strategic decisions for existing market players as well as those willing to enter the market.

David Correa
Allied Analytics LLP
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