Market Trends

Blockchain Market in Supply Chain Overview The  Blockchain Market  in Supply Chain is forecast  to reach $524m  by 2024 and is estimated to  grow at a CAGR of 50%  during the forecast period 2019-2024. The market growth is fuelled by surging applications of the technology in procurement and sourcing management that improve the efficiency of the  supply chain . Blockchain Market in Supply Chain Report Coverage The report:  “Blockchain Market in Supply Chain – Forecast (2019-2025)”,  by IndustryARC covers an in-depth analysis of the following segments of the Blockchain Market in Supply Chain.  By Type:  Public Blockchain, Private Blockchain, Consortium Blockchain, Hybrid Blockchain. By Application:  Contract Management, Payment Systems, Provenance, Procurement, Ownership Transfer, Asset Tracking, and Inventory Control. By End User Industry:  Marketing and Advertising, Drugs and Healthcare, Logistics, Commerce and Retail, Oth...

Blockchain Market in Supply Chain Overview: Despite heavy investment in supply chain management, organizations fail to deliver the best services because of the exuded complexity and mere lack of transparency with the customers. Traversing to the last decade; according to the National Institute of Standards and Technology (NIST), the inadequacies in the supply chain infrastructure translated to $5 billion annual loss in the automotive industry and $3.9 billion in the electronics industry [1] . It has been more than a decade, but organizations are still struggling to control their supply chain management process which is leading to irrevocable losses. However, this challenge is lead to a gamut of opportunities for blockchain market in supply chain which had a market size of $70 million to $75 million as of 2018 according to the market analyst of IndustryARC. Furthermore, the analyst estimates that the demand for the implementation of blockchain in the supply chain sector will increase wi...