Blockchain Market In Supply Chain - Forecast(2020 - 2025)
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