The global blockchain in retail market is projected to reach a substantially large market size of USD 60.97 Billion by 2028 and register a significantly rapid revenue growth rate over the forecast period, according to latest analysis by Emergen Research. The growing demand for blockchain in retail can be attributed to increasing demand for improving retail supply chain efficiency. Blockchain technology is considered to be of immense significance in transforming omnichannel supply chains in the retail industry. Blockchain helps in maintenance and management of chain-of-custody information, supply chain data, and autonomous transactions, and thereby assists retailers in building customer trust by bringing transparency in the movement of products. Also, implementation of blockchain in retail supply chain provides retailers better insights into the supply chain process – from beginning to end – and in turn, enables retailers to provide precise information to the end-user.
The researchers have considered all the factors influencing the growth of the Blockchain in Retail market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Blockchain in Retail market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Blockchain in Retail market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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Key Highlights of Report
- In October 2020, Coinbase made an announcement about the introduction of Crypto Debit Card in the US (except Hawaii) for retail spending.
- Application provider segment revenue is expected to grow at the fastest rate over the forecast period. Some major advantages offered by blockchain application providers include reduced IT capital expenditure, easier blockchain application maintenance, and improved collaboration.
- Identity management segment is estimated to account for a substantially large market size in 2020. Blockchain in retail helps to protect the identity of customers from breaches and theft. Blockchain allows individuals to make a self-sovereign identity (SSI), eliminating need to create several usernames and passwords, and allows customers to manage digital identity independently.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Blockchain in Retail market.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Blockchain in Retail industry are:
Amazon Web Services, IBM Corporation, Auxesis Group, SAP SE, Coinbase, Microsoft Corporation, Oracle, Blockpoint, Cegeka, and BTL Group.
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Emergen Research has segmented the blockchain in retail market in terms of provider, application, size of organization, and region:
- Provider Outlook (Revenue, USD Million; 2018–2028)
- Application Provider
- Middleware Provider
- Infrastructure Provider
- Application Outlook (Revenue, USD Million; 2018–2028)
- Identity Management
- Compliance Management
- Payments Smart Contracts
- Loyalty and Rewards Management
- Supply Chain Management
- Size of Organization Outlook (Revenue, USD Million; 2018–2028)
- Small Medium-sized Enterprises
- Large Enterprises
The Global Blockchain in Retail Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Blockchain in Retail market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Blockchain in Retail Market added by Emergen Research demonstrates that the global Blockchain in Retail market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Blockchain in Retail market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Blockchain in Retail Market Report:
- The report encompasses Blockchain in Retail market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Blockchain in Retail industry
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