Blockchain Retail Market Trends and Forecast
The future of the global blockchain retail looks promising with opportunities in the large enterprise and medium & small enterprise markets. The global blockchain retail is expected to reach an estimated $1.8 billion by 2030 with a CAGR of 27.6% from 2024 to 2030. The major drivers for this market are increased demand for transparent and secure supply chain management solutions and growing adoption of cryptocurrencies for retail transactions.
• Lucintel forecasts that application supply is expected to witness the highest growth over the forecast period.
• Within this market, large enterprise is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: Walmart: Walmart announced its partnership with IBM and other suppliers to implement blockchain technology in its supply chain. The initiative aims to enhance transparency and traceability of food products, ensuring quality and safety for consumers.Government: The US government has expressed interest in exploring blockchain technology for various applications, including retail. Initiatives such as funding research projects and forming regulatory frameworks are underway to promote blockchain adoption in the retail sector.
India: Reliance Retail: Reliance Retail, one of IndiaÄX%$%Xs largest retail chains, announced plans to leverage blockchain technology for inventory management and supply chain optimization. The company aims to improve efficiency and reduce costs across its vast network of stores.Government: The Indian government has initiated pilot projects to explore the use of blockchain in various sectors, including retail. Efforts are underway to develop a national blockchain strategy and regulatory framework to support blockchain adoption.
China: Alibaba: AlibabaÄX%$%Xs subsidiary, Tmall, announced the launch of a blockchain-powered cross-border supply chain platform. The platform aims to streamline the import and export processes for merchants, improving efficiency and reducing costs.Government: The Chinese government has expressed support for blockchain technology and its potential applications in various industries, including retail. Initiatives such as blockchain pilot projects and funding for blockchain startups are part of the governmentÄX%$%Xs efforts to promote blockchain innovation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Blockchain Retail by Segment
The study includes a forecast for the global blockchain retail by type, application, and region.
Blockchain Retail by Type [Shipment Analysis by Value from 2018 to 2030]:
• Application Supply
• Middleware Supply
• Infrastructure Supply
Blockchain Retail by Application [Shipment Analysis by Value from 2018 to 2030]:
• Large Enterprise
• Medium & Small Enterprise
• Others
Blockchain Retail by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Blockchain Retail Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies blockchain retail companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the blockchain retail companies profiled in this report include-
• IBM Corporation
• Auxesis
• SAP SE
• Coinbase
• Microsoft Corporation
• Oracle
• Blockpoint
Recent Development in the Blockchain Retail
Walmart: Walmart has been actively exploring blockchain technology to improve its supply chain operations. The company partnered with IBM to develop a blockchain-based system for tracking food products from farm to shelf. This initiative aims to enhance transparency and traceability in the supply chain, allowing Walmart to quickly identify and address issues such as food contamination or spoilage. By leveraging blockchain, Walmart can ensure the authenticity and quality of its products while reducing costs and improving efficiency.
Alibaba: AlibabaÄX%$%Xs subsidiary, Tmall, launched a blockchain-powered cross-border supply chain platform. This platform enables merchants to streamline import and export processes, reducing paperwork and improving efficiency. By utilizing blockchain technology, Alibaba aims to enhance trust and transparency in cross-border transactions, making it easier for merchants to trade internationally. The platform also provides real-time tracking of goods, enabling merchants to monitor shipments and ensure timely delivery to customers.
Amazon: While Amazon has not made significant public announcements regarding blockchain initiatives in retail, the company is known for its interest in blockchain technology. Amazon Web Services (AWS) offers blockchain solutions for businesses, including tools for building and managing blockchain networks. While the specific applications of blockchain in AmazonÄX%$%Xs retail operations may not be publicly disclosed, it is likely that the company is exploring opportunities to leverage blockchain for supply chain management, product authentication, or customer data management.
Carrefour: Carrefour, a global retail chain, has implemented blockchain technology in its supply chain to track and trace the origin of certain products. The company partnered with IBM to develop a blockchain-based system for tracking the supply chain of chicken products in its stores. By scanning a QR code on the product packaging, customers can access information about the productÄX%$%Xs journey from farm to store, including details about the farm, processing facility, and transportation. This initiative enhances transparency and allows customers to make more informed purchasing decisions.
Features of the Global Blockchain Retail
Market Size Estimates: Blockchain retail size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Blockchain retail size by type, application, and region in terms of value ($B).
Regional Analysis: Blockchain retail breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the blockchain retail.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the blockchain retail.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the blockchain retail size?
Answer: The global blockchain retail is expected to reach an estimated $1.8 billion by 2030.
Q2. What is the growth forecast for blockchain retail?
Answer: The global blockchain retail is expected to grow with a CAGR of 27.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the blockchain retail?
Answer: The major drivers for this market are increased demand for transparent and secure supply chain management solutions and growing adoption of cryptocurrencies for retail transactions.
Q4. What are the major segments for blockchain retail?
Answer: The future of the blockchain retail looks promising with opportunities in the large enterprise and medium & small enterprise markets.
Q5. Who are the key blockchain retail companies?
Answer: Some of the key blockchain retail companies are as follows:
• IBM Corporation
• Auxesis
• SAP SE
• Coinbase
• Microsoft Corporation
• Oracle
• Blockpoint
Q6. Which blockchain retail segment will be the largest in future?
Answer: Lucintel forecasts that application supply is expected to witness the highest growth over the forecast period.
Q7. In blockchain retail, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the blockchain retail by type (application supply, middleware supply, and infrastructure supply), application (large enterprise, medium & small enterprise, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Blockchain Retail Market Market, Blockchain Retail Market Market Size, Blockchain Retail Market Market Growth, Blockchain Retail Market Market Analysis, Blockchain Retail Market Market Report, Blockchain Retail Market Market Share, Blockchain Retail Market Market Trends, Blockchain Retail Market Market Forecast, Blockchain Retail Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.