This press release was originally distributed by SBWire
Albany, NY – (SBWIRE) – 01/08/2019 – A Blockchain is a distributed digital ledger. Records transactions in a series of blocks. It exists in multiple copies, distributed on multiple computers, which are called anodes. The ledger is safe because each new block of transactions is connected back to the previous blocks in such a way as to tamper with it virtually impossible. Being decentralized, it does not depend on any single entity (for example: Bank) for custody. Nodes connected to the Blockchain network get updated versions of the ledger when new transactions are executed. According to Netscribes, the global blockchain in the supply chain market should have a compound annual compound growth rate of 87.0% and reach a market size of USD 3.346.6 million by 2023. North America should dominate the Blockchain in the supply chain market during the forecast period.
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The growing need for supply chain transparency and the increased demand for greater security of supply chain transactions is expected to determine the market during the forecast period. Supply chains between industries and countries will be reinvented, improved and interrupted by Blockchain technology. Now, there are safer and more efficient ways to connect with business partners and also to track and exchange any kind of resource. The ability to use Blockchain technology to create the next generation of digital supply chain networks and platforms will be critical to business success.
Depending on the type of industry, the market is segmented in private, public and consortia; based on the application of the sector, the market is divided into contract management, payment system, procurement, sourcing, transfer of ownership, asset monitoring and inventory control. Furthermore, based on industry protocols, it is divided into bitcoin, ethereum, ripple consensus network, hyperledger, R3s chord, symbiont, distributed master books and others.
The segmentation is also based on the types of industries involved and the market is classified in banking, financial and insurance services (BFSI), telecommunications and IT, health and life sciences, production, retail, e-commerce and others. Each individual segment is carefully examined taking into account sales, revenue and market size, in order to understand the potential for growth and scope.
Key factors for growth
Blockchain transactions have become more flexible and many manual tasks are performed automatically using smart contracts. Some of the main factors driving market growth are increasing the market capital of cryptocurrency, the initial supply of coins (ICO) and faster transactions.
Technology ensures greater transparency for consumers in the supply chain. It allows consumers to trace and give a guarantee of origin in the trade.
Threats and key players
Although the Blockchain in the supply chain market is expected to have positive global growth, there are still some threats to the market. Market constraints involve threats to personal information and high diagnostic costs as a barrier. Blockchain technology has often been compromised, causing the theft of millions of dollars in cryptocurrencies. The potential risk of hardware or software failures may be another risk in the supply chain. The lack of awareness on the Blockchain and the higher cost of investments can curb market growth during the forecast period.
The Blockchain market ecosystem includes vendors such as Abra, AlphaPoin, Bitfury Group Limited, Bloq, BTL Group Ltd, Coinbase, Digital Asset Holding LLC, Ethereum Foundation, Guardtime, International Machine Business Corporation, IBM, Blockcypher, Inc., Microsoft , Primechain Technologies Pvt. Ltd, Skuchain, Romit and Provenance Ltd, among others.
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What is covered in the relationship?
1. Overview of the global Blockchain in the supply chain market
2. Market factors and challenges in the global blockchain in the supply chain market
3. Market trends in the global blockchain in the supply chain market
4. Historical, current and forecasted data of the market size for global blockchain in the supply chain market
5. Historical, current and forecasted data of the market size for the types of global Blockchain in the supply chain market (private, public and consortium)
6. Historical, current and forecasted data on the size of the market for application of industry in the global Blockchain in the supply chain market (contract management, payment system, procurement, sourcing, transfer of ownership, asset control and control dell & # 39; inventory)
7. Historical, current and forecast data of the market size according to the protocol of industry in the global Blockchain in the supply chain market (bitcoin, ethereum, ripple consensus network, hyperledger, R3s rope, symbiont, distributed master books and others)
8. Historical, current and forecast data of the market size by the industries involved in the global Blockchain in the supply chain market (banking, financial and insurance services (BFSI), telecommunications and IT, health and life sciences, production, sales to the detail, e-commerce and others)
9. Historical, current and forecast regional data (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) for the global Blockchain in the supply chain market
10. Analysis of the competitive landscape and the profiles of the main companies operating in the market
11. Main recent developments in the Blockchain in the supply chain market
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