{"product_id":"blockchain-in-retail-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","title":"Blockchain in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028","description":"\u003cp\u003eBlockchain in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028\u003cbr\u003e\nMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eThe global blockchain in retail market size reached US$ 370.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,681.7 Million by 2028, exhibiting a growth rate (CAGR) of 54% during 2023-2028.\u003c\/p\u003e\n\n\u003cp\u003eBlockchain in retail refers to a disruptive technology that relies on cryptography to record digital transactions on a distributed ledger in the retail industry. It is a cost-effective solution as it automates the transactions and the interoperability of applications and eliminates the need for administration. It assists businesses in tracking the product back to the supply chain, identifying suppliers, manufacturers, and batches to solve supply chain issues. It enables decentralized identity (DID), which helps retailers verify user identity and data when required. In addition, it streamlines administrative processes in the back offices of retailers, thereby allowing employees to focus more on value-added work.\u003c\/p\u003e\n\n\u003cp\u003eBlockchain in Retail Market Trends:\u003c\/p\u003e\n\n\u003cp\u003eThe growing demand for transparent transactions in the retail industry to build trust between suppliers, companies, and customers represents one of the key factors driving the market. Moreover, there is a rise in investments by retailers in blockchain-based solutions to ensure quality, reliability, authenticity, and product safety. This, along with increasing technological advancements and international trade in the retail sector, is propelling the growth of the market. In addition, blockchain offers enhanced cryptographic security for its databases and transactions that help in fraud reduction and sustainability of retailers. This, coupled with the increasing utilization of blockchain in retail for digital payment, online shopping, and risk and compliance, is positively influencing the market. Besides this, the rising employment of blockchain in retail to monitor supply chain transactions for easy traceability of goods is offering lucrative growth opportunities to industry players. Additionally, the escalating demand for smart contracts to save time and cost of companies and remove merchants who charge extra for authenticating a transaction is bolstering the market growth.\u003c\/p\u003e\n\n\u003cp\u003eKey Market Segmentation:\u003c\/p\u003e\n\n\u003cp\u003eIMARC Group provides an analysis of the key trends in each sub-segment of the global blockchain in retail market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, organization size and application.\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Component:\u003c\/p\u003e\n\n\u003cp\u003ePlatform\/Solutions\u003cbr\u003e\nServices\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Type:\u003c\/p\u003e\n\n\u003cp\u003ePublic Blockchain\u003cbr\u003e\nPrivate Blockchain\u003cbr\u003e\nConsortium Blockchain\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Organization Size:\u003c\/p\u003e\n\n\u003cp\u003eLarge Enterprises\u003cbr\u003e\nSmall and Medium-sized Enterprises (SMEs)\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Application:\u003c\/p\u003e\n\n\u003cp\u003eSupply Chain Management\u003cbr\u003e\nFood Safety Management\u003cbr\u003e\nCustomer Data Management\u003cbr\u003e\nIdentity Management\u003cbr\u003e\nCompliance Management\u003cbr\u003e\nOthers\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Region:\u003c\/p\u003e\n\n\u003cp\u003eNorth America\u003c\/p\u003e\n\n \u003cp\u003eUnited States\u003cbr\u003e\n Canada\u003c\/p\u003e\n\n\u003cp\u003eAsia-Pacific\u003c\/p\u003e\n\n \u003cp\u003eChina\u003cbr\u003e\n Japan\u003cbr\u003e\n India\u003cbr\u003e\n South Korea\u003cbr\u003e\n Australia\u003cbr\u003e\n Indonesia\u003cbr\u003e\n Others\u003c\/p\u003e\n\n\u003cp\u003eEurope\u003c\/p\u003e\n\n \u003cp\u003eGermany\u003cbr\u003e\n France\u003cbr\u003e\n United Kingdom\u003cbr\u003e\n Italy\u003cbr\u003e\n Spain\u003cbr\u003e\n Russia\u003cbr\u003e\n Others\u003c\/p\u003e\n\n\u003cp\u003eLatin America\u003c\/p\u003e\n\n \u003cp\u003eBrazil\u003cbr\u003e\n Mexico\u003cbr\u003e\n Others\u003c\/p\u003e\n\n\u003cp\u003eMiddle East and Africa\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape:\u003c\/p\u003e\n\n\u003cp\u003eThe competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Auxesis Services \u0026amp; Technologies (P) Ltd, Cognizant, Infosys Limited, International Business Machines Corporation, Oracle Corporation, Reply, SAP SE, Sofocle Technologies Pvt. Ltd. and Tata Consultancy Services Limited (Tata Group).\u003c\/p\u003e\n\n\u003cp\u003eKey Questions Answered in This Report:\u003c\/p\u003e\n\n\u003cp\u003eHow has the global blockchain in retail market performed so far and how will it perform in the coming years?\u003cbr\u003e\nWhat has been the impact of COVID-19 on the global blockchain in retail market?\u003cbr\u003e\nWhat are the key regional markets?\u003cbr\u003e\nWhat is the breakup of the market based on the component?\u003cbr\u003e\nWhat is the breakup of the market based on the type?\u003cbr\u003e\nWhat is the breakup of the market based on the organization size?\u003cbr\u003e\nWhat is the breakup of the market based on the application?\u003cbr\u003e\nWhat are the various stages in the value chain of the industry?\u003cbr\u003e\nWhat are the key driving factors and challenges in the industry?\u003cbr\u003e\nWhat is the structure of the global blockchain in retail market and who are the key players?\u003cbr\u003e\nWhat is the degree of competition in the industry?\u003c\/p\u003e","brand":"Service Industries","offers":[{"title":"May, 2023 \/ 144 Pages \/ MCW16275972","offer_id":47709780640050,"sku":null,"price":2999.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/blockchain-in-retail-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}