Blockchain in Retail Market

Blockchain in Retail Market by Provider, Application (Compliance Management, Identity Management, Loyalty & Rewards Management, Payment, Smart Contracts, and Supply Chain Management), Organization Size, and Region - Global Forecast to 2023

Report Code: TC 6407 Jun, 2018, by marketsandmarkets.com

[125 Pages Report] The global blockchain in retail market size was valued at USD 44.2 million in 2017 and is projected to reach USD 2,339.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 96.4% during the forecast period. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023.

The objective of the report is to define, describe, and forecast the blockchain in retail market by provider, application, organization size and region. The report analyzes the opportunities in the market for stakeholders by identifying the high-growth segments of the market. It profiles the key players of the market and comprehensively analyzes their core competencies, such as new product launches, partnerships, agreements, and collaborations. The report also covers detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.

The research methodology used to estimate and forecast the blockchain in retail market begins with capturing data from various industry associations and consortiums, such as Enterprise Ethereum Alliance (EEA), Hyperledger Consortium, Blockchain Collaborative Consortium (BCCC), and R3CEV Blockchain Consortium; and other sources, including company financials, journals, press releases, paid databases, and annual reports. The bottom-up procedure was employed to arrive at the overall market size from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, executives, and blockchain specialists. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the following figure:

Blockchain in Retail Market

To know about the assumptions considered for the study, download the pdf brochure

The blockchain in retail market comprises major service providers, such as, IBM (US), SAP (Germany), Microsoft (US), Oracle (US), AWS (US), Bitfury (the Netherlands), Auxesis Group (India), Cegeka (the Netherlands), BTL (Canada), Guardtime (Estonia), CoinBase (US), loyyal (US), Sofocle (India), BigchainDB (Germany), RecordsKeeper (Spain), BitPay (US), Abra (US), Reply (Italy), Provenance (UK), ModulTrade (UK), Blockverify (UK), OGYDocs (Israel), Warranteer (Israel) and Blockchain Foundary (Singapore). The stakeholders include retail companies, blockchain technology vendors, independent software vendors, consulting firms, system integrators, Value-added Resellers (VARs), and Information Technology (IT) agencies.

Target audience of the blockchain in retail market

  • Regulatory bodies
  • Blockchain technology solution vendors
  • Independent Software Vendors (ISVs)
  • Consulting firms
  • VARs

“The study answers several questions for the stakeholders; primarily, which market segments to focus on in the next 2 to 5 years for prioritizing their efforts and investments.”

Scope of the Report

The research report segments the blockchain in retail market into the following submarkets:

Provider

  • Application Providers
  • Middleware Providers
  • Infrastructure Providers

Application

  • Compliance Management
  • Identity Management
  • Loyalty and Rewards Management
  • Payments
  • Smart Contracts
  • Supply Chain Management
  • Others (Anti-Counterfeiting, Advertising, and Consumer Data Management)

Organization Size

  • SMEs
  • Large Enterprises

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American blockchain in retail market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

Detailed analysis was performed to get detailed information regarding the competitors in the blockchain in retail market by their solution offerings and business strategies. The report reviews the major players offering blockchain technology solutions and services. In addition, the report will outline the findings and analysis on how well each blockchain technology solution provider performs within the MarketsandMarkets criteria.

The blockchain in retail market is expected to grow from USD 80.0 million in 2018 to USD 2,339.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 96.4% during the forecast period. The major drivers of the market include the growing interest in the adoption of blockchain technology in retail and supply chain management industry, and increasing need efficiency and speed in retail and supply chain transaction. Additionally, rapidly transforming international trade and retail industry scenario backed by increasing venture funding and investments towards the blockchain technology providers has further proliferated the growth prospects for the market.

The blockchain in retail market study aims at estimating the market size and future growth potential of the market across segments, such as provider, application, and region. The application segment includes compliance management, identity management, loyalty and rewards management, payments, smart contracts, supply chain management, and others (anti-counterfeiting, advertising, and consumer data management). The supply chain management segment is expected to dominate the application segment in terms of contribution to the overall market, as various multinational retail and supply chain management corporations are deploying blockchain technologies across various business processes to bring reduction in costs of verification, execution, arbitration, and fraud prevention.

The blockchain in retail market has been segmented on the basis of providers into 3 categories: application providers, middleware providers, and infrastructure providers. These providers offer infrastructure to develop the blockchain-based platforms. Among these types, application providers is the fastest growing segment in the overall market. The introduction of technologically advanced blockchain solutions has witnessed certain level of adoption in retail and supply chain management corporations thereby fueling the overall market growth.

Blockchain in Retail Market

In terms of geographic coverage, the blockchain in retail market has been segmented into 5 regions, namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is estimated to account for the largest share of the overall market in 2018. North America is considered as the most advanced region with regard to technology adoption and infrastructure. The wide presence of key industry players of blockchain technology solutions in this region is the main driving factor responsible for the growth of the blockchain in retail market. Major multinational retailers such as Walmart and supply chain management/logistics companies UPS and FedEx in this region are adopting the blockchain technology. Europe is expected gain pace in terms of adoption in the coming years, as companies across different business processes are increasingly adopting the blockchain technology. Furthermore, APAC is expected to record the highest growth rate during the forecast period, due to the increasing funding-backed startup activities in the blockchain technology aimed at transforming the retail industry scenario.

The key financial and retailing hubs, and massive shipping and trading markets, including Hong Kong and Singapore, provide huge growth opportunities for the adoption of the blockchain in the retail and supply chain management sector in APAC. However, lack of awareness and technical understanding about blockchain technology could restrain the blockchain in retail market growth across regions.

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Table of Contents

1 Introduction (Page No. - 13)
    1.1 Introduction
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Limitations

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Market Opportunities in the Blockchain in Retail Market
    4.2 Blockchain in Retail Market, By Provider
    4.3 Blockchain in Retail Market, By Application
    4.4 Blockchain in Retail Market, By Region

5 Market Overview and Industry Trends (Page No. - 29)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Interests in the Adoption of the Blockchain Technology in the Retail Industry
                    5.2.1.2 Rising Efficiency and Speed in Retail and Supply Chain Transactions
                    5.2.1.3 Reduced Total Cost of Ownership
           5.2.2 Restraints
                    5.2.2.1 Uncertain Regulatory and Compliance Environment
           5.2.3 Opportunities
                    5.2.3.1 Rapidly Transforming International Trade and Retail Sector
                    5.2.3.2 Increasing Venture Funding and Investments in the Blockchain Technology
           5.2.4 Challenges
                    5.2.4.1 Lack of Standards and Best Practices
                    5.2.4.2 Lack of Awareness and Technical Understanding About the Blockchain Technology
    5.3 Industry Trends
           5.3.1 Types of Blockchain Technology
                    5.3.1.1 Private Blockchain
                    5.3.1.2 Public Blockchain
           5.3.2 Blockchain Associations and Consortiums
                    5.3.2.1 Enterprise Ethereum Alliance
                    5.3.2.2 Hyperledger Consortium
                    5.3.2.3 Blockchain Collaborative Consortium
                    5.3.2.4 R3cev Blockchain Consortium
    5.4 Use Cases
           5.4.1 Blockchain Technology for Automated Customer Services
           5.4.2 Blockchain Project for Supply Chain and Inventory Management
           5.4.3 Blockchain for Payments and Ecommerce
           5.4.4 Blockchain for Kyc Compliance in Retail

6 Blockchain in Retail Market, By Provider (Page No. - 38)
    6.1 Introduction
    6.2 Application Providers
    6.3 Middleware Providers
    6.4 Infrastructure Providers

7 Blockchain in Retail Market, By Application (Page No. - 43)
    7.1 Introduction
    7.2 Compliance Management
    7.3 Identity Management
    7.4 Loyalty and Rewards Management
    7.5 Payments
    7.6 Smart Contracts
    7.7 Supply Chain Management
    7.8 Others

8 Blockchain in Retail Market, By Organization Size (Page No. - 51)
    8.1 Introduction
    8.2 Small and Medium-Sized Enterprises
    8.3 Large Enterprises

9 Blockchain in Retail Market, By Region (Page No. - 55)
    9.1 Introduction
    9.2 North America
           9.2.1 By Provider
           9.2.2 By Application
           9.2.3 By Organization Size
           9.2.4 By Country
                    9.2.4.1 United States
                    9.2.4.2 Canada
    9.3 Europe
           9.3.1 By Provider
           9.3.2 By Application
           9.3.3 By Organization Size
           9.3.4 By Country
                    9.3.4.1 United Kingdom
                    9.3.4.2 Germany
                    9.3.4.3 Rest of Europe
    9.4 Asia Pacific
           9.4.1 By Provider
           9.4.2 By Application
           9.4.3 By Organization Size
           9.4.4 By Country
                    9.4.4.1 China
                    9.4.4.2 India
                    9.4.4.3 Australia and New Zealand
                    9.4.4.4 Rest of Asia Pacific
    9.5 Middle East and Africa
           9.5.1 By Provider
           9.5.2 By Application
           9.5.3 By Organization Size
           9.5.4 By Subregion
                    9.5.4.1 Middle East
                    9.5.4.2 Africa
    9.6 Latin America
           9.6.1 By Provider
           9.6.2 By Application
           9.6.3 By Organization Size
           9.6.4 By Country
                    9.6.4.1 Brazil
                    9.6.4.2 Mexico
                    9.6.4.3 Rest of Latin America

10 Competitive Landscape (Page No. - 72)
     10.1 Overview
     10.2 Market Ranking and Key Players
     10.3 Competitive Scenario
             10.3.1 New Product Launches and Product Enhancements
             10.3.2 Partnerships, Agreements, and Collaborations

11 Company Profiles (Page No. - 76)
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 IBM
     11.2 Microsoft
     11.3 SAP
     11.4 AWS
     11.5 Oracle
     11.6 Bitfury
     11.7 Cegeka
     11.8 Auxesis Group
     11.9 Blockpoint
     11.10 Coinbase
     11.11 Loyyal
     11.12 Abra
     11.13 Bitpay
     11.14 Blockverify
     11.15 BTL Group
     11.16 Modultrade
     11.17 Recordskeeper
     11.18 Guardtime
     11.19 Blockchain Foundry
     11.20 Bigchaindb
     11.21 Sofocle Technologies
     11.22 OGY Docs
     11.23 Reply
     11.24 Project Provenance
     11.25 Warranteer Digital

*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 118)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Introducing RT: Real-Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (41 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Blockchain in Retail Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 4 Application Providers: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 5 Middleware Providers: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 6 Infrastructure Providers: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 7 Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 8 Compliance Management: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 9 Identity Management: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 10 Loyalty and Rewards Management: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 11 Payments: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 12 Smart Contracts: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 13 Supply Chain Management: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 14 Others: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 15 Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 16 Small and Medium-Sized Enterprises: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 17 Large Enterprises: Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 18 Blockchain in Retail Market Size, By Region, 2016–2023 (USD Million)
Table 19 North America: Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 20 North America: Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 21 North America: Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 22 North America: Blockchain in Retail Market Size, By Country, 2016–2023 (USD Million)
Table 23 Europe: Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 24 Europe: Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 25 Europe: Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 26 Europe: Blockchain in Retail Market Size, By Country, 2016–2023 (USD Million)
Table 27 Asia Pacific: Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 28 Asia Pacific: Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 29 Asia Pacific: Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 30 Asia Pacific: Blockchain in Retail Market Size, By Country, 2016–2023 (USD Million)
Table 31 Middle East and Africa: Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 32 Middle East and Africa: Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 33 Middle East and Africa: Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 34 Middle East and Africa: Blockchain in Retail Market Size, By Subregion, 2016–2023 (USD Million)
Table 35 Latin America: Blockchain in Retail Market Size, By Provider, 2016–2023 (USD Million)
Table 36 Latin America: Blockchain in Retail Market Size, By Application, 2016–2023 (USD Million)
Table 37 Latin America: Blockchain in Retail Market Size, By Organization Size, 2016–2023 (USD Million)
Table 38 Latin America: Blockchain in Retail Market Size, By Country, 2016–2023 (USD Million)
Table 39 Blockchain in Retail Market: Market Ranking, 2018
Table 40 New Product Launches and Product Enhancements, 2016–2018
Table 41 Partnerships, Agreements, and Collaborations, 2016–2017


List of Figures (29 Figures)

Figure 1 Blockchain in Retail Market: Market Segmentation
Figure 2 Blockchain in Retail Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Blockchain in Retail Market: Assumptions
Figure 8 Supply Chain Management and North America are Estimated to Have the Largest Market Shares in 2018
Figure 9 Blockchain in Retail Market Share, By Provider, 2018
Figure 10 North America is Estimated to Hold the Largest Market Share in 2018
Figure 11 High Adoption of the Blockchain Technology Across Various Application Areas to Provide Significant Growth Opportunities in the Blockchain in Retail Market During the Forecast Period
Figure 12 Application Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Loyalty and Rewards Management Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Blockchain in Retail Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Application Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Loyalty and Rewards Management Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 North America: Market Snapshot
Figure 21 Asia Pacific: Market Snapshot
Figure 22 Key Developments By the Leading Players in the Blockchain in Retail Market, 2016–2018
Figure 23 IBM: Company Snapshot
Figure 24 Microsoft: Company Snapshot
Figure 25 SAP: Company Snapshot
Figure 26 AWS: Company Snapshot
Figure 27 Oracle: Company Snapshot
Figure 28 Cegeka: Company Snapshot
Figure 29 Reply: Company Snapshot


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Report Code
TC 6407
Published ON
Jun, 2018
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