Blockchain Supply Chain Market

Blockchain Supply Chain Market by Application (Payment & Settlement, Counterfeit Detection, Smart Contracts, Risk & Compliance Management, and Product Traceability), Provider, Vertical, and Region - Global Forecast to 2023

Report Code: TC 6430 Jul, 2018, by marketsandmarkets.com

[134 Pages Report] The global blockchain supply chain market size was USD 82.1 million in 2017 and is projected to reach USD 3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87.0% during the forecast period. The base year considered for this report is 2017, and the market forecast period is 2018–2023.

An Increasing need for supply chain transparency and rising demand for enhanced security of supply chain transactions are major growth factors for the market. Increased automation and elimination of middlemen with blockchain in supply chain management would create opportunities for the market growth during the forecast period.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global blockchain supply chain market by providers, applications, industry verticals, and regions. The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; and Research and Development (R&D) activities in the market.

Research Methodology

The research methodology used to estimate and forecast the blockchain supply chain market begins with capturing data on key vendor revenues through secondary research, which includes directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). Vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived 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, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary participants is depicted in the figure below:

Blockchain Supply Chain Market

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

The blockchain supply chain ecosystem comprises vendors, such as IBM (US), Microsoft (US), Oracle (US), SAP SE (Germany), AWS (US), Huawei (China), Bitfury (Netherlands), Auxesis Group (India), TIBCO Software (US), BTL Group (Canada), Applied Blockchain (UK), Guardtime (Estonia), Nodalblock (Spain), Peer Ledger (Canada), Blockverify (UK), TransChain (France), RecordsKeeper (Spain), Datex Corporation (US), Ownest (France), Omnichain (US), Traceparency (France), Digital Treasury Corporation (China), Chainvine (UK), VeChain (China), Algorythmix (India), and OpenXcell (US). Other stakeholders of the blockchain supply chain market include cryptocurrency vendors, research organizations, network and system integrators, blockchain service providers, distributed ledger technology solution providers, and technology providers.

Key Target Audience:

  • Application developers
  • Service providers and distributors
  • Blockchain application builders
  • Independent Software Vendors (ISVs)
  • Enterprises
  • End-users

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

Scope of the Report

The research report categorizes the blockchain supply chain market to forecast the revenues and analyze trends in each of the following subsegments:

By Application

  • Payment & Settlement
  • Counterfeit Detection
  • Product Traceability
  • Smart contracts
  • Risk & Compliance Management
  • Others (Documentation and Rewards Management)

By Provider

  • Application and Solution providers
  • Middleware providers
  • Infrastructure and protocols providers

By Industry Vertical

  • Retail and Consumer Goods
  • Healthcare and Life Sciences
  • Manufacturing
  • Oil and Gas
  • Logistics
  • Others (Construction and Agriculture)

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:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players up to 5.

The global blockchain supply chain market is expected to grow from USD 145.0 million in 2018 to USD 3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87.0% during the forecast period. An increasing need for supply chain transparency and rising demand for enhanced security of supply chain transactions are major growth factors for the market. Growing need for automating supply chain activities and eliminating middlemen with blockchain in supply chain management would create opportunities for market growth during the forecast period.

The blockchain supply chain market study aims at estimating the market size and future growth potential of the market across segments, such as provider, application, industry vertical, and region. The application segment includes payment and settlement, counterfeit detection, product traceability, smart contracts, risk and compliance management, and others* (documentation and rewards management). The product traceability application segment is expected to dominate market in terms of market size, as the blockchain technology could provide real-time information related to products at each stage of supply chain and thus, helps to eliminate possibility of counterfeiting.

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

Blockchain supply chain applications are finding an increased adoption among industry verticals, including retail and consumer goods, healthcare and life sciences, manufacturing, oil and gas, and logistics. These major industries are adopting the blockchain technology to enhance transparency, security and product traceability across supply chain. The retail and consumer goods vertical is estimated to hold the largest market size in 2018, owing the high adoption of blockchain technology for payments and settlement, product traceability, and counterfeit detection.

Blockchain Supply Chain Market

In terms of geographic coverage, the blockchain supply chain market has been segmented into 5 main regions, namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to account for the largest share of the overall market in 2018. North America is considered the most advanced region in terms of technology adoption and infrastructure. The wide presence of key industry players of blockchain technology solutions in this region is the main driving factor for the market. Companies across industry verticals, such as retail and consumer goods, manufacturing, healthcare and logistics, provide significant growth opportunities for vendors in the market. In terms of growth, APAC region is expected to record the highest CAGR during the forecast period with ongoing developments in the major APAC countries, such as China, India, Singapore, and Japan. However, lack of awareness and technical understanding about blockchain technology may restrain the growth of global market.

Major blockchain technology vendors include IBM (US), Microsoft (US), Oracle (US), SAP SE (Germany), AWS (US), Huawei (China), Bitfury (Netherlands), Auxesis Group (India), TIBCO Software (US), BTL Group (Canada), Applied Blockchain (UK), Guardtime (Estonia), Nodalblock (Spain), Peer Ledger (Canada), Blockverify (UK), TransChain (France), RecordsKeeper (Spain), Datex Corporation (US), Ownest (France), Omnichain (US), Traceparency (France), Digital Treasury Corporation (China), Chainvine (UK), VeChain (China), Algorythmix (India), and OpenXcell (US). These players majorly adopted partnerships and new product launches as the key growth strategies to offer feature-rich blockchain technology solutions to their customers and further penetrate regions with unmet needs.

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Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    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. - 20)
    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
    2.4 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Market Opportunities in the Blockchain Supply Chain Market
    4.2 Market By Provider
    4.3 Market By Application
    4.4 Market By Region
    4.5 Investment Opportunities in the Market

5 Market Overview and Industry Trends (Page No. - 34)
    5.1 Market Overview
           5.1.1 Market Dynamics
                    5.1.1.1 Drivers
                               5.1.1.1.1 Increasing Need for Supply Chain Transparency
                               5.1.1.1.2 Rising Demand for Enhanced Security of Supply Chain Transactions
                    5.1.1.2 Restraints
                               5.1.1.2.1 Lack of Awareness of the Blockchain Technology
                               5.1.1.2.2 Uncertain Regulatory Status and Standards
                    5.1.1.3 Opportunity
                               5.1.1.3.1 Growing Need for Automating Supply Chain Activities and Eliminating Middlemen
                    5.1.1.4 Challenges
                               5.1.1.4.1 Managing the Increasing Data Volume
                               5.1.1.4.2 Lack of the Technical Knowledge
    5.2 Industry Trends
           5.2.1 Market Top Trends
                    5.2.1.1 Integration of the Blockchain Technology With the Internet of Things
                    5.2.1.2 Smart Contracts
           5.2.2 Market Use Cases
                    5.2.2.1 Use Case 1: to Check the Authenticity, Provenance, and Origin of Products By Tracking the Global Flow of Goods, By BigchainDB
                    5.2.2.2 Use Case 2: to Reduce the Wastage of Food By Improving Food Safety and Traceability, and Helping Its Online and Offline Consumers Across the Globe, By IBM
           5.2.3 Advantages of Blockchain in Supply Chain Management

6 Blockchain Supply Chain Market By Provider (Page No. - 40)
    6.1 Introduction
    6.2 Application and Solution Providers
    6.3 Middleware Providers
    6.4 Infrastructure and Protocols Providers

7 Market By Application (Page No. - 45)
    7.1 Introduction
    7.2 Payment and Settlement
    7.3 Counterfeit Detection
    7.4 Product Traceability
    7.5 Smart Contracts
    7.6 Risk and Compliance Management
    7.7 Others

8 Blockchain Supply Chain Market, By Industry Vertical (Page No. - 51)
    8.1 Introduction
    8.2 Retail and Consumer Goods
    8.3 Healthcare and Life Sciences
    8.4 Manufacturing
    8.5 Oil and Gas
    8.6 Logistics
    8.7 Others

9 Market By Region (Page No. - 58)
    9.1 Introduction
    9.2 North America
           9.2.1 By Provider
           9.2.2 By Application
           9.2.3 By Industry Vertical
           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 Industry Vertical
           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 Industry Vertical
           9.4.4 By Country
                    9.4.4.1 India
                    9.4.4.2 Singapore
                    9.4.4.3 China
                    9.4.4.4 Rest of Asia Pacific
    9.5 Latin America
           9.5.1 By Provider
           9.5.2 By Application
           9.5.3 By Industry Vertical
           9.5.4 By Country
                    9.5.4.1 Brazil
                    9.5.4.2 Mexico
                    9.5.4.3 Rest of Latin America
    9.6 Middle East and Africa
           9.6.1 By Provider
           9.6.2 By Application
           9.6.3 By Industry Vertical
           9.6.4 Country
                    9.6.4.1 Middle East
                    9.6.4.2 Africa

10 Competitive Landscape (Page No. - 77)
     10.1 Overview
     10.2 Blockchain Supply Chain Market: Prominent Players
     10.3 Competitive Scenario
             10.3.1 New Product Launches and Product Upgradations
             10.3.2 Partnerships and Collaborations
             10.3.3 Acquisitions
             10.3.4 Business Expansions

11 Company Profiles (Page No. - 81)
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 IBM
     11.2 Microsoft
     11.3 SAP SE
     11.4 AWS
     11.5 Huawei
     11.6 Oracle
     11.7 Guardtime
     11.8 Tibco Software
     11.9 Auxesis Group
     11.10 BTL Group
     11.11 Bitfury
     11.12 Omnichain
     11.13 Vechain Foundation
     11.14 Chainvine
     11.15 Digital Treasury Corporation
     11.16 Blockverify
     11.17 Nodalblock
     11.18 Peer Ledger
     11.19 Openxcell
     11.20 Applied Blockchain
     11.21 Recordskeeper
     11.22 Transchain
     11.23 Datex Corporation
     11.24 Ownest
     11.25 Traceparency
     11.26 Algorythmix

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

12 Appendix (Page No. - 126)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customization
     12.6 Related Reports
     12.7 Author Details


List of Tables (46 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Blockchain Supply Chain Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Market Size By Provider, 2016–2023 (USD Million)
Table 4 Application and Solution Providers: Market Size By Region, 2016–2023 (USD Million)
Table 5 Middleware Providers: Market Size By Region, 2016–2023 (USD Million)
Table 6 Infrastructure and Protocols Providers: Market Size By Region, 2016–2023 (USD Million)
Table 7 Blockchain Supply Chain Market Size, By Application, 2016–2023 (USD Million)
Table 8 Payment and Settlement: Market Size By Region, 2016–2023 (USD Million)
Table 9 Counterfeit Detection: Market Size By Region, 2016–2023 (USD Million)
Table 10 Product Traceability: Market Size By Region, 2016–2023 (USD Million)
Table 11 Smart Contracts: Market Size By Region, 2016–2023 (USD Million)
Table 12 Risk and Compliance Management: Market Size By Region, 2016–2023 (USD Million)
Table 13 Others: Market Size By Region, 2016–2023 (USD Million)
Table 14 Blockchain Supply Chain Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 15 Retail and Consumer Goods: Market Size By Region, 2016–2023 (USD Million)
Table 16 Healthcare and Life Sciences: Market Size By Region, 2016–2023 (USD Million)
Table 17 Manufacturing: Market Size By Region, 2016–2023 (USD Million)
Table 18 Oil and Gas: Market Size By Region, 2013–2026 (USD Million)
Table 19 Logistics: Market Size By Region, 2013–2026 (USD Million)
Table 20 Others: Market Size By Region, 2016–2023 (USD Million)
Table 21 Blockchain Supply Chain Market Size, By Region, 2016–2023 (USD Million)
Table 22 North America: Market Size By Provider, 2016–2023 (USD Million)
Table 23 North America: Market Size By Application, 2016–2023 (USD Million)
Table 24 North America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 25 North America: Market Size By Country, 2016–2023 (USD Million)
Table 26 Europe: Blockchain Supply Chain Market Size, By Provider, 2016–2023 (USD Million)
Table 27 Europe: Market Size By Application, 2016–2023 (USD Million)
Table 28 Europe: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 29 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 30 Asia Pacific: Blockchain Supply Chain Market Size, By Provider, 2016–2023 (USD Million)
Table 31 Asia Pacific: Market Size By Application, 2016–2023 (USD Million)
Table 32 Asia Pacific: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 33 Asia Pacific: Market Size By Country, 2016–2023 (USD Million)
Table 34 Latin America: Blockchain Supply Chain Market Size, By Provider, 2016–2023 (USD Million)
Table 35 Latin America: Market Size By Application, 2016–2023 (USD Million)
Table 36 Latin America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 37 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 38 Middle East and Africa: Market Size By Provider, 2016–2023 (USD Million)
Table 39 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 40 Middle East and Africa: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 41 Middle East and Africa: Market Size By Subregion, 2016–2023 (USD Million)
Table 42 Key Players in the Blockchain Supply Chain Market
Table 43 New Product Launches and Product Upgradations, 2017–2018
Table 44 Partnerships and Collaborations, 2017–2018
Table 45 Acquisitions, 2016
Table 46 Business Expansions, 2016-2017


List of Figures (36 Figures)

Figure 1 Blockchain Supply Chain Market Segmentation
Figure 2 Regional Scope
Figure 3 Market Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Blockchain Supply Chain Market: Assumptions
Figure 9 Product Traceability Application and North America are Estimated to Have the Largest Market Shares in 2018
Figure 10 Blockchain Supply Chain Market Share, By Provider, 2018
Figure 11 North America is Estimated to Hold the Largest Market Share in 2018
Figure 12 High Adoption of the Blockchain Technology Across Application Areas to Provide Significant Opportunities for the Market Growth
Figure 13 Application and Solution Providers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Smart Contracts Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 Asia Pacific is Expected to Pose the Best Investment Opportunity During the Forecast Period
Figure 17 Blockchain Supply Chain Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Application and Solution Providers Segment is Expected to Exhibit the Highest CAGR During the Forecast Period
Figure 19 Smart Contracts Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Healthcare and Life Sciences Industry Vertical is Expected to Record the Highest CAGR During the Forecast Period
Figure 21 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 North America: Market Snapshot
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Key Developments By the Leading Players in the Blockchain Supply Chain Market, 2017–2018
Figure 25 IBM: Company Snapshot
Figure 26 IBM: SWOT Analysis
Figure 27 Microsoft: Company Snapshot
Figure 28 Microsoft: SWOT Analysis
Figure 29 SAP SE: Company Snapshot
Figure 30 SAP SE: SWOT Analysis
Figure 31 AWS: Company Snapshot
Figure 32 AWS: SWOT Analysis
Figure 33 Huawei: Company Snapshot
Figure 34 Huawei: SWOT Analysis
Figure 35 Oracle: Company Snapshot
Figure 36 BTL Group: Company Snapshot


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Report Code
TC 6430
Published ON
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