The "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 has been added to ResearchAndMarkets.com's offering.
The global blockchain supply chain market is forecast to grow from USD 145 million in 2018 to USD 3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87% during the forecast period.
Main growth factors for the market include an increasing need for supply chain transparency and rising demand for enhanced security of supply chain transactions. However, lack of awareness of the blockchain technology and uncertain regulatory status and standards are expected to limit the market growth.
The product traceability segment is estimated to hold the largest market size in 2018. By tracing and recording the product status at every stage of supply chain, the blockchain technology enables retailers and manufacturers to showcase the authenticity of the products to their consumers. Hence, product traceability application is rapidly being adopted across numerous verticals.
The healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period, as blockchain supply chain offerings enable healthcare and pharmaceutical companies to reduce the illegal activities, such as illegal production of harmful medicines and counterfeit drugs, by criminal enterprises, improper stock control, and lack of visibility and transparency across the supply chain.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Blockchain Supply Chain Market By Provider
7 Market By Application
8 Blockchain Supply Chain Market, By Industry Vertical
9 Market By Region
10 Competitive Landscape
11 Company Profiles
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005397/en/