Blockchain In Retail Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company’s Blockchain In Retail Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 31, 2024 /EINPresswire.com/ — The blockchain in retail market is expected to grow from $1.58 billion in 2023 to $2.96 billion in 2024, with a compound annual growth rate (CAGR) of 87.4%. This growth during the historic period is driven by factors such as increased supply chain transparency, streamlined payments and transactions, the adoption of smart contracts, more efficient inventory management, and the facilitation of cross-border transactions.

What Is The Estimated Market Size Of The Global Blockchain In Retail Market And Its Annual Growth Rate?
The blockchain in retail market is projected to reach $34.44 billion by 2028, with a compound annual growth rate (CAGR) of 84.7%. This growth during the forecast period can be attributed to improved product traceability, increased cross-industry collaboration, decentralized identity verification, asset tokenization, and regulatory compliance.

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Growth Driver Of The Blockchain In Retail Market
The expansion of retail businesses is anticipated to drive the growth of blockchain in the retail market. Retail refers to businesses that sell products or services directly to consumers for personal use or consumption. Retailers are utilizing blockchain technology for efficient supply chain management, product authentication, inventory management, and improved payment transactions.

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Which Market Players Are Driving the Blockchain In Retail Market Growth?
Key players in the market include International Business Machines Corporation, SAP SE, Oracle Corporation, Bitfury Group Limited, Auxesis Services & Technologies (P) Ltd., Walmart Inc., Target Corporation, Alibaba Group Holding Limited, Overstock. com Inc., Blockverify Limited, Amazon Web Services Inc., Chronicled Inc., Coinfirm Limited, The De Beers Group, Everledger Limited, Filament, Inc., Fluent Inc., Loyyal Corporation, modum. io AG, Provenance Limited, Ripe Technology Inc., Skuchain Inc., Sweetbridge Inc., Taeltech Pte. Ltd., TE-FOOD International GmbH, VeChain Foundation San Marino S. r. l., Ambrosus Technologies GmbH, ARCNET Corp., Block Array LLC, Chainvine Limited, OriginTrail d. o. o.

What Are the Emerging Trends Shaping the Blockchain In Retail Market
Leading companies in the blockchain retail industry are pursuing strategic partnerships to deliver essential blockchain services to individuals, businesses, and governments. Strategic partnerships involve companies leveraging each other’s strengths and resources to achieve mutual benefits and drive success.

How Is The Global Blockchain In Retail Market Segmented?
1) By Component: Platform/Solutions, Services
2) By Providers: Application Providers, Middleware Providers, Infrastructure Providers
3) By Application: Compliance Management, Identity Management, Loyalty and Rewards Management, Payments, Smart Contracts, Supply Chain Management, Other Applications
4) By Organization Size: Large Enterprises, Small & Medium Enterprises (SMEs)

Geographical Insights: North America Leading The Blockchain In Retail Market
North America was the largest region in the blockchain in retail market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Blockchain In Retail Market Definition
Blockchain is a secure, immutable shared ledger that records online transactions, monitors assets, and fosters trust within a business network.

Blockchain In Retail Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global blockchain in retail market report covering trends, opportunities, strategies, and more
The Blockchain In Retail Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blockchain in retail market size, blockchain in retail market drivers and trends and blockchain in retail market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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