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Blockchain in Retail Market by Provider, Application, Organization Size And Region - Global Forecast to 2023

Blockchain: Retail Market Forecast until 2023

  • June 2018
  • 126 pages
  • ID: 5468491
In this report:
MEA is expected to hold ##.##% of the market share in 2018 and is projected to grow at a CAGR of ##.##% during the forecast period.
In the application providers segment, APAC is expected to grow at the highest CAGR of ##.##% during the forecast period and is projected to reach the market size of USD ##.## million by 2023, due to the increasing demand for application providers in the region.

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Growing interests and growing applications of the blockchain technology in the retail market is predicted to push the blockchain in retail market

The blockchain in retail market size is forecasted to grow from $80.00M in 2018 to $2339.50M by 2023, at a Compound Annual Rise rate of 96.40 percent during the forecast period. The blockchain in retail market is influenced by the increasing need for increased efficiency and speed in retail and supply chain transactions, and focus on preventing fraudulent activities in the retail sector. Nevertheless, uncertain regulatory and compliance environment together with the lack of awareness and technical understanding about the blockchain technology can hinder the increase of the market.

Loyalty and rewards management segment is anticipated to increase at the highest CAGR (Compound annual growth rate) during the estimate period

The loyalty and rewards management segment is anticipated to rise at the highest compound annual growth rate (CAGR) during the outlook period.Loyalty and rewards management is an integral part of the sales services that the retailers are anticipated to provide to their customers.

This has become easier and cost effective with the help of the blockchain technology.Traditional solutions create complications while managing the information related to purchase dates, warranties, and loyalty and reward points status.

The blockchain technology can be successfully implemented by retailers for managing documents, maintaining loyalty records, tracking account inactivity.This can benefit them reduce redemption rates, customer service and marketing costs and eventually create more value for the consumers, and the investors.

Therefrom, the adoption of blockchain technology to manage loyalty and rewards in the retail market is growing.

Asia-Pac is anticipated to record the maximum growth rate during the estimate period

Asia-Pacific is anticipated to grow at the maximal rate during the outlook period, due to the increasing number of blockchain startups and growing venture funding activities in the blockchain technology solutions for the retail market aimed at transforming the several business processes and transactions.The top financial hubs, and massive shipping and trading sectors, including Hong Kong and Singapore (SG), offer huge opportunities for the adoption of the blockchain in the retail sector.

North America (NA), being the early adopter of innovative technologies, is expected to hold the biggest industry size in the overall blockchain in retail market.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, other innovation and technology directors, and executives from numerous main institutions operating in the blockchain in retail marketplace.

• By company category: Tier 1: 55.0 percent, Tier 2: 20.0 percent, and Tier 3: 25.0 percent

• By description: C-suite: 60.0 percent, D-level: 25.0 percent, Others: 15.0 percent

• By area: North America continent: 35.0 percent, Europe (EU): 25.0 percent, Asia-Pac: 20.0 percent, MEA: 10.0 percent, Latin America area: 10.0 percent

Main blockchain technology vendors contain, IBM, SAP, Microsoft, Oracle, AWS, Bitfury, Auxesis Group, Cegeka, BTL, Guardtime, CoinBase, loyyal, Sofocle, BigchainDB, RecordsKeeper, BitPay, Abra, Reply, Provenance, ModulTrade, Blockverify, OGYDocs, Warranteer, and Blockchain Foundary. The report includes exhaustive competitive study of these top actors in the blockchain in retail market, with their company descriptions, latest developments, and key industries strategies.

Segment Research

The market study includes the blockchain in retail market across segments.It aims at evaluating the market value and the increase potential of this market, across segments, including provider, application, and area.

The market research also comprises a detailed competitive analysis of the top players in the sector, together with their company descriptions, main observations associated to product and business offerings, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector with data on the best approximations of the revenue data for the global blockchain in retail market and the sub-segments.This industry report will facilitate partners distinguish the competitive landscape and obtain additional insights to better option their businesses and to plan suitable go-to-market approaches.

The market research also benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

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