Practices › BlockchainBlockchain in Retail Market


Blockchain in Retail Market


Information & Communications Technology
Software & Services

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 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.

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  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.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

We can help find ?

Latent demand for you, for your prospective client, or your prospective partners