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Blockchain in Retail Market 2019 Business Trends, Size, Segments and Profit Growth by Forecast to 2024Blockchain in Retail Market Synopsis: The blockchain technology is a decentralized method of maintaining records in blocks. The information is encrypted using cryptography and allows information to be distributed but not copied. The retail industry has undergone various changes after the boom of the Internet and ecommerce to sustain. The global Retail Market report by Market Research Future (MRFR) outlines the various challenges faced by the retail industry and the use of blockchain to overcome them. Competitive Landscape: Key market players include Cisco Systems Inc., SAP SE, Tata Consultancy Services Limited, Blockpoint Systems, R3, Microsoft Corporation, Amazon Web Services, BlockApps, Cegeka, Auxesis Group, Oracle Corporation, Coin Sciences Ltd., Bitfury USA Inc., IBM Corporation, and Cognizant. Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7703 Market Prospects: The global blockchain in retail market is predicted to accrue revenue close to USD 1.76 billion by exhibiting a CAGR of 78.49% till 2024, as per MRFR. The security associated with blockchain is the primary driver of the market. In addition, the use of the technology to streamline operations and improve efficiency along the supply chain is likely to augur well for the market. The scope for processes such as inventory management, supply chain visibility, product authenticity, and database management are expected to be secure in this manner. Smart contracts can be created for an added layer of security between distributors and retailers to ensure the successful transportation of goods. The barcodes attached to the products can outline ownership history and product details to create transparency and promotes authenticity. Adoption of the technology by supermarket and grocery stores can push market demand exponentially. In addition, customer loyalty programs powered by the technology and capacity to run on multiple operating systems such as Android and iOS can foster market growth. Segmentation: The global blockchain in retail market is segmented by type, application, organization size, and platform. • By type, it is segmented into public, private, and consortium. • By application, it is segmented into database management, compliance management, payment management, inventory management, loyalty and rewards management, fraud management, and auditing. • By organization size, it is segmented into large enterprises and SMEs. • By platform, it is segmented into Hyperledger Fabric, Ripple, Ethereum, R3 Corda, Bitcoin, Quorum, Multichain, and others. Regional Analysis: North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are major regions studied in the global blockchain in retail market report. North America holds the largest market share owing to a large number of retail chains operating in the U.S., Canada, and Mexico. Convenience and rapid customer service can push the adoption rate of the technology and spur market demand. Access Report Details @ https://www.marketresearchfuture.com/reports/blockchain-in-retail-market-7703 Industry News: Target, one of the biggest U.S. retail chains, has developed ConsenSource, a blockchain solution for streamlining its supply chain in 2019. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact: Market Research Future Office No. 524/528, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028 Maharashtra, India +1 646 845 9312 Email: [email protected] As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |