The international blockchain supply chain market is expected to reach over $9 billion by 2025, according to a study published by market analysis and consulting firm Allied Market Research on July 8.
AMR estimates that the global blockchain supply chain market will amount to $9.85 billion by 2025, showing an 80.2% surge of the compound annual growth rate (CAGR) from 2018 to 2025. Among the crucial many driving elements, Allied Market Research named the sector’s demand for transparency, and enhanced security of supply chain transactions blockchain could purportedly ensure.
By industry vertical, the retail sector is predicted to lead in terms of contribution to the overall market revenue from 2018 to 2025, though the healthcare industry will purportedly see the highest CAGR over the projected interval. These industries are accompanied by manufacturing, food and beverages, and oil and gas as the key contributors to the blockchain supply chain market.
Based on geography, Allied Market Research considers North America to be the most advanced area in terms of infrastructure and know-how adoption, while the Asia Pacific region is predicted to register the CAGR highest growth of 90.4 percent for the blockchain supply chain market during the forecast period.
Another latest study by market analysis project Reportlinker predicts that the blockchain market within the automotive and aerospace areas will reach over 20 billion USD by 2029. The research additionally sees blockchain features such as transparency, fast transaction settlements, and removal of the risk of fraud as significant growth drivers.