This report provides an extensive analysis of the current and emerging market trends and dynamics in the global blockchain in retail market. An in-depth analysis is done by constructing market estimations for the key market segments between 2016 and 2023.
Blockchain in retail refers to the technology that maintains and manages distributed database consisting of transactions among different parties, including suppliers, manufacturers, or customers involved or related to the business. The transaction is recorded in chronological order and provides transaction details to every connected user.
The growth of the global blockchain in retail market is driven by growth in demand for transparency related to product origin or processes and rise in need to reduce duplicative record keeping. Other factors that fuel the market growth include rapid digitalization and reduced total cost of ownership.
However, factors such as lack of awareness related to blockchain technology and increase in counterfeit products restrict the growth of the market.
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The report segments the blockchain in retail market on the basis of type, application, and geography. On the basis of type, the market is categorized into public, private, and others.
Applications covered in the study include exchange, payment, documentation, others. Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as BTL Group Ltd., BitFury Group Limited, Coinbase, Chain Inc, Deloitte, Earthport PLC, IBM Corporation, INTELYGENZ, Microsoft Corporation, and Ripple are provided in this report.
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