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Blockchain In Retail Market Size, Share, Industry Trends and Forecast to 2030

Blockchain In Retail Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Blockchain In Retail Market Size & CAGR in 2021

The global blockchain in retail market is expected to have a growth rate of 28.5% CAGR from 2021 to 2028. The market is anticipated to reach a value of USD 5.7 billion by 2028. Blockchain technology is gaining traction in the retail sector due to its ability to enhance transparency, security, and efficiency in various processes such as supply chain management, payments, and customer data management.

COVID-19 Impact on the Blockchain In Retail Market

The COVID-19 pandemic has accelerated the adoption of blockchain technology in the retail industry. Retailers are increasingly turning to blockchain solutions to streamline their supply chains, enable contactless payments, and ensure the authenticity of products. The pandemic has highlighted the need for secure and transparent systems in the retail sector, driving the demand for blockchain technology.

Blockchain In Retail Dynamics

The dynamics of blockchain in the retail industry are evolving rapidly. Retailers are leveraging blockchain technology to optimize their operations, reduce costs, and enhance customer trust. The key drivers for the adoption of blockchain in retail include increasing data security concerns, demand for transparency, and the need for more efficient supply chain management.

Segments and Related Analysis

The blockchain in retail market can be segmented based on application, provider, and region. Applications of blockchain in retail include supply chain management, payment systems, loyalty programs, and product authentication. Blockchain providers offer solutions such as IBM Blockchain, Microsoft Azure, and SAP Blockchain. Regionally, North America leads the adoption of blockchain in retail, followed by Europe and Asia Pacific.

By Region Analysis

North America is the largest market for blockchain in the retail sector, driven by the presence of major retail players and technological advancements. Europe is also a significant market, with retailers in the region increasingly exploring blockchain solutions. The Asia Pacific region is witnessing rapid growth in blockchain adoption in retail, particularly in countries like China and India.

Key Market Players and Competitive Landscape

Key players in the blockchain in retail market include IBM, Microsoft, SAP, Oracle, and Accenture. These companies are investing heavily in blockchain research and development to offer innovative solutions to retailers. The competitive landscape of the market is intense, with players focusing on enhancing their product offerings and expanding their market presence through strategic partnerships and acquisitions.

Recent Happenings in the Blockchain In Retail Market

1. In September 2021, IBM announced a partnership with major retail chains to implement blockchain technology in supply chain management. 2. Microsoft launched Azure Blockchain in Retail in October 2020, offering retailers a secure and scalable platform for blockchain applications. 3. SAP introduced blockchain solutions for retail loyalty programs in collaboration with leading retail brands in November 2021. 4. Oracle developed a blockchain-based product authentication system for retail in December 2021, allowing customers to verify the authenticity of products. 5. Accenture partnered with retail giants to create a blockchain-based payment system in January 2022, increasing transaction security and efficiency in retail operations.

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