Dublin, Oct. 29, 2018 (GLOBE NEWSWIRE) -- The "Blockchain in Retail Market by Provider, Application (Compliance Management, Identity Management, Loyalty & Rewards Management, Payment, Smart Contracts, and Supply Chain Management), Organization Size, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The blockchain in retail market size is expected to grow from USD 80.0 million in 2018 to USD 2,339.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 96.4% during the forecast period.
The market study covers the blockchain in retail market across segments. It aims at estimating the market size and the growth potential of this market, across segments, such as provider, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
he blockchain in retail market is driven by the growing need for increased efficiency and speed in retail and supply chain transactions, and focus on preventing fraudulent activities in the retail industry. However, uncertain regulatory and compliance environment along with the lack of awareness and technical understanding about the blockchain technology can hinder the growth of the market.
The loyalty and rewards management segment is expected to grow at the highest CAGR during the forecast period. Loyalty and rewards management is an integral part of the sales services that the retailers are expected to provide to their customers. This has become easier and cost effective with the help of the blockchain technology. Traditional solutions create complications while managing the information related to purchase dates, warranties, and loyalty and reward points status.
The blockchain technology can be successfully implemented by retailers for managing documents, maintaining loyalty records, tracking account inactivity. This can help them reduce redemption rates, customer service and marketing costs and eventually create more value for the consumers, and the investors. Hence, the adoption of blockchain technology to manage loyalty and rewards in the retail sector is increasing.
APAC is expected to grow at the highest rate during the forecast period, due to the growing number of blockchain startups and increasing venture funding activities in the blockchain technology solutions for the retail industry aimed at transforming the various business processes and transactions. The key financial hubs, and massive shipping and trading markets, including Hong Kong and Singapore, provide huge opportunities for the adoption of the blockchain in the retail industry. North America, being the early adopter of innovative technologies, is projected to hold the largest market size in the global blockchain in retail market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Blockchain in Retail Market
4.2 Blockchain in Retail Market, By Provider
4.3 Blockchain in Retail Market, By Application
4.4 Blockchain in Retail Market, By Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Interests in the Adoption of the Blockchain Technology in the Retail Industry
5.2.1.2 Rising Efficiency and Speed in Retail and Supply Chain Transactions
5.2.1.3 Reduced Total Cost of Ownership
5.2.2 Restraints
5.2.2.1 Uncertain Regulatory and Compliance Environment
5.2.3 Opportunities
5.2.3.1 Rapidly Transforming International Trade and Retail Sector
5.2.3.2 Increasing Venture Funding and Investments in the Blockchain Technology
5.2.4 Challenges
5.2.4.1 Lack of Standards and Best Practices
5.2.4.2 Lack of Awareness and Technical Understanding About the Blockchain Technology
5.3 Industry Trends
5.3.1 Types of Blockchain Technology
5.3.1.1 Private Blockchain
5.3.1.2 Public Blockchain
5.3.2 Blockchain Associations and Consortiums
5.3.2.1 Enterprise Ethereum Alliance
5.3.2.2 Hyperledger Consortium
5.3.2.3 Blockchain Collaborative Consortium
5.3.2.4 R3cev Blockchain Consortium
5.4 Use Cases
5.4.1 Blockchain Technology for Automated Customer Services
5.4.2 Blockchain Project for Supply Chain and Inventory Management
5.4.3 Blockchain for Payments and Ecommerce
5.4.4 Blockchain for Kyc Compliance in Retail
6 Blockchain in Retail Market, By Provider
6.1 Introduction
6.2 Application Providers
6.3 Middleware Providers
6.4 Infrastructure Providers
7 Blockchain in Retail Market, By Application
7.1 Introduction
7.2 Compliance Management
7.3 Identity Management
7.4 Loyalty and Rewards Management
7.5 Payments
7.6 Smart Contracts
7.7 Supply Chain Management
7.8 Others
8 Blockchain in Retail Market, By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Blockchain in Retail Market, By Region
9.1 Introduction
9.2 North America
9.2.1 By Provider
9.2.2 By Application
9.2.3 By Organization Size
9.2.4 By Country
9.2.4.1 United States
9.2.4.2 Canada
9.3 Europe
9.3.1 By Provider
9.3.2 By Application
9.3.3 By Organization Size
9.3.4 By Country
9.3.4.1 United Kingdom
9.3.4.2 Germany
9.3.4.3 Rest of Europe
9.4 Asia Pacific
9.4.1 By Provider
9.4.2 By Application
9.4.3 By Organization Size
9.4.4 By Country
9.4.4.1 China
9.4.4.2 India
9.4.4.3 Australia and New Zealand
9.4.4.4 Rest of Asia Pacific
9.5 Middle East and Africa
9.5.1 By Provider
9.5.2 By Application
9.5.3 By Organization Size
9.5.4 By Subregion
9.5.4.1 Middle East
9.5.4.2 Africa
9.6 Latin America
9.6.1 By Provider
9.6.2 By Application
9.6.3 By Organization Size
9.6.4 By Country
9.6.4.1 Brazil
9.6.4.2 Mexico
9.6.4.3 Rest of Latin America
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking and Key Players
10.3 Competitive Scenario
10.3.1 New Product Launches and Product Enhancements
10.3.2 Partnerships, Agreements, and Collaborations
11 Company Profiles
11.1 IBM
11.2 Microsoft
11.3 SAP
11.4 AWS
11.5 Oracle
11.6 Bitfury
11.7 Cegeka
11.8 Auxesis Group
11.9 Blockpoint
11.10 Coinbase
11.11 Loyyal
11.12 Abra
11.13 Bitpay
11.14 Blockverify
11.15 BTL Group
11.16 Modultrade
11.17 Recordskeeper
11.18 Guardtime
11.19 Blockchain Foundry
11.20 Bigchaindb
11.21 Sofocle Technologies
11.22 OGY Docs
11.23 Reply
11.24 Project Provenance
11.25 Warranteer Digital
For more information about this report visit https://www.researchandmarkets.com/research/v45tp8/blockchain_in?w=12
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