Key Takeaways

The Blockchain Market in Supply Chain is moderately consolidated with the top five players accounting for over 40% of the total market in 2018. Major players in the market include IBM Corp., Oracle Corp., T-Mining, DTCO, Deloitte, BTL Group Ltd., Ripple Labs Inc., and others.

In the application segment, procurement is set to witness significant growth in the Blockchain Market in Supply Chain as the companies look towards optimizing their procurement operations by cutting down the intermediaries in the process.

APAC is set to emerge as the largest market for the Blockchain Market in Supply Chain by 2025 driven by the growth in adoption of blockchain in countries such as China. Blockchain spending in China is anticipated to grow over 80% during 2017-2022. There is also increasing governmental support in the APAC region for the adoption of the technology which further assists the growth of the market in the region

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Blockchain Market in Supply Chain Segment Analysis - By Application

The fastest-growing sub-segment under application segment is procurement which is anticipated to grow at a CAGR of 74% during the forecast period 2019-2024. The growth of the procurement sub-segment is attributed to the numerous advantages blockchain adds to the procurement process in terms of efficient usage of resources and time. The integration of blockchain in procurement will make the business operations pertaining to the same more efficient by eliminating the intermediaries and the archaic processes. In May 2019, Daimler, a key automotive player has turned to blockchain tool Icertis Contract Management (ICM) to manage sourcing and contracting of its 400,000 supplier base.

Blockchain Market in Supply Chain Drivers

Rise of e-commerce sector

Digital Contracts and Payments

Market Landscape: The Blockchain Market in Supply Chain is moderately consolidated with the top five players accounting for over 40% of the total market in 2018. The major players in the market include IBM Corp., Oracle Corp., T-Mining, DTCO, Deloitte, BTL Group Ltd., Ripple Labs Inc., and others.

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