Industry Overview
The global Blockchain in Retail Market is projected to reach USD 35.8 billion by 2035, registering a CAGR of 38.4% during the forecast period. Increasing adoption of blockchain from the retail and supply chain sector, and increasing investment in blockchain technology, are propelling the growth of the market.
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Blockchain in Retail Market Segmentation
Insight by Provider
- Middleware Provider
- Application Provider
- Infrastructure Provider
The global blockchain in the retail market is categorized into middleware provider, application provider, and infrastructure provider, wherein the application provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed to the increasing adoption of technologically advanced blockchain solutions in retail companies.
Insight by Application
- Compliance Management
- Identity Management
- Loyalty Rewards Management
- Payments
- Smart Contracts
- Supply Chain Management
- Others
The blockchain in the retail market is segmented into compliance management, identity management, loyalty and rewards management, payments, smart contracts, supply chain management, and others (anti-counterfeiting, advertising, and consumer data management). Among all these segments, the supply chain management category contributes the largest revenue globally, owing to the increase in deployment of blockchain technologies across various business processes to cut down on costs of verification, execution, arbitration, and fraud prevention by the various multinational retail and supply chain management corporations.
Global Blockchain in Retail Market Report Coverage
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Report Metric
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Details
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Historical Period
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2020 - 2024
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Base Year Considered
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2025
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Forecast Period
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2026 - 2035
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Market Size in 2025
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U.S.D. XX Billion
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Revenue Forecast in 2035
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U.S.D. 35.8 Billion
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Growth Rate
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38.4%
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Segments Covered in the Report
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By Provider, and By Application
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Trends
Rapidly transforming international trade and retail Sector across the globe is the key trend observed in the blockchain in the retail market, globally. With blockchain, customers can have more control over their personal data. They can choose to share specific data with retailers while maintaining their privacy. Blockchain can also help retailers securely store and manage customer data, reducing the risk of data breaches.
Blockchain in Retail Market Growth Drivers
The global blockchain in the retail market has been driven by several key factors, including increasing adoption of blockchain from the supply chain and retail sector, growing cases of fraudulent activities in the retail sector, increasing need to provide protection against data tempering, rise in the usage of blockchain technology to create a transparent environment, and increasing demand for high efficiency and high speed in the retail sector.
Supply Chain Management: Blockchain can enhance transparency and traceability in the supply chain, allowing retailers and consumers to track products from their origin to the final destination. It can help prevent counterfeiting, ensure ethical sourcing, improve product recalls, and streamline inventory management.
Loyalty Programs: Blockchain technology can be used to create decentralized loyalty programs, where customers can earn and redeem rewards across multiple retailers. This eliminates the need for separate loyalty cards and enables interoperability between different loyalty programs.
Payment and Transactions: Blockchain-based cryptocurrencies and smart contracts can facilitate secure and efficient transactions between retailers and customers. They can eliminate intermediaries, reduce transaction fees, and enable instant cross-border payments.
Product Lifecycle Management: Blockchain can enable the creation of a digital passport for products, capturing their entire lifecycle information, including manufacturing, transportation, maintenance, and disposal. This can enhance sustainability efforts and enable retailers to make more informed decisions.
Blockchain in the Retail Market Restraints
Lack of awareness regarding the blockchain technique is hindering the growth of the blockchain in the retail market globally.
Recent Developments By the Key Players
AlphaPoint, a leading provider of digital asset infrastructure for exchanges, brokerages, payment networks, and banking, has partnered with Wenia, a subsidiary of Bancolombia, to launch its innovative exchange offering.
Blockchain in Retail Market Geography Insight
Geographically, North America has accounted for the largest share of blockchain in the retail market globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed to the existence of a large number of players of blockchain technology in the region and it is also considered the most advanced region in terms of advanced technology adoption. Major multinational retailers such as Walmart and supply chain management/logistics companies such as UPS and FedEx in this region are adopting blockchain technology. Moreover, the Asia-Pacific is expected to witness the fastest growth during the forecast period due to huge investment in the development of blockchain technology to change the business processes in the retail sector.
Blockchain in the Retail Market: Competitive Insight
Some of the key players operating in the global blockchain in the retail market are :
- IBM Corporation
- Amazon Web Services Inc.
- Microsoft Corporation
- Deloitte Touche Tohmatsu Limited
- Oracle Corporation
- Infosys Limited
- Accenture plc
- Intel Corporation
- BigchainDB Gmbh
- Ethereum Foundation
- Earthport PLC
- Factom
- BTL Group Ltd.
- Humaniq
- Tierion
- BlockCypher Inc.
- AlphaPoint
- Bitfury Group Limited
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and obtain key opinions from industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising consumers are also conducted to understand consumer behavior.
The Blockchain in Retail Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2026–2035.
Segments Covered in the Report
- By Provider
- Middleware Provider
- Application Provider
- Infrastructure Provider
- By Application
- Compliance Management
- Identity Management
- Loyalty and Rewards Management
- Payments
- Smart Contracts
- Supply Chain Management
- Others
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
