What Has Been the Progress and Growth of the Blockchain Supply Chain Market in Recent Years?
The blockchain supply chain market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of the blockchain supply chain has experienced significant growth. An increase from $2.04 billion in 2024 to $3.27 billion in 2025 is anticipated, reflecting a compound annual growth rate (CAGR) of 60.1%.
Factors contributing to the growth in the historical period include the proliferation of counterfeit products, increased application in the automotive industry, expanding use of blockchain for managing inventory, the emergence of blockchain in logistics, and heightening demand for robust supply chains.
What Is The Expected Growth In The Blockchain Supply Chain Market Size Evolve over the Forecast Period?
The blockchain supply chain market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for blockchain supply chain is predicted to experience substantial expansion in the coming years, increasing to $21.29 billion in 2029 at a compound annual growth rate (CAGR) of 59.8%.
The anticipated growth during this period can be linked to the emphasis on sustainable and ethical sourcing, risk management, reduction of operational expenses, the requirement for real-time monitoring of supply chain activities, and enhanced supplier relationship management. Prime trends during the forecast period comprise the movement towards decentralized supply chain models, anti-counterfeit solutions, the fusion of AI and blockchain technology, application of digital twins, and advancements in blockchain security.
What Main Forces Are Fueling Expansion In The Blockchain Supply Chain Market?
The upward surge in incidents related to cyber-attacks is projected to push forward the expansion of the blockchain supply chain market. Cyber-attacks, which consist of deliberate attempts at manipulating digital systems to steal, alter, or destroy data, are commonly traced back to weaknesses in digital systems, inadequate security protocols, and human errors. These are regularly exploited by harmful entities seeking unauthorized admission or disruption. The application of blockchain technology offers a distributed and unchangeable record to bolster supply chain security against cyber-attacks, ensuring that all transactions are securely documented and resistant to falsification. For instance, the 2023 Data Breach Report released by the Identity Theft Resource Center, a non-profit organization based in the US, divulged that newly exposed cyber vulnerabilities skyrocketed by 1,620 percent in the first three-quarters of 2023, escalating to 86 from merely 5 in the entire year of 2022. Thus, the escalating incidents of cyber-attacks are fueling the growth of the blockchain supply chain market.
What Are The Primary Segments In The Global Blockchain Supply Chain Market?
The blockchain supply chainmarket covered in this report is segmented –
1) By Component: Services, Platform
2) By Application: Payment And Settlement, Product Traceability, Counterfeit Detection, Smart Contracts, Risk And Compliance Management, Other Applications
3) By Industry Vertical: Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Logistics, Oil And Gas, Other Industry Verticals
Subsegments:
1) By Services: Consulting Services, Integration Services, Maintenance and Support Services, Training and Education Services
2) By Platform: Blockchain-as-a-Service (BaaS), Supply Chain Management Platforms, Smart Contract Platforms, Distributed Ledger Technology (DLT) Solutions
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What Emerging Trends Are Influencing The Growth Of The Blockchain Supply Chain Market?
Leading businesses in the blockchain supply chain market are pioneering progressive technologies such as hyperledger in order to increase the transparency, security, and efficiency of supply chain management. Hyperledger, an open-source blockchain framework, aids the creation of enterprise-level blockchain applications by providing an adjustable infrastructure for safe and transparent dealings. As an example, in October 2022, BASF SE, a German Chemical corporation, unveiled Seed 2 Sew, a blockchain-based system. This platform leverages hyperledger technology to permit all entities in the cotton value chain to digitally document and authorize each progression, thereby bridging the historical information gap between the farmers and the textile industry. This initiative bolsters sustainability and decreases the carbon emissions associated with producing cotton clothing.
Who Are the Key Players In The Blockchain Supply Chain Market?
Major companies operating in the blockchain supply chain market are:
• Walmart Inc.
• Amazon.com Inc.
• Microsoft Corporation
• Alibaba Group Holding Limited
• Huawei Technologies Co. Ltd.
• Siemens AG
• Deloitte Touche Tohmatsu Limited
• Accenture plc
• International Business Machines Corporation
• Oracle Corporation
• Honeywell International Inc.
• SAP SE
• Salesforce Inc.
• Tata Consultancy Services Limited
• Hewlett Packard Enterprise Company
• Infosys Limited
• Nippon Express Co. Ltd.
• Wipro Limited
• TIBCO Software Inc.
• VeChain
• Chronicled Inc.
• Guardtime
• Omnichain Inc.
• Auxesis Group
• SyncFab Co.
• Provenance
What Is The Most Dominant Region In The Blockchain Supply Chain Market?
North America was the largest region in the blockchain supply chain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
