What is Blockchain in Agriculture and Food Market?
The block chain technology enables the traceability of information in the food supply chain. This helps to improve food safety. It provides a secure way of storing and managing data, that facilitates the development and use of data-driven innovations for smart farming and smart index-based agriculture insurance. Further, the technology can track provenance of food and thus helps create trustworthy food supply chains and build trust between producers and consumers. Block chain technology also allows timely payments between stakeholders which is triggered by data changes appearing in the block-chain.
The market study is being classified, by Application (Product traceability, tracking, and visibility, Payment and settlement, Smart contracts and Governance, risk and compliance management) and major geographies with country level break-up.
IBM (United States), Microsoft (United States), SAP-SE (Germany), Ambrosus (Switzerland), Arc-net (Ireland), OriginTrail (Slovenia), Ripe.io (United States), VeChain (China), Provenance (United Kingdom), ChainVine (United Kingdom), AgriDigital (Australia) and BlockGrain (Australia) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockchain in Agriculture and Food market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Blockchain in Agriculture and Food market by Type, Application and Region.
On the basis of geography, the market of Blockchain in Agriculture and Food has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase in Demand for Supply Chain Transparency
- Benefits Such as Enhancements in Decision Making Capabilities
- Growing Adoption of Block chain Technology
- Gap in Capacity of Technology and Supply Chain Requirement
- Increasing Concerns for Food Wastage
- Growing Investments Small and Medium Sized Enterprises
- Not Being Able to Capture Data Pertaining to a Number of Untrusted Participants
In November 2019, KPMG in Australia, China and Japan has launched KPMG Origins which is a block chain-based ‘track and trace’ platform to support industries including agriculture, resources, manufacturing and financial services.
Key Target AudiencePlatform provider, Service provider, Government associations, Research organisations, Enterprise software vendors and Others
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