Blockchain Supply Management System allows supply chain companies to conduct transactions directly and without third parties. Management of processes involved in the supply chain from product development to finished goods from one point to another,w including sourcing, procurement, production, and logistics of raw materials is known as supply chain management (SCM). Blockchain technology helps companies in tracking various types of transactions more efficiently and transparently. Further, this technology aimed to help companies to keep a track of price, location, quality, date, and other relevant information for effective management of the supply chain.
|Unit||Value (USD Million)|
|Key Companies Profiled||IBM (New York), Deloitte (England), ConsenSys (Paris), Maersk (United States), Amazon (Seattle), Huawei Technologies (China), Accenture, Plc. (Ireland), Oracle Corporation (Texas), SAP SE (Germany) and Circulor (England)|
This growth is primarily driven by Recent Technological Advancements such as Artificial Intelligence and Machine Learning, Rapid Growth in Manufacturing Sector and Rising Demand for Transparency in Supply Chain Management.
Globally, a noticeable market trend is evident The surge in demand for greater security in supply chain transactions Major Players, such as IBM (New York), Deloitte (England), ConsenSys (Paris), Maersk (United States), Amazon (Seattle), Huawei Technologies (China), Accenture, Plc. (Ireland), Oracle Corporation (Texas), SAP SE (Germany) and Circulor (England), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Blockchain Supply Management System is a fragmented market due to the presence of various players. The players are focusing on enhancing blockchain supply management systems such as enhancing traceability and transparency among others. Further large corporations and startups have also started exploring the uses of blockchain technology in various other sectors besides financial services and the rising popularity of blockchain technology is the factor contributing to the market growth. The companies are also planning strategic activities such as partnerships, mergers, and acquisitions which will help them to sustain in the market.
Key Developments in the Market:
In November 2020, ConsenSys acquired Truffle Suite, the world’s most used blockchain developer tool. This acquisition further aimed to provide consumers/ users with to access built-in smart contract compilation, linking, deployment, and binary management, thus this strengthened the company’s offerings and customer base.
In December 2020, IBM launched blockchain for high-end textiles for transparency of the supply chain. It allows users to track the entire spectrum of fabric manufacturing, from the receipt of raw material through cleaning, weaving, spinning, distribution, quality assurance, and sales, thus this enhanced the company’s market presence.
The surge in demand for greater security in supply chain transactions
Market Growth Drivers:
Recent Technological Advancements such as Artificial Intelligence and Machine Learning, Rapid Growth in Manufacturing Sector and Rising Demand for Transparency in Supply Chain Management
Lack of skilled workforce and Immutability of data in blockchain technology
Stringent regulatory framework and High cost related to maintenance and implementation of blockchain technology
Technological advancements in blockchain supply management systems such as Monitor advancements
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Blockchain Supply Management System Market
- Analysis about New Entrants in Blockchain Supply Management System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Blockchain Supply Management System Study Sheds Light on
The Blockchain Supply Management System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blockchain Supply Management System industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain Supply Management System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.