Growing interests and increasing applications of the blockchain technology in the retail industry is expected to drive the blockchain in retail market
Loyalty and rewards management segment is expected to grow at the highest CAGR during the forecast period
The loyalty and rewards management segment is expected to grow at the highest CAGR during the forecast period. Loyalty and rewards management is an integral part of the sales services that the retailers are expected to provide to their customers. This has become easier and cost effective with the help of the blockchain technology. Traditional solutions create complications while managing the information related to purchase dates, warranties, and loyalty and reward points status. The blockchain technology can be successfully implemented by retailers for managing documents, maintaining loyalty records, tracking account inactivity. This can help them reduce redemption rates, customer service and marketing costs and eventually create more value for the consumers, and the investors. Hence, the adoption of blockchain technology to manage loyalty and rewards in the retail sector is increasing.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to grow at the highest rate during the forecast period, due to the growing number of blockchain startups and increasing venture funding activities in the blockchain technology solutions for the retail industry aimed at transforming the various business processes and transactions. The key financial hubs, and massive shipping and trading markets, including Hong Kong and Singapore, provide huge opportunities for the adoption of the blockchain in the retail industry. North America, being the early adopter of innovative technologies, is projected to hold the largest market size in the global blockchain in retail market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the blockchain in retail marketplace.
- By company type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%
- By designation: C-Level: 60%, Director Level: 25%, Others: 15%
- By region: North America: 35%, Europe: 25%, APAC: 20%, MEA: 10%, Latin America: 10%
Major blockchain technology vendors include, IBM (US), SAP (Germany), Microsoft (US), Oracle (US), AWS (US), Bitfury (the Netherlands), Auxesis Group (India), Cegeka (the Netherlands), BTL (Canada), Guardtime (Estonia), CoinBase (US), loyyal (US), Sofocle (India), BigchainDB (Germany), RecordsKeeper (Spain), BitPay (US), Abra (US), Reply (Italy), Provenance (UK), ModulTrade (UK), Blockverify (UK), OGYDocs (Israel), Warranteer (Israel), and Blockchain Foundary (Singapore). The study includes in-depth competitive analysis of these key players in the blockchain in retail market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The market study covers the blockchain in retail market across segments. It aims at estimating the market size and the growth potential of this market, across segments, such as provider, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blockchain in retail market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
What is the estimated value of the Blockchain in Retail Market?
What is the growth rate of the Blockchain in Retail Market?
What is the forecasted size of the Blockchain in Retail Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 126 |
| Published | June 2018 |
| Forecast Period | 2018 - 2023 |
| Estimated Market Value ( USD | $ 80 million |
| Forecasted Market Value ( USD | $ 2339.5 million |
| Compound Annual Growth Rate | 96.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
Table of Contents
Executive Summary
Companies Mentioned
- AWS
- Abra
- Auxesis Group
- BTL Group
- Bigchaindb
- Bitfury
- Bitpay
- Blockchain Foundry
- Blockpoint
- Blockverify
- Cegeka
- Coinbase
- Guardtime
- IBM
- Loyyal
- Microsoft
- Modultrade
- OGY Docs
- Oracle
- Project Provenance
- Recordskeeper
- Reply
- SAP
- Sofocle Technologies
- Warranteer Digital
