Increased demand for transparency and safety
According to AMR forecasts, the annual growth rate (CAGR) of the global blockchain supply market will be 80.2% from 2018 to 2025.
The key factor is the growing demand for transparency and safety in the supply chain.
By industry, the retail industry is expected to lead in 2018-2025 market revenue.
The healthcare industry is also predicted to have the highest annual growth rate over the same period.
The manufacturing, food, beverage, oil, and gas industries will be the mainstay of the block chain supply chain market.
Geographically, AMR predicts that North America will be the most advanced region in terms of infrastructure and technology, while the Asia-Pacific region will reach an annual growth rate of 90.4%, the highest annual rate.
Blockchain is expected to be introduced in the automotive and aviation industries
Another research by Reportlinker, a market research project, shows that the blockchain market in the automotive and aviation industries is expected to grow to $ 20 billion by 2029.
The annual growth rate is expected to rise by 60.35% from 2019 to 2029.
Also in this survey, the high transparency of the blockchain, the speed of trading, and the high security are the factors for growth.
According to a report this May, the global blockchain market has a value of $ 29 billion, a growth of 88.7% compared to 2018.
According to market research firm Data Corporation, the blockchain market size for manufacturing and services in 2019 is expected to reach $ 653 million and $ 642 million, respectively.
A variety of industries are focusing on blockchain technology and are being introduced.
This trend is expected to accelerate in the future.