Press Release / Technology / Blockchain in Retail Market 2019 Business Trends, Size, Segments and Profit Growth by Forecast to 2024

Blockchain in Retail Market 2019 Business Trends, Size, Segments and Profit Growth by Forecast to 2024

Blockchain in Retail Market Synopsis:
The blockchain technology is a decentralized method of maintaining records in blocks. The information is encrypted using cryptography and allows information to be distributed but not copied.
The retail industry has undergone various changes after the boom of the Internet and ecommerce to sustain. The global Blockchain in Retail Market report by Market Research Future (MRFR) outlines the various challenges faced by the retail industry and the use of blockchain to overcome them.
Competitive Landscape:
Key market players include Cisco Systems Inc., SAP SE, Tata Consultancy Services Limited, Blockpoint Systems, R3, Microsoft Corporation, Amazon Web Services, BlockApps, Cegeka, Auxesis Group, Oracle Corporation, Coin Sciences Ltd., Bitfury USA Inc., IBM Corporation, and Cognizant.
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Segmentation:
The global blockchain in retail market is segmented by type, application, organization size, and platform.

By type, it is segmented into public, private, and consortium.
By application, it is segmented into database management, compliance management, payment management, inventory management, loyalty and rewards management, fraud management, and auditing.
By organization size, it is segmented into large enterprises and SMEs.
By platform, it is segmented into Hyperledger Fabric, Ripple, Ethereum, R3 Corda, Bitcoin, Quorum, Multichain, and others.

Regional Analysis:
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are major regions studied in the global blockchain in retail market report.
North America holds the largest market share owing to a large number of retail chains operating in the U.S., Canada, and Mexico. Convenience and rapid customer service can push the adoption rate of the technology and spur market demand.
Europe has assumed the second position in the global market due to adoption of cryptocurrencies for trading across borders. Acceptance of the technology by retail chains for tracking goods can be beneficial to the market. This is exemplified by adoption of blockchain solution created by IBM Corporation for Carrefour, a European retail giant.
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Industry News:
Target, one of the biggest U.S. retail chains, has developed ConsenSource, a blockchain solution for streamlining its supply chain in 2019.
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