Market Research Report
Global Blockchain Market in Retail Sector 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||825196|
|Published||Content info||130 Pages
Delivery time: 1-2 business days
|Global Blockchain Market in Retail Sector 2019-2023|
|Published: April 2, 2019||Content info: 130 Pages||
The demand for increased online security will lead the blockchain market in the retail sector to register considerable growth in the forthcoming years. The application of blockchain for identity management helps in reducing identity and transaction fraud in offline and real-world scenarios for easy documentation and identity proofs. This will further lead the blockchain market in the retail sector to witness continuous growth during the forecast period. Technavio's analysts have predicted that the blockchain market in the retail sector will register a CAGR of nearly 81% by 2023.
One of the growth drivers of the global blockchain market in the retail sector is the booming e-commerce industry. The entry of a large number of e-commerce vendors is expected during the forecast period, and they will adopt blockchain solutions to have a competitive advantage in the market, which will drive the growth of the market.
One of the challenges in the growth of the global blockchain market is the need for IT scalability to adopt blockchain technology. The requirement for hardware is increasing the cost for retailers, thus restricting end-users in the retail sector to adopt blockchain.
For the detailed list of factors that will drive and challenge the growth of the blockchain market in the retail sector during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.