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Blockchain for Supply Chain Traceability Market Share

Report ID: GMI10586
Published Date: Aug 2024
Report Format: PDF

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Blockchain for Supply Chain Traceability Market Share

IBM Corporation and Microsoft Corporation dominate the market with around 16% market share. IBM's Blockchain Platform is an enterprise-grade solution that simplifies the development, governance, and operation of multi-institution business networks. Designed for complex supply chains, it offers scalability, security, and flexibility. A key offering, IBM Food Trust, enhances transparency and efficiency in the food supply chain. By creating a secure, shared record of food provenance, it reduces food fraud, improves safety, and minimizes waste.

Microsoft's Azure Blockchain Services is a managed platform that streamlines the development, deployment, and operation of blockchain networks. Supporting multiple blockchain protocols, it includes built-in governance and management tools. Microsoft focuses on integrating blockchain with IoT to enhance supply chain visibility and traceability. This integration enables real-time tracking of goods, condition monitoring, and automated compliance checks.

Blockchain for Supply Chain Traceability Market Companies

Major players operating in the blockchain for supply chain traceability industry are:

IBM Corporation
Microsoft Corporation
SAP
Oracle Corporation
Accenture PLC
VeChain
Amazon Web Services (AWS)
Infosys Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of blockchain for supply chain traceability reached USD 2.1 billion in 2023 and is set to register a CAGR of over 31.9% between 2024 and 2032, backed by the increasing demand for transparency and accountability in supply chains.

The platform segment accounted for a market share of over 63% in 2023, due to the increasing focus on regulatory compliance, along with stricter regulations on product safety and ethical sourcing.

North America had a significant market share of around 43% in 2023, particularly in the pharmaceuticals and food sectors, companies are increasingly adopting blockchain solutions to ensure product safety and authenticity.

IBM Corporation, Microsoft Corporation, SAP, Oracle Corporation, Accenture PLC, VeChain, Amazon Web Services (AWS), and Infosys Ltd.