The global blockchain in retail market is anticipated to grow at an exponential CAGR of 78.5% during the forecast period. India is a key contributor to the growth of the global blockchain in retail market. The blockchain supports the transaction of cryptocurrencies such as Bitcoin or Ethereum. Hence, in India, many organizations are adopting the blockchain technology in the retail sector to improve customer relations, supply chain traceability, efficiencies, and cost savings. Local banks are adopting the technology, while 56.0% of businesses are moving to make it a core part of their operations. Government agencies are also trialing blockchain-powered projects, and students throughout India are studying blockchain in big numbers – all from the government’s initiative with the National Blockchain Framework (NBF).
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/blockchain-in-retail-market
Blockchain is already making its presence felt in India’s e-commerce sector. According to India Brand Equity Foundation, India’s e-commerce market is expected to reach $111.0 billion by 2024 and $200 billion by 2026. Blockchain is an e-commerce accelerator because it provides a secure method of storing and sharing payment information. Its distributed ledger technology allows retail companies to collaborate closely, easily, and transparently with all supply chain partners including distributors, retailers, importers, and more. Instead of each player maintaining a database, blockchain provides a unified payment and transaction platform for all participants. Blockchain enhances security and privacy as all transactions are independently processed and verified and cannot be altered or deleted. It also enables faster transactions, with 24/7 processing reducing transaction times. Hence, the rising adoption of blockchain in growing retail industry of India is driving the global blockchain in retail market.
Global Blockchain in Retail Market Report Segment
By Application
- Compliance Management
- Smart Contract
- Supply Chain & Inventory Management
- Transaction Management
- Automated Customer Service
- Identity Management
A full report of Blockchain in Retail Market available @ https://www.omrglobal.com/industry-reports/blockchain-in-retail-market
Blockchain in Retail Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Accenture PLC
· Auxesis Services & Technologies (P) Ltd.
· BigchainDB GmbH
· Bitfury Holdings Inc.
· BitPay Inc.
· Blockchain Foundry Inc.
· BlockVerifyy
· Capgemini SE
· Cisco Systems Inc.
· Cognizant Technology Solutions Corp.
· Coinbase Inc.
Reasons to Buying From us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
Visit more report at
https://www.linkedin.com/pulse/scaffold-technology-market-size-trends-latest-arti-vishwakarma-mlsof/