{"id":8584,"date":"2022-07-20T13:03:31","date_gmt":"2022-07-20T13:03:31","guid":{"rendered":"https:\/\/marylanddailygazette.com\/blockchain-in-retail-market-2022-27-global-industry-trends-share-size-growth-opportunity-and-forecast\/"},"modified":"2022-07-20T13:03:31","modified_gmt":"2022-07-20T13:03:31","slug":"blockchain-in-retail-market-2022-27-global-industry-trends-share-size-growth-opportunity-and-forecast","status":"publish","type":"post","link":"https:\/\/marylanddailygazette.com\/blockchain-in-retail-market-2022-27-global-industry-trends-share-size-growth-opportunity-and-forecast\/","title":{"rendered":"Blockchain in Retail Market 2022-27: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast"},"content":{"rendered":"
Blockchain in Retail Market 2022-27: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast<\/a><\/p>\n The latest research study \u201c<\/span>Blockchain in Retail Market<\/a>: <\/span>Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027<\/b><\/span><\/span>\u201d by IMARC Group, finds that the Global Blockchain in Retail Market size reached US$ 233.5 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3,731.75 Million by 2027 exhibiting a CAGR of 54.50% during 2022-2027.<\/span><\/span><\/p>\n Covid-19 Impact:<\/span><\/p>\n We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.<\/em><\/p>\n Industry Definition and Application:<\/span><\/p>\n Blockchain in retail is a disruptive technology that depends on cryptography to record digital transactions on a distributed ledger in the retail industry. It is an economical solution as it automates the transactions and the interoperability of applications and abolishes the need for administration. It helps businesses track the product back to the supply chain, and identify suppliers, manufacturers and batches to resolve supply chain issues. It allows decentralized identity (DID), which helps retailers verify user identity and data when needed. In recent years, blockchain in retail has gained momentum as it allows employees to focus more on value-added work by streamlining administrative procedures in the back office of retailers<\/span><\/span>.<\/span><\/span><\/p>\n Download free sample brochure: <\/span>https:\/\/www.imarcgroup.com\/blockchain-in-retail-market\/requestsample<\/a><\/span><\/p>\n Interior Design Software Market Trends and Drivers:<\/span><\/p>\n One of the primary factors driving the market is the augmenting demand for transparent transactions in the retail industry to build trust between companies, suppliers, and customers. Additionally, the key players are extensively investing in blockchain-based solutions to ensure reliability, quality, authenticity, and product safety. <\/span><\/span><\/p>\n Other than this, blockchain provides enhanced cryptographic security for its databases and transactions that help in the sustainability of retailers and fraud reduction, thus creating a positive market outlook. Besides this, the escalating utilization of blockchain in retail for online shopping, digital payment, and risk and compliance is propelling the market growth. In line with this, the increasing deployment of blockchain in retail to monitor supply chain transactions for easy traceability of goods is accelerating the product adoption rate. <\/span><\/span><\/p>\n