The Blockchain Technology in Supply Chain Management Market Size, Share, Growth Report, 2034

The Blockchain Technology in Supply Chain Management Market: Industry Perspective

The global the blockchain technology in supply chain management market size was worth around USD 2.74 Billion in 2024 and is predicted to grow to around USD 130.39 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 47.3% between 2025 and 2034.

The report analyzes the global the blockchain technology in supply chain management market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the the blockchain technology in supply chain management industry.

Request Free Sample

Blockchain Technology in Supply Chain Management Market: Overview

The blockchain is the record of a digital database of absolute and validated transactions. Blockchain is an open ledger in which every transaction on the network is recorded and is made available for all the entities or participants involved to see and validate. This ensures transparency and eliminates communication via mail or any other platform. The need to eliminate intermediaries is increasing which has led to automating supply chain operations. Instead of coins, supply chain blockchains tokenize a variety of transaction-related data, creating unique and readily verifiable identifiers for purchase orders, inventory units, bills of lading, etc.

Blockchain technology has huge scope and is set to help procurement organizations in all industries lower their costs and improve performance by increasing security and visibility to tracking complex variables related to sustainability and proper sourcing. This technology has dominated the overall blockchain supply chain market in 2021 and is anticipated to remain dominant during the forecast period, due to an increase in the adoption of blockchain platforms to streamline the supply chain processes.

The blockchain is a decentralized, digitalized, public ledger of all cryptocurrency transactions. Recent transactions are recorded and arranged in a chronological order which allows market participants to keep a track of the digital currency transactions without maintaining any record. This technology was mainly innovated for Bitcoin, a virtual currency introduced in 2008. Bitcoin was introduced to make digital transactions possible without involving any trusted intermediary. It was first traded or exchanged in 2010 with a value of 0.39 USD per Bitcoin and in Dec 2017, it was recorded to 17,549.67 USD. With the application of blockchain technology, new emerging business trends are emerging such as crowdfunding, supply chain auditing, decentralized file storage on the internet, anti-money laundering, stock trading, sell and purchase of renewable energy generated by neighborhood microgrids, and much more. Many businesses other than stock exchange and financial institutions such as field of music, diamond, insurance, and the Internet of Things (IoT) devices have adopted this technology because of it serving as an open electronic ledger and its has distributed database.

Key Insights

• As per the analysis shared by our research analyst, the global the blockchain technology in supply chain management market is estimated to grow annually at a CAGR of around 47.3% over the forecast period (2025-2034).
• Regarding revenue, the global the blockchain technology in supply chain management market size was valued at around USD 2.74 Billion in 2024 and is projected to reach USD 130.39 Billion by 2034.
• The the blockchain technology in supply chain management market is projected to grow at a significant rate due to rising adoption of decentralized ledger technology, increasing demand for transparency and traceability, enhanced security against fraud, and improvements in operational efficiency.
• Based on Offering, the Platform segment is expected to lead the global market.
• On the basis of Type, the Public segment is growing at a high rate and will continue to dominate the global market.
• Based on the Application Providers, the Middleware Providers segment is projected to swipe the largest market share.
• By Application, the Asset Tracking segment is expected to dominate the global market.
• In terms of Organization Size, the SMEs segment is anticipated to command the largest market share.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Request Free Sample

Blockchain Technology in Supply Chain Management Market: Growth Drivers

The increasing popularity of blockchain technology in retail and SCM

A growing number of retailers are recognizing the potential of blockchain technology. This industry witnesses several transactions each day, along with the exchange of information daily. The information may include authentication process information, procurement data, sales, fees, certifications, approvals, and disbursements. The amalgamation of blockchain technology with an SCM system avoids data manipulation, which is expected to be one of the biggest driving factors for the overall growth of the blockchain market.

Blockchain technology is transforming the face of supply chain management market with a torrid pace. Some of the key benefits of the supply chain with blockchain technology are reduced delays from paperwork, fast issue identification, minimized courier cost, improved inventory management, and reduced fraud and errors. Challenges related to supply chain which have been overcome by the adoption of blockchain technology are visibility and data consolidation, tracking, transparency, and real-time issue resolution. Some of the supply chain management companies that have integrated the blockchain technology for their supply chain management system are Walmart, Maersk, British Airways, UPS, FedEx, and moreetc. Storj is a company that is presently beta-testing the concept of developing cloud storage based on blockchain technology to improve security by decreasing users dependency on a single storage provider’s centralized system. ProofofExistance is another non-financial company to utilize blockchain (distributed ledger technology) to store encrypted information which enables transaction that cannot be replicated. Big tech giants are integrating big data and IoT with blockchain technology which copes up the permission-less, fully transparent, and peer-to-peer distributed ledger which securely permits multiple transactions to occur between different participants.

Blockchain Technology in Supply Chain Management Market: Restraints

Uncertain regulatory status and standards

Regulatory uncertainty is among the top barriers to the adoption of blockchain implementations across global industries. With technological developments, regulatory bodies need to understand what the current regulations system lack and how these can impact the overall technology-enabled applications. Blockchain technology is still at a developing stage, which raises a number of questions and concerns related to security and authenticity at all levels. Owing to issues such as standardization, the regulatory status of blockchain technology remains uncertain.

Rising cryptocurrency market capital and Initial Coin Offering (ICO), faster transactions, reduced total cost of ownership are some of the major factors which are catering this market’s growth. Furthermore, increasing adoption of Blockchain as a Service (BaaS), and simplifying business processes & creating transparency and immutability are another major market driving factors. Besides, of these several advantages, there are some hurdles in the adoption of blockchain technology which are: difficult to control, interoperability of one blockchain with another blockchain, limited scaling of the blockchain, and risk of privacy & security. Additionally, from future aspect some factors which are anticipated to uplift the market demand are transforming international trade & supply chain and a new breed of programmable blockchain platforms. However, uncertain regulatory status and lack of a common set of standards are hindering the market expansion.

The Blockchain Technology in Supply Chain Management Market: Segmentation Analysis

The global the blockchain technology in supply chain management market is segmented based on Offering, Type, Application Providers, Application, Organization Size, and region.

Based on Offering, the global the blockchain technology in supply chain management market is divided into Platform and Services.

On the basis of Type, the global the blockchain technology in supply chain management market is bifurcated into Public, Private, Hybrid and Consortium.

By Application Providers, the global the blockchain technology in supply chain management market is split into Middleware Providers, and Infrastructure Providers.

In terms of Application, the global the blockchain technology in supply chain management market is categorized into Asset Tracking, Counterfeit Detection, Payment and Settlement, Smart contracts, Risk and Compliance Management, and Others.

By Organization Size, the global The Blockchain Technology in Supply Chain Management market is divided into SMEs and Large enterprises.

The Blockchain Technology in Supply Chain Management Market: Report Scope

Recent Developments

• In October 2018, Oracle Blockchain Applications Cloud was launched to help customers increase trust and provide agility in transactions across their business networks.
• In September 2018, NITI Aayog and Oracle signed a Statement of Intent (SoI) to pilot a real drug supply chain using blockchain distributed ledger and IoT software in order to fight the growing problem of counterfeit drugs in India.

Blockchain Technology in Supply Chain Management Market: Regional Landscape

North America leads the global market as it is an early adopter of blockchain technology and is home to the greatest number of blockchain startups worldwide. The presence of strict regulations and trade agreements related to the supply chain across the region is also a driver of the blockchain supply chain here. Asia-Pacific Region is expected to be a huge contributor to the fastest-growing region in the forecast period. The increased shift of Asia-Pacific enterprises toward slimmer and agile supply chains with end-to-end visibility by the adoption of the latest technologies is also one of the biggest drivers of blockchain supply chain software and services in the region.

The Blockchain Technology in Supply Chain Management Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the the blockchain technology in supply chain management market on a global and regional basis.

The global the blockchain technology in supply chain management market is dominated by players like:

• IBM (US)
• Microsoft (US)
• SAP (Germany)
• AWS (US)
• Oracle (US)
• Huawei (China)
• Guardtime (Estonia)
• TIBCO Software (US)
• Bitfury (The Netherlands)
• Interbit (Canada)
• Auxesis Group (India)
• VeChain (China)
• Chainvine (UK)
• Digital Treasury Corporation (China)
• Datex Corporation (US)
• OpenXcell (US)
• Algorythmix (India)
• BlockVerify (UK)
• Applied Blockchain (UK)

The global the blockchain technology in supply chain management market is segmented as follows;

By Offering

• Platform
• Services

By Type

• Public
• Private
• Hybrid and Consortium

By Application Providers

• Middleware Providers
• and Infrastructure Providers

By Application

• Asset Tracking
• Counterfeit Detection
• Payment and Settlement
• Smart contracts
• Risk and Compliance Management
• and Others

By Organization Size

• SMEs
• Large enterprises

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America