It is clear that blockchain technology is here to stay, and it is already changing every industry. In retail, technology is helping a lot with everything from managing the supply chain to making customer loyalty programs better. As more retail sales happen online, stores are finding it hard to change how they deliver products to match how customers search for and buy products, which is always changing. For example, blockchain technology helps retailers store information about their suppliers better, makes payments and contracts easier, and even makes it harder to make fake goods by making it easier to tell if a product is real or not.
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Blockchain In Retail Market Size, Share & Trends Estimation Report By Component (Platform/ Solutions, Services),By Type (Public Blockchain, Private Blockchain, )
1. Sample on Global Blockchain In Retail Market - Global Industry
Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19
Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
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Research Methodology
Methodology/Research Approach
Our research methodology implements a mix of primary as well as secondary research. Our
projects are initiated with secondary research, where we refer to a variety of sources including
trade databases; government published documents, investor presentations, company annual
reports, white papers, and paid databases.
Research Programs/Design
Requirement
collection
Feasibility check of
client requirements
Draft of
deliverables
(iterative step)
Approval from
client
Projectinitiation
Secondary
research
Data collection Primary research
Data validation Data analysis
Cross verification
with panel of
experts
Projectdelivery to
the client
Post-delivery
support
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Market Size Estimation
Post the initial data mining stage, we gather our findings and analyse them, Wearable Patch/ Data
Recordering out relevant insights. These are evaluated across teams and by our in-house
Medical. Along with data mining, we also initiate the primary research phase in which we interact
with companies operating within the market space.
To evaluate the wholeness of the market, we interact (via email or telephone) with players who
are responsible in adding value to the final product. Additionally, we interact with related industries
to understand the external factors that can drive/hamper a market. We also make it a point to
evaluate various economic parameters, which typically, have an impact on the purchasing choices
of individuals as well as companies.
Post these stages, data are cross-verified with the companies that operate in a market space. It
is important for us to study these companies in detail, to understand their existing performance
and future strategies which will define the market in the coming years.
All this data is collected and evaluated by our analysts. Post the preparation of the report and
data analysis, the findings are presented to our in-house experts who then eliminate
discrepancies (if any).
The key players in the industry and markets have been identified through extensive
secondary research.
The industry’s supply chain and market size, in terms of value, have been determined
through primary and secondary research processes.
All percentage shares, splits, and breakdowns have been determined using secondary
sources and verified through primary sources.
Data Source
Secondary Sources
In the secondary research process, various secondary sources, such as D&B Hoovers,
Bloomberg Business Week, and Factiva, have been referred to, for identifying and collecting
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information for this study. Secondary sources included annual reports, press releases, and
investor presentations of companies; whitepapers, certified publications, and articles by
recognized authors; gold standard and silver standard websites; regulatory bodies; trade
directories; and databases.
List of secondary sources include but are not limited to:
Academic Journals
Census.gov
Bloomberg
Company Annual Report
Hoovers
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously Wearable Patch/
Data Reordered to ensure that only validated and authenticated sources are considered. In
addition, data is also mined from a host of reports in our repository, as well as a number of reputed
paid databases. For comprehensive understanding of the market, it is essential to understand the
complete value chain and in order to facilitate this; we collect data from raw material suppliers,
distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals.
Technical data is also gathered from intellectual property perspective, focusing on white space
and freedom of movement. Operation Industry Vertical dynamics with respect to drivers,
restraints, pricing trends is also gathered. As a result, the material developed contains a wide
range of original data that is then further cross-validated and authenticated with published
sources.
Primary Sources
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews
are conducted, on face to face as well as over the phone to validate our findings and assumptions
used to obtain them. Interviewees are approached from leading companies across the value chain
including suppliers, Component providers, domain experts and buyers so as to ensure a holistic
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and unbiased picture of the market. These interviews are conducted across the globe, with
language barriers overcome with the aid of local staff and interpreters. Primary interviews not only
help in data validation, but also provide critical insights into the market, current business scenario
and future expectations and enhance the quality of our reports. All our estimates and forecast are
verified through exhaustive primary research with Key Operation Industry Vertical Participants
(KIPs) which typically include:
Market leading companies
Raw material suppliers
Operating System distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight in to the current market and future expectations
Some of the KIPs are mentioned as below:
Medtronic
Olympus
Otsuka Holdings Co., Ltd.
Etcetera
Others
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is
created customized for each study. Gathered information for market dynamics, Component
landscape, Sensor Type development and pricing trends is fed into the model and analyzed
simultaneously. These factors are studied on a comparative basis, and their impact over the
forecast period is quantified with the help of correlation, regression and time series analysis.
Market forecasting is performed via a combination of economic tools, technological analysis, and
industry experience and domain expertise.
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Econometric models are generally used for short-term forecasting, while technological market
models are used for long-term forecasting. These are based on an amalgamation of Component
landscape, regulatory frameworks, economic outlook and business principles. A bottom-up
approach to market estimation is preferred, with key regional markets analyzed as separate
entities and integration of data to obtain global estimates. This is critical for a deep understanding
of the industry as well as ensuring minimal errors. Some of the parameters considered for
forecasting include:
Market drivers and restrains, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2026
We assign weights to these parameters and quantify their market impact using weighted average
analysis, to derive an expected market growth rate.
Data Triangulation
Contrive Datum Insights also leverages three Industry Verticals of data triangulation approaches
as follows:
Data Triangulation Techniques
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
Data Source Triangulation
• Extracting data and validation
from multiple type of
secondary and primary
sources
Methodology Triangulation
• Combining various
methodologies to validate
data inputs
Theory Triangulation
• Applying different theories to
check credibility of data sets
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Contrive Datum Insights data modeling tool is an in-house developed tool, which is based on the
fundamental Top Down and Bottom Up approach.
Bottom Up Approach
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
After arriving at the overall market size using the market size estimation processes as explained
above, the market was split into several segments and sub segments. To complete the overall
market engineering process and arrive at the exact statistics of each market segment and sub
segment, the data triangulation and market breakdown procedures were employed, wherever
applicable. The data was triangulated by studying several factors and trends from both the
demand and supply sides.
Global
Market
Value
Add up all Country Market Sizes
to Derive Regional Market Size
Market Size for a Country = Add up of Total
Company Revenues
Primary: Demand and Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Release, Journals, Paid Databases,
and A2Z Market Research database
Primary: Demand & Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Releases, Journals, Paid Databases,
and A2Z Market Research database
Bottom-upApproach (Segmental Analysis) Global Market
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Top Down Approach
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
Report Objectives
To define, describe, and forecast the {Keyword} Market by segments, and region
To provide detailed information about the major factors (drivers, restraints, opportunities,
and challenges) influencing the growth of the market
To analyze the sub-segments with respect to individual growth trends, prospects, and
contributions to the total market
To analyze opportunities in the market for stakeholders and provide the competitive
landscape of the market
To forecast the revenues of the market segments with respect to the major regions, such
as North America, Europe, Asia Pacific (APAC), Middle East & Africa and South America.
To profile the key players and comprehensively analyze their recent developments and
positioning in {Keyword} market.
Global Market ($ Million)
Geographical Split
Percent Split for Type and
Application Segments for
Market
Country Split
Global Market Size Through Primaries(Demand and
Supply Side Experts)
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research
Primary: Demand and Supply Side Experts
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research database
Primary: Demand &and Supply Side Experts
Primary: Demand and Supply Side Experts
Secondary: Company Websites, Press Releases, and
News Articles
Top-Down Approach (SegmentalAnalysis) Global Market
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To analyze competitive developments, such as mergers and acquisitions, new product
developments, and Research and Development (R&D) activities, in the market
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Market Overview
Market Synopsis
Blockchain technology is undoubtedly here to stay and is already revolutionizing every sector of
the economy. Technology is proving to be quite helpful in the retail industry, assisting with
anything from supply chain management to improving customer loyalty programs. Retailers are
finding it challenging to adapt how they deliver goods to fit the constantly evolving manner in
which customers browse and purchase products as more and more retail purchases take place
online. Blockchain technology, for instance, facilitates payments and contracts, helps businesses
better maintain information about their suppliers, and even makes it more difficult to
manufacture counterfeit items by making it simpler to determine whether a product is legitimate
or not.
Customers may obtain quick service, track the whereabouts of their things, access information
instantly, and find out when their items will be delivered with blockchain-based retail solutions.
Technology also ensures that goods are authentic, secure, dependable, and of high quality. It also
provides constant product location information to supply chain partners.
The need for solutions in retail is likely to be driven by end users that wish to use blockchain
more, such as supply chain and logistics. Two major factors that are anticipated to open up new
markets for major companies in the logistics industry are speedier and more transparent ways to
conduct business. Additionally, companies in the sector are attempting to grow their business
divisions globally.
Request Sample Copy of Report “Blockchain In Retail Market Size, Share & Trends Estimation
Report By Component Outlook (Platform/ Solutions, Services) By Type Outlook (Public
Blockchain, Private Blockchain) By Application Outlook (Supply Chain Management, Food Safety
Management) By Organization Outlook (Small and Medium-Sized Enterprises, Large Enterprises)
By Region, And Segment Forecasts, 2023 - 2030.”, published by Contrive Datum Insights.
Market Dynamics
Market Trends:
Adoption of Blockchain Technology in Supply Chain and Inventory
Management
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A significant development in the market is the application of distributed ledgers to inventory and
supply chain management. Technology reduces paperwork and administrative costs, increases
transparency and compliance, and facilitates better supply chain traceability. Additionally,
implementing distributed ledger technology in inventory management and the supply chain will
guarantee adherence to business standards and lower the possibility of negative publicity
resulting from supply chain errors.
By maintaining a record of each transaction, the inventory solution for supply chain management
facilitates communication between retailers, fulfillment centers, suppliers, and other partners.
Additionally, end-to-end supply chain tracking is now more precise and transparent thanks to
technology. Important companies are also collaborating to strengthen their position in the market.
Driving Factors:
Improved Transaction Transparency to Aid Market Growth
Fast, secure, and reasonably priced payment processing is made feasible by the
blockchain in retail through the use of encrypted distributed ledger technology. This
eliminates the need for clearing houses or banks to mediate and enables real-time
transaction checking. Digital payments have skyrocketed in the retail sector, supporting
demand for distributed ledger technology. Incorporating technology into the supply
chain can also improve its efficiency, safety, transparency, and ease of tracking. As an
illustration, in December 2020, Loyalty Inc. and New Generation Computing Inc.
introduced a solution for supply chain traceability that enables owners and merchants to record
the chain of custody from the importer of record to the origin. Similarly, in January 2020,
Accenture released a procurement solution. To facilitate simple and secure data sharing, the
system unites the teams of buyers and suppliers on a single platform.
STRATEGIC DEVELOPMENT:
• In July 2019, a new blockchain technology pilot project for Lygon was launched by IBM,
Westpac, and the Scentre Group. Businesses will find it simpler to handle and obtain the bank
guarantees needed for retail property leases thanks to the introduction.
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The Salesforce Blockchain, which enables companies to share data across a reliable network of
partners and third parties, was released by Salesforce.com, Inc. in May 2019. Companies may
use Salesforce Blockchain to create apps, workflow, and a DLT network.
• In July 2019, Nestle developed the distributed ledger system in collaboration with OpenSC, a
blockchain platform. This is not the same as the ongoing work Nestle is doing with the IBM
Food Trust blockchain.
• June 2019: Using blockchain technology, Dixy, the third-largest food retailer in Russia,
enhanced its corporate finance system. Blockchain has been employed by the Moscow-based
retailer to facilitate collaboration between factoring businesses and suppliers. Third parties such
as factoring firms assist companies in obtaining funding by purchasing their invoices at a
reduced price.
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Market Scope
On the basis of By Component, the market has been segmented as follows:
Platform/ Solutions
Services
Other
On the basis of By Type, the market has been segmented as follows:
Public Blockchain
Private Blockchain
Consortium Blockchain
Other
On the basis of By Application, the market has been segmented as follows:
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Supply Chain Management
Food Safety Management
Customer Data Management
Identity Management
On the basis of By Organization Size, the market has been segmented as follows:
Small and Medium-Sized Enterprises
Large Enterprises
On the basis of Companies
IBM Corporation (New York, U.S.)
Oracle Corporation (Texas, U.S.)
Accenture Plc (Dublin, Ireland)
Tata Consultancy Services (Maharashtra, India)
Amazon Web Services, Inc. (Washington, U.S.)
Cisco Systems Inc. (California, U.S.)
Auxesis Services and Technologies (P) Ltd. (Mumbai, India)
Capgemini SE (Paris, France)
On the basis of Geography
NORTH AMERICA
EUROPE
ASIA PACIFIC
MIDDLE EAST AFRICA
SOUTH AMERICA
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting
services to officials at various sectors such as investment, information technology,
telecommunication, consumer technology, and manufacturing markets. CDI assists investment
communities, business executives, and IT professionals to undertake statistics-based accurate
decisions on technology purchases and advance strong growth tactics to sustain market
competitiveness. Comprising of a team size of more than 100 analysts and cumulative market
experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry
knowledge combined with global and country-level expertise.
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