Blockchain to Transform Retail with Asset Tracking Revenues Reaching $4.5 Billion by 2023
139% Average Annual Growth between 2019 and 2023
Hampshire, UK - March 26, 2019 (Investorideas.com Newswire) New research by Juniper Research found that annual revenues from blockchain retail asset tracking will leap to $4.5 billion by 2023. While anything from gemstones to cars and healthcare can be tracked on blockchain, retail is a hotbed for the technology. Blockchain's versatility offers retailers transparency in the supply chain, customer loyalty management and operational efficiencies, among other benefits; leading to faster adoption than in other sectors.
Juniper's new research, Blockchain for Land Registry & Asset Tracking: Opportunities, Challenges & Forecasts 2019-2030, argues that retailers can opt for different deployment approaches. It pointed out that some retailers (such as Alibaba or JD.com) are launching their own BaaS (Blockchain-as-a-Service) platforms, while others (including Walmart) have opted to partner with specialist providers. Juniper forecasts that the number of retailers using blockchain in the US alone will grow by over 7,500% between 2018 and 2023 to reach nearly 15,000 by the end of 2023.
For more market insights, download the free whitepaper: 'How Blockchain is Transforming Retail'.
Leading Asset Tracking Vendors
Juniper assessed 17 blockchain vendors, scoring their level of agility, presence and innovation, on the complexity of their blockchain solutions and prospects in the field. It ranked the 5 leading vendors in the space as follows:
- Digital Asset
- Applied Blockchain
The research stated that IBM has established itself as the leading provider of blockchain technology; combining agnostic blockchain solutions, extensive commercial deployments and high-profile partnerships. Meanwhile, Digital Asset has built a solid customer base for which it develops tailored real-world blockchain application solutions, especially in tracking and settling financial assets.
Spending for Blockchain Land Registry Gains Momentum
Juniper forecasts that countries will spend over $72 million on blockchain for land registry by 2023. Over $38 million is expected to be spent by European registries by that time; Sweden's Lantmäteriet and HM Land Registry in the UK have already invested significantly in trial solutions.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/