Spurred by Digital Transformation and Smart Technologies, Blockchain Revenues to Hit US$10.6 Billion by 2023

Most notably, use cases for tackling endemic problems in the global supply chain are proving particularly popular. Blockchain is being leveraged to resolve complex issues around transparency, efficiency, and cost.  Successful pilots run by the likes of Walmart and Maersk in tracking and monitoring products on a global scale are emerging into commercialized platforms that will be market-ready in the next few months.

Most notably, use cases for tackling endemic problems in the global supply chain are proving particularly popular. Blockchain is being leveraged to resolve complex issues around transparency, efficiency, and cost.  Successful pilots run by the likes of Walmart and Maersk in tracking and monitoring products on a global scale are emerging into commercialized platforms that will be market-ready in the next few months.

The successful transition of these test cases to commercialization in such a global industry will in turn drive efforts to deploy blockchain to address barriers and risks in other sectors too, especially in adjacent industrial markets. The blockchain startup scene is dynamically rising to the challenge, with the brunt of activity concentrated in North America, Europe, and selected Asia-Pacific countries. Some highly innovative companies tackling the supply chain space include Blockfreight, Modum, OriginTrail, Skuchain, Sweetbridge, SyncFab, and T-Mining.

These findings are from ABI Research's market data set on Blockchain and Distributed Ledger Technologies  and Blockchain In the Supply Chain: Reducing Friction for Faster And More Efficient Logistics reports. These reports are part of the company's Blockchain and Distributed Technologies research service, which includes research, data, and Executive Foresights. 

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