The Blockchain in Retail Market size is expected to grow from USD 0.31 billion in 2023 to USD 2.62 billion by 2028, at a CAGR of 52.92% during the forecast period (2023-2028).
The increasing demand for transparency in the retail supply chain, the fast, frictionless transactions, and the demand for improved customer service are driving the blockchain in retail market growth.
The market is fragmented, with many existing and new vendors developing solutions for small and large online and offline retailers. Moreover, the market players continuously indulge in new and innovative product launches for the retail segment, coupled with partnerships, mergers, and acquisition activities to enhance their market presence and product portfolio. Some key players include Microsoft Corporation, SAP SE, Oracle Corporation, and IBM Corporation.
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