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TMCNet:  The blockchain market in the retail sector will register a CAGR of nearly 81% by 2023

[May 09, 2019]

The blockchain market in the retail sector will register a CAGR of nearly 81% by 2023

NEW YORK, May 9, 2019 /PRNewswire/ -- About this market
The demand for increased online security will lead the blockchain market in the retail sector to register considerable growth in the forthcoming years. The application of blockchain for identity management helps in reducing identity and transaction fraud in offline and real-world scenarios for easy documentation and identity proofs. This will further lead the blockchain market in the retail sector to witness continuous growth during the forecast period. Analysts have predicted that the blockchain market in the retail sector will register a CAGR of nearly 81% by 2023.

Read the full report: https://www.reportlinker.com/p05770944/?utm_source=PRN

Market Overview
Booming e-commerce industry
One of the growth drivers of the global blockchain market in the retail sector is the booming e-commerce industry. The entry of a large number of e-commerce vendors is expected during the forecast period, and they will adopt blockchain solutons to have a competitive advantage in the market, which will drive the growth of the market.

Need for IT scalability to adopt blockchain technology
One of the challenges in the growth of the global blockchain market is the need for IT scalability to adopt blockchain technology. The requirement for hardware is increasing the cost for retailers, thus restricting end-users in the retail sector to adopt blockchain.
For the detailed list of factors that will drive and challenge the growth of the blockchain market in the retail sector during 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Read the full report: https://www.reportlinker.com/p05770944/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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