The increasing need for proof of delivery that automatically triggers payments and digital invoicing, eliminating downtime between suppliers and customers, has significantly contributed to the growth of blockchain technology in the retail market. This demand for streamlined and secure transaction processes is driving the adoption of blockchain solutions across the industry.
In terms of organization size, large enterprises dominated the global blockchain in retail market in 2018, and this trend is expected to continue throughout the forecast period. These organizations benefit from blockchain’s ability to enhance supply chain transparency, improve data security, and automate complex processes, making it an attractive solution for large-scale operations.
However, the segment of small and medium-sized enterprises (SMEs) is expected to exhibit the highest growth during the forecast period. The shift from traditional business models to digital ones is a crucial factor driving SMEs to adopt blockchain solutions. As these enterprises increasingly recognize the efficiency, security, and cost-saving benefits that blockchain offers, their adoption rates are likely to rise, contributing to the overall expansion of the blockchain in retail market.
Source: openpr.com
