Blockchain in the supply chain finance market is anticipated to grow at a considerable CAGR of 42.3% during the forecast period. The growth of the market is attributed to factors such as increased transparency, efficiency, and security offered by blockchain technology in supply chain finance. Further advancements in technology and the need for streamlined financial processes are anticipated to fuel the demand for blockchain in supply chain finance solutions. The growth of the market is attributed to various benefits offered by blockchain technology such as Total visibility for all transaction participants. Better control of complex transactions involving multiple parties. Improved logistics and timing. Automated actions reduce the need for manpower. Also, the growing adoption of blockchain technology in a financial institution is anticipated to propel the growth of the market. For instance, in April 2023, Citi India completed its first blockchain-enabled Letter of Credit (LC) transaction on Contour for its client Cummins India Limited (Cummins), a diversified industrial manufacturing company. The transaction is a first for both Cummins and Citi India on Contour, as Citi continues to advance its trade digitization efforts and further enhance the client experience. Contour is a global digital trade finance network, powered by blockchain technology, that enables multiple parties – banks, corporates, and logistic partners – to collaborate seamlessly and securely in real-time on a single platform.
The global Blockchain in Supply Chain Finance market is segmented based on its Product Type and Application. Based on Product Type, the market is segmented into IT Solutions, FinTech, Bank, Consulting, Exchange, and Others. Based on Application, the market is categorized into cross-border payment, trade finance, digital currency, identity management, and others. Among these segments, trade finance is anticipated to hold a prominent market share, driven by the need for secure and efficient tracking of transactions throughout the supply chain.
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Market Coverage
- Market number available for – 2021-2030
- Base year- 2022
- Forecast period- 2023-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Blockchain in Supply Chain Finance Market Segmentation
By Product Type
- IT Solution
- FinTech
- Bank
- Consulting
- Exchange
- Other
By Application
- Cross-border Payment
- Trade Finance
- Digital Currency
- Identity Management
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Amazon Web Services Inc. (AWS)
- Ant Group Co., Ltd. (Ant Financial)
- Baidu, Inc.
- Bitspark Ltd.
- Citigroup Inc. (Citi Bank)
- Distributed Ledger Technologies (DLT)
- eLayaway, Inc.
- HSBC Holdings plc
- Huawei Technologies Co., Ltd.
- JD Digits (formerly JD Financial)
- Nasdaq Linq
- Oklink
- Oracle Corp.
- Qihoo 360 Technology Co. Ltd.
- Ripple Labs Inc.
- Rubix by Deloitte
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