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Global Blockchain in Retail Market 2019-2024 – Smart Contracts to Dominate the Market – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Blockchain in Retail Market – Growth, Trends, and Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s offering.

The Blockchain in Retail Market is poised to grow at a CAGR of 60.4% during the forecast period 2019-2024. Transparency in retail supply chain, as well as demand for improved customer service, is driving the market growth.

  • Consumer demand for fast, frictionless transactions is leading to sharp increases in mobile and online e-commerce fraud – and their associated costs. According to the 2018 LexisNexis True Cost of Fraud report, the cost of fraud for midsized to large merchants is $3.20 for every $1 of fraud.
  • Scalability and interoperability are the factors necessary for blockchain adoption. This is only possible when industry standards are set, which is at a lagging phase right now. Telecom sector is struggling with mass adoption of blockchain technology.

Key Market Trends

Smart Contracts to Dominate the Market

  • Smart contracts allow computer code to execute on its own when specific conditions are met. In the telecom industry, it is expected to witness significant adoption as it provides scope for automation in their internal operations, like billing, supply chain management, and inventory management.
  • Smart Contracts can help in automating payment process for online as well as offline transactions. It can help to save time and cost for companies by removing the merchant (middleman), who charges extra for authenticating the transaction.
  • Furthermore, in doing so, companies also save money by spending less on auditing and accounting as the process is automated.

Asia-Pacific to Witness the Highest Growth

  • Asia is a major player in the changing retail landscape, owing to the rise in e-commerce startups. China leads the e-commerce market, with Alibaba recently opening a pop-up store in Australia and reflecting the ‘phygital’ trend toward digitally-enhanced offline experiences.
  • To retain the data authenticity generated by retail industry (for instance, customers’ shopping data for personalization), there is a move toward cloud, and hence, its security is of utmost importance.
  • Consumer goods industry is expected to adopt blockchain due to its potential in areas like customer loyalty, retail and supply chain management.
  • In case of frauds, the retailers would be able to react faster and take proactive actions to identify and remove counterfeit products from their supply chain.

Competitive Landscape

The market is fragmented with many existing and new vendors coming up with solutions for small and large, online as well as offline retailers.

Recent Industry Developments

  • July 2019 – A consortium of Australia-based financial services companies teamed up with IBM and shopping center operator Scentre Group to launch a pilot that puts retail lease bank guarantees on a private blockchain.
  • July 2019 – Nestle partnered with OpenSC, a blockchain platform, to develop the distributed ledger system which will be separate and distinct from Nestl’s ongoing participation with IBM Food Trust blockchain.
  • June 2019 – Russia’s third largest food retail firm, Dixy implemented blockchain technology in its corporate finance system. The Moscow-based retailer has deployed blockchain in cooperation between suppliers and factoring firms, which represent third parties that purchase businesses’ invoices at a discount in order to help those businesses to raise funds.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Need for Retail Frauds Prevention and Detection is Driving the Market Growth

4.4 Market Restraints

4.4.1 Lack of Industry Standardisation for Blockchain is Discouraging the Market Growth

4.5 Industry Attractiveness – Porter’s Five Force Analysis

4.5.1 Threat of New Entrants

4.5.2 Bargaining Power of Buyers/Consumers

4.5.3 Bargaining Power of Suppliers

4.5.4 Threat of Substitute Products

4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 By Application

5.1.1 Compliance Management

5.1.2 Smart Contract

5.1.3 Supply Chain and Inventory Management

5.1.4 Transaction Management

5.1.5 Automated Customer Service

5.1.6 Identity Management

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 SAP SE

6.1.2 IBM Corporation

6.1.3 Oracle Corporation

6.1.4 Microsoft Corp.

6.1.5 Amazon Web Services, Inc.

6.1.6 Capgemini SE

6.1.7 Accenture PLC

6.1.8 Provenance Ltd.

6.1.9 Cognizant Technology Solutions Corp.

6.1.10 Reply S.p.A.

6.1.11 BlockVerify

6.1.12 Sofocle Technologies (OPC) Pvt. Ltd.

6.1.13 Modultrade Ltd.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/w89fwg

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Business Wire , 2019-11-28 19:12:18 ,

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NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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