The global blockchain in agriculture market is anticipated to attain a CAGR of ~35% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application into product tracking, payment & settlement, governance & management, and others out of which, the governance & management segment is anticipated to hold the largest market share over the forecast period owing to the escalating organization of the agriculture sector and need for the management of fair payments, deals, and services.
The global blockchain in agriculture market is estimated to grow on the back of rapid adoption of blockchain technology among various end-users, such as, BFSI and IT & Telecom. The increasing acceptance of blockchain in the food industry, backed by initiatives taken by major blockchain technology players, is estimated to boost the market growth. For instance, Arc-Net, a leading market player in the blockchain technology conducted a seminar explaining the applications of blockchain in agriculture. Advantages of blockchain in agriculture, such as, raised consumer awareness and full transparency are estimated to further boost the market growth.
On the basis of geographical analysis, the global blockchain in agriculture market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region to garner the largest market share over the forecast period, owing to the presence of major market players, along with higher adoption of blockchain technology.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Growing Need for Organized Agriculture Sector to Propel the Market Growth
With growing urbanization worldwide, there is a rising need for organized agriculture sector, so that businesses can enhance their profits as well as to provide a greater customer experience to individuals. The adoption of blockchain in agriculture provides various advantages, such as, security, availability of complete information, tracing deals, and proper management, which helps to align the business functions. This is estimated to boost the market growth.
However, the lack of organized infrastructure in the agriculture sector is expected to operate as key restraint to the growth of the global blockchain in agriculture market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global blockchain in agriculture market which includes company profiling of SAP America, Provenance Limited, OriginTrail d.o.o., AMBROSUS Inc., Advanced Research Cryptography Ltd., Microsoft, TE-FOOD International GmbH., IBM, Full Profile Pty Ltd, Chainvine, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global blockchain in agriculture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Download/Request Sample Copy of Strategic Report: https://www.researchnester.com/sample-request-3416
In the global workforce, agriculture is the sole industry that is responsible for providing jobs to 40% of the population.
And the fact is that agriculture is now modernizing itself by using blockchain technology.
Moreover, this technology is strengthening the backbone of companies developing blockchain solutions to bear any risk or crypto-encrypted transactional load.Blockchain In Agriculture Blockchain has already entered many industries and businesses like healthcare, real estate, mobile economy, and finance.
Let's pick the example of Australian-based Blockgrain, an agriculture agency which has adopted blockchain to fasten the operations with security.
The startup currently is enjoying the real-time transaction facility along with merchant/broker access to get maximum exposure of market and ROI.
Ease of operational traceabilityChoosing the best blockchain development companies would be a boon as they will help you get the right agriculture solution which has the potential to handle the risk and turbulence of counterfeit products that are often delivered to the consumers.
