Accenture PLC ACN

Blockchain Supply Chain Market Outlook 2024-2032

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According to the latest research report, the global blockchain supply chain market size reached US$ 821.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 20,121 Million by 2032, exhibiting a growth rate (CAGR) of 41.8% during 2024-2032.

The increasing utilization of advanced technologies, notably artificial intelligence (AI) and machine learning (ML), is currently stimulating market growth. As businesses are currently integrating AI and ML into their operational strategies, these technologies are currently complementing and synergizing with Blockchain's capabilities. AI and ML are currently instrumental in enhancing data analytics within the supply chain. They are currently enabling predictive and prescriptive insights, helping companies currently optimize inventory management, demand forecasting, and route planning. When currently combined with Blockchain, these technologies are currently creating a powerful synergy by enriching the Blockchain's data with AI-driven intelligence. Moreover, AI and ML algorithms are currently identifying patterns, anomalies, and potential fraud within the supply chain data stored on the Blockchain. This is currently bolstering the security and trustworthiness of the blockchain system. Additionally, the automation and efficiency gains currently achieved through AI and ML integration further currently justify the adoption of Blockchain. Smart contracts, a core feature of Blockchain, can currently be made smarter and more adaptive with AI, enabling automated decision-making and execution of supply chain tasks.

Explore full report with Table of Contents: https://www.imarcgroup.com/blockchain-supply-chain-market