The Business Research Company’s Blockchain In Agriculture And Food Supply Chain Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, February 24, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:
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The global blockchain in agriculture and food supply chain market size is expected to grow from $128.87 million in 2020 to $189.48 million in 2021 at a compound annual growth rate (CAGR) of 47%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $886.18 million in 2025 at a CAGR of 47.1%. North America was the largest region in the blockchain in blockchain in agriculture market in 2020. The regions covered in the global blockchain in agriculture and food supply chain market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The use of blockchain with IoT is among blockchain in agriculture and food supply chain industry trends that are followed by companies in the market. Companies are using blockchain to secure data in IoT devices. IoT involves a system of devices that can collect, transfer, and store data over a wireless network. The use of blockchain with IoT devices enables smart devices to exchange data and other financial transactions in a scalable, private, and reliable manner. Blockchain technology with IoT further supports businesses to share and access data without the need for central control and management. For instance, according to an article published in Thales in 2019, the use of blockchain in IoT devices has doubled and a majority of the organization plans to consider blockchain technology shortly.
The major players covered in the global blockchain in agriculture and food supply chain market are IBM, Microsoft, SAP-SE, Ambrosus, Arc-net, OriginTrail, Rip.io, Provenance, ChainVine, AgriDigital.
Blockchain In Agriculture And Food Supply Chain Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides blockchain in agriculture and food supply chain market overview, forecast blockchain in agriculture and food supply chain market size and growth for the whole market, blockchain in agriculture and food supply chain market segments, and geographies, blockchain in agriculture and food supply chain market trends, blockchain in agriculture and food supply chain market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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