Global Blockchain in Agriculture market was estimated at USD 254.12 million in 2021, and is anticipated to reach USD 3441.21 million by 2028, growing at a CAGR of 45.1%
A blockchain is a digital transaction ledger, prolonged by a network of multiple computing machines that are not depending on a trusted third party. Individual transaction data files (block) are managed through specific software platforms that allow the data to be transmitted, processed, stored, and represented in a human-readable form.
Players Covered In Blockchain In Agriculture Market Are:
IBM Corporation (US),TE-FOOD International GmbH (Europe),Microsoft (US),ACR-NET (Ireland),Ambrosus (Switzerland),Origin Trail (Slovenia),Provenance (UK),AgriDigital,GrainChain,CargoChain Ltd,Farm2Kitchen,Agri10X,VeChain Foundation,Skuchain,FCE Group AG,Bext360 And Others Major Players.
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Blockchain Technology in Agriculture Sector
Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations. According to the FAO, about one-third of the food produced worldwide is wasted each year, which calls for a need to estimate and control the real supply and demand of food items so that they reach the poor. These problems can be tackled easily and efficiently using the blockchain network.
With stringent lockdowns being instituted, companies have shuttered their facilities, people were ordered to stay at home. These restrictions will have impact in the blockchain in agriculture market as well. The market will however regain pace once economies start to returning to normalcy. Economic aid packages by governments, business loans and subsidized wages for workforce will revive manufacturing output and offer favorable prospects for the blockchain in agriculture market.
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Market Segmentation
By Type, Blockchain in Agriculture has been segmented into:
- Public
- Private
By Application, Blockchain in Agriculture has been segmented into:
- Product Traceability
- Tracking And Visibility
- Payment And Settlement
- Smart Contracts
- Risk And Compliance Management
- And Governance
Regions and Countries Level Analysis:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
COVID-19 Impact Analysis of Blockchain In Agriculture Market
Spreading of coronavirus globally, the global food supply chains’ various inefficiencies were realized globally. This has led to the probable opening of chances in the mid and long-term technological markets. Blockchain technology helps a repeatable framework for all digital trade executions. According to the World Economic Forum, the blockchain method is a highly efficient solution to cope with the inefficiencies in supply chains surfaced by the pandemic.
Table Of Content:
Chapter 1: Introduction
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Blockchain in Agriculture Market by Type
Continue…
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