India is leading global growth of blockchain adoption

The global blockchain supply chain market is set to grow at a CAGR of 60% by 2027.  India is likely to witness increased adoption in coming years.

The global blockchain supply chain market is set to grow at a CAGR of 60% by 2027.  Emerging economies such as India are likely to witness increased adoption in coming years, according to Absolute Markets Insights.

Increasing adoption from logistics industry would aid the global blockchain supply chain market that is expected to surpass US$6.5 billion by 2027, growing at a CAGR of 60%.
In the present scenario, developed economies continue to account for majority of the market revenue.
However, market penetration in emerging countries like India would grow at a significant pace during the next six years.
India is becoming a focal point of the manufacturing sector owing to the reforms in foreign direct investment and ease in entry procedures for various sectors.
India has a geographical advantage as a manufacturing and distribution location owing to the peninsular shape of the country. This makes transportation through seaways easier and helps in connecting with other regions in the world.
The country has since become an important center for manufacturing and distribution owing to the conducive government initiatives for transportation and logistics sector.
Inclusion of blockchain in the supply chain operations would help in mitigation of operational challenges and lead the country towards growth in logistics sector.
Rising investments from companies across the world in the country would also aid in bringing blockchain technology for the supply chain as an industry standard for the country.
Global blockchain supply chain market solutions would prove vital in future for the companies owing to the benefits provided by security and traceability features of blockchain technology.
Emergence of retail and e-commerce sector in India has provided an opportunity for growth of the market in logistics industry.

The best maritime news and insights delivered to you.

subscribe maritime fairtrade

Here's what you can expect from us:

  • Event offers and discounts
  • News & key insights of the maritime industry
  • Expert analysis and opinions on corruption and more