A study published by Allied Market Research (AMR) predicts that the global blockchain supply chain market is expected to reach $9 billion by 2025, increasing 80.2 percent CAGR.
The study says that the demand for transparency and improved security of supply chain transactions is helping drive the sector.
The retail sector is expected to lead in blockchain adoption in the next six years, though, the healthcare industry will reportedly see the highest CAGR in the time frame. Meanwhile, industries such as manufacturing, food and beverages and oil and gas will also be major contributors to the technology as well.
According to the study, North America is the most advanced region in terms of infrastructure and technology adoption. Though, the Asia Pacific region isn't far behind, with an expectation to register the CAGR highest growth of 90.4 percent.