A blockchain is an unreliable digital transaction log that is maintained by a network of several independent computers. Through specialized software platforms, individual transaction data files (blocks) are controlled, enabling the data to be transferred, processed, saved, and represented in a form that can be understood by humans. One of the cutting-edge technologies utilized in the food and agriculture supply chains to support Market expansion over the projection period is blockchain. Furthermore, blockchain in agriculture and food supply chain management is predicted to expand at an annual growth rate of 87% and climb from $60.8 million in 2018 to $429.7 million by 2023, according to Chang, Iakovou, and Shi 2019. The interest of agribusinesses and commercial farmers in blockchain technology is rising quickly. Companies are starting to realize how the improved data management capabilities of emerging technologies can improve supply chain efficiency and reduce transactional friction.
Additionally, blockchain applications for agriculture improve a number of features of agricultural systems, particularly those that rely on supply chains and the internet of things (IoT). Food security, traceability of waste reduction, food safety, food quality monitoring and control, and transactions to lower costs are all included, aiding small-scale farmers in the process. For example, the largest publicly accessible farm-to-table food traceability solution in the world is called TE-FOODS. Every day, it processes 400000 commercial transactions and serves more than 6000 company clients. TE-FOODS provides solutions for tasks including product serialization and object identification, data collection via interfaces and B2B mobile apps, data storage on blockchain, data processing to adhere to client protocols, and tools for showing consumers their food history.
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Key Player Mentioned:
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.
The most recent study on the Blockchain in Agriculture industry offers a thorough analysis of the business from 2023 to 2030. It provides a thorough overview of the global Blockchain in Agriculture Market, taking into account all relevant industry trends, Market dynamics, the competitive landscape, and Market analysis methodologies like the PESTEL, Industry Value Chain, and Porter's Five Forces analyses. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the Market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular Market areas.
Market Segmentation:
By Type
- Public
- Private
By Provider
- Application & Solution Provider
- Middleware Provider
- Infrastructure & Protocol Provider
By Application
- Product Traceability, Tracking & Visibility
- Payment & Settlement
- Smart Contracts
- Risk & Compliance Management
- Governance
Regional Segment 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)
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All this information helps to design Marketing, sales, and production strategies. This supports to develop business opportunities. Additionally, the Blockchain in Agriculture report provides a better understanding of the Market and develops new advertising campaigns for the products to reach the target audience more accurately in a short period. Also, starting the investments, sales, and Marketing campaigns at right time and with the right opportunities can save time.
The research reports on the Global Blockchain in Agriculture Market 2023 cover all the large regions, not just the small regions around the world. The report focused on Market size, value, product sales and growth opportunities in the region. In addition to providing valuable insights into customers and industries, Market research also analyzed competitiveness. Such data will undoubtedly not only make expansion, but will also help you plan your strategy to penetrate the Market.
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