Tag: historical
Blockchain in Agriculture Market Size is expected to reach US$ 2068.5 Mn by the 2029 End
The global blockchain in agriculture market size is expected to reach US$ 2068.5 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 41.00% CAGR between 2019 and 2029.
According to the report, increasing cases of food contamination and food scams in the agricultural sector giving rise to growth of transparent supply chain methods; this factor is expected to act as a driver for the market growth. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the blockchain in agriculture market. Some of these are:
- The estimated value of the market was at US$ 66.6 Mn in 2019. Through the course of the report's forecast period, the market is exhibited to show a steady pace of growth.
- Asia Pacific is a leading producer of farm products and foodstuffs. Which means the risk of food contamination and fraud in the supply chain in this area is higher.
- The majority of Asia-Pacific countries export their food products to other nations. For example, most Asian countries export fruits and vegetables to European countries, as the highest food traceability requirements in this area are being witnessed.
- During the forecast era, the application and solution provider segment is expected to rise to the highest CAGR.
- The hacking and piracy of information available on blockchain networks is likely to curb business growth.
- In terms of provider, the middleware provider segment is forecast to remain dominant through the course of the report's forecast period.
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“Blockchain technology is revolutionizing the food and agriculture industries by improving the decision-making ability of organizations operating in these sectors,” said a lead analyst at FMI.
Production and Distribution Impacted Due to COVID-19 Outbreak
A preliminary picture of the aftermath emerges with the global pandemic of COVID-19 causing an ongoing crisis, of late. Stay-at-home orders and full lockdowns that initially resulted in a sudden increase in the blockchain consumer footprints on the agricultural sector, culminating in many logistical challenges and then a normal sales drop. Market scenes of growth, distribution, sales, and import-export are thus largely hampered. The novel coronavirus epidemic has undoubtedly led to a slump in sales, not because of the scanty stock but because of the disconcerted production and distribution chains.
Who is Winning?
The key players in the global blockchain in agriculture market include BM (US), Microsoft (US), SAP-SE (Germany), Ambrosus (Switzerland), Arc-net (Ireland), OriginTrail (Slovenia), Ripe.io (US), VeChain (China), Provenance (UK), ChainVine (UK), AgriDigital (Australia), and BlockGrain (Australia).
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
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Get Valuable Insights into Blockchain in Agriculture Market
Future Market Insights, in its new report, presents an unbiased analysis of the global blockchain in agriculture market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. The global blockchain in agriculture market can be classified based on application, which is further segmented into product traceability, smart contracts, risk & compliance management, governance, and payment & settlement.
Based on the provider, the market is classified into application & solution provider, infrastructure and protocol provider, and middleware provider. On the basis of organizational size, the market is sectored into large enterprises and SMEs. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
Tesla Model S vs. Porsche Taycan: The Jury is Still Out
While all full size luxury sedans supposedly compete with each other, the Tesla Model S and Porsche Taycan face off against each other to a greater degree, given that they are the only two electric vehicles in this segment with historical data (the Mercedes-Benz EQS and Lucid Air just launched this past fall and therefore have little data with which to analyze their performances).
A review of the migration patterns of these two full size luxury electric vehicles, as well as their inventory levels and registration volumes, suggests there is substantial marketplace interaction between them.
As shown on the table below, there are three time periods within the past twenty two months when Taycan registrations jumped month over month and, simultaneously, Model S migrations to the Taycan also rose. In April 2020, Taycan registrations jumped 268% to 153, and at the same time the percent of Model S households that migrated to a Taycan rose from .2% to 3.3%, an increase of more than 1,000%.
The same type of dynamic occurred four months later in August 2020, when Taycan registrations climbed 38% month-over-month to 615, and Model S migration to Taycan simultaneously more than doubled (as a percent of total Model S migrations) to 11%.
The third and last of these events, which occurred in August 2021, was the most pronounced of the three. Taycan registrations climbed 44% to 1, 072, and Model S migrations to Taycan, as a percent of Total Model S migrations, more than doubled to 17.3%. This metric actually climbed in September to 21.4%, the highest monthly tally of Model S migrations to Taycan in this 22 month window.
During this third event, note that heightened migration from Model S to Taycan had a substantial impact on Model S fuel type/brand loyalty. In other words, during this series of events last August and September, the percent of Model S households acquiring another EV that returned to Tesla dropped to 22 month lows of 75% and 67.5%, respectively.
Lastly, it is important to bear in mind that these heighted movements from Model S to Taycan occurred at times when Model S registrations were substantially below monthly norms, suggesting limited supplies. With this in mind, it seems to be too early to determine which of these models has the greater appeal to retail consumers. Only when both models' inventories have climbed back to "normal" levels will we be able to see how the market dynamics net out between them.
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