The latest report published by IMARC Group, titled “Blockchain in Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on blockchain in manufacturing market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global blockchain in manufacturing market size reached US$ 1,245 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 26,717 Million by 2028, exhibiting a growth rate (CAGR) of 63.6% during 2023-2028.
What are blockchain in manufacturing?
Blockchain in manufacturing is the application of blockchain technology that is a decentralized, transparent, and secure digital ledger system in the operations of the manufacturing industry. This technology offers transformative potential for manufacturing processes, allowing for enhanced traceability, security, and efficiency. It can be used to trace the origin and journey of raw materials, authenticate and track products, prevent counterfeiting, and ensure regulatory compliance. Additionally, it facilitates secure, real-time data sharing and collaboration, making it invaluable in the age of smart manufacturing and industry 4.0. The incorporation of blockchain technology into manufacturing operations is proving instrumental in creating a more resilient, transparent, and integrated industrial ecosystem. It offers a reliable solution for traceability, counterfeit prevention, and efficient data management, among other benefits.
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What are the growth prospects and trends in the blockchain in manufacturing industry?
The increased need for supply chain transparency is driving the global market. Moreover, the rise in counterfeit products and the consequent loss of revenue and reputation for manufacturers has underscored the need for effective tracking and tracing capabilities. Besides, with the advent of Industry 4.0, major companies are generating and leveraging vast amounts of data, making robust cybersecurity measures crucial. Furthermore, as industries shift towards sustainability, blockchain can provide an immutable record of sustainable practices, from sourcing eco-friendly materials to energy-efficient manufacturing processes, supporting companies in their efforts to achieve sustainability targets. Apart from this, several major companies across the globe are implementing blockchain solutions to improve various facets of production processes, from materials sourcing to final product delivery. This is creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Accenture plc
- Advanced Micro Devices Inc.
- Amazon Web Services Inc. (Amazon.com Inc.)
- Infosys Limited
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Wipro Limited
Blockchain in Manufacturing Market Segmentation:
Our report has categorized the market based on region, provider, application and end user.
Breakup by Provider:
- Middleware Providers
- Infrastructure and Protocols Providers
- Applications and Solution Providers
Breakup by Application:
- Logistics and Supply Chain Management
- Counterfeit Management
- Quality Control and Compliance
- Others
Breakup by End User:
- Automotive
- Aerospace and Defense
- Pharmaceutical
- Electronics and Semiconductor
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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