Blockchain in Manufacturing Market Size, Share, Revenue, Trends And Drivers For 2024-2033
Blockchain in Manufacturing Market Size, Share, Revenue, Trends And Drivers For 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 31, 2024 /EINPresswire.com/ -- The blockchain in manufacturing market is projected to grow from $145.88 billion in 2023 to $252.53 billion in 2024, with a compound annual growth rate (CAGR) of 73.1%. The growth during the historic period can be attributed to the increasing need for enhanced supply chain visibility, rising concerns over counterfeiting, the growing complexity of manufacturing processes, the adoption of smart contracts in manufacturing, and the demand for improved data security in the sector.
What Is The Estimated Market Size Of The Global Blockchain in Manufacturing Market And Its Annual Growth Rate?
The blockchain in manufacturing market is expected to reach $1999.84 billion by 2028, with a compound annual growth rate (CAGR) of 67.8%. Growth during the forecast period can be attributed to the integration of blockchain into Industry 4.0 initiatives, a growing focus on traceability and transparency, increased adoption of decentralized manufacturing networks, stricter regulatory compliance requirements, and the expansion of blockchain applications beyond the supply chain.
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Growth Driver Of The Blockchain in Manufacturing Market
Cross-border trade is expected to drive the growth of blockchain in the manufacturing market moving forward. It involves the exchange of goods, services, or commodities between countries, often requiring the movement of products across national borders. Blockchain technology enhances transparency, security, and traceability in manufacturing, streamlining cross-border trade operations and helping to minimize fraud and disputes.
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Which Market Players Are Driving the Blockchain in Manufacturing Market Growth?
Key players in the market include Advanced Micro Devices Inc., Amazon Web Services Inc., Blockchain Foundry Inc., CargoX Inc., Chronicled Inc., Xayn AG, Factom Inc., International Business Machines Corporation, Intel Corporation, Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Riddle&Code GmbH, Wipro Limited, Everledger Ltd., Accenture PLC, BigchainDB GmbH, ChromaWay AB, LO3 Energy Inc., SAP SE, Siemens AG, Baidu Inc., Huawei Technologies Co. Ltd., Deloitte Touche Tohmatsu Limited, HCL Technologies Ltd., Tata Consultancy Services Limited, Capgemini SE, Infosys Limited, Chainway Information Technology Co. Ltd., The Bitfury Group, Sphera Solutions Inc., Provenance Ltd.
What Are the Emerging Trends Shaping the Blockchain in Manufacturing Market
Leading companies in the blockchain manufacturing market are introducing advanced platforms to address environmental and social concerns. These advanced platforms are specialized blockchain solutions designed to meet the unique requirements of the manufacturing sector. They enable secure and transparent data management, optimize supply chains, and automate smart contracts, ultimately enhancing efficiency and trust in manufacturing processes.
How Is The Global Blockchain in Manufacturing Market Segmented?
1) By Applications: Logistics and Supply Chain Management, Counterfeit Management, Quality Control and Compliance, Other Applications
2) By Component: Platform, Services
3) By End-Use: Energy And Power, Industrial, Automotive, Pharmaceuticals, Aerospace And Defense, Food And Beverages, Textile And Clothing, Other End-Users
Geographical Insights: Asia-Pacific Leading The Blockchain in Manufacturing Market
Asia-Pacific was the largest region in the blockchain in manufacturing market in 2023. The regions covered in the blockchain in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Blockchain in Manufacturing Market Definition
Blockchain is an immutable shared ledger that records online transactions, monitors assets, and fosters trust within a business network.
Blockchain in Manufacturing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global blockchain in manufacturing market report covering trends, opportunities, strategies, and more
The Blockchain in Manufacturing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blockchain in manufacturing market size, blockchain in manufacturing market drivers and trends and blockchain in manufacturing market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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