WESTFORD,
Mass., July 10, 2024 /PRNewswire/ -- According
to SkyQuest, the global Blockchain In Manufacturing Market
size was valued at USD 542.56 million
in 2022 and is poised to grow from USD
931.79 million in 2023 to USD 70058.5
million by 2031, growing at a CAGR of 71.6% in the forecast
period (2024-2031).
Modernization of manufacturing operations around
the world is setting the tone for blockchain in manufacturing
market development. Advancements in Blockchain technology and
integration of the same with manufacturing practices will help
blockchain in manufacturing companies expand their business scope
in the future. Better transparency and security offered by
manufacturing solutions based on Blockchain technology is what
allows the market to be highly opportune going forward. The
global blockchain in the manufacturing market is segmented into
application, end user, and region.
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overview:
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Blockchain in Manufacturing Market
Overview:
Report Coverage
|
Details
|
Market Revenue in
2023
|
$ 931.79
Million
|
Estimated Value by
2031
|
$ 70058.5
Million
|
Growth Rate
|
Poised to grow at a
CAGR of 71.6%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Application and End
User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Rising use of
automation and IoT technologies
|
Key Market
Drivers
|
High demand for smart
manufacturing to improve productivity and rising demand for
proactive maintenance
|
Segments covered in Blockchain in
Manufacturing Market are as follows:
- Application
- Predictive Maintenance (Vibration
Monitors, Thermography,
Ferrography), Logistics and Supply Chain
Management (Ledger System, Smart Contracts), Counterfeit Management
(Barcodes, QRCodes, Radio Frequency
Identification Tags), Business Process Optimization (Ledger
Technology), and Others
- End-Users
- Automotive (Streamlining Transactions, Car and Vehicle
Tracking, Autonomous Driving), Textile and clothing (Enhanced
Traceability in Transactions, Real-time Tracking of Goods),
Aerospace and Defense (Aircraft maintenance, Finance, Biometric
Identity Verification), Pharmaceuticals (Transparency and
Traceability, Data Integrity, Counterfeit Drug Mitigation), Energy
& Power (Secure Platform for P2P Trading), and Others
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report:
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Emphasis on Improving Supply Chain Management
to Promote Use of Blockchain Technology
The robust security and transparency offered by
Blockchain-based supply chain solutions is what allows this segment
to emerge as highly remunerative for market players. Manufacturing
companies utilizing blockchain technology are enhancing the
efficiency and transparency of supply chains through advanced data
visualization and management capabilities. Blockchain also
optimizes logistics by offering improved traceability and handling
of various assets involved in the manufacturing process. From
manufacturers to consumers, these solutions are projected to
benefit everyone.
As uncertainty among international markets
increases, the need for business optimization has risen. Blockchain
technology can help streamline operations by minimizing operations
costs and automating several other tasks through smart contracts
and other features. Business optimization application is a segment
that can prove to be a game changer for new as well as established
blockchain in manufacturing companies.
View report summary and Table of Contents
(TOC):
https://www.skyquestt.com/report/blockchain-in-manufacturing-market
Automotive Industry Takes Wheel in Terms of
Blockchain in Manufacturing Adoption
Automotive manufacturers are continually focusing
on improving their operations through adoption of advanced
manufacturing techniques and technologies. Growing demand for
vehicles and the need for novel manufacturing technologies to
create unique vehicle components will also play a crucial role in
determining the future of blockchain manufacturing. From supply
chain to sales of vehicles, Blockchain is projected to
revolutionize every aspect of the automotive industry in the long
run.
Use of Blockchain in pharmaceutical manufacturing
is projected to have a bright outlook over the coming years.
Pharmaceutical companies can use Blockchain to track pharmaceutical
ingredients and even resolve the issue of counterfeit drugs by
keeping track of all pharmaceuticals manufactured. Secure data
sharing is another perk of using Blockchain technology in
pharmaceutical manufacturing.
New companies in the global blockchain in
manufacturing market will need to focus on providing services to
penetrate the market and then move on to Blockchain in
manufacturing solutions. Established blockchain in manufacturing
providers should target automotive and pharmaceutical industries to
take their business to the next level in the future.
Related Report:
Blockchain Market
Blockchain as a Service Market
Blockchain in Healthcare Market
Cryptocurrency Market
Automotive Blockchain Market
About Us:
SkyQuest is an IP focused Research and Investment
Bank and Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors,
innovation seekers, entrepreneurs, companies and investors alike in
leveraging external sources of R&D. Moreover, we help them in
optimizing the economic potential of their intellectual assets. Our
experiences with innovation management and commercialization have
expanded our reach across North
America, Europe, ASEAN and
Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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SOURCE SkyQuest Technology