Global Blockchain in Manufacturing Market

Blockchain In Manufacturing Market Size, Share, Growth Analysis, By Application(Predictive Maintenance, Logistics and Supply Chain Management, Counterfeit Management, Business Process Optimization), By End users(Automotive, Textile and Clothing, Aerospace and Defense, Pharmaceuticals), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45D2092 | Region: Global | Published Date: June, 2024
Pages: 245 | Tables: 80 | Figures: 75

Blockchain In Manufacturing Market Regional Insights

North America has been quick to adopt novel manufacturing technologies owing to a developed technological infrastructure making it the top market for blockchain in manufacturing companies. The presence of key Blockchain tech providers and high awareness regarding the benefits of Blockchain technology among manufacturers are also helping this region’s dominance. The United States is slated to be at the forefront of blockchain in manufacturing market growth in this region followed by Canada. The growing popularity of smart contracts will also help market growth in this region.  

Meanwhile, the demand for blockchain manufacturing is estimated to increase at a rapid pace in the Asia Pacific region over the coming years. High investments in the development of blockchain technology, the presence of a robust manufacturing industry, and supportive government initiatives for Blockchain R&D and adoption are expected to bolster market development in the future. China and Japan are estimated to be the leading markets for blockchain in manufacturing companies in this region. 

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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).  

Blockchain in manufacturing providers are estimated to target the digitization of the manufacturing industry to maximize their business scope. Sustainability is another key trend that will help companies maximize their business potential. Innovation will be a priority for all blockchain in manufacturing market players. The use of smart contracts to maintain compliance and promote automation of business transactions is also expected to create new opportunities for blockchain in manufacturing companies in the future. Partnerships are estimated to be highly important strategies for any blockchain in a manufacturing company looking to make a mark in this market landscape in the future. 'Microsoft Corporation  ', 'IBM ', 'Intel Corporation ', 'Amazon Web Services ', 'Oracle Corporation ', 'SAP SE ', 'Blockchain Foundry Inc. ', 'Factom ', 'Chain Inc. ', 'Wipro Limited ', 'Accenture ', 'Bitfury Group ', 'Chronicled ', 'Filament ', 'Guardtime ', 'LO3 Energy ', 'RIDDLE&CODE ', 'Syncronology ', 'Virtual Operations ', 'XAIN AG'

Use of Blockchain technology in the manufacturing supply chain helps keep a transparent track of the product from raw material to finished goods. This helps blockchain in manufacturing companies maintain proper quality control right from the start to the end of the manufacturing process.  

Smart Contracts: Smart contract adoption will be a major trend for blockchain in manufacturing companies to capitalize on in the future. The use of smart contracts to ensure automated fulfillment and maintain compliance without needing to invest a lot of resources will surely offer some major opportunities for blockchain in manufacturing market players in the long run. 

North America has been quick to adopt novel manufacturing technologies owing to a developed technological infrastructure making it the top market for blockchain in manufacturing companies. The presence of key Blockchain tech providers and high awareness regarding the benefits of Blockchain technology among manufacturers are also helping this region’s dominance. The United States is slated to be at the forefront of blockchain in manufacturing market growth in this region followed by Canada. The growing popularity of smart contracts will also help market growth in this region.  

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Global Blockchain in Manufacturing Market

Report ID: SQMIG45D2092

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