Global Blockchain in Manufacturing Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Blockchain in Manufacturing Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global blockchain in manufacturing market report has been segmented on the basis of application, end user, and region.
Global Blockchain in Manufacturing Market: Overview
Blockchain in manufacturing offers high visibility of business process by gathering data. Blockchain technology adoption in manufacturing enables movement detection of various equipment, real-time data analysis, and helps to monitor customer purchase behavior. In addition, blockchain provides business insights that are used to assess performance of various equipment or machinery as well as these insights provide global comparison of product portfolio usage across various regions.
Global Blockchain in Manufacturing Market: Dynamics
Using blockchain technology in the manufacturing sector is estimated to witness major changes that help in digitalization of various operations. Increasing adoption of blockchain-as-a-service (BaaS) solutions for smart manufacturing processes by various manufacturing industries are major factors expected to drive growth of the global market during the forecast period. Also, increasing need to simplify business processes, and increase transactions immutability and transparency in manufacturing industries management department is a factor expected to support growth of the target market.
Increasing demand for real-time data analysis, proactive maintenance, and enhanced visibility from various automotive and electronic industries are other key factors expected to boost growth of the global blockchain in manufacturing market in the coming years.
In addition, increasing convergence in information technology (IT) and operational technology (OT), and increasing adoption of artificial intelligence, blockchain and IoT technologies for advanced and smart manufacturing facility, coupled with growing industry 4.0 revolution across the globe are among major factors expected to fuel growth of the global market. Moreover, rising number of patent filings for these technology is expected to proliferate growth of the global blockchain in manufacturing market in the next 10 years.
Furthermore, growing adoption of supply chain management and international trade in various industries, rising need to adopt emergence of technologies for smart contracts and payments, and high demand for enhanced manufacturing machinery, coupled with development in 3D printing technology through various R&D activities by prominent layers across the globe is expected to create new high revenue growth opportunities for players in the global blockchain in manufacturing market.
However, lack of cognizance regarding blockchain technology potential among manufacturers and rising concern associated with automated control systems, and data privacy and security are some major factors expected to hamper growth of the target market in the coming 10 years.
Global Blockchain in Manufacturing Market: Regional Analysis
The market in North America is expected to register highest CAGR in the global market over the forecast period, owing to high implementation of Industry 4.0 revolution in manufacturing industries and high adoption of emerging technologies that can offer smart solutions in electronics industry with high dominance of information technology (IT) sector in countries in the region. The market in Asia Pacific is expected to register second highest market share in terms of revenue in the global market, owing to high presence of prominent automotive manufacturing facilities and increasing penetration of digitalization in electronics sector in emerging and developed countries in this region.
Moreover, market in the Europe is expected to witness lucrative growth due to increasing adoption and awareness of blockchain technology followed by market in the Latin America and Middle East & Africa.
Global Blockchain in Manufacturing Market Segmentation:
Segmentation by Application:
- Predictive Maintenance
- Counterfeit Management
- Business Process Optimization
- Quality Control and Compliance
- Asset Tracking and Management
- Logistics and Supply Chain Management
- Real-Time Workforce Tracking and Management
Segmentation by End User:
- Power & Energy
- Food & Beverages
- Aerospace & Defense
- Others (Electronics, Printing, Oil & Gas, Textile & Clothing, Chemicals, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Xain AG
- Factom, Inc.
- Wipro Limited
- IBM Corporation
- Intel Corporation
- Com, Inc.
- Nvidia Corporation
- Oracle Corporation
- Microsoft Corporation
- Advanced Micro Devices
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