Ability of Blockchain to Get Integrated in Various Processes in the Manufacturing Sector to Favor Market Growth
Technological advancements in data processing, cyber-physical systems and cloud computing are pushing the manufacturing industry to go for digitization in the respective domains. From contract enforcement to supply chain management, blockchain in manufacturing is revolutionizing the sector by facilitating process enhancement and cost cutting. With its ability to get incorporated in any process, adoption of blockchain in manufacturing is significantly rising, on the back of its reliability and innate security features. Blockchain in manufacturing can significantly transform various processes in the manufacturing sector such as enforcing and drafting contracts, monitoring of supply chain, inventory management, counterfeit detection, asset monitoring and tracking and quality control. Moreover, its use in transforming basic functions of the manufacturing business and transparency provided by the technology at every step from procurement of raw material to distribution of finished goods to customers is expected to drive the growth of blockchain in manufacturing market.
Supply Chain Management – A Lucrative Application of Blockchain in Manufacturing
Supply chain management (SCM) optimization has gained considerable attention with the deployment of blockchain in technology. Its use in SCM process enhancement has significantly contributed towards growth of blockchain in manufacturing in recent years. Optimization of supply chain management process has facilitated recording of price, locality, date, quality and other relevant aspects to manage supply chain efficiently. With its application in the manufacturing sector, increased traceability of material in supply chain, reduction of losses due to grey market and counterfeit products and enhanced visibility on outsourced contracts are few of the benefits that can result into responsible manufacturing, making SCM management a lucrative application area for blockchain in manufacturing.
Blockchain in Manufacturing for SMEs Likely to Grow Strong
Although technology has proliferated across every industry vertical, a general trend should be thought of individually. For instance, multinational companies can easily integrate technology in their legacy systems to improve production rates and enhance customer responsiveness, SMEs often lack IT infrastructures. Moreover, small and medium scale enterprises are short of cross industry networks and cost-effective automation tools to keep up with rapidly changing business environments. Considering this perspective, it becomes vital for SMEs to initiate vertical integration or internal collaboration and horizontal integration to realize gains from Industry 4.0 applications. Need for centralized IT infrastructure and costly automation tools, blockchain becomes a promising solution that can enable cost efficient, fast, traceable and secure transactions across decentralized infrastructures, in turn reflecting a high potential for digitization of SMEs. To conclude, blockchain in manufacturing, especially for SMEs is likely to hold a strong position across the globe.
Blockchain in Manufacturing Market to Witness Noteworthy Growth in Asia Pacific Region
Asia Pacific region is considered as one of the manufacturing pillars and the manufacturing sector has been undergoing rapid technological transformation in this region. According to UNIDO (United Nations Industrial Development Organization), China has been promoting industrialization leading to growth in its manufacturing sector. Likewise, in Japan, growth of industrial production is expected to grow significantly, establishing its dominance in the manufacturing sector. According to IMF (International Monitory Fund), manufacturing sector in Japan has achieved commendable productivity gains due to increased adoption of technology. Similarly, India has also reflected high growth in its manufacturing sector due to favorable government initiatives such as “Made in India”, in a bid to give global recognition to the manufacturing hub. This is likely to fuel demand for technology in Asian countries, offering an opportunistic marketplace for blockchain in manufacturing.
According to World Economic Forum, 10% of global GDP is likely to get stored in blockchain by end of 2027, with 42% tasks performed by machines by 2022. That said, blockchain in manufacturing is expected to showcase optimistic growth in the coming years and key players can focus on enhancing their footprint, especially in emerging economies of Asia Pacific.
Blockchain in manufacturing market is consolidated with a limited presence of recognized and established players. Some of the key players in the blockchain in manufacturing market are IBM Corporation, Intel Corporation, Microsoft Corporation, Wipro Limited, Amazon Web Services Inc., XAIN AG, Advanced Micro Devices and Cloud Technology Partners Inc.
Regional Classification of the Global Blockchain in Manufacturing Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Blockchain in Manufacturing Market
- Blockchain in Manufacturing Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2019 - 2022
- Market Value at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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1. Executive Summary
1.1. Global Blockchain in Manufacturing Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid and Post-covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE
3. Global Blockchain in Manufacturing Market Outlook, 2019 - 2030
3.1. Global Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
3.1.1. Key Highlights
3.1.1.1. Business Process Optimization
3.1.1.2. Logistics & Supply Chain Management
3.1.1.3. Counterfeit Management
3.1.1.4. Quality Control & Compliance
3.1.1.5. Misc.
3.2. Global Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
3.2.1. Key Highlights
3.2.1.1. Automotive
3.2.1.2. Energy & Power
3.2.1.3. Industrial
3.2.1.4. Pharmaceuticals
3.2.1.5. Misc.
3.3. Global Blockchain in Manufacturing Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
3.3.1. Key Highlights
3.3.1.1. North America
3.3.1.2. Europe
3.3.1.3. Asia Pacific
3.3.1.4. Latin America
3.3.1.5. Middle East & Africa
3.3.2. BPS Analysis/Market Attractiveness Analysis
4. North America Blockchain in Manufacturing Market Outlook, 2019 - 2030
4.1. North America Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
4.1.1. Key Highlights
4.1.1.1. Business Process Optimization
4.1.1.2. Logistics & Supply Chain Management
4.1.1.3. Counterfeit Management
4.1.1.4. Quality Control & Compliance
4.1.1.5. Misc.
4.2. North America Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
4.2.1. Key Highlights
4.2.1.1. Automotive
4.2.1.2. Energy & Power
4.2.1.3. Industrial
4.2.1.4. Pharmaceuticals
4.2.1.5. Misc.
4.3. North America Blockchain in Manufacturing Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
4.3.1. Key Highlights
4.3.1.1. U.S.
4.3.1.2. Canada
4.3.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Blockchain in Manufacturing Market Outlook, 2019 - 2030
5.1. Europe Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Business Process Optimization
5.1.1.2. Logistics & Supply Chain Management
5.1.1.3. Counterfeit Management
5.1.1.4. Quality Control & Compliance
5.1.1.5. Misc.
5.2. Europe Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Automotive
5.2.1.2. Energy & Power
5.2.1.3. Industrial
5.2.1.4. Pharmaceuticals
5.2.1.5. Misc.
5.3. Europe Blockchain in Manufacturing Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. Germany
5.3.1.2. France
5.3.1.3. U.K.
5.3.1.4. Italy
5.3.1.5. Spain
5.3.1.6. Russia
5.3.1.7. Rest of Europe
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Blockchain in Manufacturing Market Outlook, 2019 - 2030
6.1. Asia Pacific Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Business Process Optimization
6.1.1.2. Logistics & Supply Chain Management
6.1.1.3. Counterfeit Management
6.1.1.4. Quality Control & Compliance
6.1.1.5. Misc.
6.2. Asia Pacific Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Automotive
6.2.1.2. Energy & Power
6.2.1.3. Industrial
6.2.1.4. Pharmaceuticals
6.2.1.5. Misc.
6.3. Asia Pacific Blockchain in Manufacturing Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. China
6.3.1.2. Japan
6.3.1.3. South Korea
6.3.1.4. India
6.3.1.5. Southeast Asia
6.3.1.6. Rest of Asia Pacific
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Blockchain in Manufacturing Market Outlook, 2019 - 2030
7.1. Latin America Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Business Process Optimization
7.1.1.2. Logistics & Supply Chain Management
7.1.1.3. Counterfeit Management
7.1.1.4. Quality Control & Compliance
7.1.1.5. Misc.
7.2. Latin America Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Automotive
7.2.1.2. Energy & Power
7.2.1.3. Industrial
7.2.1.4. Pharmaceuticals
7.2.1.5. Misc.
7.3. Latin America Blockchain in Manufacturing Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. Brazil
7.3.1.2. Mexico
7.3.1.3. Rest of Latin America
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Blockchain in Manufacturing Market Outlook, 2019 - 2030
8.1. Middle East & Africa Blockchain in Manufacturing Market Outlook, by Application, Value (US$ Mn), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Business Process Optimization
8.1.1.2. Logistics & Supply Chain Management
8.1.1.3. Counterfeit Management
8.1.1.4. Quality Control & Compliance
8.1.1.5. Misc.
8.2. Middle East & Africa Blockchain in Manufacturing Market Outlook, by End-user, Value (US$ Mn), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Automotive
8.2.1.2. Energy & Power
8.2.1.3. Industrial
8.2.1.4. Pharmaceuticals
8.2.1.5. Misc.
8.3. Middle East & Africa Blockchain in Manufacturing Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. GCC
8.3.1.2. South Africa
8.3.1.3. Rest of Middle East & Africa
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Company Market Share Analysis, 2022
9.2. Competitive Dashboard
9.3. Company Profiles
9.3.1. IBM Corporation
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
9.3.2. Microsoft Corporation
9.3.3. Amazon Inc.
9.3.4. Oracle
9.3.5. Intel Corporation
9.3.6. Wipro
9.3.7. Accenture
9.3.8. SAP
9.3.9. BigchainDB GmbH
9.3.10. Factom Iris
9.3.11. Nvidia Corporation
9.3.12. Blockchain Foundry Inc.
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations
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2019 - 2022 |
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2023 - 2030 |
Value: US$ Million |
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Leading Market Companies |
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Report Highlights |
Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Competition Landscape, Application-, End-user-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends |
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