Blockchain In Manufacturing Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Blockchain In Manufacturing Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 8, 2023 /EINPresswire.com/ — The global blockchain in manufacturing market is projected to experience substantial expansion, increasing from $0.08 billion in 2022 to $0.14 billion in 2023, with a remarkable Compound Annual Growth Rate (CAGR) of 73.3%. Despite the challenges posed by the Russia-Ukraine conflict and the persisting impacts of the COVID-19 pandemic, the market is poised to surge to $1.37 billion by 2027. This growth is primarily attributed to the escalating demand for blockchain technology across various industries, revolutionizing manufacturing operations and supply chain management processes.
Rising Demand for Blockchain Across Diverse End-Use Industries Drives Market Growth
The mounting demand for blockchain technology in diverse end-use industries is a key driver propelling the expansion of the blockchain in manufacturing market. Blockchain implementation has facilitated enhanced visibility and efficiency across the manufacturing process, including supply chain management, logistics, and quality control. Notably, blockchain technology is revolutionizing the industrial sector by streamlining operations, ensuring transparency, and enabling real-time monitoring and servicing, thus driving the demand for blockchain solutions across numerous industries.
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Key Players and Market Dynamics
Key players such as IBM Corporation, Amazon Web Services Inc., and Microsoft Corporation are at the forefront of driving technological advancements and fostering innovation within the blockchain in manufacturing market. The market segments, including logistics and supply chain management, quality control and compliance, and other applications, reflect the diverse and evolving nature of the market, catering to the specific needs and requirements of different manufacturing sectors.
• Applications: Logistics and Supply Chain Management, Counterfeit Management, Quality Control and Compliance, Other Applications
• Component: Platform, Services
• End-Use: Energy And Power, Industrial, Automotive, Pharmaceuticals, Aerospace And Defense, Food And Beverages, Textile And Clothing, Other End-Users
Advancements in Technology Shape Market Progress
The convergence of blockchain technology with artificial intelligence and Internet-of-Things (IoT) is revolutionizing the manufacturing sector, driving automation and optimizing production processes. Notably, technology advancements, such as the introduction of blockchain-based systems for vaccine supply tracking, underscore the transformative potential of blockchain technology in ensuring transparency, security, and efficiency within the manufacturing ecosystem.
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Diverse Market Dynamics Across Regions
While Asia-Pacific dominated the blockchain in manufacturing market in 2022, other regions, including Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, are poised for significant growth, offering diverse market dynamics and promising opportunities for market expansion.
Blockchain in Manufacturing Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• 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.
Trends, opportunities, strategies and so much more.
The Blockchain in Manufacturing Global Market Report 2023 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, blockchain in manufacturing market major players, blockchain in manufacturing market competitors’ revenues, market positioning, and blockchain in manufacturing market growth across geographies. The blockchain in manufacturing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Blockchain in Manufacturing Market Anticipates Exponential Growth, Forecasted to Reach $1.37 Billion by 2027