Blockchain in Manufacturing Market Size, Share Report, Analysis, Trends, Growth 2032

Blockchain in Manufacturing Market: Industry Prospective

The global Blockchain in Manufacturing market size accrued earnings worth approximately USD 2.13 Billion in 2023 and is predicted to gain revenue of about USD 70.55 Billion by 2032, is set to record a CAGR of nearly 47.60% over the period from 2024 to 2032.

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Blockchain in Manufacturing Market Overview

The ever-increasing demand for supply chain tracking solutions is likely to primarily fuel the blockchain in manufacturing market over the forecast timeframe. Some major benefits of the blockchain technology in the supply chain are reduced delays due to paperwork, fast product identification, minimized transportation costs, and reduced errors. With the help of blockchain, organizations can obtain real-time digital ledger of all their transactions for all the participants in their network. Various consumer electronics manufacturers, such as Samsung, Apple, and General Electric, have opted to use blockchain for their supply chain activities. In 2018, Samsung announced that it is building a distributed ledger system to track its international shipments. It is estimated that this technology would help the company to reduce its shipping costs by about 20%. This, in turn, is projected to drive the development of the blockchain in manufacturing market globally in the future.

This report offers a comprehensive analysis of the global blockchain in manufacturing market along with market trends, drivers, and restraints of the market. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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Blockchain in Manufacturing Market Growth Dynamics

Huge adoption of automation in various manufacturing processes is anticipated to drive the blockchain in manufacturing market globally in the upcoming years. Blockchain combined with robotics is anticipated to make robotics operations more flexible and profitable. About 75% robot sales were witnessed in manufacturing countries, such as the U.S., Germany, China, Japan, and the Republic of Korea. These robots are used in assembly lines, warehouses, distributing, and loading products in manufacturing plants. However, the lack of knowledge among manufacturers about blockchain technology might slowdown this market on a global scale. Various measures, such as onsite training, hiring new workers, and investments in blockchain startups, are being taken up by several manufacturers to overcome these challenges.

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Blockchain in Manufacturing Market Segmentation Analysis

The study provides a decisive view of the blockchain in manufacturing market by segmenting the market based on application, end-use, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The blockchain in manufacturing market is divided on the basis of application and end-use.

By application, this market includes supply chain tracking, process transformation, asset sharing, track and trace, warranty management, and others.

On the basis of end-use, this market includes automotive, consumer electronics, healthcare, aerospace and defense, textile, energy and power, food and beverages, and others.

By region, Asia Pacific is likely to witness substantial growth in the blockchain in manufacturing market in the future. China is expected to register the highest demand for blockchain solutions in the manufacturing sector, owing to the increased technology adoption. North America is anticipated to contribute a significant share to the blockchain in manufacturing market over the estimated timeframe due to the rising investments made in the manufacturing sector.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into major countries, such as the U.S., Canada, Mexico, the UK, France, Germany, Russia, China, India, Japan, South Korea, Brazil, Argentina, UAE, Saudi Arabia, and South Africa, among others.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global blockchain in manufacturing market, such as

• Microsoft Corporation
• IBM Corporation
• Intel Corporation
• Oracle Corporation
• Amazon, Inc.
• NVIDIA Corporation
• Advanced Micro Devices, Inc.
• Wipro Limited
• Xain AG
• and Factom, among others.

This report segments the global blockchain in manufacturing market into:

Blockchain in Manufacturing Market: Application Analysis

• Supply Chain Tracking
• Process Transformation
• Asset Sharing
• Track and Trace
• Warranty Management
• Others

Blockchain in Manufacturing Market: End-Use Analysis

• Automotive
• Consumer Electronics
• Healthcare
• Aerospace and Defense
• Textile
• Energy and Power
• Food and Beverages
• Others

Blockchain in Manufacturing Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa