Blockchain in Manufacturing Global Market Sees Growth Rate Of 74% Through 2026

4 Feb, 2022

The global blockchain in manufacturing market size is expected to increase from $49.50 million in 2021 to $85.64 million in 2022 at a compound annual growth rate (CAGR) of 73%. The change in the blockchain in the manufacturing market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The blockchain in the manufacturing market is expected to reach $778.05 million in 2026 at a CAGR of 73.6%.

What is the Global Blockchain in Manufacturing Market?

The blockchain in the manufacturing market consists of sales of blockchain in the manufacturing services by entities (organizations, sole traders, and partnerships) that are engaged in providing digitally transformed processes of manufacturing with the help of numerous systems and applications. Blockchain technology helps the manufacturing industry by making the supply chain more secure and processes more transparent.

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What drives the Global Blockchain in Manufacturing Market?

Increased demand for the blockchain from end-use industries across the globe is driving the growth of the blockchain market. In the industrial sector, blockchain can enable an altogether new manufacturing business model by increasing visibility across all elements of the process, from suppliers, strategic sourcing, procurement, and supplier quality through shop floor operations, which include machine-level monitoring and servicing. For instance, according to Wood Makenzie's Blockchain in Energy research report published in 2021, 59% of blockchain energy initiatives are creating peer-to-peer energy platforms. A peer-to-peer energy market is a community of people who trade and buy extra energy from one another. Therefore, increased demand for the blockchain from various sectors is expected to propel the growth of blockchain in manufacturing market going forward.

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Global Blockchain in Manufacturing Market Segments
The global blockchain in manufacturing market is segmented:
By Application: Logistics and Supply Chain Management, Counterfeit Management, Quality Control and Compliance, Others
By End-Use: Energy and Power, Industrial, Automotive, Pharmaceuticals, Aerospace and Defense, Food and Beverages, Textile and Clothing, Others
By Geography: The regions covered in the blockchain in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global blockchain in manufacturing market.

Blockchain in Manufacturing Global Market Report 2022provides market size and growth forecasts for the global blockchain in manufacturing market, global blockchain in manufacturing market share, blockchain in manufacturing market segments and geographies, blockchain in manufacturing market competitive landscape including leading competitors’ revenues, profiles and market shares. The blockchain in manufacturing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Blockchain in Manufacturing Industry Playersinclude Advanced Micro Devices Inc, Amazon Web Services Inc., Blockchain Foundry Inc., CargoX, Chronicled, Xayn AG, Factom Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Riddle&Code GmbH, Wipro Limited, Everledger Ltd., Accenture PLC, BigchainDB GmbH, ChromaWay AB, and LO3 Energy. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.