Discover trends, market shifts, and competitive outlooks for the blockchain in manufacturing industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#How Has The Blockchain in Manufacturing Market Size Shifted, And What Is the Outlook Through 2034?

Recent years have seen an immense growth in the market size of blockchain in manufacturing. Its growth is projected to surge from $248.93 billion in 2024 to $427.99 billion in 2025, with a compound annual growth rate (CAGR) of 71.9%. This substantial growth in the historic period can be traced back to the increasing requirement for better supply chain transparency, escalating fears of counterfeiting, the progressive complexity of manufacturing procedures, the adoption of smart contracts in the manufacturing process, and the call for enhanced data security in the manufacturing sector.

There is anticipation for the blockchain in manufacturing market size to undergo significant expansion in the forthcoming years. By 2029, it’s predicted to reach a value of $3297.77 billion, with an impressive compound annual growth rate (CAGR) of 66.6%. This surge during the future projection period is linked to the incorporation of blockchain within industry 4.0 strategies, an amplified focus on trackability and transparency, growing acceptance of decentralized manufacturing systems, increased regulatory compliance requirements, and the growing scope of blockchain applications past the supply chain. The period of prediction is also marked by the formation of consortiums and industry partnerships, implementing blockchain for quality control and compliance, synchronization of internet of things (IoT) and blockchain, the use of tokenization in manufacturing financial transactions, and an emphasis on sustainable and ethically sourced materials enabled by blockchain.

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What External and Internal Drivers Are Contributing to the Growth of theBlockchain in Manufacturing Market?

The blockchain market’s expansion is propelled by the rising need for blockchain across different end-use industries worldwide. With its potential to revolutionize the manufacturing business model, blockchain increases visibility across all steps of the industrial process, encompassing suppliers, strategic sourcing, procurement, and quality control from suppliers, as well as operations on the shop floor, including monitoring and servicing at the machine level. This is exemplified by the Energy Information Administration’s report in February 2024. The report states that in the U.S., the swift growth in cryptocurrency mining operations has led to a significant rise in electricity demand, contributing to 0.6% to 2.3% of the total electricity consumption in the country. Consequently, the escalating need for blockchain from manifold sectors anticipates driving the advancement of blockchain in the manufacturing market.

What Segment Types Define the Blockchain in Manufacturing Market Structure?

The blockchain in manufacturing market covered in this report is segmented –

1) By Applications: Logistics and Supply Chain Management, Counterfeit Management, Quality Control And Compliance, Other Applications

2) By Component: Platform, Services

3) By End-Use: Energy And Power, Industrial, Automotive, Pharmaceuticals, Aerospace And Defense, Food And Beverages, Textile And Clothing, Other End-Users

Subsegments:

1) By Logistics And Supply Chain Management: Inventory Management, Shipment Tracking, Supplier Verification

2) By Counterfeit Management: Product Authentication, Traceability Solutions, Brand Protection

3) By Quality Control And Compliance: Regulatory Compliance Tracking, Quality Assurance Documentation, Audit Trail Management

4) By Other Applications: Equipment Maintenance And Tracking, Smart Contracts For Manufacturing Processes, Data Sharing And Collaboration Platforms

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Which Geographic Areas Hold the Strongest Growth Potential in the Blockchain in Manufacturing Market?

Asia-Pacific was the largest region in the blockchain in manufacturing market in 2024. The regions covered in the blockchain in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Long-Term Trends Are Transforming the Competitive Landscape of the Blockchain in Manufacturing Market?

Leading firms in the blockchain in manufacturing market are directing their efforts towards developing highly advanced technology solutions, such as the Tezos blockchain ecosystem, with the end goal of increasing supply chain transparency and maximizing operational efficiency through decentralized systems. The Tezos blockchain platform is a decentralized application that facilitates smart contracts and dApps, incorporating inbuilt governance that lets stakeholders put forward and vote on protocol enhancements. It is characterized by its ability to self-amend, encouraging constant progression and scalability while safeguarding security and decentralization. As an example, Moi Technology Ltd., a technology company based in India, in June 2023 introduced Babylon Testnet to mitigate issues prevalent in the blockchain industry. The Babylon Testnet augments the blockchain environment with superior security, flexibility, and scalability, thereby addressing challenges related to efficiency and user engagement. Its user-focused methodology fostears an equitable and lasting digital ecosystem, thereby providing users and developers with the opportunity for streamlined interactions and intelligent decision-making processes.

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What Is the Definition of the Blockchain in Manufacturing Market?

Blockchain in manufacturing refers to the use of decentralized ledger technology to enhance transparency, traceability, and security in supply chains. It is used to track the provenance of materials, streamline processes, and ensure compliance with regulations. This technology helps manufacturers reduce fraud, improve efficiency, and foster trust among stakeholders.

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