Blockchain In Manufacturing Market to Surpass USD 70058.5 Million by 2031 | SkyQuest Technology

Westford, USA, June 06, 2024 (GLOBE NEWSWIRE) — Blockchain In Manufacturing Market to Surpass USD 70058.5 million by 2031 | SkyQuest Technology

SkyQuest projects that Global Blockchain in Manufacturing Market will attain a value of USD 70058.5 Million by 2031, with a CAGR of 71.6% over the forecast period (2024-2031). In this case, better visibility, scalability, and security can be achieved by using blockchain technology within the manufacturing business supply chain for resources, goods, parts and money exchange. Energy, industrial as well as electrical sectors are believed to push the industry’s growth hence anticipate growth of the global industry. The growing global need for energy is driving energy and power companies to investigate blockchain technologies that can boost their output while cutting down on maintenance and downtime.

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Browse in-depth TOC on the ” Blockchain In Manufacturing Market ” 

  •       Pages – 245
  •       Tables – 94
  •       Figures – 76

Blockchain In Manufacturing Market Overview:

Report Coverage Details
Market Revenue in 2023 $931.79 Million
Estimated Value by 2031 $ 70058.5 Million
Growth Rate Poised to grow at a CAGR of 71.6%
Forecast Period 2024–2031
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Segments Covered Application, End User and Provider
 Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
 Report Highlights Enhancing semiconductor manufacturing with blockchain
 Key Market Opportunities Transforming international trade and supply chain management
 Key Market Drivers Increasing demand for real-time and proactive maintenance


Reduced Fraud and Better Compliance with Regulations Allows Logistics Application to Dominate the Market

Since blockchain ensures transparency in the supply chain and enables efficient product traceability, the world’s blockchain in manufacturing revolves around logistics applications. It enhances regulatory compliance, diminishes fraud and increases performance. As a consequence, the technology enables manufacturers to uphold high standards for their products’ quality, ensure timely delivery of goods and optimize inventory management by increasing the larger adoption of blockchain in logistics.

Enhanced Grid Management Making Energy and Power Generation to Dominate 

Blockchain’s capacity to secure energy transactions and manage decentralised energy sources is what propels the energy and power generating sector’s supremacy in the global blockchain manufacturing market. This results in improved grid management, decreased operating costs, increased openness in energy trading, thereby enhancing the effectiveness and reliability of energy distribution and consumption.

Significant Investments in Technology Allows North America to Hold a High Market Share

Since blockchain technology was applied in the industrial sector of North American region, as they became a global leader. Compared to other regions, North America has maintained the largest percentage of market sales, which has increased its income share. Owing to its strong and stable economic structure, North America can greatly allocate resources into creative industrial technologies aimed at ensuring growth throughout forecast periods.

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Blockchain In Manufacturing Market Insight

Drivers:

  1.  Increasing Demand for Real-Time and Proactive Maintenance
  2.  Simplifying Business Processes, Affording Transparency and Immutability
  3.  Increase in Global Blockchain-Related Patent Filings

Restraints:

  1.  Lack of Awareness About Blockchain’s Potential Among Manufacturers
  2.  Concern Regarding Security, Privacy and Control
  3.  Inconsistent Business Semantics and Conflicts Related to Data Ownership

Prominent Players in Blockchain In Manufacturing Market

  •  Chronicled (US)
  •  Filament (US)
  •  XAIN AG (Germany)
  •  Shipchain (US)
  •  RIDDLE&CODE GMBH (Austria)
  •  Electron (UK)
  •  NVIDIA Corporation (US)
  •  Grid Singularity (Germany)
  •  CargoX (Slovenia)
  •  LO3 Energy (US)

View report summary and Table of Contents (TOC):

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Key Questions Answered in Global Blockchain In Manufacturing Market Report

  • How much is the global blockchain manufacturing market estimated to be worth in 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
  • In what ways does blockchain technology improve visibility, scalability, and security in the manufacturing supply chain?
  • Why is a large market share of North America anticipated in the global blockchain manufacturing industry?

This report provides the following insights:

  • Analysis of key drivers (Improve productivity while requiring little upkeep, little downtime leads to market growth, ability to track the movement of expensive equipment and secure & reliable sharing of information), restraints (Lack of awareness about blockchain potential among manufacturers, absence of a single set of standards and unclear regulatory environment is a major barrier), opportunities (Enhancing supply chain traceability & transparency, blockchain in manufacturing provides comprehensive transparency and blockchain technology is utilized for the secure storage), and challenges (Lack of specific regulations to govern the utilization of blockchain technology and reduced verifiable transaction record) influencing the growth of blockchain in manufacturing market
  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the blockchain in manufacturing market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the blockchain in manufacturing market
  • Market Development: Comprehensive information on lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

Related Reports:

Global Blockchain Market

Global Blockchain as a Service Market

Global Fintech Blockchain Market

Global Blockchain in Healthcare Market

Global Decentralized Finance (DeFi) Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way, 

Westford, 

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

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