Press release
Blockchain in Manufacturing Market Advance Technology and New Innovations 2021: IBM Corporation, Intel Corporation, Microsoft Corporation, Amazon Web Services Inc., Wipro Limited
The Global Blockchain in Manufacturing Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The global spending on the blockchain by the manufacturing sector was valued at USD 313.08 million in 2019, and it is expected to reach a value of USD 9,298.50 million by 2025, registering a CAGR of 76.26% over the forecast period 2020 -2025.
Top Companies in the Global Blockchain in Manufacturing Market are IBM Corporation, Intel Corporation, Microsoft Corporation, Amazon Web Services Inc., Wipro Limited, Oracle Corporation, Accenture PLC, Factom Inc., Advanced Micro Devices Inc., SAP SE, Infosys Ltd and others.
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Industry News
- October 2019 - IBM launched a new supply chain based on its blockchain platform and open-source software from recently acquired Red Hat. It allows distributors, manufacturers, and retailers to integrate their own data and networks, as well as those of their suppliers, onto a Hyperledger-based blockchain.
- June 2019 - Oracle Corporation announced Oracle Intelligent Track and Trace for businesses using supply chain management, to fix the challenges associated with the network of trading partners. It is a pre-built application that works out-of-the-box and is powered by blockchain technology. The application helps to gain efficiencies for supply-chain management by pinpointing the transactions and goods across the supply chain.
Key Market Trends
Electronics and Semiconductor Vertical is Expected to Account for the Largest Market Share
- Electronics and semiconductor manufacturers are facing a number of quality, logistics, and supply chain challenges in the industry. Poor quality and counterfeiting to inefficient processes and a lack of trust in production are driving the demand for advanced solutions in the sector.
- With complex manufacturing processes, the demand for parts and material integrity within the supply chain needs to be enhanced in order to reduce the lead time and lower the production cost. In each stage of electronics and semiconductor manufacturing, blockchain could be applied in a variety of use cases to expedite processes and overcome the security issues.
- For instance, in pre-production scenarios, manufacturers can utilize blockchain solutions for Collaborative Planning, Forecasting, and Replenishment (CPFR). Data related to materials of components and subcomponents of manufacturing equipment and products can be stored and analyzed in blockchain, which can further help in verifying compliance with health and environmental regulations.
- Suppliers can also integrate IoT sensors with blockchain on shipping containers to provide a tamper-resistant record of shipping conditions. It is estimated that annually counterfeiting costs USD 7.5 billion to the US-based semiconductor manufacturers. Therefore, adopting a blockchain solution can help them minimize these costs.
- Foxconn, Taiwan Semiconductor Manufacturing Company, and Samsung are some electronics and semiconductor manufacturers that are also utilizing the potential of blockchain technology for advancing their manufacturing process.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Blockchain in Manufacturing market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Blockchain in Manufacturing market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Blockchain in Manufacturing market.
Market Segments: This part of the report discusses product type and application segments of the global Blockchain in Manufacturing market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approaches Blockchain in Manufacturing used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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