$550+ Million Blockchain in Manufacturing Market, 2018-2020 & 2025

DUBLIN, Oct. 3, 2018 /PRNewswire/ --

The "Blockchain in Manufacturing Market by Application (Business Process Optimization, Logistics and Supply Chain Management, Counterfeit Management), End Use (Automotive, Energy & Power, Industrial, Pharmaceuticals), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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The blockchain in manufacturing market is expected to be worth USD 30.0 million by 2020 and USD 566.2 million by 2025, growing at a CAGR of 80.0% from 2020 to 2025.

Some of the major growth drivers for this market would be convergence of operational technology (OT) and information technology (IT); sudden rise in global blockchain-related patent filings; substantial upsurge in venture capital funding; demand for real-time data analyses, predictive maintenance, and visibility into business processes; and use of disruptive technologies such as AI, IOT, and blockchain in the manufacturing industry.

Among all applications, logistics and supply chain management applications are expected to account for the largest market share as well as the highest CAGR during the forecast period. Blockchain can support supply chain management by offering users reliable data management and visualization capabilities. Technology enabled supply chain can provide an intelligent, interconnected network that binds together multiple tiers of suppliers, manufacturers, service providers, distributors, and customers distributed across the globe; technologies like blockchain, AI, and IoT are helping traditional methods of supply chain management, product tracking, and inventory management evolve to handle present day complexities. For example, nearly 90% of goods in global trade annually are handled by the ocean shipping industry blockchain solutions would help manage and track the documents of tens of millions of shipping containers across the world by digitizing supply chains.

Energy & power and industrial sectors are expected to account for major shares of the overall blockchain in manufacturing market during the forecast period. Maintenance, inspection, fuel mix, ambient temperature, air quality, and material movement are major issues in the energy & power sector. Using blockchain along with AI and IoT can help solve such issues and predict possible issues that may arise in future. These technologies in energy plants comprise deep physics insights, engineering design knowledge, and new inspection technologies that provide a complete solution for predictive maintenance and machinery inspections. Grid Singularity is creating an open (permissioned) Internet-based decentralized energy data exchange platform. The ecosystem would enable forecasting for grid balancing (smart grid management); facilitate investment, trade of green certificates/certificates of origin, and eventually energy trade validation. Innovators from institutions such as Massachusetts Institute of Technology (US) and Cornell University (US) and companies such as IBM and Intel are trying to develop green blockchain innovations to address demand for blockchain that streamlines transactions of all sorts.

Logistics and supply chain management, quality control and compliance, and business process optimization applications to drive market growth

Logistics and supply chain management

Logistics and supply chain management is vital for a lot of companies, particularly ones in the manufacturing industry. The objective of any smart supply chain management system is to reduce inventory costs to the minimum possible limit without affecting normal operations of an organization. Supply chain management covers everything from product development, sourcing, production, and logistics to coordination between these activities. Blockchain can support supply chain management by offering users reliable data management and visualization capabilities. Technology enabled supply chain can provide an intelligent, interconnected network that binds together multiple tiers of suppliers, manufacturers, service providers, distributors, and customers distributed across the globe; technologies like blockchain, AI, and IoT are helping traditional methods of supply chain management, product tracking, and inventory management evolve to handle present day complexities.

The supply chain ecosystem includes various components, such as legal, insurance, settlement, transport management, route planning, normative compliance, and fleet management, which require intermediaries. But with blockchain, intermediaries can be taken out of the equation to streamline the flow of supply chain operations; it also allows all transaction data across networks to be synchronized, enabling participants validate each other's work. However, blockchain's major advantage continues to be accountability and visibility: even with transaction volumes and respective data significantly high, each transaction can be accurately backtracked to its point of origin.

In 2017, IBM and Maersk tested the application of blockchain in logistics. In a proof-of-concept, the 2 companies demonstrated how blockchain can be used to track on-transit containers, and how supply chain stakeholders can benefit from accessing relevant, actionable information. In the future, other players like shippers, freight forwarders, ocean carriers, ports, and customs authorities are going to be included in the platform. By reducing paperwork, providing important information more rapidly, and preventing shipping fraud, IBM and Maersk hope to reduce logistics costs drastically.

Another start-up working on similar lines is Everledger that uses blockchain to register diamonds' transaction history and ownership. In the future, the start-up wants to extend its solution's applications to other goods.

Key Topics Covered:

1 Introduction

2 Research Methodology

2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
2.5 Demand and Supply-Side Analysis
2.5.1 Introduction
2.5.2 Demand-Side Analysis
2.5.2.1 Growth in Business Outlook in Manufacturing Sector
2.5.2.2 Shortage of Skilled Labor
2.5.2.3 Rising Wages of Labor
2.5.3 Supply-Side Analysis
2.5.3.1 Cross-Industry Partnership in Manufacturing Domain

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities for Blockchain in Manufacturing Market
4.2 Blockchain in Manufacturing Market, By Application
4.3 Blockchain in Manufacturing Market, By End Use
4.4 Blockchain in Manufacturing Market in APAC, By End Use and By Country
4.5 Blockchain in Manufacturing Market, By Region

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Blockchain-As-A-Service (BaaS) Solutions for Enterprises
5.2.1.2 Simplifying Business Processes and Affording Transparency and Immutability
5.2.1.3 Significant Increase in Venture Capital Investments and Initial Coin Offerings (ICO)
5.2.1.4 Increasing Demand for Real-Time Data Analyses, Enhanced Visibility, and Proactive Maintenance
5.2.1.5 Increased Emphasis on Energy Efficiency and Cost of Production
5.2.1.6 Convergence in Operational Technology (OT) and Information Technology (IT)
5.2.1.7 Ai, IoT, Blockchain and the Future of Manufacturing Industry
5.2.1.8 Increase in Global Blockchain-Related Patent Filings
5.2.2 Restraints
5.2.2.1 Uncertain Regulatory Landscape and Absence of Common Set of Standards
5.2.3 Opportunities
5.2.3.1 Transforming International Trade and Supply Chain Management
5.2.3.2 High Adoption of Blockchain Technology for Payments, Smart Contracts, and Digital Identities
5.2.3.3 Advancement in 3d Printing Technology
5.2.3.4 Outcome Economy and Pull Economy
5.2.4 Challenges
5.2.4.1 Lack of Awareness About Blockchain's Potential Among Manufacturers
5.2.4.2 Concern Regarding Security, Privacy, and Control
5.2.4.3 Inconsistent Business Semantics and Conflicts Related to Data Ownership
5.3 Industry Trends
5.3.1 Types of Blockchain Technology
5.3.1.1 Public Blockchain
5.3.1.2 Private Blockchain
5.3.1.3 Permissioned Blockchain
5.3.2 Key Features of Blockchain Technology
5.3.2.1 Disintermediation
5.3.2.2 Distributed Ledger
5.3.2.3 Immutability
5.3.2.4 Transparency
5.3.2.5 Security
5.3.2.6 Permissioned
5.3.2.7 Settlements
5.3.3 Blockchain Associations and Consortiums
5.3.3.1 CLS Group
5.3.3.2 R3cev Blockchain Consortium
5.3.3.3 Hyperledger
5.3.3.4 GPSG
5.3.3.5 Financial Blockchain Shenzhen Consortium (FBSC)
5.3.3.6 Cu Ledger
5.3.3.7 Blockchain Collaborative Consortium (BCCC)
5.3.3.8 Wall Street Blockchain Alliance (WSBA)
5.3.3.9 Mobility Open Blockchain Initiative (MOBI)
5.3.3.10 Alastria
5.3.3.11 Others
5.4 Market Evolution
5.5 Blockchain in Supply Chain Management
5.6 Value Chain Analysis

6 Blockchain in Manufacturing Market, By Application

6.1 Introduction
6.2 Predictive Maintenance
6.3 Asset Tracking and Management
6.4 Business Process Optimization
6.5 Logistics and Supply Chain Management
6.6 Real-Time Workforce Tracking and Management
6.7 Quality Control and Compliance
6.8 Counterfeit Management

7 Blockchain in Manufacturing Market, By End Use

7.1 Introduction
7.2 Automotive
7.2.1 Use Cases
7.2.1.1 Car Sales and Leasing
7.2.1.2 Supply Chain Management
7.2.1.3 Speeding Up Self-Driving Car Development
7.2.1.4 Smart Manufacturing
7.2.1.5 Automotive IoT
7.3 Energy & Power
7.3.1 Use Cases
7.3.1.1 Grid Management/Security
7.3.1.2 Electric Vehicle Charging
7.3.1.3 IoT
7.4 Pharmaceuticals
7.4.1 Use Cases
7.4.1.1 Inventory Management
7.4.1.2 Supply Chain Management
7.4.1.3 Drug Manufacturing Safety
7.4.1.4 Regulatory Submission
7.4.1.5 Clinical Trial Management
7.5 Food & Beverages
7.5.1 Use Cases
7.5.1.1 Food Safety
7.5.1.2 Faster Payment
7.6 Aerospace & Defense
7.7 Industrial
7.8 Textile & Clothing
7.9 Others

8 Geographic Analysis

9 Competitive Landscape

9.1 Overview
9.2 Market Ranking Analysis
9.3 Competitive Scenario
9.3.1 Product Launches, Developments, and Expansion
9.3.2 Partnerships, Contracts, Acquisitions, and Agreements

10 Company Profiles

10.1 Key Players
10.1.1 IBM Corporation
10.1.2 Intel Corporation
10.1.3 Microsoft Corporation
10.1.4 Amazon.Com, Inc.
10.1.5 Nvidia Corporation
10.1.6 Advanced Micro Devices
10.1.7 Factom
10.1.8 Wipro Limited
10.1.9 Oracle
10.1.10 Xain AG
10.2 Other Key Players
10.2.1 Bigchaindb GmbH
10.2.2 Cargox
10.2.3 Riddle&Code GmbH
10.2.4 Chronicled
10.2.5 Lo3 Energy
10.2.6 Electron
10.2.7 Filament
10.2.8 Grid Singularity
10.2.9 Blockchain Foundry Inc.
10.2.10 Shipchain

For more information about this report visit https://www.researchandmarkets.com/research/m8h92c/550_million?w=5

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