USD 531.79 million
Report ID:
SQMIG45D2092 |
Region:
Global |
Published Date: March, 2025
Pages:
245
|Tables:
80
|Figures:
75
Blockchain In Manufacturing Market size was valued at USD 531.79 million in 2023 and is poised to grow from USD 912.55 million in 2024 to USD 68611.31 million by 2032, growing at a CAGR of 71.6% during the forecast period (2025-2032).
The manufacturing industry is undergoing a digital revolution, and this trend is projected to bolster the demand for blockchain in manufacturing over the coming years. From supply chain management to process optimization, almost all aspects of manufacturing can benefit from the adoption of Blockchain technology. Growing use of smart technologies and smart manufacturing practices are also expected to help market growth in the future. Deployment of Blockchain helps improve traceability and transparency in the manufacturing industry which is crucial to maintain regulatory compliance and ensure quality standards are met. Moreover, the high adoption of automation and other Industry 4.0 trends will also create new opportunities for blockchain in manufacturing companies going forward. On the other hand, complexity in integration, data privacy concerns, and high costs of deployment are all expected to impede blockchain in manufacturing demand outlook in the long run.
US Blockchain In Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 531.79 million
Largest Segment
Automotive
Fastest Growth
Pharmaceuticals
Growth Rate
71.6% CAGR
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Global Blockchain In Manufacturing Market is segmented by Application, End Use and region. Based on Application, the market is segmented into Predictive Maintenance, Asset Tracking and Management, Business Process Optimization, Logistics and Supply Chain Management, Real-Time Workforce Tracking and Management, Quality Control and Compliance and Counterfeit Management. Based on End Use, the market is segmented into Energy & Power, Industrial, Automotive, Pharmaceuticals, Aerospace & Defense, Textile & Clothing and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Application
Use of blockchain technology to improve the transparency and efficiency of logistics and supply chain management is projected to help this segment hold a dominant share. Rising demand for traceability in supply chains to promote transparency and security of data are forecasted to help this segment bolster market growth over the coming years. Integration of Blockchain technology with other smart technologies will also create new business scope in this segment going forward.
Use of Blockchain in manufacturing to optimize business operations is estimated to rise at an impressive pace across the forecast period. Blockchain technology can help optimize manufacturing operations by improving efficiency, reducing operations costs, and automating different aspects of manufacturing. The rising emphasis of manufacturing facilities on maximizing their business potential will help this segment boost market growth at a notable pace in the future.
From automated cars to predictive maintenance in automotive manufacturing, the scope of applications for Blockchain technology in the automotive industry is endless. The automotive segment holds a prominent chunk of the global blockchain in manufacturing market share. High adoption of advanced manufacturing practices and technologies and rising emphasis on improving productivity in the automotive industry help this segment maintain its high market share.
On the other hand, the demand for blockchain in manufacturing in the pharmaceutical industry is slated to rise at a rapid CAGR over the coming years. Keeping track of raw materials used in pharmaceutical manufacturing is growing more and more important, which is slated to promote the use of Blockchain technology. Resolving the issue of counterfeit drugs is a major concern for pharmaceutical manufacturers and this could be resolved by the use of Blockchain technology in pharmaceutical manufacturing in the future.
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North America has been quick to adopt novel manufacturing technologies owing to a developed technological infrastructure making it the top market for blockchain in manufacturing companies. The presence of key Blockchain tech providers and high awareness regarding the benefits of Blockchain technology among manufacturers are also helping this region's dominance. The United States is slated to be at the forefront of blockchain in manufacturing market growth in this region followed by Canada. The growing popularity of smart contracts will also help market growth in this region.
Meanwhile, the demand for blockchain manufacturing is estimated to increase at a rapid pace in the Asia Pacific region over the coming years. High investments in the development of blockchain technology, the presence of a robust manufacturing industry, and supportive government initiatives for Blockchain R&D and adoption are expected to bolster market development in the future. China and Japan are estimated to be the leading markets for blockchain in manufacturing companies in this region.
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Demand for Better Quality Control
Improved Security and Regulatory Compliance
Scalability Issues
Integration Complexity
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Blockchain in manufacturing providers are estimated to target the digitization of the manufacturing industry to maximize their business scope. Sustainability is another key trend that will help companies maximize their business potential. Innovation will be a priority for all blockchain in manufacturing market players. The use of smart contracts to maintain compliance and promote automation of business transactions is also expected to create new opportunities for blockchain in manufacturing companies in the future. Partnerships are estimated to be highly important strategies for any blockchain in a manufacturing company looking to make a mark in this market landscape in the future.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing penetration of automation in the manufacturing industry and rising awareness regarding the benefits of Blockchain technology are projected to be key factors driving market growth. However, the limited scalability of public Blockchain platforms and issues in integration with legacy infrastructure are slated to be key restraints for blockchain in manufacturing business in the future. Strong technological infrastructure and high demand for transparency are helping North America hold a dominant stance in the global blockchain in manufacturing market. The automotive industry is estimated to spearhead blockchain in manufacturing demand outlook on a global level. Use of smart contracts will provide a plethora of opportunities for all blockchain in manufacturing companies in the long run.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 531.79 million |
Market size value in 2032 | USD 68611.31 million |
Growth Rate | 71.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Blockchain In Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blockchain In Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blockchain In Manufacturing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Blockchain In Manufacturing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Blockchain In Manufacturing Market size was valued at USD 931.79 Million in 2023 and is poised to grow from USD 1598.95 Million in 2024 to USD 120220.39 Million by 2032, growing at a CAGR of 71.6% during the forecast period (2025-2032).
Blockchain in manufacturing providers are estimated to target the digitization of the manufacturing industry to maximize their business scope. Sustainability is another key trend that will help companies maximize their business potential. Innovation will be a priority for all blockchain in manufacturing market players. The use of smart contracts to maintain compliance and promote automation of business transactions is also expected to create new opportunities for blockchain in manufacturing companies in the future. Partnerships are estimated to be highly important strategies for any blockchain in a manufacturing company looking to make a mark in this market landscape in the future. 'Microsoft Corporation ', 'IBM ', 'Intel Corporation ', 'Amazon Web Services ', 'Oracle Corporation ', 'SAP SE ', 'Blockchain Foundry Inc. ', 'Factom ', 'Chain Inc. ', 'Wipro Limited ', 'Accenture ', 'Bitfury Group ', 'Chronicled ', 'Filament ', 'Guardtime ', 'LO3 Energy ', 'RIDDLE&CODE ', 'Syncronology ', 'Virtual Operations ', 'XAIN AG'
Use of Blockchain technology in the manufacturing supply chain helps keep a transparent track of the product from raw material to finished goods. This helps blockchain in manufacturing companies maintain proper quality control right from the start to the end of the manufacturing process.
Smart Contracts: Smart contract adoption will be a major trend for blockchain in manufacturing companies to capitalize on in the future. The use of smart contracts to ensure automated fulfillment and maintain compliance without needing to invest a lot of resources will surely offer some major opportunities for blockchain in manufacturing market players in the long run.
North America has been quick to adopt novel manufacturing technologies owing to a developed technological infrastructure making it the top market for blockchain in manufacturing companies. The presence of key Blockchain tech providers and high awareness regarding the benefits of Blockchain technology among manufacturers are also helping this region’s dominance. The United States is slated to be at the forefront of blockchain in manufacturing market growth in this region followed by Canada. The growing popularity of smart contracts will also help market growth in this region.
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