Dublin, Oct. 03, 2018 (GLOBE NEWSWIRE) -- 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.
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 and 2025.
Key factors driving the growth of the blockchain in manufacturing market include blockchain-as-a-service (BaaS) solutions for enterprises; simplifying business processes and affording transparency and immutability; significant increase in venture capital investments and initial coin offerings (ICO); increasing demand for real-time data analyses, enhanced visibility, and proactive maintenance; increased emphasis on energy efficiency and cost of production; convergence of operational technology (OT) and information technology (IT); AI, IoT, blockchain and the future of manufacturing industry; and increase in global blockchain-related patent filings.
Strategies such as product launches and developments, agreements, collaborations, joint ventures, and partnerships adopted by market players are fueling the growth of the blockchain in manufacturing market. However, uncertain regulatory landscape and absence of common set of standards are restraining the growth of the blockchain in manufacturing market.
Logistics and supply chain management applications are expected to account for the largest market share during the forecast period. 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. 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.
China, India, Australia, and Singapore are witnessing a significant growth in the number of startups focusing on blockchain. Here, organizations have started joining various conferences to brainstorm and understand the value of blockchain. For instance, the APAC Blockchain Conference was formed by 420 participants from diverse industry verticals and Australian Digital Commerce Association (ADCA) to explore blockchain in depth.
China is the biggest manufacturing hub in the world and is actively working on its smart manufacturing strategy to develop its manufacturing sector and reform and strengthen the Chinese economy over the next 10 years. The government is working toward implementing the Made in China 2025 strategy, to seek innovation-driven developments, apply smart technologies, strengthen foundations, pursue green development, and redouble its efforts to transform China's manufacturing model from quantity centric to being quality centric. Manufacturing accounts for about a fifth of Singapore's GDP, and the Government of Singapore is taking aggressive steps toward adopting IoT in manufacturing.
Companies in Singapore are working toward achieving Industry 4.0, integrating autonomous robots, big data and analytics, blockchain, augmented reality, additive manufacturing, IIoT, horizontal and vertical systems integration, simulation, cloud, and cybersecurity. The Government of Singapore is working toward IT infrastructure development to provide a fast, secure, and reliable network to support hundreds of billions of industrial devices. The Indian blockchain market has taken the technology's adoption to the next level, where the integration of pilots and production-ready applications can be seen. With an increasing interest of the government, technology giants, and domestic startups on multiple platforms, the country is expected to witness an exponential adoption of the blockchain technology.
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/c3ktwm/global_blockchain?w=12
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