Blockchain Technology in Manufacturing Market

1. Blockchain Technology in Manufacturing Market By Size, Demand Analysis, Type, Regions and Forecast -2023-2029 The global blockchain technology in manufacturing market is anticipated to grow at a considerable CAGR of 68.0% during the forecast period (2022-2028). Blockchain is an unalterable digital ledger of transactions stored across many different nodes in a network. Blockchain allows for the implementation of smart contacts, a set of pre-programmed instructions that gets executed on meeting previously agreed terms and conditions. These tech-enabled smart contracts allow manufacturing companies to ensure quality materials purchased. Any movement of materials or products is recorded in the form of blockchain, allowing everyone involved to see where things are going to be transported. It allows companies to trace the origin of their materials and accurately pay for what they need. The decentralized nature of blockchain technology also makes it difficult for companies to sell products fraudulently. The deployment of technology in manufacturing has several benefits such as supply chain monitoring for greater transparency, materials origin and counterfeit detection, asset tracking, quality assurance and regulatory compliance. In manufacturing, such smart contracts support alleviating unnecessary high transaction costs, minimising paperwork and accelerating turnaround time. All these benefits of integrating blockchain technology are leading factors driving the deployment of blockchain technology in manufacturing sector. Major players from healthcare and manufacturing are increasingly making investments and strategies to deploy the technology and strengthen the supply chain. To Request a Sample of our Report on Blockchain Technology in Manufacturing Market https://www.omrglobal.com/request-sample/blockchain-technology-in- manufacturing-market For instance, in March 2022, Unilever and SAP announced a partnership to pilot the green token by SAP solution in Unilever’s supply chain. The blockchain-enabled green token technology allows actors within the supply chain, as well as customers, to see how much sustainable material is in their product. It provides for immutable tracing of the raw materials used from input to output. At the final stage of the process, a token is issued for the product, which provides an audit history from the blockchain ledger of the product’s origin. In March 2022, SIMBA Chain, Inc. announced to build a Blockchain backed local health supply chain system. The company will use blockchain technologies to build a decentralized and privacy-preserving system for consumers and manufacturers of emergency healthcare. A full Report of Blockchain Technology in Manufacturing Market https://www.omrglobal.com/industry-reports/blockchain-technology-in-manufacturing-market Market Coverage    The market number available for – 2021-2028 Base year- 2021 Forecast period- 2023-2029 Segment Covered-   By Application By End-Use Regions Covered-      North America Europe Asia-Pacific Rest of the World Competitive Landscape- IBM Corp., Microsoft Corp., Intel Corp., NVIDIA Corp., and Oracle Corp. Key questions addressed by the report          What is the market growth rate? Which segment and region dominate the market in the base year? Which segment and region will project the fastest growth in the market? How COVID-19 impacted the market? Deviation from the pre-COVID-19 forecast Most affected region and segment Who is the leader in the market? How players are addressing challenges to sustain growth? Where is the investment opportunity? Global Blockchain Technology in Manufacturing Market Report by Segment By Application        Predictive Maintenance Asset Tracking and Management Business Process Optimization Logistics and Supply Chain Management Real-Time Workforce Tracking Quality Control and Compliance Counterfeit Management

2. By End-Use      Energy & Power Industrial Automotive Pharmaceuticals Others For More Customized Data, Request for Report Customization https://www.omrglobal.com/report-customization/blockchain-technology-in-manufacturing-market About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. Media Contact Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 780-304-0404