Blockchain in Manufacturing Market 2020 Business Scenario – IBM Corporation, Intel Corporation, Microsoft Corporation, Amazon Web Services, Inc., Wipro Limited, Oracle Corporation

This report researches the worldwide Blockchain in Manufacturing market size (value, capacity, production and consumption) in key regions like United States, Europe, Asia Pacific (China, Japan) and other regions. This study categorizes the global Blockchain in Manufacturing breakdown data by manufacturers, region, type and application, also analyses the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

The blockchain in the manufacturing market is expected to register a CAGR of approximately 78% over the forecast period. In the manufacturing industry, blockchain capabilities make it all set to disrupt the adoption in the near future. It has the potential to reduce cost substantially, decrease lead times so that manufacturers can focus on other core competent areas to enhance profitability. Whether it is suppliers, procurement, strategic sourcing, shop floor operations or anything pertaining to manufacturing blockchain triggers a completely new way of doing the manufacturing business. Right from sourcing, procurement and dealer quality to operations such as machine-level monitoring, blockchain can pave the way for a new business model and has the potential to emerge as a disruptive solution to these functions in manufacturing.

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Top Leading Companies of Global Blockchain in Manufacturing Market are IBM Corporation, Intel Corporation, Microsoft Corporation, Amazon Web Services, Inc., Wipro Limited, Oracle Corporation, Advanced Micro Devices, Inc., Factom, XAIN AG, Blockchain Foundry, Inc. and others.

May 2019 - Amazon Web Services (AWS), the e-commerce giant’s cloud computing arm, has launched its Managed Blockchain service for wider use among enterprise clients. AT&T, Nestle, Accenture, and others are already using the service.

February 2019 - Intel has launched a commercial blockchain package based on the Hyperledger ecosystem. Intel is a member of the Hyperledger collaboration which is hosted by the Linux Foundation along with IBM and other major financial institutions. The new product is designed for businesses that want to launch their own blockchain fast and effectively.

11 October 2019: IBM this week launched a new supply chain service based on its blockchain platform and open-source software from recently-acquired Red Hat that allows developers and third-party apps to integrate legacy corporate data systems onto a distributed ledger. Through the use of open APIs, the new Sterling Supply Chain Suite allows distributors, manufacturers and retailers to integrate their own data and networks – as well as those of their suppliers – onto a Hyperledger-based blockchain to track and trace products and parts. Among the data that can be integrated are IoT sensor systems for real-time shipment position location.

Key Market Trends

Logistics and Supply Chain Management Expected to Account for the Largest Market Share

- The logistics and supply chain forms an integral part of the manufacturing industry. Hence a highly efficient system will ensure that the manufacturing processes run seamlessly. The manufacturing businesses can leverage the blockchain technology by combining IoT and blockchain technology to streamline their supply chains, increase authenticity, transparency, compliance to product and contractual requirements while reducing counterfeiting.
- For instance, in 2017, two companies, IBM and Maersk, tested the application of blockchain in logistics. The experiment depicted how blockchain can be used to track on-transit containers. With blockchain, the supply chain stakeholders benefit from accessing relevant, actionable information. Traceability and transparency are some of the most important foundations of logistics. Further, blockchain can optimize business transactions and trading relationships with robustly secure, global business networks.
- The technology can help businesses improve supplier order accuracy, quality of the product, trace the origin, and track the journey of products across the supply chain. The results are a greater collaboration, streamlined inventory management, improved asset utilization, and more.
- Studies put that around 70% to 80% of supply chain managers worry about supply chain disruptions, particularly high in manufacturing, having an outsize reliance on materials. For instance, in between 2014 and 2017, supply chain waste and abuse fraud risk spiked from 25.2% to 35%. By introducing blockchain, intermediaries can be eliminated to streamline supply chain operations. Synchronization of transaction data across networks is also possible, which enable the participants to validate each other's work.

North America is Expected to Dominate the Market

- The manufacturing sector is a significant contributor to the global GDP and is particularly true in North America. The region is expected to hold the largest market share of the blockchain in the manufacturing market. The countries significantly adopting the blockchain in manufacturing services are the US and Canada, owing to the presence of major market players, such as IBM, Intel, Oracle, etc. Manufacturers were responsible for USD 2.33 trillion to the US economy in Q1 of 2018, the equivalent of 11.7% of the nation’s economic output and with 12.75 million jobs sustained by the US manufacturing sector, it has significant potential for growth.
- Also, the region has sustainable and well-established economies, which allow them to have robust investments in R&D activities, thereby contributing to the development of new technologies. For instance, automotive manufacturers, such as Ford, BMW, General Motors, and Renault, collaborated to form a blockchain alliance named Mobility Open Blockchain Initiative (MOBI). IBM and Accenture provide MOBI's hardware.
- Furthermore, the growth potential can also be attributed to the early adoption of technological advancements, such as IoT, big data, DevOps, and mobility. Hence, manufacturers are keen to integrate blockchain technologies into their processes. Moreover, the startup culture in North America is growing at a faster pace as compared to other regions. The advent of SMEs and increasing digitalization in manufacturing have also aided the growth of the North American market.

Regional Outlook of Blockchain in Manufacturing Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

This allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences, and the vendor landscape of the overall market.

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Following are major Table of Content of Blockchain in Manufacturing Industry:

• Blockchain in Manufacturing Market Sales Overview.
• Blockchain in Manufacturing Market Sales Competition by Manufacturers.
• Blockchain in Manufacturing Market Sales Analysis by Region.
• Blockchain in Manufacturing Market Sales Analysis by Type.
• Blockchain in Manufacturing Market Analysis by Application.
• Blockchain in Manufacturing Market -Manufacturers Analysis.

What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Global Blockchain in Manufacturing Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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