A few days ago, ReportLinker.com released the “2022 Global Manufacturing Market Report”, which mainly outlines the main impact of zone chain technology. The report pointed out that the main participants in the manufacturing area chain market include Advanced Micro Devices Inc., Amazon Web Services Inc., Blockchain Foundry Inc., Cargox, Chronicle, Xayn AG, Factom Inc., IBM, Intel, Microsoft, Ying Weida, Oracle, etc.
According to reports, the global manufacturing zone chain market is expected to increase from $ 49.5 million in 2021 to $ 85.64 million, a compound annual growth rate (CAGR) is 73%. The increase in growth trends is mainly due to the fact that the company has become a demand for growth during the 2020 COVID-19 popular period, and has stabilized. It is expected that the market will reach $ 778.5 billion in the 2026 year, an annual composite growth rate of 73.6%.
The block chain market in the manufacturing industry includes entities (organizational, wholly-owned enterprises, and partnerships) for sales of block chain services in manufacturing, these entities are engaged in the manufacturing process of digital transformation with the help of many systems and applications. Block chain technology helps manufacturing by making the supply chain safer and more transparent.
The main application of the block chain in the manufacturing market is logistics and supply chain management, fake management, quality control and compliance. Logistics and supply chain management in the block chain are used by different industry departments to improve supply chain management.
It allows the supply chain partner to share trusted data over a licensed block chain solution. The block chain is used in various industries such as energy and electricity, industrial, automotive, pharmaceutical, aerospace and national defense, food and beverage, textile and clothing.
In 2021, the Asia-Pacific region was the largest area of ??the block chain market in the manufacturing industry. The report covered in the region has Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa, including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
It turns out that technological advances are shaping the block chain market in the manufacturing industry. Artificial Intelligence and Internet of Things helps to achieve automation of manufacturing processes, saving time and cost during this process.
For example, July 2021, India Information Technology Company Tech Mahindra launched a block-based system to track vaccine supplies. Vaccine manufacturers can utilize the system, through the Internet of Things (IoT), monitor suppliers’ payment, inventory, and intelligent contracts.
The global terminal industry has increased the demand for block chains, which promoted the growth of the block chain market. In the industrial sector, the block chain can achieve a new manufacturing business model by increasing the visibility of all elements in the process, from suppliers, strategic procurement, procurement and suppliers to workshop operation, including machine-level monitoring and service.
For example, according to Wood Makenzie, the block chain released in 2021 in the energy sector research report, 59% block chain energy initiative is creating a point-to-point energy platform. Point-to-point energy market is a community that is transfers and purchases additional energy from people.
Finally, we can speculate a conclusion that the demand for each industry to block the block chain will promote the development of the block chain in the manufacturing market.