Market Overview

The global blockchain in manufacturing market was valued at USD 3,027.9 Million in 2024 and is expected to reach USD 95,576.9 Million by 2033, growing at a CAGR of 46.8% during 2025-2033. North America dominates with over 37.0% market share in 2024, driven by technological advancements, supply chain transparency, and security demands. The market expands due to blockchain's facilitation of real-time product tracking, fraud risk minimization, and regulatory adherence.

Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Blockchain in Manufacturing Market Key Takeaways

• Current Market Size: USD 3,027.9 Million in 2024
• CAGR: 46.8% during 2025-2033
• Forecast Period: 2025-2033
• North America held the largest market share of over 37.0% in 2024.
• The United States contributed 80.0% of North America’s market share, primarily driven by the pharmaceutical sector growth.
• Infrastructure and protocols providers dominate the provider segment with around 60.0% market share in 2024.
• Logistics and supply chain management lead the application segment in 2024.
• Electronics and semiconductor is the leading end-user industry in 2024.

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Market Growth Factors

The global blockchain in manufacturing market growth is primarily driven by the increasing need for enhanced traceability and transparency in supply chains. Blockchain technology offers a rigid and decentralized ledger system enabling real-time product tracking from origin to end-user, which helps minimize fraud risks and improve operational efficacy. The growing focus on quality assurance and regulatory compliance, particularly in key sectors such as food production and pharmaceuticals, further drives blockchain adoption.

The emergence of the Internet of Things (IoT) and Industry 4.0 promotes the integration of blockchain with smart manufacturing methods, enhancing partnerships among stakeholders and data security. This synergy facilitates improved collaboration, reduces anomalies in product tracking, and fuels market growth at a significant pace.

Counterfeit prevention and product authentication also play crucial roles in market expansion. Blockchain provides an immutable record for product journeys, allowing stakeholders and customers to verify origin and legitimacy using RFID tags, QR codes, or other identifiers. This is especially vital as counterfeit products cause significant economic losses, illustrated by Europe’s annual loss of  016 billion and nearly 200,000 jobs in toy, clothing, and cosmetics sectors. Furthermore, blockchain streamlines supply chain operations and enhances efficiency by providing a shared platform for real-time data access, reducing procurement costs by up to 20% and quickening time-to-market with smart contracts in manufacturing.

Market Segmentation

By Provider:

• Middleware Providers
• Infrastructure and Protocols Providers
• Applications and Solution Providers

Infrastructure and protocols providers dominate the market in 2024, holding around 60.0% due to their foundational role in enabling blockchain integration with scalability, interoperability, and security.

By Application:

• Logistics and Supply Chain Management
• Counterfeit Management
• Quality Control and Compliance
• Others

Logistics and supply chain management leads the market due to blockchain’s decentralized and transparent ledger ensuring traceability and collaboration across stakeholders, optimizing inventory and demand forecasting.

By End User:

• Automotive
• Aerospace and Defense
• Pharmaceutical
• Electronics and Semiconductor
• Others

Electronics and semiconductor lead the market in 2024, driven by complex supply chains and the need for IP protection, secured by cryptography-based blockchain features fostering collaboration and rapid innovation.

Regional Insights

North America is the dominant region with a market share exceeding 37.0% in 2024. This leadership is attributed to robust infrastructure, supportive regulatory frameworks for cryptocurrency and blockchain development, and heavy investments by technology giants and startups. The United States leads within North America, accounting for 80.0% of the region’s share, propelled by the pharmaceutical sector’s expansion and increasing demand for secure and transparent supply chains.

Recent Developments & News

• December 2024: GCL Energy Technology and Ant Digital Technologies launched the first blockchain-based Real World Asset (RWA) project in China’s photovoltaic industry, securing 200 Million yuan in cross-border financing.
• December 2024: The Worldwide Asset eXchange (WAX) partnered with Amazon Web Services (AWS) to launch the WAX AWS Cloud Development Kit (CDK) for building custom Layer 2 blockchain solutions.
• October 2024: Microsoft Azure expanded its Blockchain as a Service (BaaS) offerings, facilitating blockchain adoption with cloud-based infrastructure.
• September 2024: Google Cloud launched a Blockchain RPC service to support Web3 developers, simplifying blockchain data interaction.
• September 2024: Shri S. Krishnan from India’s Ministry of Electronics and Information Technology launched the Vishvasya-Blockchain Technology Stack offering Blockchain-as-a-Service with enhanced scalability.

Key Players

• Accenture plc
• Advanced Micro Devices Inc.
• Amazon Web Services Inc. (Amazon.com Inc.)
• Infosys Limited
• Intel Corporation
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Wipro Limited

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