Report: blockchain in the production market will cost $ 500 million by 2025

[Paha87]

A recent report by researchlinker shows that the use of blockchain technology in the U.S. industrial sector will increase significantly from 2020-2025.

               


In preparing the report, the authors share the use of blockchain application, end use and territory. The study then divided the blockchain into a manufacturing market based on the end - use of the energy, industrial, automotive, pharmaceutical, aerospace and defense industries, food and beverage, textile and clothing industries, and other sectors.

According to the study, the blockchain in the manufacturing market is expected to be valued at $ 30 million by 2020 and this number will grow with a cumulative annual growth rate of 80% and eventually reach $ 566 million by 2025. The report mentions that the blockchain will simplify business processes and ensure transparency and permanence , while eliminating intermediaries in logistics and supply chains.

The authors cite several factors that stimulate growth, the main of which is the growth of solutions for the production of blockchain in the service sector (BaaS) for business, as well as a significant increase in investments from venture capital and primary coin offerings (ICO).

However, the report argues that"the uncertain regulatory landscape and the lack of a single set of standards are holding back blockchain growth in the manufacturing market."

The MAPI Foundation, which conducts research and makes recommendations on the conditions of the us manufacturing sector, said in March that as of January 2018, production was 4.7 percent lower than in December 2007.

Despite the recession following the 2008 recession, MAPI predicts: "the U.S. manufacturing sector will fully recover all lost products by April 2019. The Fund projected an average growth rate of 2.8 percent for U.S. production from 2018 to 2021."

In August, it was reported about another survey conducted by Deloit, which showed that the technology is gaining significant use at the Executive level of enterprises of different industries. 74% of survey respondents said their Executive team believes there is an "compelling business case" for blockchain technology, with 34% saying that some form of blockchain deployment is already under development within their company.

Link to the source of information (Russian) - https://altstake.io/news/otchet-blokcheyn-na-rynke-proizvodstva-budet-stoity-500-mln-k-2025-godu