PDF version of Blockchain and Manufacturing [China and the United States] Development Report
1. Overview
According to data from the U.S. Bureau of Economic Analysis, the manufacturing industry contributed 12% to the total GDP of the United States in 2017. In the manufacturing sector, there has been a trend of large companies taking the lead in deploying blockchain technology, and there are relatively few start-up projects related to manufacturing. By analyzing Crunchbase data, the institute found that projects that combine blockchain with manufacturing account for only 2% of projects that combine blockchain with the five major industries, far lower than the financial and insurance fields (86%).
Nonetheless, the potential of combining blockchain with manufacturing is huge. Gartner, an American market research organization, revealed in its report "Forecast: Global Blockchain Business Value 2017-2030" that the commercial added value of blockchain is expected to reach US$176 billion in 2025. Gartner also surveyed executives from various industries around the world on their views on the industry application prospects of blockchain technology and found that executives in the consumer goods industry and manufacturing industry were the most optimistic about the prospects of blockchain.
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