|Oct 04, 2018 01:16 PM||By: Ben Noble | 2619 Views|
Research by ReportLinker alleged that blockchain implementation in manufacturing business in the US is assumed to be worth of $566 million by 2025.
ReportLinker, a technology research firm, led a study on the possibility of blockchain implementation in the producing sector in the US. Divided based on end use into energy and power, industrial, automotive, pharmaceuticals, aerospace & defense, food & beverages, textile & clothing, and several other areas, the study assumed that the blockchain will start at 80% per year, which makes the value of $30 million by 2020 and $566 million by 2025.
Several circumstances that drive the vast growth are the growing of blockchain-as-a-service (BaaS) solution and necessary increases in venture capital investment and ICO, although another study claimed ICO to have become less-trending these days.
Notwithstanding the expected growth rate and value, the study alleged that it would have reached even higher numbers had the regulatory landscape been more delighted and a uniform set of standards existed, as Cointelegraph published.
Regarding the research by the MAPI (Manufacturers Alliance for Productivity and Innovation) Foundation, as of January 2018, producing output was lower by 4.7% compared to December 2007. But, the organization predicted that the producing sector would recover all loss by April 2019 and expected an normal growth rate of 2.8% from 2018-2021.