Blockchain is a global ledger that can automatically record and validate very high volumes of digital transactions, irrespective of location. The transactions in the block chain are undisputable and threat of hacking is also eliminated, as all the transactions made are authorized by the miners. A block chain is largely utilized in the banking and financial services sector. A block chain is being increasingly utilized in applications in the electronic component industry as well due to its capability to manage multi-party complex transactions reliably and securely.
A major factor driving the block chain in electronic component industry market is its capability to eliminate any counterfeiting risk associated with the supply chain of electronic components. The electronics industry is estimated to witness a significant rise in the implementation of block chain in the near future as counterfeit parts pose a considerable threat to manufacturing. High security is ensured, as Blockchain verifies and records all the transactions made. It is also a faster and a cheaper medium of carrying out transfer of online information and virtual money without the need of any third-party verification. Consequently, it is increasingly being adopted globally.
However, publicly traded manufacturers do not wish to disclose every transaction for respective manufacturing part number (MPN). Nevertheless, a manufacturer can always create multiple wallets for the same MPN, allowing buyers to verify the ownership of the wallet. However, a single buyer will not be able to request a large number of wallet addresses of a single manufacturer, thus not revealing his sales or profit margin. A lack of awareness about the reliability of block chain is a major restraint of the market, in spite of its robustness in the electronic component industry. However, the impact of this restraint is expected to significantly decrease in the near future.
Increasing demand for Blockchain from small-scale electronic component manufacturers and from electronics manufacturing service (EMS) providers who cannot afford to purchase components directly from original component manufacturers is likely to present growth opportunities for the block chain in electronic component industry market. Since, these are most susceptible to encounter counterfeit parts, they are anticipated to be able to easily uncover a counterfeit by looking at the part’s block chain transaction history, followed by identifying where it left the regular supply chain and entered the black market.
The block chain in electronic component industry market can be segmented based on type of block chain, size of the component manufacturer, and geography. Based on type, the market can be segmented into public block chain, private block chain, and consortium block chain. The consortium block chain is partly public and is therefore, also referred to as the hybrid block chain. In terms of size of the component manufacturer, the block chain in electronic component industry market can be segregated into small-scale manufacturer, medium scale manufacturer, and large scale manufacturer. In terms of geography, the block chain in electronic component industry market can be segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America. Apart from North America, which deploys advanced technologies for payments and documentation, Asia Pacific is also expected to be a highly attractive market for block chain in electronic component owing to the presence of a vast majority of manufacturers of electronics components in the region.
Prominent players operating in the block chain in electronic component industry market include ABB Ltd., Accenture, Inc. 21, Inc., Chain, Inc., AlphaPoint Corporation, Bitfury USA, Inc., Skuchain, Inc., Coinbase, Inc, BTL Group, Dash Technologies Inc., Venture Proxy Ltd., Abra, Inc., Circle Internet Financial Limited, Digital Asset Holdings, LLC, Digitalx Ltd., Global Arena Holding, Inc., IBM Corporation, and Microsoft Corporation.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.