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The digital product passport software market is projected to surge at a CAGR of 18.7% from 2024 to 2034. The market is further set to reach US$ 801.2 million in 2034, an astronomical jump from US$ 144.4 million in 2024. Industries are witnessing a surge in companies embracing digital transformations to enhance efficiency and streamline processes and customer experiences.
Attributes | Key Insights |
---|---|
Base Value (2023) | US$ 122.4 million |
Digital Product Passport Software Market Size (2024E) | US$ 144.4 million |
Projected Revenue (2034F) | US$ 801.2 million |
Value-based CAGR (2024 to 2034) | 18.7% |
The digital product passport (DPP) software industry is a rapidly evolving sector that focuses on promoting the adoption and effectiveness of digital product passport (DPP) technologies. As organizations recognize the value of DPPs in mitigating risks, enhancing efficiency, and meeting consumer expectations, the industry is set to continue growing.
Blockchain technology is projected to be used in digital product passport (DPP) solutions to ensure transparency and immutability of product information. Its ability to record data and transactions on a distributed ledger is set to allow for secure tracking throughout the product lifecycle.
It is anticipated to be beneficial for key players looking to integrate IoT devices in DPP. Integration would enable real-time monitoring and tracking of their movement through the supply chain. Companies are looking for DPP software solutions that can use artificial intelligence and advanced analytics to analyze data and identify patterns, trends, and anomalies.
The data is further set to be used for predictive maintenance, quality optimization, and supply chain optimization. Companies looking for sustainability and compliance with stringent norms & industry standards are projected to use DPP software. It helps in providing transparency into product origins, materials, and environmental impact, thereby augmenting demand.
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From 2019 to 2023, the industry experienced a CAGR of 17.9% and reached US$ 122.4 million in 2023. The digital product passport software market witnessed significant growth between 2019 and 2023.
The adoption of digital product passports in the manufacturing, healthcare, and transportation sectors was propelled by the growing demand for secure, transparent supply chain management solutions. Technological developments, including blockchain integration and IoT sensors, further boosted market adoption to provide data security robustness and real-time tracking capabilities to new heights.
Looking ahead, the global digital product passport software industry is set to rise at a CAGR of 18.7% from 2024 to 2034. During the forecast period, the industry is projected to reach US$ 801.2 million.
Digital product passport software with the ability to deliver real-time data flow, supply chain transparency, and regulatory compliance monitoring are poised to see significant improvements in compliance monitoring. Developments in technology such as blockchain, IoT integration, and artificial intelligence are essential for companies to streamline operations, ensure compliance, and build customer trust.
Increasing demand for supply chain transparency and consumer trust are projected to compel leading companies to adhere to sustainability commitments. The demand for sustainable business approaches is escalating among consumers, fueling the industry's growth.
Partnerships with IoT providers for real-time tracking and analytics are propelling the development of the industry. Integration of blockchain technology for immutable raw material records is gaining traction in the industry.
The section comprehensively evaluates three interrelated industries: the digital product passport software sector, the software distribution industry, and the software-defined networking industry. It provides distinctive characteristics of each sector, including their CAGRs, while delving into the pivotal factors that influence their growth trajectories.
Among the three industries, the software-defined networking industry is anticipated to lead during the forecast period due to the escalating proliferation of edge computing. On the other hand, the software distribution industry is set to register slower growth compared to the other two. This can be attributed to the ongoing piracy and unauthorized distribution.
Digital Product Passports (DPP) Software Industry:
Attributes | Digital Product Passports (DPP) Software Industry |
---|---|
CAGR (2024 to 2034) | 18.7% |
Emerging Opportunities in Digital Product Passport Software Market | DPP software uses AI and modern analytics to analyze product data, thereby identifying patterns, trends, and supply chain optimization. |
Digital Product Passport Software Sector Trends | DPP software enhances supply chain collaborations among stakeholders by providing a shared platform for documenting and accessing product data, promoting transparency, trust, and accountability. |
Software Distribution Industry:
Attributes | Software Distribution Industry |
---|---|
CAGR (2024 to 2034) | 12.3% |
Growth Factor | The rise of smartphones and tablets has significantly impacted mobile app distribution, with App Store and Google Play Store playing a vital role. |
Key Trends | Software vendors are shifting from one-time license purchases to subscription-based models, offering customers flexibility, lower costs, and continuous support. |
Software Defined Networking Industry:
Attributes | Software Defined Networking (SDN) Industry |
---|---|
CAGR (2024 to 2034) | 17.2% |
Growth Factor | Optimizing application performance and ensuring consistent security policies across distributed cloud infrastructures are the key factors fueling growth. |
Key Trends | Automation is a growing trend in the SDN industry, enhancing network provisioning, configuration management, and troubleshooting. |
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The section provides detailed information about the leading countries in the market. In North America, the United States is anticipated to remain at the forefront by registering a considerable CAGR of 8.2% by 2034. Furthermore, in Europe, Germany is set to surge at 5.3% CAGR by 2034.
Countries | Value-based CAGR (2024 to 2034) |
---|---|
United States | 8.2% |
China | 9.5% |
Germany | 5.3% |
The United States is projected to surge at a CAGR of 8.2% by 2034. The country has a robust digital technology market, prioritizing consumer protection and supply chain transparency through complex regulatory frameworks.
Digital passports ensure authenticity & security and trace products throughout their life cycle, enhancing supply chain accountability in the United States. Market maturity and widespread digital adoption have facilitated the integration of DPP, allowing companies to fulfill regulatory requirements and build customer trust.
China's manufacturing boom has heightened the need for digital goods licensing solutions to ensure traceability, supply chain transparency, and regulatory compliance. The country is antagonistically investing in digital infrastructure and technology, developing an environment for the adoption of digital solutions across industries.
Government initiatives promoting digitization and innovation have prompted companies to adopt DPP software to enhance efficiency, reduce costs, and boost customer confidence. China's vital role in international trade propels companies to meet global standards, comply with regulations, and enhance competitiveness with digital goods passports.
China's robust manufacturing sector, government support for digitalization, supply chain management, and global business influence have significantly impacted the market. The country is set to rise at a CAGR of 9.5% during the forecast period.
By 2034, Germany is estimated to surge at a CAGR of 5.3%. The country’s Industry 4.0 policy and stringent regulatory standards fuel growth through developed technologies such as IoT, AI, and blockchain, improving product lifecycle and compliance. As companies in the country prioritize transparency, efficiency, and sustainability, the digital goods passport market is poised to grow considerably in the forecast period.
The section below analyzes some leading segments and their anticipated growth rates. Leading companies use this data to invest in key deployment and enterprise size to solidify their positions in the industry.
Based on deployment, the on-premise segment accounts for a prominent value share and is set to register a CAGR of 12.6% through 2034, owing to several advantages offered by this deployment. By enterprise size, the medium-sized enterprise segment is poised to advance at 9.5% CAGR between 2024 and 2034.
Deployment | Value CAGR (2024 to 2034) |
---|---|
Cloud-based | 11.9% |
On-premises | 12.6% |
On-premises provides companies with greater control over data security policies to implement customized security measures and ensure compliance with regulatory requirements. By hosting software on their own servers and infrastructure, companies are set to customize the workflow based on specific requirements and avoid potential issues with cloud service outages.
On-premises deployment further offers flexibility, integration with existing IT infrastructure, and seamlessness, making it vital for complex, interconnected firms. The segment’s growth in the market is attributed to its robust data protection, reliability, performance excellence, flexibility, and easy integration capabilities.
Enterprise Size | Value CAGR (2024 to 2034) |
---|---|
Small Enterprises (10 to 99 employees) | 8.4% |
Medium-sized Enterprise (100 to 499 employees) | 9.5% |
Medium-sized enterprises in the digital products passport software have greater flexibility and agility compared to larger enterprises, allowing them to adapt more quickly to market changes. This flexibility enables medium-sized enterprises to innovate, manufacture, and consume new products swiftly and appropriately.
Medium-sized enterprises are utilizing digital technologies to streamline operations, improve customer experience, and surge their reach. They are fueling growth of the digital products software market due to their agility, global industry access, and customized digital solutions. Due to these reasons, the medium-sized enterprises segment is set to dominate the market with a CAGR of 9.5% through the forecast period.
Industry | Value CAGR (2024 to 2034) |
---|---|
Retail | 10.2% |
Healthcare | 11.6% |
The healthcare industry is using digital product passport software to enhance patient data management, compliance, and patient care through efficient digital record storage. DPP software enhances healthcare efficiency and secure data processing, supporting stronger regulatory standards and streamlining operations for better management. Demand for robust digital product passport solutions continues to grow, as it is an important part of the developing environment of healthcare technology.
Leading companies are focusing on prioritizing market research and customer feedback to identify needs and develop targeted solutions. They are also focusing on investing in strategic partnerships and collaborations to surge their reach and offer comprehensive solutions.
Key Developments
Product Innovation
Continued innovation ensures that digital product passport software remains at the forefront of meeting evolving demand and regulatory challenges, providing value for customers and sustaining competitive advantage.
Strategic Partnerships and Collaborations
By forming alliances with industry leaders, regulators, and technology stakeholders, companies are set to enter new market segments, offer domain expertise, and stay abreast of regulatory changes. Partnerships facilitate collaborative research & development efforts, leading to the development of innovative products and solutions that meet evolving customer needs. This collaborative approach not only strengthens industry competition but creates trusted relationships that nurture mutual growth and value in the market.
The two key deployments are cloud-based and on-premise.
The five leading enterprise sizes are small offices (1 to 9 employees), small enterprises (10 to 99 employees), medium-sized enterprises (100 to 499 employees), large enterprises (500 to 999 employees), and very large enterprises (1000+ employees)
Leading industries include retail, logistics, chemical, automotive, healthcare, steel, electrical goods, and travel/leisure.
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and Middle East and Africa are covered.
The industry is set to reach US$ 144.4 million in 2024.
Demand is slated to rise at an 18.7% CAGR by 2034.
The industry is set to reach US$ 801.2 million in 2034.
Billon Group Ltd, CIRCULARISE, and CIRPASS are the key players.
On-premise segment is estimated to lead in 2024.
East Asia is estimated to grow significantly over the forecast period.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Type of Pricing Models, by Solution 5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Deployment 6.1. Cloud-based 6.2. On-premises 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Enterprise Size 7.1. Small Offices (1 to 9 employees) 7.2. Small Enterprises (10 to 99 employees) 7.3. Medium-sized Enterprise (100 to 499 employees) 7.4. Large Enterprises (500 to 999 employees) 7.5. Very Large Enterprises (1,000+ employees) 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Industry 8.1. Retail 8.2. Logistics 8.3. Chemical 8.4. Automotive 8.5. Healthcare 8.6. Steel 8.7. Electrical Goods 8.8. Travel/Leisure 8.9. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 9.1. North America 9.2. Latin America 9.3. East Asia 9.4. South Asia and Pacific 9.5. Western Europe 9.6. Eastern Europe 9.7. Middle East and Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Deployment, Enterprise Size, Industry for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Billon Group Ltd 19.2. CIRCULARISE 19.3. CIRPASS 19.4. Det Norske Veritas Group 19.5. iPoint-systems GmbH 19.6. Kezzler AS 19.7. LyondellBasell Industries Holdings B.V. 19.8. Narravero GmbH 19.9. OPTEL GROUP 19.10. Protokol 19.11. PSQR 19.12. Qliktag Software Inc. 19.13. Scantrust SA 19.14. Spherity GmbH 19.15. THE ID FACTORY SRL
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